How it works
You make a single lump-sum payment, and the policy is paid up for life — no further premiums are due.
The death benefit and cash value are established immediately, and the cash value grows over time, generally on a tax-deferred basis.
Who it's for
People with a lump sum (for example, from savings, an inheritance, or a maturing CD) who want to convert it into permanent, guaranteed-to-stay coverage and a legacy.
Those focused on estate planning or leaving money efficiently to heirs.
Important trade-offs
A single premium policy is usually classified as a Modified Endowment Contract (MEC). That changes how withdrawals and loans are taxed — gains taken out early may be taxable and could face a penalty before age 59½.
This is general information, not tax or financial advice. Because of the MEC treatment, it's especially important to review a single premium policy with a licensed agent and a tax professional.
Ready to see what may fit?
Start a quick quote, or talk with a licensed agent — no obligation, and approval is never guaranteed.