Best Single Premium Insurance Plans in India

Insurance Plans in India

In a single premium insurance policy, you get coverage for full term by paying premium amount in a lump sum, 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 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

ICICI Pru iAssure Single Premium

It is a non-participating single premium plan that assures guaranteed returns and offers a life 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

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

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

 

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

Remember in a single premium policy, tax benefits are available only in the first year when the 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 insurance purchase.

Curated from Best Single Premium Insurance Plans in India

You may also like...