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single premium

a single payment that covers the entire cost of an insurance policy.
1875-80 Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2015.
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Examples from the web for single premium
  • If a single insurance charge is made to the debtor, whether or not the charge is financed, a single premium must be used.
  • Annuity contracts may be either single premium or installment premium.
  • single premium contracts require you to pay the company only one premium.
  • Financing single premium credit insurance which costs consumers thousands extra over the life of a loan.
  • For a single premium policy, surrender charges which are a percentage of the premium paid are allowed.
  • Immediate annuities are purchased with a single premium, and begin paying at once.

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