A single premium life insurance policy is one where you pay an amount (a premium) to the insurer at the beginning of the policy. You may also be able to pay additional premiums. This type of policy pays out a lump sum on its maturity or if you (or another life assured) should die. You may also withdraw sums or a loan may be made by the insurer or by arrangement with it, while the policy is in force, or you may sell or assign the policy or surrender it completely before it is due to mature. This type of policy can never be a qualifying.
