Life Insurance

Survivorship Universal Life Insurance - Leave a Legacy of a Lifetime

Survivorship Universal Life Insurance1 covers two people, and pays a benefit only after both have passed away. Since it costs less than two individual permanent policies, it's an affordable option to leave a larger nest egg for your heirs or favourite cause.

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Cost of Insurance Options

From yearly renewable term, which offers renewable costs of insurance based on the insured's age on each policy anniversary; to level costs of insurance for life, which can be paid-up in 10 years or more.


Starts as low as $10,000 depending on the coverage selected

Issue Ages

0 - 80 (Depending on the type of coverage)

How it Works

The Survivorship Universal Life policy can assist in planning for the following needs:

  • Help preserve your estate — Even if you have dipped into your assets during retirement, the policy will leave death benefit proceeds that pass generally income-tax free to your beneficiaries. They could use the policy proceeds to help offset probate fees and taxes on capital gains.2
  • Business transition planning — Life Insurance can help provide the funds needed to orderly transfer ownership of a business. For family-owned businesses, it can help make sure those interested in continuing the business can do so, while providing for non-interested heirs.
  • Charitable Giving — Maybe you have a special place in your heart for a certain charity. With Survivorship Universal Life, you can truly make a difference.
  • Fund a special-needs trust — For those needing extended care, Life Insurance can provide the funds to pay for expenses when caregivers are no longer living.

Additional Benefits:

  • Build tax-deferred cash value — The growth in cash value is federal tax-deferred and it can be accessed for a variety of personal needs.3
  • Flexible premiums — Raise or lower premiums, depending on your changing needs or financial situation.
  • Affordable — Since the policy pays only after two people have passed on, it costs less than two individual Life Insurance policies.
  • Tax-free death benefit — No matter how large your death benefit, it passes to your beneficiaries generally income tax-free.

Need help choosing a policy? Compare Policies

Customize your Policy

Add even more value to your policy by buying any of these optional riders.4 A State Farm® agent can help you customize a policy to meet your needs.4


1 Survivorship Universal Life is the marketing name for joint last-do-die coverages.

2 State Farm agents do not provide tax, legal, or investment advice. Please consult your tax, legal, or investment advisor regarding your specific circumstances.

Withdrawals will reduce the death benefit and fund value. Withdrawals can have tax consequences.

With Survivor Universal Life the coverage stays in force as long as the costs of insurance are paid as required.

This is a general description of coverage. A complete statement of coverage is found only in the policy. For more details on coverage, costs, restrictions; or to apply for coverage, contact a local State Farm agent.

There are limitations and conditions regarding payment of benefits due to misrepresentations on the application or when death is the result of suicide in the first two policy years.