Single premium life insurance is designed for one large lump premium payment for your life insurance. This can be very expensive, but in exchange for your one payment, you'll be insured for the rest of your life. You are usually allowed to borrow against the cash value of your life insurance policy, but before you make any withdrawals, find out how this will affect how the policy will be taxed. Consult an insurance agent in your area for more information about single premium life insurance.
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