Deferred or immediate annuity purchased with one premium payment. Also see annuity .
Tag: MEDICAL
single-premium deferred annuity (SPDA)
See: single-premium annuity .
Single-premium method
Group creditor insurance purchased either at the beginning of the loan, with the entire premium lump-sum amount being paid, or by adding the premium to the principal of the loan.
Single-purchase annuity contract
Group annuity agreement where one premium is used to purchase for the participants in a retirement plan that is terminating (i.e., immediate annuities for current retirees and deferred annuities for those who are not yet of retirement age).
Site visit
Evaluation of a place of business (e.g., under the Health Care Financing Administration’s Medicare contracting program, health maintenance organizations and competitive medical plans are reviewed and monitored to see if they are complying with federal requirements).
site-of-service (SOS) differential
Difference in the amount paid when the same medical service is provided in different medical practice settings (e.g., outpatient visit in a physician’s office or a hospital clinic).
situs
See: state of issue .
six and six exclusion
Provision in a credit disability policy for a preexisting condition that states an insured’s disability is not covered if he or she was treated for the condition within 6 months before the effective date of coverage and becomes disabled from that same condition within 6 months after the effective date of coverage.
Size discount
Fee reduction based on the initial gross monthly premium to groups that have a self-administered health insurance plan.