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Single-premium lifetime insurance policy provides any earnings-tax-free dying benefit to your beneficiary, charity, or favorite cause, and remains easier to qualify for - medically speaking - besides other types regarding life insurance policy.

Difficulty: Moderate Directions

Things You'll Need:

Lifetime Insurance

File Cabinets

Before You Purchase

2 Research strategies for passing your estate to your heirs along with maximum tax benefits.

3 Totally research the integrity of each charity or special lead to you might be considering as beneficiary.

4 Perform a seek for some qualified, qualified insurance agent to assist you on choosing any company plus applying for a policy.

Apply for the Policy

1 Determine the amount of money you wish to deposit since a single premium.

2 Look at the type of insurance that reflects your tolerance to risk: There are basically three types of insurance policy policies when categorized by this criteria: total life (most certify - small-risk tolerance), universal life (various guarantees - moderate-jeopardy tolerance), plus variable universal life (least guarantees - large-risk tolerance].

3 Get any printed illustration from your agent showing how much life insurance policy your single premium will purchase plus how the contract works.

4 Have your factor talk with your tax advisor to make indeed all tax issues are accommodated.

5 Fill out the application for insurance, providing thorough facts about your doctor and any recent hospital visits.

6 Read carefully all disclosure and permission statements prior to signing.

7 Read your scheme carefully when it arrives, and file it by means of other important legalised documents. Return the policy instantly if you uncover any errors.

Suggestions & Warnings

Take into account applying to more other than one insurance policy company to secure the most confront value for your one premium.

With this type of policy, the insurance policy company's financial strength is especially important.

Make a duplicate of with least the title pages of your policy also give it to your family attorney or additional trusted individual hence that is with least 1 other person is informed about the agreement.

Choose a scheme type that will take additional premiums if you think you might desire to deposit additional money later to increase your benefit.

Be informed that is being sales commissions on this type of policy are small, so follow-up assistance from your agent will be minimal.