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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.
Guaranteed tax savings
Under sec 80C & 10(10D)
₹1 Crore
Invest ₹10k per month*
Zero LTCG Tax
Unlike 10% in mutual funds
All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
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- Best Single Premium Insurance Plans in India
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.
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
Written By: PolicyBazaar - Updated: 02 July 2021
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Investment Plans Insurers
Aditya Birla Sun Life Traditional Plans
Aegon Life Traditional Plans
Aviva Traditional Plans
Bajaj Allianz Traditional Plans
Bharti AXA Life Traditional Plans
Canara HSBC Traditional Plans
Edelweiss Tokio Life Traditional Plans
Exide Life Traditional Plans
Future Generali Traditional Plans
HDFC Life Traditional Plans
ICICI Prudential Traditional Plans
IDBI Federal Traditional Plans
IndiaFirst Traditional Plans
Kotak Life Traditional Plans
Max Life Traditional Plans
PNB MetLife Traditional Plans
Pramerica Life Traditional Plans
Reliance Life Traditional Plans
Sahara Life Traditional Plans
SBI Life Traditional Plans
Shriram Life Traditional Plans
Star Union Traditional Plans
Tata AIA Traditional Plans
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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