The Long Read

Everything you *need to know* is right above this. Scroll down, only if you'd still like to read more (honestly, why?)

Planning to buy a term insurance policy? You'll need to choose the premium payment term (PPT) aka the total time during which you have to pay your term plan premiums. 

To decide which PPT works the best for your needs, you need to know the available options:

  • Single pay - You only pay once and be done

  • Limited pay - You pay for a certain number of years

  • Regular pay - You pay as long as your term policy lasts

When applying for a term plan, you can pick one of these premium payment terms. 

Honestly, there is no right or wrong answer to this. Your convenience to pay is all that matters. 


  • If you have irregular income, it’s best to pay it off in one go. 


  • If you have the urge to pay off everything ASAP, you can opt for limited pay.


  • If you are looking for some flexibility to change your policy benefit, go for regular pay. 

Remember: Choosing single or limited pay will give you only less than 15% savings and not ~45% as some may claim. So choose wisely, as per your needs. Just remember to pay your premiums on time.

In the absence of a regular income, choose the Single Pay or Limited Pay option as it will let you pay off your premiums in one go or within a smaller time period.

Choose the Regular Pay option and pay only a small amount as the premium, as long as the policy lasts.


No, it’s not. In fact, choosing Single or Limited Pay will give you only less than 15% savings and not ~45% as some may claim. 


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