Many customers are prefering to buy single premium life insurance policies for financial protection, attracted by the flexibility these offer to invest the investible surplus in one shot and get an associated life cover. In the last one year, the share of single premium to total premium policies has grown to 79% by July this year as compared to 65% in the same month last year, data from Kotak Institutional Equities Research show indicating individuals are preferring bullet payment as they are unsure about fulfilling any long-term commitments for recurring life insurance premiums.
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