The Advantages of Single Premium Whole Life
Single premium whole life insurance gives you a life insurance amount significantly above the premium amount, which immediately increases the funds you leave your heirs. Plus, the policy’s cash value growth is tax-deferred.
Single Premium Whole Life vs. a CD
Joe has $17,000 in a CD. If he uses this money to purchase a single premium whole life policy, it will immediately be worth $30,276*—a gain of over $13,000!
Joe’s CD has a 1.0% interest rate, and it will reach a cash value of $29,000—in 50 years. Single premium whole life insurance provides a much quicker way to gain value on your money. Plus, your beneficiary would receive the money tax-free!
*Assumes Joe is 65 years old and a nonsmoker.
Choosing Single Premium Whole Life Insurance Is Easy
Put your assets into action with single premium whole life insurance from Pekin Life Insurance Company. Talk to your local, licensed Pekin Insurance agent about your life insurance options.