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Single premium term plans – Should you opt for them?

Those with a regular income stream may be better off with regular premium term plans. But those with uncertain cash flows can opt for single or limited premium term plans.
If you're planning to buy life insurance, should you opt for single premium cover?

Single premium policies offer lower premium rates compared to regular payment policies and also provide higher death benefits. However, tax benefit on these plans will be applicable only for the year in which you make the one-time payment.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347