Examples of Annualized Premium in a sentence
Computer Operators shall be paid a shift premium of fifty (50) cents per hour for all scheduled hours worked on the night shift between 12:00 a.m. (midnight) and 8:00 a.m. The parties agree that such premiums described above shall be annualized, based on the projected annual schedule and paid out on a monthly basis using the following formula: Annualized Premium ÷ 12 = monthly shift premium lump sum amount.
Your Policy Schedule specifies the Annualized Premium, the Premium Payment Frequency, the Instalment Premium and its due dates, as applicable, subject to the Policy Discontinuance, Reduced Paid-up (RPU) and Revival provisions.
On all individual Life policies personally written by the General Agent and issued by the Company, the Company will pay ACAP (Advance Commission on Annualized Premium), which is the total writing and overriding commission payable on the lesser of the annualized first year minimum premium or target premium, in the following percentages: CHECK CODE UL % REG / PD LIFE % REG / PD MAX ACAP MIN RENEW O 50% 50% N/A 500 1.