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Life Insurance Guide
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Single Premium Life Insurance
One payment. Lifelong insurance.
With single premium life insurance, you can rest easy knowing that you have lifelong coverage without having to worry about making ongoing payments.
Get insuranceWhat is single premium life insurance?
Single premium life insurance is a type of permanent life insurance that you pay for with a single lump sum rather than making monthly premium payments over time.
Get startedBenefits of single premium life insurance
A single payment
With a single premium policy, you don't have to worry about ongoing payments. This can be a great option if you get a lump sum of money or you want to give life insurance as a gift.
Build cash value quickly
Because the cash value of a single premium life insurance policy doesn't rise and fall with the market, it can become a unique asset as part of an overall financial plan.1
A permanent life insurance policy
Single premium insurance offers lifelong coverage and access to cash value. It's a way to plan for your legacy without having to worry about ongoing payments.
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Take our quizQuestions about single premium life insurance? We've got answers.
With single premium life insurance, you make one upfront payment and get lifelong coverage. In addition to the death benefit for your beneficiary the policy also includes cash value that can grow over time. Connect with an advisor to see if this is the right option for you.
Yes. At Northwestern Mutual, single premium life insurance is a type of permanent life insurance known as universal life insurance.
When you need to protect your loved ones and have a large lump sum of money, single premium life insurance can give you the coverage you want without having to worry about making ongoing payments. Single premium life insurance can also grow cash value in your policy over time. Ask an advisor if single premium life insurance is a good option for you.
Yes, a single premium life insurance policy has value that can grow over time.
At Northwestern Mutual, single premium life insurance policies are credited interest based on the company's performance.2
Yes. At Northwestern Mutual, our single premium life insurance is called Single Premium Universal Life (SPUL). Basically, that means it's universal life insurance, which is a type of permanent life insurance. Connect with an advisor to see is single premium life insurance is right for you.
Single premium life insurance can be a good option for anyone who would like to purchase lifelong coverage with a single payment. This includes people who find themselves with a lump sum of cash—for example, from an inheritance, insurance payout, gift, or retirement account. It's also an option to consider when giving a policy as a gift, perhaps for a child or a grandchild. Ask an advisor if single premium life insurance is a good option for you.
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The Northwestern Mutual difference
A++ financial strength rating
AAA, Aaa, and AA+—we've earned the highest financial strength ratings awarded to life insurers from all four major rating agencies.3
No. 1 ranked insurance company for consumer experience
Best life insurance company for consumer experience, 20234
5.0M+ clients at Northwestern Mutual
The number of people we're proud to call clients, and who put their trust in us.
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