Is Single Premium Life Insurance Right For You?
November 25, 2020 by Tony Steuer, Amy Danise
ife insurance policies typically have ongoing, regular premium payments. Single premium life insurance policies are specifically designed to be funded by one single premium payment. You may be attracted to the features and benefits of single premium life insurance.
Almost any universal life, variable universal life or indexed universal life insurance policy can be funded with a single premium, even if it’s not officially sold as a “single premium life insurance” policy.
But other policies are sold specifically with one premium payment. These single premium life insurance policies provide a guaranteed death benefit for a set period of years or age, depending on the policy.
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