With single premium annuity, only one single payment is required, while a flexible premium product allows you to make deposits over time. (goodfinancialcents.com)
It is a non-linked and non-participating single premium annuity plan. (policybazaar.com)
Under the plan, the annuity payments will start immediately from the next chosen frequency (monthly, quarterly, half - yearly or annually) after the payment of the single premium (policybazaar.com)