Single Premium Whole Life Insurance Policies
Single Premium Whole Life
Are you planning for a secure retirement and eventual transfer of your estate to beneficiaries? You do not have to be 
very wealthy to plan for this. Let us look at one product that is becoming more noticed these days with advisors and people who are doing estate planning. It can help turn one amount of money into a larger estate to leave behind. This product is called single premium whole life (SPLI).
Life Insurance For Older Americans
Why Do Older Americans Buy Life Insurance?
You may think that older people have outgrown life insurance. After all, kids should be grown, houses paid off, and 
savings built up? Those are nice thoughts, but are probably not the reality for many middle aged and retired people in the US. Recent financial problems have probably cut into savings and investments, and they may have even delayed paying off a home! In addition, many grown children are having their own financial problems, and they are even returning to their parent’s home. Sometimes those grown children bring their own kids with them to live with the grandparents. Clearly, older people in the US still have plenty of responsibility!
What Is Whole Life Insurance?
Define Whole Life Insurance
- Permanent Life Insurance – The policy will cover you as long as it is kept in force. (Paid for or paid up). Term life insurance policies expire after a set period of time.
- Premiums and Death Benefits are Fixed over the life of the policy.
- Life Insurance Cash Value can be accumulated over time which can be borrowed against or cashed in. Part of the premium pays for insurance, but the rest can build up the cash value which can also earn interest or dividends. Some people think of whole life as a combination of insurance and savings.
