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Definitions for "Single Premium Policy"
Keywords:  lump, premium, sum, inception, policy
Related Terms: Single premium, Paid-up policy, Settlement options, Whole of life insurance, Lapsed policy, Paid-up insurance, Term insurance, Term life insurance, Settlement option, Lapse, Paid up, Universal life insurance, Single premium life insurance, Ordinary life insurance, Life insurance, Whole life insurance, Term life, Paid up policy, Cash surrender value, Surrender, Whole life, Permanent insurance, Renewable term life insurance, Whole life policy, Surrender value, Policy proceeds, Endowment insurance, Nonparticipating policy, Suicide clause, Life settlement, Guaranteed renewable policy, Reduced paid-up insurance, Pro rata cancellation, Family income policy, Short rate cancellation, Automatic premium loan, Guaranteed insurability rider, Extended term insurance, Premiums, Life insurance in force, Policy lapse, Waiver of premium provision, Permanent life insurance, Individual life insurance, Apl , Nonforfeiture values, Unearned premium, Life assurance, Free look provision
With life insurance and annuities, a contract in which the entire premium is paid in a lump sum at the beginning of the contract period. No additional premiums are required.
newyorklife.com
This is a life insurance policy that has only one payment of the lump sum
lifetimes.co.uk
One in which the total premium is made in a lump sum; a one-time payment. p 98
insuranceducators.com
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