Single Premium Life Insurance

Create an instant legacy! Single premium life insurance allows you to obtain insurance with a death benefit guaranteed to remain paid up for the rest of your life for one single premium payment.* The size of the death benefit depends on the amount paid into the policy and the age and health of the insured.

Features and Benefits:

  • A one-time premium payment provides permanent protection
  • Payout upon the death of the insured is income tax free (under current law)
  • A cash value exists as soon as your policy becomes effective
  • The gains on the policy’s cash value grow on a tax-deferred basis
  • The policy is protected from creditors
  • Some policies will give you tax-free access to a portion of the death benefit to pay for long-term health care expenses

For help in deciding what type of insurance best meets your goals and objectives, our Financial Advisors have the know-how to help you navigate the world of insurance. Call us today at (800)392-3009 to schedule an appointment with a Financial Advisor or visit a People's United branch and ask to see one of our life insurance licensed employees.


Related Information


Disclaimer


*Loans and withdrawals will have the effect of decreasing the death benefit. Guarantees are subject to the claims-paying ability of the insurance carrier.  Single premium life insurance policies are generally considered to be modified endowment contracts (MEC)s. Withdrawals from the policy may be subject to unfavorable tax treatment prior to age 59 1/2. So if you are under age 60 and plan to withdraw money from the policy for expenses other than long-term care, this type of policy is probably not a good choice for you. 


Investment and Insurance Products:

  • Not Insured by FDIC or any Federal Government Agency
  • Not a Deposit of or Guaranteed by a Bank or any Bank Affiliate
  • May Lose Value

Investment and insurance products are offered through People’s Securities, Inc., a Broker/Dealer, member of FINRA and SIPC, an insurance agency and a registered investment advisor. People’s Securities, Inc. is a subsidiary of People’s United Bank, N.A. Investment products may involve risk, including possible loss of principal.

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