To be honest, it varies from person to person needs and convenience. However, the company may ask you for single premium policy as it is beneficial for them and from a recent survey it is clear that people move towards the single premium policy more as compared to the regular one. If you are a person who use to forget things then you must go for a single premium policy as you might forget the premium payment and your policy will get lapse. But it is always advisable to go for a regular premium policy as it is a better deal. Under the same, you don't have to make a higher upfront payment, allows you to avail tax benefits, long term advantage, saves on commission, and accurate cover as well.
Moreover, under single premium plans you pay upfront for the policy, but what if death occurs in the 5th year, premiums for 20 years would have been paid already. While the amount of premium paid is more with regular plans, keep in mind the time value of money.
I agree with the opinion illustrated above by the PolicyX that investing in a single premium policy or regular policy completely depends upon the requirements and comfort of the individual. Single policy premium can give a selected amount of benefit such as-
If you want to include your family members in your life insurance policy then you should go for other plans which suit your needs.
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