Single premium whole life insurance provides you with lifetime life insurance coverage and a savings component that builds cash value inside the policy.
With single premium life insurance you pay only one premium amount, when you start your life insurance policy, and you pay no more premiums.
Since the policy is "fully funded" from the first day you are insured, there is cash value inside the policy from which you may take a loan in the future, if needed.
Single premium whole life insurance provides you with guaranteed lifetime life insurance coverage.
Some single premium whole life policies have a minimum premium of $5,000 or $10,000. But, keep in kind, you pay only one premium and have life insurance protection guaranteed for the rest of your life.
Learn more about single premium whole life insurance.