Information on One Time Investment Plans in ICICI, HDFC and LIC

One Time Investment Plans

One Time Investment or a single premium plan means an opportunity to invest just once, no more obligations to pay regular or periodic premiums—enjoy the benefits of your investment and insurance (if that too is included in your plan) throughout the term of your policy. The main advantages the one time investments normally offer are…

  • Onetime payment is convenient.
  • Higher return.
  • Option to choose as per your risk carrying capacity.
  • Benefit of partial withdrawal or loan against your deposited amount.
  • Option to add more through top up premium.
  • Tax saving.

The common examples of one time investment are Bank Fixed Deposit, Kisan Bikas Patra, NSC, Monthly Income Scheme, etc, at Post Office, different single premium plans available with institutions like, ICICI, LIC, HDFC, Tata AIG, etc.

 ICICI

ICICI Prudential Life Link Super is a unit linked single premium policy, most suitable for someone with a long time planning in mind like children education or a new home.

In addition to that it gives a protective insurance cover. Its minimum premium up to 44 years is Rs 25,000 & above 45 years of age is Rs 50,000. Its last entry age is 65 years. The insured get the fund value on maturity either in lump sum or in monthly or biannually installments for a period of 1 to 5 years. No loan is permitted under this policy. It offers tax benefit under section 80C & 10(10) D.

One T ime Investment Plans in HDFC

HDFCStandard Life is a single premium policy which offers market- linked returns. It has a maximum life cover up to 5 times of the premium amount. For instance, if an investor deposits Rs 1, 00,000 as single premiums he gets a maximum life cover up to Rs 5, 00,000. The other single premium or one time investment policy offered by HDFC are:

Monthly Income Plan (minimum deposit Rs 40,000, tenure 12 to 60 months, interest rate 8.65 to 8.90%)

Non-Cumulative Plan (Minimum deposit Rs 20,000, tenure 12 to 60 months, quarterly option—8.75 to 8.95%, half yearly option 8.80 to 9.05%, interest per annum comes to 9 to 9.20% and 9.10 to 9.30% respectively)

             Annual Income Plan (Minimum Investment Rs 20,000, tenure 24 to 60 months, rate of interest 9 to 9.50 %)

             Cumulative Income Plan (Minimum investment Rs 20,000, tenure 12 to 60 months, interest rate 9 to 9.50%)

Maximum deposits under all the plans without TDS are within the limit of Rs 50,000 to 55,000. 

LIC One Time Investment Plans

Bima Nivesh is a single premium investment plan suitable for those with no regular but good periodical income. The duration of the policy is 5 and 10 years

Bima Bachat is a single payment Investment with Life Insurance cover, open for the age group of 15-66 years. It offers good returns on plus life insurance coverage.

LIC Pension plus is another scheme where pension can be paid regularly or in a single payment.

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