1. 3998 POINTS
    Matt Benore
    Founder, DenverWest Insurance Professionals, Inc.,
    Selling single premium whole life insurance is for someone who has a lump sum of money wanting to purchase life insurance.

    These larger sums give you immediate cash value along with the death benefit. In many cases these products are simplified issue meaning minimal underwriting is necessary. The typical client I see using this product is 45 and up and of course has some liquid funds available.

    This is not for everyone however. Other insurance products may be a better choice. For marketing material and more information do not hesitate to contact me.
    Answered on November 6, 2014
  2. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    When selling single premium whole life insurance, you can go at it from two ways. One is to find your client the highest face amount for the cash they have on hand. This involves looking at their health and other risk factors, and comparing products from different companies, to determine where they can get the most bang for their buck. The other way is to find their best quote for the face amount they want, just as you would do for them if they were paying on a regular basis.
    Answered on November 6, 2014
  3. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    A single premium whole life insurance policy is the lowest net cost policy available at a given age. It compares favorably with a Certificate of Deposit. It is an excellent way for a retiree to provide legacy gifts without the strain of trying to retain assets to pass to heirs. It has been sold in the past because of its return.
    Answered on November 6, 2014
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