Srinagar, Aug. 8 -- A single premium term plan allows you to pay once and stay covered for life, eliminating the need for monthly or yearly payments. It's ideal for busy professionals, entrepreneurs, or anyone who prefers not to deal with ongoing bills.

With just one upfront payment, you secure long-term protection. Here's a quick look at how it works, who it suits, and what to check before deciding if it's right for you.

Single premium term insurance is a type of life cover where you pay the entire premium upfront, and the policy stays active until it matures. Like regular term insurance, it provides a death benefit to your family if you pass away during the policy term, along with certain tax benefits.

These plans are often short-ter...