Single Premium Par Whole Life

[shooter]

Thanks for all the input.
I will be contacting a few of the companies you guys brought.up.

This is what makes this forum great.
Real world answers to questions, plus some give and take
between Posters.
Thanks again, and be safe.
Shooter

 

[Allen Trent]

and receive a dividend.
Since it is tax free.

Note--this is not accurate on a Single Premium Policy funded from cash/checking as it is a MEC, making any dividend, partial surrender of PUAR, even a loan, even pledging as collateral at the bank or even change of ownership to be a taxable event ---likely not taxable in first few years as there wouldn't yet be a gain.

Other than that, SPWL is an awesome alternative for lazy money parked in low interest accounts that the senior clients have no specific plans for that are mostly "hope they never need emergency funds". great leverage to maybe double or triple the asset in the form of the death benefit, etc

I work with one of the best products, but it is only Michigan & actually only through captive multiline agents. 75% of the money goes into the liquid PUAR fund & 25% in the base policy. This helps the client know it is there if they need it & don't need to borrow it, but I can only count 2 times in 20 years clients have taken the money out because it has always been doing better than the other safe alternatives available.

good luck.