Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

English definition of “survivorship policy”

survivorship policy

noun [C]
 
 
(also survivorship contract) INSURANCE, TAX
insurance for owners who share a business or property which pays out only after the last owner dies, so that there is money to pay the related tax without selling the asset: Estate tax can force the heirs to the owners of a small family business to sell in order to pay the tax when Mom and Pop do not have a survivorship policy.
(Definition of survivorship policy from the Cambridge Business English Dictionary © Cambridge University Press)
What is the pronunciation of survivorship policy?
Add Cambridge dictionaries to your browser to your website

Word of the Day

bright spark

a person who is intelligent, and full of energy and enthusiasm

Word of the Day

Highly delighted, bitterly disappointed, ridiculously cheap: adverbs for emphasis.

by Liz Walter,
October 22, 2014
We often make adjectives stronger by putting an adverb in front of them. The most common ones are very and, for a stronger meaning, extremely: He was very pleased. The ship is extremely large. However, we don’t use very or extremely for adjectives that already have a strong meaning, for example fantastic,

Read More 

life tracking noun

October 20, 2014
the use of one or more devices or apps to monitor health, exercise, how time is spent, etc.

Read More