How Does Single Premium Life Insurance Work? 
Single premium life insurance , in simple terms , means you make a one-time payment . If designed properly , the life insurance coverage will last an entire life . You can make this single payment through traditional methods such as a check or even by combining the cash value of other existing life policies . The typical purpose is to maximize the death benefit while eliminating future payments . The typical design of these policies is not favorable to accessing cash value once the payment is made . However , arecent trend has been to combine this single premium method with a rider that allows the owner to access the death benefit while the insured person is alive should a need arise to cover a home healthcare expense . This strategy provides more flexibility to the standard payout upon death . 