Single Premium Whole Life

Pay it once and you’re done!! That’s the benefit of Single Premium Whole Life Insurance.

Free yourself from worry about making ongoing premium payments and ensuring your payments are
received on time with Single Premium Whole Life Insurance. You’ll enjoy a policy with guaranteed death benefit and cash value accumulation which you can borrow from in the future to help pay for things like retirement, education or other needs.

Specifications

Issue Minimums

Non-Tobacco
Issue Ages 0-85 Minimum of $10,000

Tobacco
Issue Ages 18-85 Minimum of $10,000

Select/Select+/Select Tobacco
Issue Ages 18-45 Minimum of $100,000
Issue Ages 46-85 Minimum of $50,000

Ideal Client

Someone who wants to gift a policy to their children or grandchildren, contribute to their favorite charity, consolidate policies or find an alternative for a CD or an annuity.

Income Replacement
Supplement Education Funding
Business Buy/Sell
Retirement and Pension Maximization
Wealth Transfer
Estate Conservation
Charitable Giving
1035 Exchange

Key Features

One premium payment for a lifetime of coverage
Guaranteed protection for your entire life (up to age 121)
Guaranteed cash value accumulation which you can borrow from in the future
Accelerated underwriting for policies with a face value of up to $50,000
Participating policy that pays dividends

Case Studies

Meet Wendy

Age: 57
Income: $100,000
Family: Husband, two grown children and three grandchildren
Health Status: Good health
Goal: Lifetime protection with only one premium

Her Story:

Wendy recently retired. Her kids have their own homes, so she and her husband Jerry do not need a whole house to themselves. They decided to downsize and move into a townhouse where they will not have to manage the yard or shovel the snow. The sale of their home allowed for the purchase of the townhouse with some money left over. Ideally, they want to leave a legacy for their children and grandchildren. After talking it over with their representative, they decided that they would save a portion of the sale proceeds for an emergency fund and use the rest to purchase a Single Premium Whole Life Insurance policy for each of them.

Meet Robert

Age: 65
Income: $75,000
Family: Wife, one grown child and one grandchild
Health Status: Average health
Goal: Leave a legacy for his grandchild

His Story:

Robert wanted to ensure he was leaving a legacy for his grandchild. He decided to meet with his representative to discuss his options. Robert selected a Single Premium Whole Life Insurance Policy that provides a lifetime of protection with one single premium payment.

Product Information Sheets

To request a personalized product information sheet for Single Premium Whole Life Insurance, email our sales support team at sales@trustedfraternallife.org. Please include the product name, brand, headshot and the contact information you would like on the sheet.

Important Advisories

$50,000 minimum will be allowed if converted from Guaranteed Insurability Option for Select, Select + and Tobacco issue ages 18-45.
Single Premium Whole Life Insurance is considered a Modified Endowment Contract (MEC). As such, any distributions, including loans, may be taxable if there is a taxable gain in the contract, and must be reported as taxable income. In addition, distributions that occur prior to age 59½ may be subject to a 10% tax penalty. Therefore, it is important that Single Premium Whole Life Insurance is purchased with assets that you are reasonably confident will not be needed in the future.
Dividends are not guaranteed.
Loans will reduce cash values and death benefit. Loans are subject to a maximum effective interest rate charge of 8.0%, which if not paid is added to the loan debt. The policy will terminate if the loan debt equals or exceeds the cash value.
Like all life insurance policies, this policy and any associated riders have exclusions, limitations, reduction of benefits, and terms under which the contract may be continued in force or discontinued. For costs and complete details of coverage, contact your representative or call (800) 965-2547.

Single Premium Whole Life Insurance ICC19 SPWL; ICC19 SPWL SPN; 2021 SPWL FL and 2021 SPWL FL SPN.

15-0050-05/25

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