What is Failure to Survive Insurance?

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

What is Failure to Survive Insurance?

Failure to survive insurance is a type of policy that provides financial protection in the event that an individual does not survive a specified period, typically linked to a specific surgery, medical treatment, or high-risk activity. This insurance is often considered by those undergoing major medical procedures or participating in hazardous activities.

Examples of Failure to Survive Insurance

  1. Medical Procedures: If someone is undergoing a high-risk surgery, they might opt for this insurance to ensure financial support for their family in case they do not survive the surgery.
  2. High-risk Jobs or Activities: People engaged in dangerous occupations or activities, like deep-sea diving or mountain climbing, might choose this insurance for similar reasons.

Key Features of Failure to Survive Insurance

FeatureDescription
Coverage PeriodTypically linked to the duration of a specific risk exposure
Benefit PayoutOften depends on health and the nature of risk involved
Eligibility CriteriaOften depends on health and the nature of the risk involved
PremiumsCalculated based on risk level and duration of coverage

Conclusion

Failure to survive insurance offers a unique way to provide financial security in high-risk situations. It’s tailored to cover specific periods of elevated risk, such as major surgeries or dangerous activities. Understanding this insurance helps individuals and families prepare for unexpected outcomes, ensuring peace of mind.

Contact us today for a free quote.

Request A Quote

Get help from a licensed financial professional. This service is free of charge.

Disability Insurance Inquiry
First
Last

Who is eligible for Contract Indemnity Failure to Survive Insurance?

Any business with crucial personnel whose death would significantly impact the business’s financial performance is eligible for Contract Indemnity Failure to Survive Insurance.

What is considered essential personnel?

Key personnel is defined as an individual who is critical to the business’s day-to-day operations and whose death would significantly impact the business’s financial performance.

How much does Contract Indemnity Failure to Survive Insurance cost?

The cost of Contract Indemnity Failure to Survive Insurance varies depending on the value of the key personnel to the business and the potential financial impact of their death on the business.

Can the insurance be canceled at any time?

Yes, Contract

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Shawn Plummer is a Chartered Retirement Planning Counselor, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

Scroll to Top