Annual Target Premium definition

Annual Target Premium or “ATP” means the level Premiums payable by the Policyholder in a Policy Year by regular instalments in the amounts and on the due dates in the manner specified in the Schedule.
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Annual Target Premium or “ATP” means the level/ increasing Premiums payable by You in a Policy Year by regular instalments in the amounts and on the due dates in the manner specified in the Schedule. In case, “Increasing Premium” payment option is chosen, ATP payable will automatically increase each year by an amount equal to 5% of first year ATP.
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Examples of Annual Target Premium in a sentence

  • If the Specified Amount is increased or decreased within the first 5 Policy Years a new Annual Target Premium Payment will be declared by us.

  • This new Annual Target Premium Payment will be used to make the described calculation to determine whether the Guaranteed Death Benefit applies.

  • You have the option to pay planned periodic premium payments based on the Annual Target Premium Payment.

  • If upon any Monthly Anniversary during the first five policy years the total planned and unscheduled premium you have paid, less any partial surrenders, is equal to or greater than the Annual Target Premium Payment prorated for the number of Monthly Anniversaries that have occurred since the Policy's Effective Date, then we guarantee that this policy will not lapse on that Monthly Anniversary, even if the cash value is insufficient to pay for the Monthly Deduction and any loan interest then due.

  • The Annual Target Premium, which is calculated on the date a policy is issued, establishes a threshold for the policy’s premium load charges.

  • Response to Comment No. 16: We have added disclosure on page 14 describing the four different premium concepts and to clarify that the Planned Annual Premium and Annual Target Premium concepts are not mutually exclusive.

  • If upon any Monthly Anniversary during the first five policy years the total planned and unscheduled premium you have paid, less any partial surrenders is equal to or greater than the Annual Target Premium Payment prorated for the number of Monthly Anniversaries that have occurred since the Policy's Effective Date, then we guarantee that this policy will not lapse on that Monthly Anniversary, even if the cash surrender value is insufficient to pay for the Monthly Deduction and any loan interest then due.

  • If the premiums actually paid by the Policy Owner are higher than the Annual Target Premium, then the premium load charges will be lower than if premiums were paid that were less than the Annual Target Premium.

Related to Annual Target Premium

  • Bonus Target means the annual bonus that the Executive would have received in a fiscal year under the AIP Plan and/or the EIC Plan, if the target goals had been achieved.

  • Soft Target means a target that will suffer minimum damage and cause minimum damage to the subject vehicle in the event of a collision.

  • Annual Turnover means the actual turnover achieved during your first year of operations, from the commencement of your business to the date of the damage, converted to a 12-month equivalent figure.

  • Target EBITDA means, for each fiscal year, the EBITDA set forth in the operating budget of the Company, as approved by the Board, for the particular year.

  • Yearly (1/Year) sampling frequency means the sampling shall be done in the month of September, unless specifically identified otherwise in the effluent limitations and monitoring requirements table.

  • Baseline Period means the period used to determine the baseline emission rate for each regulated pollutant under OAR 340 division 222.

  • Quarterly (1/Quarter) sampling frequency means the sampling shall be done in the months of March, June, August, and December, unless specifically identified otherwise in the Effluent Limitations and Monitoring Requirements table.

  • Semi-annual (2/Year) sampling frequency means the sampling shall be done during the months of June and December, unless specifically identified otherwise.

  • Cumulative EBITDA means, as of any date of determination, EBITDA of the Company from the Existing Notes Issue Date to the end of the Company’s most recently ended full fiscal quarter prior to such date, taken as a single accounting period.

  • Incremental Available Transfer Capability Revenue Rights means the rights to revenues that are derived from incremental Available Transfer Capability created by the addition of Merchant Transmission Facilities or of one of more Customer-Funded Upgrades.