Single Premium definition

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 the case of term policies Your Single Premium will be refunded on a scale determined by Our actuary based on Our calculation for the unexpired portion of the Term Policy, provided that no claim was submitted, in which Event No Premium shall be refunded.

• The Individual Single Premium Deferred Registered Index-Linked Annuity described herein.

• Revival clause is not applicable for Single Premium payment option.

• Simple Life is a US life insurance company located in Boston, Massachusetts with four lines of business: Universal Life (UL), Level Premium Term Insurance with three available level term periods: 10, 20 and 30 year, Single Premium Immediate Annuities (SPIA) and Variable Annuities with a Return of Premium (ROP) Guaranteed Minimum Death Benefit (GMDB) and a Guaranteed Minimum Accumulation Benefit (GMAB).

• SLIC has four lines of business: Universal Life (UL); Level Premium Term Insurance with three available level term periods: 10, 20 and 30 year; Single Premium Immediate Annuities (SPIA); and Variable Annuities with a Return of Premium (ROP) Guaranteed Minimum Death Benefit (GMDB) and an optional Guaranteed Minimum Accumulation Benefit (GMAB) or Guaranteed Minimum Withdrawal Benefit (GWAB).

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 paid to Us in a single instalment as specified in the Schedule;

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 amount paid by you at inception under the Policy. This is also equal to Purchase Price.

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 of initial premium contribution made for the Basic Policy, which is shown on the Policy Information Page.