Know More about Single Premium Term Insurance

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Know More about Single Premium Term Insurance
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• Single premium term insurance policy is designed
  for those who want to buy a policy at one go. As
  compared to traditional insurance products,
  policyholders have to pay premium at periodic
  intervals for these policies.
• It is a onetime payment solution for those who
  dont want to go through the trouble of periodic
  payments. When the premium payment has been done,
  buyer becomes the policy owner with certain death
  benefits.

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• For single premium term insurance policy ,
  policyholders dont have to worry about paying
  any further premium payments or the lapse of your
  insurance if insured forget to make any payments.
• All leading insurance companies in India offer
  this insurance for the benefit of their clients
  and customers can access some policy aggregator
  portals online to know which one is suitable for
  your needs. If you have a lump sum fund with you,
  then it is advisable to opt for a single premium
  term insurance policy.
• Under this plan, policyholders get financial
  security against taxes. When person invests in
  this insurance product, he or she is given
  exemption of up to Rs 1.5 lakh. In case something
  happens to policyholder, his or her beneficiary
  would get the insurance money which is absolutely
  tax free.

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• But, insured is eligible to avail the tax
  exemption benefit only once for this policy
  because policyholder is investing in this
  insurance for one time only. As you paid up in
  full upfront for this policy, so you dont have
  to worry about the plan getting lapsed if you
  forget to pay the premium amount.
• Your policy is completely valid till the entire
  Best Term Plan and reduces the sum assured when
  the policy period comes to an end. It generates
  cash value. Person is building a financial asset
  for himself or herself when he or she makes the
  premium payment for single premium term
  insurance. It comes in handy if you want to apply
  for loan and can be used as collateral against
  loan.

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ecure-insurance-plan.jsp
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