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single premium

American  

noun

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


Etymology

Origin of single premium

First recorded in 1875–80

Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

At Fidelity, the largest retirement custodian, what’s taking shape is a way for retirees to access group rates on single premium immediate annuities, or SPIAs, and sign up for a policy with an insurance company with the click of a few buttons.

From MarketWatch

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

Even though single premium immediate annuities may be the most straightforward of annuity products, they are still more complicated than most investors are used to handling.

From MarketWatch

Existing, single Premium members can upgrade to Premium Duo at any time and doing so won’t erase their account listening history or preferences.

From The Verge

A single Premium membership costs $9.99.

From The Verge