Single premium or Regular

[chikka]

Hello,

I am willing to take a term insurance of L.I.C
AGE 23yrs

shud i take single prem of 97600
or regular prem of 6725 (annual)

plz help

 

[ravalsb]

Hello,

I am willing to take a term insurance of L.I.C
AGE 23yrs

shud i take single prem of 97600
or regular prem of 6725 (annual)

plz help

Hi,

It is normally advisable to pay regular premium, rather than single premium.

If u have Rs.97,600, invest today in, say, Fixed Deposit @ 8%, u would earn approx 7800, off which u can pay premium of 6725 from next year and balance Rs.1000 is savings.

Hope this helps.

Regards

 

[lic.ananth]

If you have money you can take a single premium policy but it is not advisible. Give me an appointmnet I can suggest you the best investment plan with high returns. Contact me [email protected]

 

[HAK]

I have recently evaluated term insurance from multiple insurance companies and found term policies from LIC are extremely costly.

Evaluate private insurance companies for term policies such as Birla, Aegon Religare etc.

Regards,
HAK

 

[HAK]

Forgot to mention always takeing single premium based term policies are a huge waste of money.

Unless some specific need is their u should take term policies with annual premium payment mode.

Regards,
HAK