Single Pay Whole Life
Offers guaranteed death benefit protection and cash value accumulation with no future premiums.
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.
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.