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Second-To-Die Policy in Geneseo IL & Prophetstown IL

Ensure the Future of Your Estate.

Between physical assets and financial successes, there are many things that married couples share. Hanford Insurance Agency knows that couples today can easily accumulate wealth in the millions, which means hefty estate taxes in the event of either spouse’s passing. A Second-to-Die policy, also known as Survivorship Insurance, is a type of joint insurance that covers the lives of two people, usually married couples, where the death benefit is not paid until the death of the second insured person.

Under federal tax law*, you are permitted to leave an unlimited amount of personal assets to the surviving spouse, allowing you to postpone estate taxes until the death of the second spouse. While this lets you keep personal assets, such as home or business, within the family, it also means that your beneficiaries may be faced with paying a large estate tax after your passing.

A Second-to-Die policy from Hanford Insurance Agency gives your beneficiaries the means to pay off your estate taxes without having to liquidate the personal assets you’ve worked hard to attain. And because the policy insures more than one person, you’ll also enjoy a lower premium, and the total cost of the insurance will be cheaper than the estate taxes your beneficiaries will be liable to pay.

Due to the specialized nature of Second-to-Die insurance, some limitations may apply. It’s important to discuss your options with an insurance specialist from Hanford Insurance Agency to determine the right amount coverage for you and your family.

*Federal income tax laws are complex and subject to change. Neither Nationwide nor its representatives give legal or tax advice. Please consult your attorney or tax advisor for answers to specific questions. 

Our Locations

Hanford Insurance Agency (Geneseo)

119 S State St
Geneseo, IL 61254
Main office: 309-944-5151

Bell Insurance Services

210 N Prospect St
Cambridge, IL 61238
Main office: 309-937-3355

Cover Insurance Agency

107 W Main Street
Toulon, IL 61483
Main office: 309-286-2531

Hanford Insurance Agency (Port Byron)

103 N. Main St.
Port Byron, IL 61275
Main office: 309-848-9172

Hanford-Schuneman Agency (Erie)

734 Main St
Erie, IL 61250
Main office: 309-659-7877

Hanford-Schuneman Agency (Prophetstown)

312 Washington St
Prophetstown, IL 61277
Main office: 815-537-2301

VanDeRostyne Insurance Services

101 West Main St
Atkinson, IL 61235
Main office: 309-936-7220

Our Providers

Testimonials

"Hanford Insurance helps to minimize risk in my farming operations. Having them in my corner to offer expertise and understand my needs is a tremendous asset to my business."
Jim
I have been a client of Hanford Insurance Agency over the last several years and Every interaction with the agents has been more than positive. The personal attention you get from them is second to none. It is very rare these days to receive such excellent personal attention and customer service, I highly recommend them.
Ashley
"You can take heart in the fact that the agent isn't just trying to sell you something, he legitimately cares about his clients and their well-being."
Mike