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.
a one time premium payment which will be used to fully fund the contract
Policy A whole life policy for people who want to buy a policy for a one-time lump sum, and then be covered for the rest of their lives without paying any additional premiums.
The lump sum required to cover the entire cost of a life insurance or annuity contract.
an annuity purchase with only one premium payment rather than a series of payments/deposits. This can be an immediate annuity or a deferred annuity.
The payment of the entire premium for an insurance policy in one lump sum.
A one off payment into an insurance policy or pension.
A long-term insurance policy where the premium is paid in one lump sum, not regularly over a period of time.
A premium, which provides coverage for more than a year. empty)