What Is Single Premium Life Insurance? 
Single premium life insurance is life insurance that is paid with one payment . Term life insurance can not be paid with a single premium . Single premium life insurance must be a type of Universal Life or Whole Life policy . Often , single premium life insurance is purchased on the basis of how much face amount can be purchased with the lump amount of cash that the applicant has available . Other times , the applicant has a face amount in mind and pays whatever lump sum is needed to purchase that amount . 