Annualised Premium definition

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.

Annualised Premium means the sum total of Annual Premium and Extra Premium, if any, as specified in the Schedule;

Annualised Premium means the amount specified in the Schedule which is the total Instalment Premium payable for a Policy Year.

Examples of Annualised Premium in a sentence

• If at the correct age, the Life Assured was insurable, then We may revise the Annualised Premium and/or applicable benefits payable under the Plan from the Date of Commencement of Risk by adjusting or deducting the differential premium that would have been payable.

• The Annualised Premium cannot be decreased or increased at any point of time except due to a change in Premium paying frequency and only to that extent.

• The minimum Sum Assured on Death shall be highest of:• 10 times of Annualised Premium; OR• 105% of the Total Premiums Paid as on date of death; OR• Guaranteed Sum Assured on Maturity@; OR• Any absolute amount assured to be paid on death.

• The Company will levy an Allocation Charge as a percentage of the Annualised Premium.

• For Regular and Limited Pay Policies, 1% of your Annualised Premium shall be added to the Fund Value at the time of allocation of Premium for first 5 Policy years.For Single Pay Policies, 1% of your Single Premium shall be added to the Fund Value once during Premium allocation.Special Additions will be available under all three Plan Options.

More Definitions of Annualised Premium

Annualised Premium. Means the total of all Premiums payable by the Policyholder in one Policy year excluding the underwriting extra Premiums and loadings for modal Premium.The Annualised Premium shall also exclude Goods and Services Tax and Cess and Rider Premium, if any.

Annualised Premium means the due premium as calculated and payable for a Policy Year. Annualised Premium excludes underwriting extra premium, frequency loadings on premium, if any, the premiums paid towards the Riders, if any and applicable taxes

Annualised Premium means the amount specified in the Schedule, which is the level premium payable in a Policy Year by regular instalments as and when due;

Annualised Premium means the total amount of Regular Premiums payable in a Policy Year. In this calculation any extra premium, Rider Premium or applicable taxes are excluded.

Annualised Premium means the total of the Regular Premium/s payable in a Policy Year, excluding any Extra Premium, and GST and cess, if any.

Annualised Premium means the due premium contribution as calculated and applicable for a Policy Year. Annualised Premium excludes extra premium, if any

Annualised Premium means the premium payable in a year chosen by the policyholder, excluding any underwriting extra premiums and loadings for modal premiums, if any.