Second death life insurance, also called last survivor or last-to-die cover, is a joint policy that pays its single lump sum only when the second of the two people covered has died, not when the first does. Couples most often use it so that money is there when an inheritance tax bill falls due.

Wondering how second death cover would work out at your two ages and health? An FCA-authorised broker, phoning you back at no charge, can put figures to it for the pair of you; request that with the form on this page.

How does second death cover pay out?

The cover sits on one joint contract and the insurer pays the amount once. Legal & General's Whole of Life Protection Plan summary (LG2588 06/2025) says it will "still only pay out the amount of cover once", and the couple picks at the outset between a payout at the first death and one that waits until both of them have died. Nothing is paid when the first of you dies, and once the lump sum has gone out the policy ends.

Each insurer's paperwork names the two options in its own way, so check which one a quote is for:

DocumentPays when the first person diesPays once both have died
Legal & General, Whole of Life Protection Plan summary (LG2588 06/2025)Joint life first deathJoint life second death
Aviva, Whole of Life Insurance+ summary (AL50007 0226)First deathSecond death
Aviva, guide to trusts (EDCO0853 0126)Joint life first deathJoint life last survivor
Zurich, Whole of Life key features (PW720505007 02/25)Joint life first event: the first person dies or suffers a terminal illnessJoint life second event: both people die or are diagnosed with a terminal illness

All of those are whole of life plans, with no end date. In Legal & General's, premiums are payable up until the death of the life insured, the plan never has a cash-in value, and the money goes to the owner or owners legally entitled to receive it, who may include trustees or personal representatives. How term and whole of life differ is in term vs whole life insurance, the whole of life varieties are in types of whole of life insurance, and who can take out a joint policy at all is in what a joint life insurance policy is.

Why do couples take second death cover for inheritance tax?

It comes down to timing. Under GOV.UK's guide to inheritance tax (last updated 8 November 2024), tax is normally not due on an estate worth less than the £325,000 threshold, or where everything over that threshold is left to a spouse or civil partner (or to a charity or a community amateur sports club). A married couple or civil partners can pass any threshold the first of them did not use to the other, and the standard 40% rate falls only on the slice of an estate above the threshold. HMRC's rates page (updated 6 April 2026) shows the threshold at £325,000 from 6 April 2009 to 5 April 2031.

Legal & General's summary makes the link for couples. Anyone taking its plan on a joint basis for inheritance tax needs the second death option, it explains, since tax may not be payable when an estate goes to a spouse or registered civil partner who is UK domiciled, so a bill may only arise when the second person covered dies. A first-death policy could pay out at the point where there may be no tax to meet, and then end. How the cover fits with gifts and the size of a likely bill is set out in whole of life insurance and inheritance tax.

Whether your estate would owe anything depends on what you own, who inherits and which reliefs apply, a question for a tax adviser or solicitor; this is the general position, not tax advice. Royal London's adviser literature (June 2026) aims its term version at customers who have substantial assets but limited cash, as a more affordable alternative to whole of life. If you plan to give assets away, gift inter vivos insurance is a separate product.

What do insurers say about putting second death cover in trust?

Without a trust the payout can itself be part of the estate, so insurers raise trusts alongside this cover, and their wording is cautious. Legal & General says: "If the policy is written under a suitable trust, the amount of cover payable on death should not form part of the estate for Inheritance Tax purposes." Zurich attaches the same condition to a policy that pays after both people have died: under a suitable trust the lump sum should stay out of the estate, and outside one it may be liable to inheritance tax.

Royal London's consumer guide (13 October 2025) covers life policies in trust generally, and its two points hold for a couple's policy as for any other: a policy written in trust "is usually considered outside your estate", and once it is in trust you cannot change your mind and take it back.

Aviva's guide deals with couples directly. Both owners must consent before a joint policy goes into trust, both then become settlors, and one of them cannot do it alone. The guide says there may be circumstances where a couple puts a joint policy in trust so that, should they die together, the money falls outside both their estates for inheritance tax, while if only one dies the survivor benefits.

Aviva adds that it cannot advise whether a trust suits you, and its guide covers England and Wales only. Which trust, who the trustees are and who benefits are decisions for you and a legal adviser. Joint life insurance in trust and what a life insurance trust is go through the choices.

If you want second death quotes that can be set up in trust, say so when the broker phones, and they can ask insurers whether it is possible.

How is second death cover different from first death cover?

The trigger is the real difference. First-death cover pays when either of you dies and then stops, leaving the survivor with nothing under that policy; second death cover pays nothing on the first death and waits for the second. That makes first-death cover a way to support the one left behind, and second death cover a way to put money in the estate or with trustees after you have both died.

The two can also differ in who is accepted. Zurich's key features let a joint life first event policy start up to age 69, but a joint life second event policy up to 83, with the limit judged on whichever of you is older; an age shown as 83 means before the 84th birthday. Aviva's Whole of Life Insurance+ summary gives one range, 18 to 85 (a maximum of 64 if you add its benefit protecting premium payments), and says the limits are the same for a joint policy, with the maximum applying to the older person.

Whether one joint policy or two singles suits a couple better is weighed in joint vs individual life insurance.

What should you check before choosing second death cover?

  • Whole of life or term. A term policy pays only if the second death falls inside the term. A whole of life policy has no end date, but you keep paying for it.
  • Cover while an application is assessed. Aviva says its interim cover, the "protection promise", will not pay a second death policy where only one life has died during that period.
  • Separation. Royal London's adviser literature lists a separation option for people who split up, and a conversion option letting the second life move to single cover if the first dies in the term, both only for people accepted on standard terms from the outset. Divorce more widely is in joint life insurance after divorce.
  • Price. Both ages, health, smoking, the amount of cover and whether it is whole of life or term usually move the price. For background see what joint life insurance costs and what whole of life costs.

How second death pricing compares with first death at your ages is something the broker can work out for you on the free call-back. To compare providers, see how to compare joint life providers; all policy types are under types of policy.

Frequently asked questions

Is there an age limit for second death cover?

Yes. Aviva's summary allows 18 to 85 and Zurich's second event policy can start up to 83, both judged on the older of the two. For any other insurer's limit, the broker can tell you on the call-back.

Is a second death policy whole of life or term?

It can be either. Royal London's adviser literature (June 2026), for example, describes a Joint Life Second Death Term that pays only if the second person covered dies during the term of the cover.

What is the difference between joint life and survivorship?

In Aviva's trust guide, the Survivorship Option is a feature of trusts on first-death joint policies that lets the survivor receive the payout; the guide warns that this puts the first-death payout into the survivor's estate, which may leave the trust doing little for inheritance tax when the survivor dies. It is not the same as last survivor cover, so check which one a quote means.

To see second death cover priced on both your details, ask for a call-back on the form on this page, then ask the broker about first and second death versions.

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