5 Best Single Premium Insurance Plans to invest

Best Single Premium Insurance Plans to investBest Single Premium Insurance Plans to invest


Some of you would have got bored to see regular insurance plans. If you have got sum lumpsum money either due to incentives or bonus or through FD maturity, you would like to invest in Single Premium Insurance Plans, then this article is for you. In this article, I would review some of the best single premium insurance plans in India which offers highest returns, zero or less premium allocation charges and with maximum benefits. Which are the Top Single Premium Insurance Plans to invest now?

Why to consider Single Premium Insurance Plans?


There are several reasons why individuals want to invest in single premium insurance plans.

  • In this fast pace world, difficult to track and pay premiums on time.
  • You would like to invest in insurance products when you get some lump sum amounts by way of bonus or annual performance pay or incentives etc.
  • Do not like to consider / invest in insurance every year.

I have picked up a few single premium insurance plans which are offering highest returns along with maximum benefits.

Also Read: Aegon Religare iSpouse Term Plan – Should you opt for it?

5 Best Single Premium Insurance Plans to invest


1) Reliance Life Guaranteed Maturity Insurance Plan


This single premium plan offers several benefits along with double your money.

  • This is single premium ULIP plan.
  • Tenure of the plan is 10 years.
  • Guarantees to double your money in 10 years.
  • Scope for upside as it is marked linked plan.
  • It comes with zero premium allocation charges.
  • You can withdraw your money from this plan after 5 years with certain conditions.
  • Minimum age of entry is 8 years and maximum age of entry is 50 years.
  • Minimum Single Premium is Rs 5,000 (one time)
  • Maximum Single Premium No limit.
  • Minimum Sum Assured is 5 times of single premium paid for first year and 1.25 times from second year onwards. Maximum Sum Assured is 5 times of single premium paid for first year and 1.25 times from second year onwards for < 49 years of age and 1.1 times from second year if you are > 49 years of age.
  • Guaranteed Maturity Value is 2 times of Single Premium. Means your money would be doubled in 10 years on maturity. This works out to 6% minimum guaranteed returns. There could be upside in your returns as it invests in various funds depending on your risk appetite.
  • Product brochure of Reliange Life Guaranteed Maturity plan can be downloaded here.

2) Future Generali Pramukh Nivesh ULIP Plan


Future generali single prem insuranceThis single premium plan offers several benefits along with zero allocation charges.

  • This is single premium ULIP plan.
  • Tenure of the plan is 5 to 20 years.
  • It comes with zero premium allocation charges.
  • 1% is charged as policy administration charges for the maximum of Rs 6,000 for first year.
  • It offers choice to invest in 6 different funds to match your risk appetite.
  • Offers liquidity through partial withdrawals after 5 years of lock-in period.
  • Scope for upside in fund value as it is marked linked plan.
  • Minimum age of entry is 7 years and maximum age of entry is 70 years.
  • Minimum Single Premium is Rs 50,000 (one time)
  • Maximum Single Premium No limit.
  • Minimum Sum Assured is 1.25 times of single premium. Maximum Sum Assured is 5 times of single premium paid till the policy holder attains 49 years and from 50 years, it would be 3 times of single premium and after 55 years, it would be 1.25 times of single premium.
  • Since it offers 6 funds of choice which would be under debt funds to equity funds category, you may expect 6% to 10% annualized returns.
  • Product brochure of Future Generali Pramukh Nivesh can be downloaded here.

​Also Read: What are Unit Linked Insurance Plans (ULIP's) in India?

3) LIC Jeevan Vriddhi Single Premium plan


This is a single premium plan from LIC which offers 6% to 8% returns.

  • Risk cover would be multiples of premium chosen by you.
  • Policy can be surrendered after first year where 90% of premium paid would be returned.
  • Tenure of the plan is 10 years, however policy can be surrendered after 1 year.
  • Minimum age of entry is 8 years and maximum age of entry is 50 years.
  • Minimum Single Premium is Rs ?? (one time)
  • Maximum Single Premium No limit.
  • Minimum Sum Assured is Rs 1.5 Lakhs
  • As reviewed by TFL Guide earlier, it offers 6.8% guaranteed returns and 8.12% of non guaranteed returns.

4) ICICI Pru iAssure Single Premium plan


This is non participating single premium plan which offers assured guaranteed returns along with life cover to nominee after your death.

  • This is single premium non participating plan.
  • Tenure of the plan is 5 to 10 years.
  • Minimum age of entry is 13 years.
  • Minimum Single Premium is Rs 20,000 (one time)
  • Maximum Single Premium No limit.
  • Minimum Sum Assured is 125% of single premium. Maximum Sum Assured is 500% of single premium paid till the policy holder attains 55 years. After 55 years, max sum assured would be 125% of single premium.
  • Guaranteed maturity benefit depends on age, gender, preium paid along with life coverage.
  • In case policy holder dies, highest of guaranteed maturity benefit or sum assured would be paid to nominee.
  • You can expect 6% to 8% returns from this single premium plan. Product brochure of ICICI Pru iAssure Plan can be downloaded here.

ICICI Pru iAssure Single Premium Plan

5) Aegon Religare iMaximize Single Premium Plan


This is a ULIP plan comes with several benefits.

  • This is single premium ULIP Plan.
  • Tenure of the plan is 10 to 15 years (10 years for < 50 years of age and 15 years for >=50 years of age)
  • It comes with zero premium allocation charges.
  • It offers choice to invest in 3 different funds to match your risk appetite. Secure fund for low risk profile investors, debt fund for medium risk profile investors and blue chip equity fund for high risk profile investors.
  • Scope for upside in fund value as it is marked linked plan.
  • Minimum age of entry is 8 years to 60 years.
  • Minimum Single Premium is Rs 100,000 (one time)
  • Maximum Single Premium No limit.
  • Minimum Sum Assured is 125% times of single premium till 45 years of age and 110% of > 45 years of age. Maximum Sum Assured is 10 times of single premium paid till the policy holder attains 35 years. After 35 years, max sum assured would be same as minium sum assured only.
  • Maturity value would be fund value. You can expect 6% to 10% of returns depending on the fund chosen by you.
  • Partial withdrawals available after 5 years period.

Also Read: Edelweiss Tokio launches Criticare+ which covers 17 Critical illness diseases

​Illustration indicating on how this plan works


 

Aegon Religare iMaximize Single Premium plan illustration

If you like this article, please share this on your Facebook or Twitter. This would be a special gift which you would be giving to our blog.

Suresh
Best Single Premium Insurance Plans to invest

15 comments

Leave a Reply

Your email address will not be published. Required fields are marked *