Partial payment means paying all the premiums at once.

Specifically:

Pontoon payment is an insurance term, pronounced dǔn jiāo, which means to pay all the premiums at one time when taking out a policy. It is suitable for people with high but unstable income. Single payment means to pay all the premiums at once, which is a kind of payment method in the insurance contract, just like period payment. It is suitable for people with high but unstable income, it is cheaper and more convenient, but less flexible.

There are also many advantages to single-payment, which is relatively cheap and convenient. Many people who choose this payment method are based on the fact that they do not have enough stability in their jobs, and they happen to have a sum of money in their hands. In order to avoid future changes in circumstances and difficulties in delivery, and to avoid the loss of surrendering the insurance policy, they choose the single-payment method.

Contrast between single payment and installment payment:

The advantage of single payment is that it is simple, and it saves you the trouble of continuing to pay premiums every year and the risk of lapsing the policy, which is more suitable for those who have a high but unstable income.

Single-payment is cheaper than installment, but considering the interest cost and opportunity cost of paying a lump sum, there is no difference between the two. The advantage of the term payment over the wholesale payment is mainly reflected in its flexibility.

1. The premiums can be used to pay for additional insurance. You can only take out additional insurance if you have taken out the main insurance and the main insurance is within the premium payment period. Instead, you can't buy a new rider even within the coverage period of the main insurance if you buy the main insurance with single premium.

2. Premium waiver is available for premium payment. If a policyholder is insured before the premium payment period has expired, the unpaid portion of the premium will be waived. The premium waiver clause is even more advantageous for purchasing children's insurance. In the unfortunate event that a parent suffers an accident or illness that results in death or first-, second- or third-degree disability or serious illness, the insurance company will waive the premiums for future installments, and the insurance contract will continue to be in effect.

3. The premiums can be changed or supplemented. The policyholder can adjust his insurance plan according to the changes in his financial strength.