Annualized Premium definition
Examples of Annualized Premium in a sentence
The bonus percentages are as follows: Level I $15,000 Paid Annualized Premium 5% Level II $30,000 Paid Annualized Premium 10% Level III $45,000 Paid Annualized Premium 15% The percentage will be applied to variable universal life first policy year target premium actually received by Southland during the bonus period.
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.
However, in the event that PILIC has not realized at least $35 million of Annualized Premium which is in force on December 31, 1996, no Options shall be issued for the year 1996.
Net First Year Annualized Premium (NFYAP) is disability insurance annualized first year commissionable premium net of any first year lapses and excluding Premium Refund Riders.
For the one-year period commencing on January 1, 1996 and ending on December 31, 1996, provided that PILIC has realized at least $35 million of Annualized Premium (as defined herein), PAMCO agrees to grant to Field as of December 31, 1996 an Option to purchase 100,000 shares of PAMCO Stock at the Market Price on January 1, 1996, subject to adjustment as provided in Paragraph 5 hereof.