lady enjoying saving on their life insurance policy
Single Premium Whole Life

What is whole life?

Whole life is a specific type of life insurance that insures the individual for their entire lifespan. While some other types of policies may only provide coverage for a set amount of time, such as ten or fifteen years, whole life does not have a limit.

Single Premium

Single premium whole life policies are unique in that they are only paid into once. After the premium has been paid, there is no need to continue paying and the coverage will continue. This is an excellent option, as it does not require the individual’s continual financial engagement.

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Why choose single premium whole life?

If you’re looking for a permanent option that will provide a death benefit no matter your age, you should consider this type of plan. If you have financial uncertainty and are not sure you’d be able to make monthly premium payments, this type of policy may be an excellent option to avoid those bills and secure life insurance now.

Many policies, including single premium whole life, will most likely require medical underwriting. Be sure to carefully read the requirements when applying and be open and honest about your health history.

If you’re wanting to learn more about the different types of life insurance available, make an appointment to speak with one of our professionals. We understand that making insurance decisions can be confusing, so we’re always here to offer support and answer any questions you may have.