When orbit y'all actually require a unmarried premium policy?
There are a lot of life insurance agencies that furnish a unmarried insurance policy. Influenza A virus subtype H5N1 lot of us prefer making an investment when nosotros come upward across a large amount of money. This could come upward inwards the shape of a yearly bonus, an investment payout, or fifty-fifty a household unit of measurement inheritance. Influenza A virus subtype H5N1 large amount of coin comes every bit a practiced investment chance in addition to a unmarried insurance innovation is a practiced road to take. This tin give notice besides live used for availing taxation benefits when y'all file your taxes towards the cease of the financial year. You are entitled to an exemption of upward to Rs.1.5 lakhs.
Also, the principal orbit goodness of a unmarried insurance innovation is that y'all orbit non get got to e'er worry nearly your policy getting lapsed. As a large unmarried amount has been paid every bit a premium for the policy, the innovation volition non require additional payments to live made towards the premium. As this is the case, y'all volition non get got to e'er worry nearly the policy lapses due to a missed payment apart from other reasons.
Let us straightaway get got a await at the top five unmarried insurance plans that are offered inwards India:
- LIC’s Jeevan Vriddhi: The Jeevan Vriddhi plan offered past times LIC is a premium endowment innovation that offers jeopardy encompass which is a multiple of the premium that is chosen past times you. This plans offers a pose out of benefits amongst Loyalty Addition in addition to Guaranteed Maturity Sum existence the most evident ones.
| Time Period | 10 years |
| Entry Age Minimum-Maximum | 8-50 years |
| Sum Assured (Minimum) | Rs.1,50,000 |
| Sum Assured (Maximum) | Nil |
| Minimum Premium available | Rs.30,000 |
- Aegon Religare iMaximize Single-Premium Insurance Plan: Reap investment benefits past times making a one-time payment for this plan. Aegon Religare iMaximize unmarried insurance plan provides three unlike choices of investment funds that assist inwards maximizing your funds. There are no allotment charges in addition to so in that place are to a greater extent than funds that are made available for unlike investment purposes. You tin give notice select to pick upward this investment innovation when choosing a life insurance policy every bit this innovation doubles every bit an insurance policy.
| Time Period | 5 or 10 years | |
| Entry Age Minimum-Maximum | 8-60 years | |
| Maturity Age Minimum-Maximum | 18-65 years | |
| | Entry Age | Term of the Policy |
| Available Policy Term | Equal or earlier 50 years | 10 years |
| | Post 50 years | 5 years |
| | Lesser than 45 years | More than or equal to 45 years |
| Minimum Sum that is assured | 125% of the unmarried premium | 110% of the unmarried premium |
| Minimum Premium | Rs.1,00,000 | |
- ICICI Prudential iAssure Single-Premium Insurance Plan: This is a unmarried premium endowment plan. This innovation is all nearly tradition in addition to does non get got whatsoever bonus facilities. This innovation is similar to the other plans that are mentioned here. You are required to build a one-time lump amount payment that would allow the policy to choke along for the entire tenure of the policy. A Guaranteed Maturity Benefit is provided to the policyholder at the cease of the tenure in addition to if the policyholder survives for the tenure of the policy. However, if the policyholder meets amongst an early on in addition to unforeseen death, in addition to then the nominee of the policyholder volition larn the higher value betwixt Guaranteed Maturity Benefit in addition to Sum Assured.
| Duration | 5 or 10 years | |
| | Duration inwards years | Age inwards years |
| Minimum Age | 5 | 13 |
| | 10 | 8 |
| Maximum entry age | 70 years | |
| Minimum entry age | 18 years | |
| | Duration inwards years | Age inwards years |
| Age at maturity | 5 | 75 |
| | 10 | 80 |
| Minimum amount that is Assured | 125% of unmarried premium | |
| | Age at entry | Sum that is assured |
| Maximum amount that is assured | Up to 55 years | 500% |
| | 56-70 years | 125% |
| Minimum Premiums | Rs.20,000 | |
- Max New York SMART Steps Single-Premium Insurance Plan: This is an endowment plan that is aimed at making the lives of children a lot better. It is mainly aimed at planning in addition to providing for the financial needs of children.
| Life insured | Parent | |
| Age of the insured | 21-50 years | |
| Age of the child | 91 days-15 years | |
| Maximum Maturity (Life insured) | 60 years | |
| | Minimum | Maximum |
| The term of the policy | 10 years | 25 years |
| | Band 1 | Band 2 |
| Premium Bands | Rs.50,000-Rs.2,99,999 | Rs.3 lakhs in addition to above |
| The amount that is assured | 5 times the Single Premium | |
| Minimum Premium | Rs.50,000 | |
| Charges for allocation | Depends on the premium build that is chosen | |
- HDFC Life Single Premium Pension Super: This is a ULIP policy that generates corpus over the term of the policy which would orbit a post-retirement income.
| Time period | 10 years | |
| Entry Age (Minimum) | 40 years | |
| Entry Age (Maximum) | 75 years | |
| | Minimum | Maximum |
| Maturity Age | 18 years | 65 years |
| Maturity Benefits | 101% of unmarried premium made | |
Keep inwards heed that apart from financial stability, a unmarried premium innovation besides offers taxation benefits in addition to is solely available inwards the starting fourth dimension year. You besides ensure that y'all are making exercise of whatsoever lump amount of coin that is lying simply about without simply letting it rot inwards your piggy bank. The pose out of unlike unmarried insurance plans offered past times insurance agencies is never lacking. You tin give notice besides catch a policy aggregator website like bankbazaar.com to compare in addition to banking company check unlike policies in addition to select 1 that matches your needs in addition to requirements perfectly.
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