Single Premium Whole Life Insurance
Accumulated cash value makes Whole Life policies cost-effective in the long term, and viable as an estate planning vehicle.
A type of Whole Life insurance, Single Premium Whole Life (SPWL) – purchased with a single premium – transfers assets to your beneficiaries, without federal income tax. Loans and withdrawals from a SPWL policy are permissible.*
Product Features
- Accrued cash value
- Tax-deferred accumulation of earnings
Account Benefits
- Usually pays income tax-free death benefit
- Potential withdrawals or loans on the policy
