Factors to Consider when purchasing Single Premium Life Insurance.
- Annuity alternative
- Immediate estate increase
- Avoid annuity tax trap at death
- Taxed like an annuity during life – tax free cash growth
- Taxed as life insurance at death – tax free distributions
- Bypass probate
- Can supplement retirement income
- Contingency fund for long term care needs
- Reserve for other retirement emergencies
- Funded by a specialized life insurance policy