Single premium whole life insurance is a life insurance option that allows you to obtain a whole lifetime of coverage with one single premium payment.
Rather than making continual payments over the years, you can pay one lump sum to attain nearly twice that amount in coverage. Buying this coverage will ensure that your family will have the money to pay your final expenses, and also to maintain their current lifestyle after you are gone.
A male at age 62 who is a non-smoker could pay a single premium of $54,341 and receive $100,000 in coverage with a single premium whole life policy. That is nearly twice the amount in coverage that he would pay in his one-time premium! Additionally, a non-smoking female at age 72 could pay $32,969 and get $50,000 in coverage.
These days, the average funeral and burial combined can cost as much as $30,000. To most American families, this is hard to afford. Maybe you have $40,000 in the bank, and you’re thinking your family could use that money to pay for the funeral and burial. But, what about your final expenses, like outstanding debts and medical bills? Do you want your children to be able to go to college? Is your mortgage paid off? While you would, in this situation, leave your family with approximately $10,000, that money would be eaten up quickly by other unexpected expenses.
However, if you were to take that $40,000 and buy a single premium whole life policy, you would nearly double the amount you would leave your family, getting approximately $67,500 in coverage! With this extra money, your family would be able to pay your final expenses and also have money left over to maintain their current lifestyle. You have the opportunity to double your money for your family – why not do so?
For a FREE single premium whole life quote, please fill out the form to your right to get started on developing a plan that will fit your coverage needs and your budget.
By submitting a quote request you acknowledge and agree that this is neither an offer to insure nor a guarantee of insurance. All benefits are not available in all states. All coverage information provided by Independent Life & Disability agents representing multiple A.M. Best “A” rated carriers offering specialized Mortgage Protection Products. Not affiliated with, authorized by or endorsed by any lending institution. No insurance coverage shall be construed as bound, in force, applied for or assumed as a result of submission of information.
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