Single Premium Life Insurance

Life insurance policies can be an extremely complex and overwhelming thing to the average American family. If you are in especially tight economic circumstances, or if you have a decent amount of savings but are unsure of your future income potential, there may be a life insurance plan out there made just for your particular set of circumstances: Single Premium Life Insurance.

Single premium life insurance allows policy holders to pay a lump sum payment up-front and then receive a policy that is in effect for a set premium level for the rest of the life of the policy holder.

Income Tax Free Benefits

Most single premium life insurance policies offer the benefit of payouts that are not taxable by federal or state tax authorities. This means that you guarantee a specific payout to your beneficiaries in the event of your death, whenever it is.

The Earlier You Buy, the Better the Benefit

With single premium life insurance, the younger you are and the larger benefit you purchase are the two factors that determine what you pay. If you are a male that is 50 years old, and you put down a single premium of $100,000 for life insurance, you guarantee that your beneficiary will receive $400,000 upon your death, tax-free.