Best Single-Premium Life Insurance Companies (2025)

State Farm, Northwestern Mutual and MassMutual are MoneyGeek's highest-rated single-premium life insurance companies. We based these rankings on data from J.D. Power, AM Best, NAIC and MoneyGeek affordability scores.

Single-premium life insurance requires a one-time payment to fund a policy completely, providing life coverage with a guaranteed death benefit. These policies work well if you can afford the upfront cost and want immediate death benefit protection.

Single-premium policies also maximize cash value growth through capital appreciation over time. You can use this cash value to fund future expenses like retirement or college tuition.

Buying life insurance with a single premium can be a smart strategy if you have cash on hand and want guaranteed lifelong coverage. This guide breaks down how single-premium policies work, who they're best for and how to compare providers. Whether you're looking to simplify your financial planning or pass on a tax-efficient legacy, the sections below will help you choose a policy that aligns with your long-term goals.

Finding the best single-premium life insurance policy requires a strategy to make the most of your substantial investment. Here are some tips to guide you through the process:

By following these steps, you can navigate the options and find the best single-premium policy that offers financial security and meets your needs.

To find a single-premium life insurance calculator, you can typically start with the following:

These resources can help you understand how a single-premium life insurance policy might fit into your financial strategy, helping you make a well-informed decision.

Single-premium life (SPL) insurance is a type of permanent life insurance that provides a guaranteed death benefit with a one-time lump-sum payment. This single-payment life insurance simplifies estate planning by eliminating recurring premiums and immediately accumulating cash value.

SPL insurance works well for those with significant wealth who want to streamline their estate planning. The upfront payment ensures financial security for heirs without the ongoing responsibility of regular premium payments.

When evaluating a one-time payment life insurance policy, consider both its benefits and challenges. Single-premium life insurance offers a unique way to secure your financial future but requires careful assessment of its specific factors.

A single-premium life insurance policy can work well for estate planning or if you're working with a financial advisor, but it may not be suitable for everyone due to its high cost.

Because single-pay life insurance requires a one-time payment, it may not fit those wanting to make continuous investments or who can only afford the minimum. The high initial cost can strain those with limited cash, and the lack of contribution options and high surrender charges may disadvantage those expecting financial changes or needing emergency funds. If flexibility and lower upfront costs are a priority, other life insurance products may fit your needs more effectively.

Single-premium life insurance is a powerful option for those who want lifelong coverage without ongoing payments. It offers immediate death benefits, potential cash value growth and estate planning advantages. State Farm leads with strong overall performance, while Northwestern Mutual offers strong customer experience and MassMutual provides cost-effective options. If you have the funds for a one-time payment, compare features and benefits to find the policy that fits your long-term financial goals.

We answer common questions about single-premium life insurance.

Why Trust MoneyGeek? We analyzed 1,488 life insurance quotes alongside customer satisfaction, financial stability reports, product offerings and more to determine the best life insurance companies for living benefits.

MoneyGeek created a scoring system to compare life insurance companies across five categories and ranked them based on their scores. We chose to review these companies based on their broad national coverage and ability to provide an online quote.

In our scoring system, companies can earn up to five points in each of the five categories below. We then use these category scores to calculate an overall MoneyGeek score out of 100. We applied the following weightings to score insurers:

• Affordability: 30%
• Financial Stability: 25%
• Buying Process: 20%
• Customer Satisfaction: 15%
• Product Diversity: 10%

Each company's score incorporates the following:

• Cost data obtained through online quotes
• Financial strength ratings from AM Best and number of years in business
• Customer satisfaction data from the National Association of Insurance Commissioners (NAIC) customer complaint index (we reviewed annual complaint data from 2020 to 2022, the most recent year available)
• Availability of tools to aid in the buying process, such as online product materials and multiple payment options
• Diversity of life insurance products offered

Sample Customer Profile

MoneyGeek used a standard profile to obtain life insurance quotes:

• 40-year-old man
• Non-smoker
• 5 feet 11 inches tall and 175 pounds
• Strong health rating

Premiums are based on the standard profile unless otherwise noted.

We modified the profile by age, gender, height, weight, tobacco use, health rating and geographic location to collect a variety of quotes and determine the best life insurance company for several types of customers. We collected quotes for term life insurance with varying term lengths and coverage amounts as well.

We identified trends in the data set and used those patterns to calculate projections and extend the data beyond what was originally collected.