single premium

American  

noun

1. a single payment that covers the entire cost of an insurance policy.

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Etymology

Origin of single premium

First recorded in 1875–80

Example Sentences

Meanwhile, customers with their retirement accounts at Vanguard can still purchase a single premium immediate annuity at retirement through Vanguard’s third-party partner.

From MarketWatch • Dec. 17, 2025

“A retirement plan sponsor needs to question whether paying higher expenses throughout a person’s entire working career for the ‘opportunity’ to purchase a single premium annuity justifies this additional overall cost.”

From New York Times • Nov. 13, 2017

Hewitt Ennisknupp, an Aon unit, estimated there were about 200 single premium group annuity deals done last year, worth about $900 million -- just one-third of what had been done even four years previously.

From Reuters • Jun. 11, 2012

A variation of this full deduction could be made for those who are more attracted to the single premium hybrid products, perhaps spreading the deduction out over the course of 10 years.

From Forbes • Oct. 31, 2011

The sum of the discounted cost of insurance for all the years of the term divided by the number living at the beginning of the period, gives the single premium for each of the insured.

From Modern Economic Problems Economics Volume II by Fetter, Frank Albert