Now a Days Life is all about the little moments that we enjoy with personal and loved ones. But these moments can be interrupted with an unpredictable event, leaving your family high. That is why, getting a life insurance plan is the first step towards creating a safe and secure future for your loved ones. By investing in a life insurance single or Regular premium plan today, you are securing your families for tomorrow.
Five Best Reasons why you should buy a life insurance policy :
- Great for long term goals
- Life Security
- Tax Benefits
Here is a list of a few factors which you should consider while buying a single or regular premium –
Convenience: If you are a kind of person who can forget to pay the premiums on time then buying a single premium policy is a better option than buying the regular premium policy. it offers you an advantage that you don’t have to worry about the lapse of the policy because you have to pay premium only at once.
Affordable: Can you afford to pay a large single premium or it would be better for you to pay premiums more than one. Most of the salaried persons do not afford to pay a single premium, so they choose the option for the regular premium which is affordable for them.
Risk: When one buys a single premium policy, it means he is putting himself in the risk of the market because you have to pay a large amount of premium at once, else your policy will get lapsed. If you do not want this scenario of paying a large amount at once then buying a policy with the regular premiums will be a great option for you.
Tax benefits: When it comes to tax benefits, both the single premium or the regular premiums are considered as great options because on both you will get tax benefits. Regular policies seems to be a more attractive option when one thinks about this. You will avail the benefits for all the years on regular premium policies, but in single premium policy you will get it only in the first year. Considering this layout; buying a regular premium policy is a greater option than buying a single premium policy.
Conclusion: Both the regular as well as the single based premiums have their own benefits associated with them. Considering all the above factors, think about your needs and convenience and then take your decision that which one is the perfect policy for you.
MIPAN INDIA is offering a wide range of life insurance policies for your better future. Your security is our responsibility.