Definitions for "Single Premium"
Keywords:  inception, premium, annuity, lump, sum
A single premium contract involves the payment of one premium at inception with no obligation for the policyholder to make subsequent, additional payments. It compares with regular or recurring premium contracts, where the policyholder agrees at inception to make a regular payment.
a single deposit made to fund an annuity. Additional premiums cannot be added to this policy.
A single premium contract is paid at the inception of the policy and the policy becomes fully paid.
Keywords:  assurance, life, whole, cover, required
In life assurance, a single payment for the whole of the cover required however long the cover lasts.
Refers to the one-time payment required to cover the entire cost of a life insurance contract.
Keywords:  repeatable, payment, time, one
A one time only, not repeatable single payment.