Now Available: Quoter for Single Premium Whole Life
Great opportunities for low-cost prospecting and nearly limitless ways to start conversations are at your fingertips with our new quoter for Single Premium Whole Life insurance. Introduce your clients to a flexible product that can provide tax breaks, living benefits and more:
- Immediate increase in estate value with no future premium payments
- Tax-deferred accumulation of cash value1
- Access to cash values at any time through policy loans2
- Optional Accelerated Death Benefit Rider gives clients the option to access a portion of their death benefit if they’re diagnosed with a chronic or terminal illness3
That’s far from all – Single Premium Whole Life from Assurity is perfect for anyone who wants to leave a legacy for their loved ones. Check out our site for the online quoter and more.
1. Early-year cash values will be less than the premium paid. The policy loan interest rate will vary. Policy loans and withdrawals reduce the death benefit.
2. Under current tax law, SPWL is a “modified endowment contract” (MEC); this means increases in cash values are tax deferred until they are withdrawn. However, borrowing funds or withdrawing dividends from the policy results in a “taxable distribution” – the earnings or gain become taxable first as income. If the insured is under age 59½, the IRS also imposes a 10 percent penalty on the taxable gain.
3. Accelerated Death Benefit Rider is included in states where allowed. The chronic illness benefit is included through issue age 75.