Question

A combination policy that provides a large death benefit to be paid upon the death of the last insured, and is typically utilized to pay estate taxes is called:

Answer 1

A second-to-die life insurance policy is a combination policy that provides a large death benefit to be paid upon the death of the last insured and is typically used to pay estate taxes.

Step-by-step explanation:

The combination policy that provides a large death benefit to be paid upon the death of the last insured and is typically utilized to pay estate taxes is called a second-to-die life insurance policy. This type of policy is commonly used by couples who want to provide financial protection and cover their estate taxes for their heirs. With a second-to-die policy, the death benefit is paid out when the second insured person in the policy passes away.