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The most common type of single premium life insurance policy or quotes is the 1035 Tax-Free Life Insurance Exchange Or Rollover Cover. Such kind of coverage is usually secured for protecting cash value in some older policy in case policy holder does not want to pay premium. By securing a low cost single premium insurance quotes for insuring life, policyholder has the chance to transfer the cash value of an existing cover to an altogether new paid-up policy without paying any tax.
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A life insurance coverage in which lump sum cash is paid to beneficiaries upfront in the form a guaranteed payment is called a single premium life insurance policy. In this type of a life cover money that is invested guarantees sizable benefits and there could be no tax on the proceeds. However, while researching various available options at your disposal for single premium life insurance quotes, it is necessary that you educate yourself on the subject and make an informed decision.
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