Asurvivorship life policy(second-to-die insurance) covers two or more individuals (typically spouses) and pays the death benefitupon the death of the last surviving insured. It is often used for estate planning, as defined in Oklahoma’s life insurance regulations (Title 36 O.S. § 4002). This contrasts with a joint life policy, which pays on the first death.
Option A: Incorrect. Payout is not tied to a fixed age but to the last insured’s death.
Option B: Incorrect. Divorce does not trigger a payout; it may affect ownership or beneficiaries.
Option C: Incorrect. Payout occurs on the last insured’s death, not the first.
Option D: Correct. The policy pays upon the death of the last surviving insured.
[:, Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section: General Knowledge – Life Insurance)., Oklahoma Insurance Department, Title 36 O.S. § 4002 (life insurance products)., Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing., ]
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