What Does Single Premium Life Insurance Mean?

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

Single Premium Life Insurance

Single Premium Life Insurance

A single premium life insurance policy is an insurance policy in which the policyholder pays a large amount upfront, a one-time premium payment, in order to receive life insurance coverage. This is an alternative to standard life insurance policies, whose premiums are paid periodically over a long span of time.

We hope the you have a better understanding of the meaning of Single Premium Life Insurance.

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