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. 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.

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. 

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.

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.

HDFC Life Single Premium Pension Super

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

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.