A wide variety of SPL policies also consists of a feature that will let you remove part of the death benefit if you are clinically diagnosed with a critical illness and have a life expectation of 12 months or less. (lifeinsure.com)
As a result, withdrawals from SPL policies are now taxed as ordinary income, the same as annuities. (bankrate.com)
Also, you will have to meet the life insurance company's medical underwriting standards to qualify for SPL insurance policies. (term-life-online.com)