Single Premium means the Premium amount specified in the Schedule payable in Lump Sum at the inception of the Policy. No further Premiums are payable under this Policy.
Single Premium means the amount payable by the Policyholder at the Policy Commencement Date, as per the amount specified in the Schedule.
Single Premium means the amount exclusive of applicable taxes, if any, payable by the Policyholder only once at the Policy Commencement Date.
Examples of Single Premium in a sentence
In order for this Policy to qualify as a life insurance contract under Section 7702 of the Code, the sum of the premiums paid less a portion of any withdrawals, as specified in the Code, may not exceed the Guideline Premium Limit, which is the greater of: · The Guideline Single Premium; or · The sum of the annual Guideline Level Premiums to the earlier of the date of payment or the Insured’s Age 100.
More Definitions of Single Premium
Single Premium means the premium amount specified in the Schedule and paid to Us in a single instalment as specified in the Schedule excluding applicable taxes, cesses and levies;
Single Premium means the Premium amount specified in the Certificate of Insurance which is payable in Lump Sum in respect of the Insured Member under this Group Policy.
Single Premium means the premium amount payable as a lump sum at the start of the policy, excluding the taxes, rider premiums and underwriting extra premiums, if any.
Single Premium means the payment of the scheduled premiums in one lump sum pursuant to Clause B.1(a) and is specified as Single Payment in Policy Schedule 1;
Single Premium means the amount paid by you at inception under the Policy. This is also equal to Purchase Price.
Single Premium means the amount of initial premium contribution made for the Basic Policy, which is shown on the Policy Information Page.