single premium insurance in Insurance
(sɪŋgəl primiəm ɪnʃʊərəns)
noun(
Insurance: Life insurance)
Single premium insurance is insurance where all the premium is paid at once, in one payment.
With single premium insurance, the policyholder pays a premium just once and enjoys its benefits throughout thepolicy term.
If you opt for single premium insurance, the premium is payable upfront as a lump sum.
Single premium insurance is insurance where all the premium is paid at once, in one payment.