The Return of a Classic: Why Single Premium Life?

In the face of rising long-term care costs and uncertainty around retirement planning, many retirees are asking a simple but critical question: “What happens if I—or my spouse—gets sick?”

Enter Single Premium Life Insurance — a powerful tool making a big comeback for today’s retirement-minded clients.

​Double-Duty Dollars: Protection with Flexibility

Single Premium Life (SPL) policies aren’t just about leaving money behind. They do double duty:

• Tax-Free Death Benefit: Your client deposits a lump sum (typically from idle CDs, savings, or underperforming assets) and instantly turns it into a larger, tax-free death benefit for their beneficiaries.
• Chronic Illness Access: If they become ill and are unable to perform 2 out of 6 Activities of Daily Living (ADLs), they can access a portion or even the full death benefit while living, tax-free, to pay for home care, assisted living, or nursing home costs.

Peace of Mind: Always Stay in Control

​Unlike traditional long-term care insurance that can feel like a "use it or lose it" gamble, SPL offers:

• Return of Premium: If needs change, your client can walk away with their initial premium returned, in many cases without penalty.
• No Medical Exams: These are simplified issue policies — meaning no needles, no doctors, and no hassle. Online underwriting makes the process easy and efficient.

Why Now?

Today’s retirees are financially smarter than ever. They're looking for leverage — how to turn one dollar into multiple uses. SPL does exactly that:

• Leave a legacy.
• Cover a crisis.
• Maintain control.

And with long-term care costs averaging $4,000–$9,000/month, the question becomes not “Can I afford coverage?” but rather “Can I afford not to?”

My father, Raymond J. Ohlson, who founded The Ohlson Group, put out a 10-minute video on this topic called "The Laughing Banker". This video has been viewed over 14,000 times - Check it out here as the information and sales ideas are on point even in today's environment!

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​​Until Next Time – Good Selling! 

​Joseph R. Ohlson LUTCF
President
1-877-844-0900
[email protected]