What Is Single-Premium Life Insurance?

If you have a substantial sum of money that is sitting idle and want to invest it in return for significant benefits, then single-premium life insurance is the perfect insurance product for you. With the unique feature of funding the policy with a single payment, the insurance plan guarantees that you can receive complete death benefits coverage, immediately.

The Single-life Premium Insurance plan enables its beneficiaries to finance their long-term care. Some of its policies provide policyholders with tax-free access to the death benefits. Such policies allow you to withdraw the money to pay for your living expenses. However, such withdrawals are often discouraged as it can decrease the death benefits as originally planned.

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Key Features Offered By The Policy

  • Immediate increment of the asset’s worth

  • Return of premium guaranteed, if no withdrawals are made

  • Accumulates tax-deferred on cash value

  • Receive financial assistance from the accelerated death benefit, if the insured is diagnosed with a terminal illness

  • Bypasses most probate, when there’s a named beneficiary

What Makes Single-Premium Life Insurance A Worthwhile Investment?

Offers long-term care insurance

Due to various health conditions, some individuals are unable to perform their activities of daily living, also known as ADL. If you are diagnosed with such a disease, you can benefit from the single-premium life insurance policy to receive monetary assistance for long-term care.

Assists with terminal illnesses

A change in our life can happen to us at any stage. Your health may severely deteriorate because of incurable disease or terminal illnesse. In a case where it is expected that life expectancy is below 12 months, the policyholder can apply for one of the features of the policy known as an accelerated death benefit.

Perfect choice for today’s youth

If you are young and seeking a plan with a high-value coverage at a low and immediate cost, then single-premium life insurance is a great option. It provides steady coverage as your family grows. Get started with comparing quotes and learning the benefits.

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