Fundamentos del Seguro de VidaPregunta 389 de 716
Single-premium whole life insurance is funded by:
a.One lump-sum payment that fully pays up the policy at issue
b.Premiums that are waived after the first policy year
c.A benefit amount that declines steadily over the years
d.Level monthly premiums paid for the insured's lifetime, as in ordinary whole life
Explicación
Single-premium whole life is fully paid up with one lump-sum payment at issue, immediately creating substantial cash value and lifetime coverage with no further premiums due. Level lifetime premiums describe ordinary whole life. A declining benefit describes decreasing term, not whole life. And there is no waiver of premium involved, since only one premium is ever paid. Because it is funded so heavily and quickly, single-premium whole life is usually classified as a modified endowment contract for tax purposes.
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Revisado por John Zihao Zhang — California-Licensed Life Insurance Agent (CA Dept. of Insurance License #4396095 — verificar)