Single Pay Whole Life
Offers guaranteed death benefit protection and cash value accumulation with no future premiums.
Guaranteed Premium
One-time premium payment
Minimum Death Benefit
$25,000 for issue ages 0-44
$35,000 for issue ages 45-85
Single Pay Whole Life in action
Carol, 58, a mother of three and grandmother of seven, has $60,000 that has not been earmarked for other purposes. She’s proud of having been able to save some of each paycheck during her 35 years as a teacher, and now has a purpose besides having an emergency fund. She’s not sure exactly what her grandchildren’s dreams will be, but she is sure she wants to help them and be a part of their success. Her goal is to increase the amount she would be able to leave her children and grandchildren.
Solution:
Using the financial power of Single Pay Whole Life (SPWL), with a single payment of $60,000, Carol can purchase $121,0321 of guaranteed death benefit.
Immediately, she has more than doubled the amount she will leave to her family! Additionally, Carol’s policy has an immediate cash value of more than $54,000 – more than 90% of her initial payment – so she has the flexibility to take policy loans2 if her situation changes and other priorities become more important.
Please note, single premium life insurance is usually a modified endowment contract (MEC). An accountant or attorney should be consulted regarding individual&bsp;circumstances.
