single premium

noun

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

Word History and Origins

Origin of single premium¹

First recorded in 1875–80

Example Sentences

“However,” the group said in an email, “we do note that the reason for the suicide exclusion has nothing to do with morality or social/moral/modern views on suicide. It has to do with avoiding the circumstance where someone takes out a policy, pays a single premium, then commits suicide.”

From Washington Post

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

The simplest of them, known as single premium immediate annuities, are essentially bonds wrapped in insurance.

From New York Times

Given all that, you may want to consider purchasing a single premium immediate annuity when you retire.

From Los Angeles Times