Insurance Best Policy:Â As you know, today everyone invests somewhere to secure your future so that there will be no problem later, but some people do not know which policy to invest in, so let us give you one such We are going to tell the plan which will be of great benefit to you, know the complete details in the news.
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Do you know today people are getting more attracted towards seasonal employment or business instead of regular salary job. In such a situation, they do not know whether they will have capital to pay regular premium or not. That is why the trend of single premium insurance policy has increased a lot. According to Kotak Institutional Equity Research, from last August to this July, single premium policies out of total policies have increased to 79 per cent.
In a single premium insurance policy, you do not have to pay premiums from time to time. You get rid of the hassle by paying a one-time amount, so at first glance this policy looks better. Today we will tell you what is the opinion of the experts on this and who should choose which policy.
Nitin Mehta of Bharti AXA Life Insurance says
Nitin Mehta of Bharti AXA Life Insurance says that a single premium policy gives a customer the freedom to take life cover by investing a lump sum amount. He says that the customer does not have to worry about paying premium every year for 10-15 years. On the other hand, Rakesh Goyal of Probus Insurance says that the lump sum amount paid in a single premium is less than the total amount deposited in a policy with regular premium. According to Goyal, a single premium policy does not change according to inflation or market conditions.
Which policy is right for you?
For this it is necessary to keep some factors in mind. According to Rakesh Goyal, a single premium policy is for those who are ready to lock in a lot of their money in one go and get returns in return. At the same time, in his opinion, regular premium policies should be taken by those people who do not have money to put together and are dependent on regular income.
He also says that the tenure of a single premium policy is less than that of a regular premium policy. According to Nitin Mehta, this policy is often taken by people with high net worth. According to Mehta, before taking a policy, it is also important for you to see what stage of life you are at.
