Best Single Premium Insurance Plans in India

In a single premium insurance policy, you get coverage for full term by paying premium amount in a lumpsum, in one go. You will be saved from keeping a tab on renewal date and paying at a stipulated time.

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investent plan
Plans starting from ₹1000/month
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Best Investment Plans
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    Generate wealth with high returns Earn 1 Cr in maturity with Zero LTCG tax^
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    Double tax savings^ On premiums (under 80C) and on maturity (under 10(10D))
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    Compare & choose the best 30+ Plans and 150+ Fund options
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58.9 Million
Registered Consumer
51
Insurance Partners
26.4 Million
Policies Sold

Pay once and enjoy the insurance coverage forever!

You should opt for a single premium policy if:

  • Your hectic lifestyle makes it difficult to pay premiums on time.

  • You don’t have a steady cash flow to pay premiums regularly.

  • You simply don’t like the stress of keeping a tab on dates and renewing periodically.

We have come up with some of the best single premium insurance plans in India 2017 which are offering maximum returns. Let’s have a look-

LIC Jeevan Vriddhi

The risk cover is in the multiple of premium chosen by you. The policy can be surrendered after the first year with a payback up to 90% of the single premium.

Duration 10 years
Minimum-Maximum entry age 8-50 years
Minimum Sum Assured Rs 1,50,000
Maximum Sum Assured No Limit
Minimum Premium Rs 30,000

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer. Tax benefit is subject to changes in tax laws. *Standard T&C Apply

ICICI Pru iAssure Single Premium

It is a non-participating single premium plan that assures guaranteed returns and offers a life insurance cover to take care of your loved ones after your death. 

 

Duration 5 or 10 years
Minimum age at entry Duration (Years) Age (Years)
5 13
10 8
Maximum age at entry 70 years
Minimum age at maturity 18 years
Maximum age at maturity Duration (Years) Age (Years)
5 75
10 80
Minimum  Sum Assured 125% of single premium
Maximum Sum Assured Age at entry Sum Assured (% of single premium)
Up to 55 years 500%
56-70 years 125%
Minimum Premium Rs 20,000

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer. Tax benefit is subject to changes in tax laws. *Standard T&C Apply

AEGON Religare iMaximize Single Premium Insurance Plan

Offering 3 investment funds choice, AEGON Religare aims to maximize your investments. It has no allocation charges and thus, more funds are available for investment purpose. The plan also allows partial withdrawal.

Duration 5 or 10 years
Minimum-Maximum entry age 8-60 years
Minimum-Maximum Maturity Age 18-65 years  
Available Policy Term Age at entry Policy term
Up to 50 years 10 years
More than 50 years 5 years
Minimum Sum Assured Below 45 years Greater than or equal to 45 years
125% of the single premium 110% of the single premium
Minimum Premium Rs 1,00,000  

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer. Tax benefit is subject to changes in tax laws. *Standard T&C Apply

Max New York SMART Steps Single Premium

It is a ULIP plan designed to meet your child’s future needs. You can choose an investment option out of the available 5 fund options.

Life insured under the policy Parent
Age of the life insured 21-50 years
Age of the child 91 days- 15 years
Maximum Maturity Age (Life insured) 60 years
Policy Term Minimum Maximum
10 years 25 years
Premium Bands Band 1 Band 2
Rs 50,000-Rs 2,99,999 Rs 3,00,000 and above
Sum Assured Single Premium X 5
Minimum Premium Rs 50,000
Allocation Charges Depend on the premium brand chosen  

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer. Tax benefit is subject to changes in tax laws. *Standard T&C Apply

HDFC Life Single Premium Pension Super

It is a ULIP plan that creates a corpus over the policy term to produce post-retirement income.

Duration 10 years
Minimum entry age 40 years
Maximum entry age 75 years
Maturity Age Minimum Maximum
18 years 65 years
Maturity Benefits 101% of single premium

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer. Tax benefit is subject to changes in tax laws. *Standard T&C Apply

Remember in a single premium policy, tax benefits are available only in the first year when the one time premium is paid. Read the policy documents carefully before final purchase. Single premium plans are nothing but simply a plan differentiated on the mode of payment. If you are unable to pay in one go then you must opt for plans that offer flexibility in payment modes. Compare at PolicyBazaar before making final decision on one time premium insurance purchase or for choosing best investment options for getting high return on you saving.

Past 5 Year annualised returns as on 01-07-2024

^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.

*All savings are provided by the insurer as per the IRDAI approved insurance plan.

Tax benefit is subject to changes in tax laws. Standard T&C Apply
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.

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