A one-time premium insurance plan requires an upfront lump-sum payment. It is preferable when you have a considerable amount of money lying idle. It could be a windfall gain or inheritance or a gift. It is ideal for people who want financial protection but are not very keen to invest in market-linked products. Salaried-class people will, however, find it easier to service a regular term insurance plan. In a nutshell, if you have surplus cash or are not confident of meeting recurring premium commitments, single-premium policies should be your first choice.
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