PREMIUM TAX CHARGE definition

PREMIUM TAX CHARGE. We reserve the right to deduct any premium tax assessed against Us from the Proceeds to the extent that the premium tax has not been recovered from a deduction from premium payments.
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PREMIUM TAX CHARGE. A charge which may be deducted from Purchase Payments or Contract Value for premium taxes owed by us to any governmental entity.
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PREMIUM TAX CHARGE. A charge shown on the Certificate Specifications page that is deducted either from the Single Premium or from the Accumulation Value prior to surrender, annuitization or death of the Participant or Annuitant.
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Examples of PREMIUM TAX CHARGE in a sentence

  • WE RESERVE THE RIGHT TO CHANGE THE PREMIUM TAX CHARGE DUE TO RATE CHANGES OF THE GOVERNING JURISDICTION.

  • THE PREMIUM PAID MULTIPLIED BY THE PREMIUM TAX CHARGE AS SHOWN ON THE POLICY SPECIFICATIONS PAGE; MINUS 3.

  • PREMIUM TAX CHARGE: 2.25% of premiums FEDERAL TAX CHARGE: 1.50% of premiums MONTHLY DEDUCTION: See Part 4, "Monthly Deduction".

  • PREMIUM TAX CHARGE: the amount of tax charged by a state, or municipal entity on premium payments or Account Values.

  • SURRENDER CHARGE AND DEFERRED PREMIUM TAX CHARGE -- A Total or Partial Surrender of the Account Value may be subject to the Surrender Charge and Deferred Premium Tax Charge.

  • PARTIAL SURRENDERS, ANNUAL WITHDRAWAL AMOUNT, SURRENDER CHARGE AND DEFERRED PREMIUM TAX CHARGE PARTIAL SURRENDERS -- At any time after the Right to Examine Period expires, You may, upon written request to Cova, make a Partial Surrender of the Cash Surrender Value subject to the following: 1.

  • POLICY EXPENSE CHARGES ---------------------- MAXIMUM MONTHLY MORTALITY AND EXPENSE RISK FEE: 0.00075 (Based on Annual Rate of 0.90%) PREMIUM TAX CHARGE: x.xx% of premiums (based on actual state tax) FEDERAL TAX CHARGE: [1.50%] of premiums MAXIMUM SALES LOAD: 9.00% of premiums (Policy Years 1 to 7) 3.00% of premiums (Policy Years 8+) MAXIMUM TRANSFER CHARGE: $ 0 - First two transfers per Policy Year.

  • POLICY EXPENSE CHARGES ---------------------- MAXIMUM MONTHLY MORTALITY AND EXPENSE RISK FEE: 0.00075 (Based on Annual Rate of 0.90%) PREMIUM TAX CHARGE: x.xx% of premiums (based on actual state tax) FEDERAL TAX CHARGE: [1.50%] of premiums MAXIMUM SALES LOAD: 5.00% of premiums (Policy Years 1 to 7) 2.00% of premiums (Policy Years 8+) MAXIMUM TRANSFER CHARGE: $ 0 - First two transfers per Policy Year.

  • PREMIUM TAX CHARGE: the average amount of tax charged by a state, or municipal entity on premium payments or Account Values.

  • PREMIUM TAX CHARGE The Premium Tax Charge compensates us for state premium taxes incurred.


More Definitions of PREMIUM TAX CHARGE

PREMIUM TAX CHARGE. A charge calculated to approximate the aggregate of taxes based on premiums received imposed on the Company by the jurisdiction in which the Contract Holder resides at the time the premiums are received. DAILY CHARGES Daily charges are deducted from each Separate Account Division. Mortality and Expense 0.0013665% daily Risk Charge: (equivalent to 0.50% annually) CONTRACT SCHEDULE B CONTRACT CHARGES AND FEES (continued) Charge for Taxes: SELIC reserves the right to deduct from the assets of the Separate Account Divisions a charge equivalent to any federal, state, or local taxes which it may be required to pay based on the investment earnings of a Separate Account Division. MONTHLY CHARGES Monthly charges are deducted from the Insurance Account Value.
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Related to PREMIUM TAX CHARGE

  • Premium tax means a tax paid by insurance companies to provincial and territorial governments calculated as a percentage of gross premiums written.

  • Late Payment Charge means the charge that is applied when either Party fails to remit payment for any charges by the Bill Due Date, or if payment for any portion of the charges is received after the Bill Due Date, or if payment for any portion of the charges is received in funds which are not immediately available or received by either Party as of the Bill Due Date, or if either Party does not submit the Remittance Information.

  • Service Charge means the amount charged for making a service available on line and is in addition to the actual fee for a service itself. For example, one who renews a license on line will pay the license renewal fee and a service charge.

  • User charge means a charge imposed on airlines for the provision of airport, air navigation, or aviation security facilities or services including related services and facilities.

  • Monthly Charge shall have the meaning set forth in Article 5.

  • Minimum Charge means the higher of the rate minimum and the rate applied to the Contracted Minimum Demand;

  • CCAA Charges means the Administration Charge and the Directors’ Charge;

  • Account Charge means, in relation to each of the Charged Accounts, the first priority fixed charge or pledge over all such accounts given or to be given by the relevant account holder thereof in favor of and in form and substance satisfactory to the Security Trustee.

  • Finance charge means that term as defined in section 106 of the truth in lending act, 15 USC 1605.

  • Prepayment Charge With respect to any Mortgage Loan, the charges or premiums, if any, due in connection with a full or partial prepayment of such Mortgage Loan during a Prepayment Period in accordance with the terms thereof (other than any Servicer Prepayment Charge Payment Amount).

  • No Charge Bid When Bids are requested on a number of Products as a Group or Lot, a Bidder desiring to Bid “no charge” on a Product in the Group or Lot must clearly indicate such. Otherwise, such Bid may be considered incomplete and be rejected, in whole or in part, at the discretion of the Commissioner.

  • Penalty Charge means a penalty charge which is payable by virtue of paragraph 3(1) and (2) of Schedule 3 to this Act;

  • Yield Maintenance Charge With respect to any Mortgage Loan or Serviced Companion Loan, the yield maintenance charge or prepayment premium, if any, payable under the related Note in connection with certain prepayments.

  • Management Charge means the sum paid by the Supplier to the Authority being an amount of half (0.5) percent of all Charges for the Services invoiced to the Contracting Bodies (net of VAT) in each Month throughout the Term and thereafter until the expiry or earlier termination of any Call-Off Contract;

  • Monthly Charges means a finance carrying charge of one and one-half of one percent (1.5%) and a storage and handling charge of one-half of one percent (0.5%), in each case of the Cost of the Inventory and/or Special Inventory and/or of the fees for the Product affected by the reschedule or cancellation (as applicable) per month until such Inventory and/or Special Inventory and/or Product is returned to the vendor, used to manufacture Product or is otherwise purchased by Customer.

  • Contract Charges means charges that accrue during a given month as defined in Article III. “Contract Term” is defined in Article IV.

  • User Charges means a charge made to airlines by a service provider for the provision of airport, airport environmental, air navigation and aviation security facilities and services.

  • Prepayment Charge Period As to any Mortgage Loan, the period of time during which a Prepayment Charge may be imposed.