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Single-Premium Life Insurance

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Single-premium life insurance
A whole life insurance policy requiring one premium payment, which accrues cash value much more quickly than a policy paid in installments.

Single-Premium Life Insurance
A life insurance policy purchased with a large, lump sum payment. Single-premium life insurance may take any number of forms: it may be structured as whole life or term life, or nearly any other kind of life insurance. What distinguishes it is the one-time payment at the purchase of the policy.


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Ditto if you borrow to buy a single-premium life insurance policy or annuity.
Products most susceptible to money laundering are fixed and variable annuities, single-premium life insurance, and policy riders that permit large cash deposits, said Brian Loutrel, vice president and compliance officer at New York Life Insurance Co.
It bans the sale of single-premium life insurance, and seeks to control loan flipping by allowing refinancing within a year of origination only if doing so benefits the borrower.
 
 
 
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