What is individual life insurance?

Get Legal Help Today

 Secured with SHA-256 Encryption

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Full Bio →

Written by

UPDATED: Aug 6, 2012

Advertiser Disclosure

It’s all about you. We want to help you make the right legal decisions.

We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about legal topics and insurance. Our goal is to be an objective, third-party resource for everything legal and insurance related. We update our site regularly, and all content is reviewed by experts.

Individual life insurance generally is underwritten taking into account the actuarial risk of death of the one individual being insured, a one-person-one-policy type of coverage. However, some types of individual life policies do cover multiple people.

For example, most “Second to Die” or survivorship policies which pay upon the death of the second of two insured people (for estate planning purposes to reduce federal estate tax) are still regarded as Individual Life insurance.

Similarly the “First to Die” life insurance, where the lives of a small number of people are covered and the life insurance is payable on the first death is also individual life insurance. First to Die is often used to cover partners in a business, with the benefits often intended to buy out the share of the partner who dies first.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption