Some of the largest life insurance cases in your pipeline are not new prospects, they are sitting inside your existing clients’ old policies and underperforming accounts right now.

Single-premium and large single-pay life insurance allows a client to deposit one lump sum and immediately secure a guaranteed death benefit that is often two to three times that amount, paid income-tax-free to their beneficiaries. The best candidates are clients with old whole life or universal life policies with stale cash value, deferred annuities they do not need for income, or liquid savings sitting in CDs and money markets earning minimal interest.

The single best question you can ask in any financial review: “Do you have any old life insurance policies or annuities you have not looked at recently?” That one question surfaces opportunities consistently.

When a client has an existing policy or annuity with accumulated cash value, a 1035 exchange under the Internal Revenue Code allows them to move that value into a new single-premium policy without triggering a taxable event on any gain.

This means the surrender value of an old, underperforming whole life or universal life policy becomes the funding mechanism for a new, guaranteed death benefit that is often larger than what the old policy provides with no ongoing premium obligation.

Run the comparison in Quote & Apply using the single-pay option and the client’s estimated surrender value as your premium input. Then stack multiple carriers side by side to find the best leverage ratio for the client’s age and health class.

For the product itself, you have two primary options depending on the client’s goal. A Guaranteed Universal Life (GUL) is engineered purely for maximum guaranteed death benefit at the lowest cost a No-Lapse Guarantee locks that death benefit in for life regardless of interest rate changes, with nothing more for the client to manage after the single premium is paid. A Protection IUL with a No-Lapse Guarantee adds indexed crediting potential, meaning the cash value can grow in positive market years while the guaranteed death benefit remains contractually protected. When evaluating either product, confirm the NLG extends to at least age 95 (ideally 120 for younger clients).

Document every step in BOSS – quotes, case notes, and the 1035 exchange flag so the servicing team can coordinate with the releasing carrier. These cases move efficiently when managed through BOSS from the start.

Want the full Agent Edge article on this topic, including carrier comparison tables, a complete candidate checklist, and a step-by-step case-building workflow?

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