single premium
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The single, one-time premium needed to provide the insurance benefits in a policy.
Internal Revenue Service 1See also split annuities
The single, one-time premium needed to provide the insurance benefits in a policy.
1Internal Revenue Service, Internal Revenue Manual 4.42.6 Glossary, http://www.irs.gov/irm/part4/irm_04-042-006.html (last accessed Dec. 22, 2009).