What Does Single Premium Group Annuity Mean?

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What does Single Premium Group Annuity mean? Read on to discover the definition & meaning of the term Single Premium Group Annuity - to help you better understand the language used in insurance policies.

Single Premium Group Annuity

Single Premium Group Annuity

A single premium group annuity is an annuity that is purchased with one premium but provides benefits for a group of people. In the context of insurance, many businesses pay insurance companies to set up single premium group annuities for employees at their company as a way to provide benefits for the employees.

We hope the you have a better understanding of the meaning of Single Premium Group Annuity.

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