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 case of Single Premium Policies, the policyholder has an option to surrender the policy any time.

• In case of Single Premium Policies, the Policyholder has an option to surrender the Policy any time.

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

• The current minimum amount of Single Premium Top-Up is specified in the Policy Schedule and will be determined by us at our sole discretion from time to time with prior approval from the Insurance Regulatory and Development Authority.

• 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.

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 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.

Single Premium means the Premium payable at the Policy Com- mencement Date and is equal to that mentioned in the Schedule.