Life insurance is a financial planning tool that protects your loved ones. It ensures that the beneficiaries mentioned in the policy receive a death benefit, which provides financial security to their loved ones even if they pass away. The importance of life insurance cannot be stressed enough but with time, it has been seen how having life insurance coverage can help people. A life insurance plan comes with different life insurance premium payment modes, such as Regular Pay, Limited Pay, Single Pay and premium payment frequencies such as annual, semi-annual, quarterly, or monthly. We will specifically discuss what a single premium plan is, how it works, when you should buy one, and what benefits you will get. What is a Single Premium Plan and How does it work? A single premium pla
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