Written Vs. Full Term Premium

[ChubbyChecker]

When would "written premium" NOT equal "full term premium"?
Secondly, if you had a 20-year life insurance policy and the policy owner pays $1,000 in annual premium, would the written premium = $1,000 or $20,000?

Thanks.

 

[NinjaNic]

When would "written premium" NOT equal "full term premium"?
Secondly, if you had a 20-year life insurance policy and the policy owner pays $1,000 in annual premium, would the written premium = $1,000 or $20,000?

Thanks.

Nobody that I know of talks in full term premium. Written premium is just annual premium "AP" or annualized premium if they look at monthly x 12 as an example. "I wrote $5000 in AP this month" equals $5000 in first year premium written.