Systems and methods for providing a legacy life insurance policy benefit to a beneficiary

摘要

A “legacy life” component to a life insurance policy. An insured may protect his/her descendents by applying for a life insurance policy that provides for subsequent life insurance for the descendents as part of the death benefit provided by the life insurance policy. The “legacy life” policy may have different underwriting procedures in place and/or a lower premium than comparable coverage policies as a portion of the policy death benefit payout would be withheld to fund the descendent life insurance policy. As such, the legacy life insurance policy may produce the subsequent life insurance policy as a fully-funded derivative policy at payout. Because the original policy does not payout the full face value as a cash death benefit, the derivative policy maximizes a float for the insurance provider.