single premium

Definition of "single premium"
  1. An up-front payment made at the start of the policy that fully pays for it
How to use "single premium" in a sentence
  1. For the insurance policy, he made a single premium payment.
  2. The single premium for the life insurance was paid at the time of initiation.
  3. She opted for a single premium payment plan, paying for her policy in full at inception.
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