风险与保险原理课件_ch16 专业人寿合同（英文版）（19页）ppt.pdf

Specialized Life Contracts

Many life insurance contracts have been designed 

to meet specialized situations

These contracts may 

or may not offer the same degree of flexibility as 

do the basic contracts.

They often have advantages 

that make them attractive for specialized needs.

Specialized contracts are merely combinations or 

modifications of the basic types of life insurance

10 years

20 years

$100,000

Mortgage

Redemption

Policy

Uniform

Decreasing

Term

Joint Mortgage Redemption Policy

1.Decreasing term, written on two lives.2.Designed to cover 

mortgage obligation of a 

two-income couple in the event one dies.3.Premium is slightly 

less than separate individual 

mortgage protection policies on each partner.

Survivorship Whole Life

1.Also called “second-to-die” policy.

2.Insures two lives and pays only at the time of the second death.

3.Designed to cover estate taxes payable at the death of a surviving spouse, since marital 

deduction will not be available under the federal estate tax.