lifeismylife76
Super Genius
Anyone know of a carrier that would write a 31 year old a Single Premium Whole Life Insurance Policy?
SPWL Age 31
- Thread starter lifeismylife76
- Start date
- 10,688
Penn Mutuals WL can be designed as a single premium.
Mass used to have a spwl that would fit, not sure if they stiill offer it.
Mass used to have a spwl that would fit, not sure if they stiill offer it.
- 1,411
You better move your butt fast, Sagicor is PULLING it's no lapse UL on Friday.
- 389
You can get a whole life single premium with Mutual Trust Life
0-85 with a face amount of 5,000, not premium, but face.
I believe it may be a par product as well.
Shooter
0-85 with a face amount of 5,000, not premium, but face.
I believe it may be a par product as well.
Shooter
Sagicor is not WL.
- 4,082
Wouldn’t an annuity do the same thing?
It won't create the immediate leverage on the DB and it is taxable as OI vs tax-free.
A 31 yo should probably be putting their money in their roth, investing in MFs and equities or at least a non-mec life policy.
Not going down that road since OP didn't ask but there are probably much better options overall.
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- 1,411
No, it's No lapse UL. But the PREMIUM and FACE AMOUNT are fully guaranteed. So what's the difference?
The cash value in the SPWL. You can often get your money back (and much more) should you have a change of heart, need the money, etc. and/or have a higher DB at life expectancy than GUL (assuming you use a decent participating policy).
A GUL is not the same as WL in many ways.
- 10,688
Goes to show why taking advice from a non-agent is dangerous. Major differences in risk to the consumer between the two products.
