single premium life insurance: Single premium life insurance is a form of life insurance that's paid with one upfront lump-sum premium. Once you've purchased a single premium policy, you would receive a permanent death benefit that extends until you die.
Universal life insurance means you will pay the same premium until death, where as with term life insurance you will pay a certain premium for a period of time and then may or not be offered the same premium again for another term.
Yes, you can. It's called Single Premium Life Insurance. With single premium life insurance coverage one premium payment is made and the life insurance policy is fully paid up with no further premiums required.
explain flexible premium multifunded life ins.
Its a Universal life insurance Policy.
Some Insurance companies that offer single premium whole life insurance are K&K Insurance, MetLife and Jackson National Life. Others are Mutual of Omaha or AXA Insurance.
One can obtain premium whole life insurance through their current insurance company. Several companies such as TD Insurance and BMO Insurance, offer great rates.
Modified Life Insurance is Ordinary Life Insurance under which premiums are calculated so that the first few years of premiums are less than normal, and subsequent premiums in later years are higher than normal. This type of coverage may also be called Graded Premium Whole Life Insurance under which insurance premiums are lower than normal for the first few years, then gradually increase for the next several years until they become level for the remainder of the policy.
Return-of-premium life insurance is like an ordinary life insurance policy, but payments made on premiums are returned to the insured individual if the policy ends and they are still alive. Thus, return-of-premium life insurance policies do not punish one for outliving their life insurance. The average such policy might cost 25% to 50% more in premiums, compared to an ordinary life insurance policy.
a total cost of insurance coverage
No
Life