Endowment plans and Ulips are promoted as products that meet the twin needs of insurance and investment, besides offering tax benefits. But what if an individual, due to irregular income or lack of financial discipline, cannot meet recurring premium payment commitments? Enter, single premium plans.
There has been a recent spike in single premium policy sales. Private sector insurers registered a growth of 54.75% y-o-y in the individual single premium segment in April-June 2018, even as ..