Is it possible to make a one-time life insurance premium payment?

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Currently, many people in my neighborhood purchase life insurance for themselves or for their relatives. I have heard them mention that they have to pay premiums monthly, over several years. I would like to inquire if it is possible to pay the premium in a lump sum for the entire insurance contract? Please advise.

Based on Clause 1, Article 35 of the Insurance Business Law 2000, which stipulates life insurance premium payment as follows:

The policyholder may pay the insurance premium once or multiple times according to the period and method agreed upon in the insurance contract.

Therefore, according to this regulation, you may pay the insurance premium once for the entire term of your insurance policy.

Sincerely!

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