Accumulated Premium definition

Accumulated Premium means, for a policy or group of policies, the total Gross Premiums paid, and premium waived under Waiver of Premium provisions, from inception until the valuation date.
Sample 1

Examples of Accumulated Premium in a sentence

  • The Specified Amount will not be reduced.If Death Benefit Option 3 is in effect, the Accumulated Premium and the Death Benefit Proceeds will be reduced by the amount of the partial surrender.

  • If the amount of the partial surrender exceeds the Accumulated Premium, the Specified Amount will be reduced by the excess amount.

  • The Accumulated Premium is the sum of all premiums paid from the Date of Issue accumulated at the Premium Accumulation Rate.

  • If a request is made to change the death benefit from Death Benefit Option 3 to Death Benefit Option 2 and the Accumulation Value is less than Accumulated Premiums less the Cumulative Policy Factor (if elected), the Specified Amount will be increased by the Accumulated Premium less the Cumulative Policy Factor (if elected), less the Accumulation Value as of the effective date of change.

  • If a subsequent Purchase Payment is made that results in the sum of Purchase Payments achieving a higher Accumulated Premium Breakpoint, as shown on the Contract Data Page, then the percentage from the Withdrawal Charge Schedule corresponding to that Accumulated Premium Breakpoint will apply to the entire subsequent Purchase Payment.

  • Accumulated Premium is the total Gross Premiums paid, and premiums waived, under a policy or group of policies from inception until the valuation date.

  • After the first Contract quarter, the Accumulated Premium Breakpoint and the Premium Based Charge percentage applicable to subsequent Premiums are determined by the sum of all Premiums previously received plus the subsequent Premium(s) when received by Us. If the sum of Premiums results in a higher Accumulated Premium Breakpoint being achieved, the Premium Based Charge percentage applicable to the entire subsequent Premium will be based on the corresponding Accumulated Premium Breakpoint.

  • The Withdrawal Charge percentage applicable to the initial Purchase Payment is determined by the amount of the initial Purchase Payment, the corresponding Accumulated Premium Breakpoint, as shown on the Contract Data Page, and how long the Purchase Payment to which the Withdrawal is attributed has been in the Contract.

  • Through cooperation and networking, the church could fully utilise the existing resources from other congregations that could increase members’ knowledge of methods for combating climate change.

  • If a request is made to change the death benefit from Death Benefit Option 3 to Death Benefit Option 2 and the Accumulation Value is greater than the Accumulated Premium less the Cumulative Policy Factor (if elected), the Specified Amount will be reduced by the Accumulation Value less Accumulated Premium plus the Cumulative Policy Factor (if elected), as of the effective date of change.

Related to Accumulated Premium

  • Accumulated leave means the period of time that is accumulated under the Plan as leave during a work period.

  • Accumulated Dividends means, with respect to any share of Preferred Stock, as of any date, the aggregate accumulated and unpaid dividends on such share from the Issue Date until the most recent Dividend Payment Date on or prior to such date. There shall be no Accumulated Dividends with respect to any share of Preferred Stock prior to the first Dividend Payment Date.

  • Accumulated contributions means the sum of all

  • Share Premium Account means the share premium account established in accordance with these Articles and the Companies Act.

  • Annualised Premium means the premium amount payable in a year chosen by the policyholder, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any as specified in the Schedule.

  • Make-Whole Premium means, with respect to a Note at any redemption date, the greater of:

  • Extra Premium means an additional amount charged by Us, as per Our Underwriting Policy, which is determined on the basis of disclosures made by You in the Proposal Form or any other information received by Us including medical examination report of the Life Insured.

  • Accumulation shall not exceed an amount equal to twice the annualized current vacation earnings rate of the employee. This is the employee’s “Maximum Balance.”

  • Net Earned Premium as used herein is defined as gross earned premium of the Company for the classes of business reinsured hereunder, less the earned portion of premiums ceded by the Company for reinsurance which inures to the benefit of this Contract and less dividends paid or accrued.

  • Accumulation Unit is the unit of measure we use before the Income Date to keep track of the value of each Variable Sub-Account.

  • Accumulation Amount means $83,333,333.34; provided, however, if the commencement of the Accumulation Period is delayed in accordance with Section 2.11 hereof, the Accumulation Amount shall be determined in accordance with the definition of “Accumulation Amount” in the Indenture Supplement.

  • Auction Premium means the difference in price (if any) between the Starting Price and the Clearing Price;

  • Single Premium means the Premium amount specified in the Schedule payable in Lump Sum at the inception of the Policy. No further Premiums are payable under this Policy.

  • ACCUMULATION UNIT VALUE means the dollar value of each Accumulation Unit in a Separate Account on a given date. (If Investment Funds apply as described in Section 2.02, then the terms of this Section 2.03 apply separately to each Fund, unless otherwise stated.) Amounts allocated or transferred to a Separate Account are used to purchase Accumulation Units of that Account. Units are redeemed when amounts are deducted, transferred or withdrawn. The number of Accumulation Units in a Separate Account at any time is equal to the number of Accumulation Units purchased minus the number of Units redeemed in that Account up to that time. The number of Accumulation Units purchased or redeemed in a transaction is equal to the dollar amount of the transaction divided by the Account's Accumulation Unit Value for that Transaction Date.

  • Applicable Premium means, with respect to any Note on any Redemption Date, the greater of:

  • Premium Percentage As defined in the Insurance Agreement.

  • Accumulation Shortfall shall initially mean zero and shall thereafter mean, with respect to any Monthly Period during the Controlled Accumulation Period, the excess, if any, of the Controlled Deposit Amount for the previous Monthly Period over the amount deposited into the Principal Funding Account pursuant to subsection 4.9(c)(i) with respect to the Certificates for the previous Monthly Period.

  • Risk Premium means a percentage determined on an Adjustment Day for the Adjustment Period beginning on such Adjustment Day, which indicate the price of the risks taken over by the Issuer. The determination will be made by the Issuer in its reasonable discretion (billiges Ermessen § 315 German Civil Code (BGB)). The respective

  • Maximum Premium has the meaning set forth in Section 7.06(b).

  • Reinvestment Deferred Amount means, with respect to any Reinvestment Event, the aggregate Net Cash Proceeds received by the Borrower or any of its Subsidiaries in connection therewith that are not applied to prepay the Loans pursuant to Section 2.09(b) as a result of the delivery of a Reinvestment Notice.

  • Accumulation Account The account designated as such, established and maintained pursuant to Section 5.01(a)(iii) of the Trust Sale and Servicing Agreement.

  • Redemption Premium means (i) in the case of the Events of Default described in Section 4(a)(i) - (vi) and (ix) - (xii), 125% or (ii) in the case of the Events of Default described in Section 4(a)(vii) - (viii), 100%.

  • Accumulation Period Amount means $41,666,666.67; provided, however, if the Accumulation Period Length is determined to be less than twelve (12) months pursuant to Section 3.10(b)(ii) of the Indenture Supplement, the Accumulation Period Amount shall be the amount specified in the definition of “Accumulation Period Amount” in the Indenture Supplement.

  • Yield Maintenance Premium means the amount (if any) which, when added to the remaining principal amount of this Note, will be sufficient to purchase U.S. Obligations providing the required Scheduled Defeasance Payments; and

  • Yield Maintenance Amount means, with respect to any Note, an amount equal to the excess, if any, of the Discounted Value of the Called Principal of such Note over the sum of (i) such Called Principal plus (ii) interest accrued thereon as of (including interest due on) the Settlement Date with respect to such Called Principal. The Yield-Maintenance Amount shall in no event be less than zero.