{"id":3667,"date":"2016-12-26T05:42:50","date_gmt":"2016-12-26T05:42:50","guid":{"rendered":"https:\/\/securenow.in\/blog\/?p=3667"},"modified":"2022-09-19T05:31:35","modified_gmt":"2022-09-19T05:31:35","slug":"expert-speak-should-you-buy-a-single-premium-insurance-policies","status":"publish","type":"post","link":"https:\/\/securenow.in\/insuropedia\/expert-speak-should-you-buy-a-single-premium-insurance-policies\/","title":{"rendered":"Expert speak: Should you buy a single-premium insurance policies?"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><p class=\"p\">Published in <a href=\"http:\/\/www.livemint.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mint<\/a> on Dec 21 2016, Written by\u00a0Abhishek Bondia<\/p>\n<p>I prefer regular-premium life insurance, particularly for term insurance. The main advantage of single-premium insurance\u2014to avoid renewal payment\u2014 comes at a high cost. For example, if a 30-year-man buys a 30-year term plan, the single premium is about Rs 1.5 lakh for a sum assured of Rs 1 crore. The annual renewal premium is about Rs 7,300. Simplistically, Rs 7,300 over 30 years works out to Rs 2.19 lakh. This appears more expensive than the one-time payment.<\/p>\n<p class=\"p\">If you were to invest this in an instrument earning even 5% per year, the interest itself will cover the annual premium.<\/p>\n<p class=\"p\">An advantage of regular premium is you can stop paying premiums. In single premium, surrender can be difficult in many products.<\/p>\n<p class=\"p\">Single premium makes sense if you have uncertain income and want to pay in one go, or if you live in a remote area with limited banking access.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Published in Mint on Dec 21 2016, Written by\u00a0Abhishek Bondia I prefer regular-premium life insurance, particularly for term insurance. The main advantage of single-premium insurance\u2014to avoid renewal payment\u2014 comes at a high cost. For example, if a 30-year-man buys a 30-year term plan, the single premium is about Rs 1.5 lakh for a sum assured [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":3559,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_lmt_disableupdate":"","_lmt_disable":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[980],"tags":[651,652],"class_list":["post-3667","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other-products","tag-expert-speak","tag-single-premium"],"acf":[],"modified_by":null,"_links":{"self":[{"href":"https:\/\/securenow.in\/insuropedia\/wp-json\/wp\/v2\/posts\/3667","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/securenow.in\/insuropedia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/securenow.in\/insuropedia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/securenow.in\/insuropedia\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/securenow.in\/insuropedia\/wp-json\/wp\/v2\/comments?post=3667"}],"version-history":[{"count":1,"href":"https:\/\/securenow.in\/insuropedia\/wp-json\/wp\/v2\/posts\/3667\/revisions"}],"predecessor-version":[{"id":13806,"href":"https:\/\/securenow.in\/insuropedia\/wp-json\/wp\/v2\/posts\/3667\/revisions\/13806"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/securenow.in\/insuropedia\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/securenow.in\/insuropedia\/wp-json\/wp\/v2\/media?parent=3667"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/securenow.in\/insuropedia\/wp-json\/wp\/v2\/categories?post=3667"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/securenow.in\/insuropedia\/wp-json\/wp\/v2\/tags?post=3667"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}