Jayson Lowe explains why families should split life insurance across multiple policies instead of one. If both spouses die at once, the odds are low. Separate policies mean your death benefits don't collapse into a single payout, giving your family more flexibility and control.
Why would we have more than one policy, for example, versus just flowing everything through a single policy? Why wouldn't we just do one together, so to speak? You've got to treat it like one system. It's a consolidated system that you're managing within your family or within your business, or both. One of the primary reasons we're doing that to create two policies, for example, in this scenario, is that the probability of both spouses passing away simultaneously is far less than one spouse predeceasing the other. So if we have two separate death benefits inside of the policy, knowing that you've been utilizing both policies throughout the course of your lifetime, eventually death will come. Understanding that when you have a quantity of policies, you still treat it as one consolidated family banking system.
