The First Premium Receipt (FPR) is the confirmation of insurance. An insurance contract commences when the life insurance company issues a first premium receipt (FPR). FPR stands for Family Parent Rider (insurance). Usually the proposal form contains the following information to be filled by the prospective insured: Name of life assured; Address; Date of Birth; Occupation; Age. Looking for online definition of FPR or what FPR stands for? FPR is listed. named in the policy as the recipient of insurance proceeds upon the death of the insured.