What Does a Single Premium Life Insurance Policy Cost?

Single premium life insurance is a type of life insurance plan that you make one single payment for and then you have guaranteed life insurance coverage for your entire lifetime without having to to pay anymore money.

Because of this, the minimum premiums can be high, for instance, most single premium life insurance policies have a minimum premium of $10,000.

However, keep in mind, your coverage is guaranteed for the your entire lifetime, and you pay no more money.

So, for instance, someone age 35 may be able to buy up to $50,000 of single premium whole life insurance for $10,000. What this means is you have paid $10,000 so that your beneficiary will receive $50,000 tax-free upon your death.

That's a guaranteed payout of 5 times on your money without any taxes. So, some may consider this a good bet.

And, single premium whole life insurance policies may build up cash value inside your policy over time, from which you may take a loan if needed.

Here's how you can learn more about single premium life insurance and request your free quote today.