Single premium life insurance policy

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A person buying a single premium life insurance policy gets life insurance coverage, an investment and a source of funds for long term care. A single premium payment of, for example, $50,000.00 may, depending on your age, pay a death benefit of $l50,000.00. From that death benefit amount 2% may be withdrawn per month to pay for the cost of Nursing Home Care during your lifetime. In addition, there are income tax benefits to the policy and over time its value and the death benefit increase.