There are a number of life insurance plans out there for you to choose from. Each of them have their own characteristics. If you’re looking at single whole life insurance plans you may be wondering what makes them different from other options. Here are some benefits of this plan type.
These plans work much like any regular life insurance policy with one exception. You only need to make one premium payment to receive the full coverage. Other benefits include the wide range of people applicable for one of these policies. Companies accept infants all the way to the age of 85. Other benefits may include optional riders for purchasing additional coverage, dividends, creditor exemptions, and a growth of cash values. In many cases single life policies may be available for up to four million dollars at their face value. However, there are many plans to choose from so you can find an amount that works best for your life insurance needs.
There are a number of benefits to a single whole life policy. These include the ability to apply for the policy from infancy up to the age of 85, to a single premium payment. An insurance agent can tell you more about plan options, and help you find the right option for your needs.