SUBSTANDARD PREMIUMS Sample Clauses

The SUBSTANDARD PREMIUMS clause defines the terms under which an insurance policyholder is required to pay higher-than-standard premiums due to increased risk factors, such as pre-existing health conditions or hazardous occupations. This clause outlines the criteria for determining when a premium is considered substandard and specifies how the additional premium amount is calculated and applied to the policy. Its core function is to ensure that the insurer is adequately compensated for taking on higher risk, thereby maintaining the financial stability of the insurance pool and ensuring fairness among policyholders.
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SUBSTANDARD PREMIUMS. Substandard multiple ratings will be applied to increase the underlying reinsurance premium rates by [percentage] per table of assessed rating, and the normal base allowance will be paid on the entire amount.
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SUBSTANDARD PREMIUMS. Premiums will be increased by any (flat) extra premium or substandard premium as shown in Schedule I, charged the insured on the face amount initially reinsured.
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SUBSTANDARD PREMIUMS. Substandard multiple ratings will be applied to increase the underlying reinsurance premium rates by [percentage]per table of assessed rating, and the normal base allowance will be paid on the entire amount. When flat extras are applied, the following allowances will be paid on the extra premium portion: Temporary (five years or less): [percentage] for first year and all renewal years Permanent (over five years): [percentage] for first year and [percentage] for all renewal years D.5 RIDERS AND BENEFITS AIBR (Automatic Increase Benefit Rider) - Elected increases will be proportionately reinsured using the premiums for the base coverage, at point-in-scale. BIR (Base Insured Rider) and OIR (Other Insured Rider) - These riders will be proportionately reinsured using the same premium rates scale as used for the base coverage. ACCELERATED DEATH BENEFIT - If IDS Life pays an accelerated death benefit under the terms of the policy contract, the reinsurance coverage will continue unaffected until the death of the insured. EXCHANGE OF INSURED RIDER - Exercise of rider to replace insured life subject to full underwriting; reinsurance coverage, whether automatic or facultative, to be provided for same amount of coverage as new business. The following benefits are not reinsured under this Agreement: Waiver of Monthly Deduction Rider (WMD) Children's Insurance Rider (CIR) Accidental Death Benefit Rider (ADB) SCHEDULE D-1 Basis for Reinsurance Premiums 2001 Valuation Basic Mortality Table ALB -- Select and Ultimate Rate Per $1000 Before Allowances ISSUE DURATION ------------------------------------------------------------------------------------------------------- Age 1 2 3 4 5 6 7 8 9 10 11 12 13 ------------------------------------------------------------------------------------------------------- Male Non-tobacco 0 ------------------------------------------------------------------------------------------------------- Male Non-tobacco 1 ------------------------------------------------------------------------------------------------------- Male Non-tobacco 2 ------------------------------------------------------------------------------------------------------- Male Non-tobacco 3 ------------------------------------------------------------------------------------------------------- Male Non-tobacco 4 ------------------------------------------------------------------------------------------------------- Male Non-tobacco 5 --------------------------------------------------...
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SUBSTANDARD PREMIUMS. For Policies written on substandard risks, the appropriate premium rate shall be adjusted by multiplying the rate by twenty-five percent (25%) for each table assessed the risk and adding such amount to the reinsurance premiums due.
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SUBSTANDARD PREMIUMS. Where a substandard table rating is applied, or on an uninsurable life, the underlying COI rates will be multiplied by the amount shown in the following table, and then reinsurance allowances applied after frasierizing. --------------------------------------------------------- RATING MULTIPLIER RATING MULTIPLIER --------------------------------------------------------- A [percentage] N [percentage] --------------------------------------------------------- B [percentage] O [percentage] --------------------------------------------------------- C [percentage] P [percentage] --------------------------------------------------------- D [percentage] Q [percentage] --------------------------------------------------------- E [percentage] R [percentage] --------------------------------------------------------- F [percentage] T [percentage] --------------------------------------------------------- G [percentage] U [percentage] --------------------------------------------------------- H [percentage] V [percentage] --------------------------------------------------------- 1 [percentage] W [percentage] --------------------------------------------------------- J [percentage] X [percentage] --------------------------------------------------------- K [percentage] Y [percentage] --------------------------------------------------------- L [percentage] Z [percentage] --------------------------------------------------------- M [percentage] --------------------------------------------------------- Premium rates for facultative cessions will be the same as for automatic cessions.
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SUBSTANDARD PREMIUMS. The substandard table extra premiums shall be the number of tables assessed the risk times X percent (X%) of the attached appropriate rates times the above percentages in renewal years only.
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SUBSTANDARD PREMIUMS. Substandard multiple ratings will be applied to increase the underlying reinsurance premium rates by [percentage]per table of assessed rating, and the normal base allowance will be paid on the entire amount. When flat extras are applied, the following allowances will be paid on the extra premium portion: Temporary (five years or less): [percentage] for first year and all renewal years Permanent (over five years): [percentage] for first year and [percentage] for all renewal years D.5 RIDERS AND BENEFITS AIBR (Automatic Increase Benefit Rider) - Elected increases will be proportionately reinsured using the premiums for the base coverage, at point-in-scale.
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Related to SUBSTANDARD PREMIUMS

  • Overtime and Premium Pay A nurse shall be paid at the rate of one and one- half (1½) times the nurse’s regular hourly rate of pay for all hours worked in any one category listed below, including statutory overtime pay under 9.4.1 or premium pay under 9.4.2 through

  • Reinsurance Premiums A. The total Reinsurance Premium for the business ceded hereunder is the sum of the GMDB Reinsurance Premium, the EPB Reinsurance Premium and the GMIB Reinsurance Premium, each of which is defined separately in this article. B. The Reinsurance Premium rates and structure described above are subject to change in accordance with the criteria described in Article XV. GMDB AND EPB ------------ C. The total GMDB Reinsurance Premium for the business ceded hereunder is the sum of the GMDB Reinsurance Premium and the EPB Reinsurance Premium, each of which is defined separately in this article. GMDB CESSION PREMIUM -------------------- D. The GMDB Reinsurance Premium is expressed in terms of basis points and is defined in Exhibit II. E. The Cedent shall calculate, for each premium class, the Reinsurer's Percentage of the greater of the average aggregate GMDB value and the average aggregate account value for the reporting month. This value shall be applied to the GMDB Cession Premium rates per premium class on a 1/12th basis. EPB CESSION PREMIUM ------------------- F. The EPB Reinsurance Premium is an asset-based premium rate, expressed in terms of basis points, and is defined in Exhibit II. G. The Cedent shall calculate, for each premium class, the Reinsurer's Percentage of the average aggregate account value for the reporting month. This value shall be applied to the annualized EPB reinsurance premium rates per premium class on a 1/12th basis. The total EPB Cession Premium due for the month is the sum of the premiums calculated for each premium class. SPOUSAL CONTINUANCES -------------------- H. Spousal continuances will be covered under this Agreement to the extent that the surviving spouse satisfies the issue age restrictions and benefit limitations, as described in Schedule A, at time of continuance, and shall be deemed to be terminations followed by subsequent new issues for purposes of calculating Reinsurance Premiums. The new reinsurance premium rate applied shall be based off the attained age of the surviving spouse at the time of election of spousal continuance. After the termination of this Agreement for new cessions, a spousal continuation of a Reinsured Contract may be ceded to this Agreement in accordance with the procedure set forth in Article I, Paragraph D. GMIB ---- I. The GMIB cession premium ("GMIB Reinsurance Premium") is an asset-based premium rate, expressed in terms of basis points, as set forth in Exhibit II, and shall be calculated on an aggregate basis. J. The Cedent shall calculate the Reinsurer's Percentage of the greater of the average aggregate IBB value and the average aggregate account value for the reporting month. This value shall be applied to the annualized GMIB cession premium rates on a 1/12th basis.

  • Insurance Premiums Tenant shall pay or cause to be paid all premiums for the insurance coverage required to be maintained pursuant to Article 9.

  • Maintenance of Hazard Insurance; Property Protection Expenses (a) The Master Servicer shall cause to be maintained for each Home Equity Loan hazard insurance naming the Master Servicer or related Subservicer as loss payee thereunder providing extended coverage in an amount which is at least equal to the lesser of (i) the maximum insurable value of the improvements securing such Home Equity Loan from time to time or (ii) the combined Loan Balance owing on such Home Equity Loan and any mortgage loan senior to such Home Equity Loan from time to time; provided, however, that such coverage may not be less than the minimum amount required to fully compensate for any loss or damage on a replacement cost basis. The Master Servicer shall also cause to be maintained on property acquired upon foreclosure, or deed in lieu of foreclosure, of any Home Equity Loan, fire insurance with extended coverage in an amount which is at least equal to the amount necessary to avoid the application of any co-insurance clause contained in the related hazard insurance policy. Amounts collected by the Master Servicer under any such policies (other than amounts to be applied to the restoration or repair of the related Mortgaged Property or property thus acquired or amounts released to the Mortgagor in accordance with the Master Servicer's normal servicing procedures) shall be deposited in the Custodial Account to the extent called for by Section 3.02. In cases in which any Mortgaged Property is located at any time during the life of a Home Equity Loan in a federally designated flood area, the hazard insurance to be maintained for the related Home Equity Loan shall include flood insurance (to the extent available). All such flood insurance shall be in amounts equal to the lesser of (i) the amount required to compensate for any loss or damage to the Mortgaged Property on a replacement cost basis and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). The Master Servicer shall be under no obligation to require that any Mortgagor maintain earthquake or other additional insurance and shall be under no obligation itself to maintain any such additional insurance on property acquired in respect of a Home Equity Loan, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Master Servicer shall obtain and maintain a blanket policy consistent with its general mortgage servicing activities insuring against hazard losses on all of the Home Equity Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first sentence of this Section 3.04, it being understood and agreed that such policy may contain a deductible clause, in which case the Master Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with the first sentence of this Section 3.04 and there shall have been a loss which would have been covered by such policy, deposit in the Custodial Account the amount not otherwise payable under the blanket policy because of such deductible clause. Any such deposit by the Master Servicer shall be made on the last Business Day of the Collection Period in the month in which payments under any such policy would have been deposited in the Custodial Account. In connection with its activities as servicer of the Home Equity Loans, the Master Servicer agrees to present, on behalf of itself, the Issuer and the Indenture Trustee, claims under any such blanket policy.

  • Premiums The premiums for insurance policies required pursuant to this Article must be paid as a common expense by the Owners' Association.