• Revenue Cycle Management
  • COVID-19
  • Reimbursement
  • Diabetes Awareness Month
  • Risk Management
  • Patient Retention
  • Staffing
  • Medical Economics® 100th Anniversary
  • Coding and documentation
  • Business of Endocrinology
  • Telehealth
  • Physicians Financial News
  • Cybersecurity
  • Cardiovascular Clinical Consult
  • Locum Tenens, brought to you by LocumLife®
  • Weight Management
  • Business of Women's Health
  • Practice Efficiency
  • Finance and Wealth
  • EHRs
  • Remote Patient Monitoring
  • Sponsored Webinars
  • Medical Technology
  • Billing and collections
  • Acute Pain Management
  • Exclusive Content
  • Value-based Care
  • Business of Pediatrics
  • Concierge Medicine 2.0 by Castle Connolly Private Health Partners
  • Practice Growth
  • Concierge Medicine
  • Business of Cardiology
  • Implementing the Topcon Ocular Telehealth Platform
  • Malpractice
  • Influenza
  • Sexual Health
  • Chronic Conditions
  • Technology
  • Legal and Policy
  • Money
  • Opinion
  • Vaccines
  • Practice Management
  • Patient Relations
  • Careers

Second-to-die insurance policies usually not needed

Article

Learn whether it's worthwhile to obtain a second-to-die insurance policy for estate tax purposes.

A: A second-to-die life insurance policy pays benefits when the second of two people (usually a spouse) dies. Today, the primary purpose of such a policy is to provide cash to pay taxes if you have an extremely valuable illiquid asset, such as a business, worth millions of dollars.

With the new $5 million per person exemption in place for the next 2 years, 99% of estates will not be subject to the federal estate tax and, therefore, you would be insuring for a tax that (likely) will not apply.

Send your money management questions to medec@advanstar.com. Answers to our readers' questions were provided by Medical Economics editiorial consultant David J. Schiller, Schiller Law Associates, Norristown, Pennsylvania.

Related Videos