Closed Block Policies definition

Closed Block Policies does not include, among other things, (a) Interest Sensitive Life Insurance Policies or variable life insurance policies, (b) annuity contracts not described in (iii) above, (c)
Closed Block Policies means the individual life insurance policies allocated pursuant to the Closed Block Memorandum to the Closed Block. "Closed Block Policies" as used in this Agreement is intended to refer to all such insurance policies which are in-force as of the Effective Date, as well as any riders providing for other supplemental benefits, and specifically includes (i) all lapsed policies subject to reinstatement and (ii) any supplemental benefits arising out of the Closed Block Policies.
Closed Block Policies. (as defined in the Plan). The Closed Block will consist of "Closed Block Assets" and "Closed Block Liabilities" (each as defined in the Plan), and the assets included in the Closed Block Assets and the liabilities included in the Closed Block Liabilities shall be substantially consistent with the assets and liabilities included in such categories for purposes of preparing the pro forma financial information that has been previously provided to the Subscribers and that is included in the S-1 Registration Statement. The initial Closed Block Assets will be allocated to the Closed Block in order to produce cash flows to support the Closed Block Policies. The Company believes that the Closed Block Assets, together with the anticipated revenue from the Closed Block Policies, were reasonably sufficient as of the "Closed Block Funding Date" (as defined in the Closed Block Memorandum attached as an Exhibit to the Plan) to support the Closed Block Policies, and to provide for the continuation of the dividend scales in effect on the Adoption Date payable on the Closed Block Policies to reflect the underlying experience of the Closed Block. Such dividend scales may be adjusted by the Board of Directors of Prudential pursuant to the Plan if such experience changes as noted in the Disclosure Letter;

Examples of Closed Block Policies in a sentence

  • The Company shall pay all guaranteed benefits for Closed Block Policies in accordance with the terms of such policies.

  • The Canadian Closed Block shall be operated for the exclusive benefit of the Canadian Closed Block Policies in accordance with Part Two of this Exhibit H.

  • All DNPs, issued pursuant to initial choices of ADR relief, or pursuant to repurchases of coverage as described earlier in this ADR Memorandum, which otherwise satisfy the conditions set forth in the definition of "Closed Block Policies", shall be considered Closed Block Policies, even if such DNPs are issued after the Effective Date.

  • The Closed Block Assets are the Company's assets and the establishment of the Closed Block shall not in the event of the rehabilitation or liquidation of the Company affect the priority of the claims of the holders of Closed Block Policies to such assets in relation to the claims of all other policyholders and creditors of the Company.

  • The Closed Block shall be operated for the exclusive benefit of the Closed Block Policies in accordance with the requirements of this Article IX and the Closed Block Memorandum.

  • If the Closed Block is discontinued, the Closed Block Policies then remaining shall continue to be obligations of the Company and dividends on such Policies shall be apportioned by the Board in accordance with applicable law.

  • The Company may, with the Commissioner's prior consent, and subject to Article 7 of Chapter 18 of Title 17B of the New Jersey Revised Statutes, enter into one or more agreements to reinsure or otherwise transfer all or any part of its risks under the Closed Block Policies.

  • The amounts of such charges shall be determined in accordance with the schedule specified in the Closed Block Memorandum and shall be charged against the Closed Block to adjust funding in connection with Closed Block Policies.

  • Amendment or Cessation of Canadian Closed Block .........................18 OVERVIEW The Canadian Closed Block is the mechanism established for the purpose of providing over time for the reasonable dividend expectations of owners of Canadian Closed Block Policies.

  • A model based on September 30, 1999 Closed Block Policies in force was used in June, 2000, to estimate provisionally that the needed funding as of the Closed Block Funding Date would be approximately $48.9 billion (including policy loans).


More Definitions of Closed Block Policies

Closed Block Policies means all insurance policies and contracts (including supplementary contracts), together with all related binders, slips and certificates and including applications therefor and all supplements, endorsements, riders and agreements in connection therewith, that have been issued or assumed by the Company and which are included in the AmerUS Closed Block.

Related to Closed Block Policies

  • Closed-End Funds has the meaning set forth in Section 2.1(b).

  • Closed-end Fund means a registered investment company that raises capital only once, by issuing a fixed number of shares. The shares of the closed-end fund are typically traded on an exchange and their prices fluctuate throughout the trading day, based on supply, demand, and the changing values of their underlying holdings. Closed-end funds are also known as Listed Investment Companies in Australia, and Investment Trusts in the U.K. Closed-end funds do not include funds typically known as “Exchange-Traded Funds” (“ETFs”) organized as open-end investment companies or unit investment trusts.

  • Medicare supplement policy means a group or individual policy of [accident and sickness] insurance or a subscriber contract [of hospital and medical service associations or health maintenance organizations], other than a policy issued pursuant to a contract under Section 1876 of the federal Social Security Act (42 U.S.C. Section 1395 et. seq.) or an issued policy under a demonstration project specified in 42 U.S.C. § 1395ss(g)(1), which is advertised, marketed or designed primarily as a supplement to reimbursements under Medicare for the hospital, medical or surgical expenses of persons eligible for Medicare. “Medicare supplement policy” does not include Medicare Advantage plans established under Medicare Part C, Outpatient Prescription Drug plans established under Medicare Part D, or any Health Care Prepayment Plan (HCPP) that provides benefits pursuant to an agreement under §1833(a)(1)(A) of the Social Security Act.

  • Post Closing Letter is that certain Post Closing Letter dated as of the Effective Date by and between Collateral Agent and Borrower.

  • Investment Policies means the investment objectives, policies, restrictions and limitations set forth in the “BUSINESS” section of its Registration Statement, and as the same may be changed, altered, expanded, amended, modified, terminated or restated from time to time.

  • Closed panel plan means a plan that provides health benefits to covered persons primarily in the form of services through a panel of providers that have contracted with or are employed by the plan, and that excludes benefits for services provided by other providers, except in cases of emergency or referral by a panel member.

  • Closed-end credit means a credit transaction that does not meet the definition of open-end credit.

  • D&O Policies has the meaning set forth in Section 8.06.

  • Post-closure plan means a plan indicating the actions to be taken for the care, maintenance, and monitoring of the Development after closure, that will prevent, mitigate, or minimize the threat to public health and the environment;

  • Disclosure Documents is defined in Section 5.3.

  • Customary Post-Closing Consents means the consents and approvals from Governmental Bodies for the assignment of the Assets to Purchaser that are customarily obtained after the assignment of properties similar to the Assets.

  • Monitoring Requirements Schedule means the Schedule containing details of the monitoring arrangements.

  • Closing Date Financial Statements has the meaning set forth in Section 2.3(a)(i).

  • SAP Policies means the operational guidelines and policies applied by SAP to provide and support the Cloud Service as incorporated in an Order Form.

  • Most Recent Financial Statements has the meaning set forth in Section 4(g) below.

  • Enclosed Documents [ ] Promissory Note [ ] Primary Insurance Policy [ ] Mortgage or Deed of Trust [ ] Assignment(s) of Mortgage or Deed of Trust [ ] Title Insurance Policy [ ] Other: Name: Title: Date: EXHIBIT G-1 FORM OF TRANSFER AFFIDAVIT AND AGREEMENT STATE OF ) ) ss.: COUNTY OF ) [NAME OF OFFICER], being first duly sworn, deposes and says:

  • Continuing care contract means, as stated in RCW 70.38.025, a contract providing a person, for the duration of that person's life or for a term in excess of one year, shelter along with nursing, medical, health-related, or personal care services, which is conditioned upon the transfer of property, the payment of an entrance fee to the provider of such ser- vices, or the payment of periodic charges for the care and ser- vices involved. A continuing care contract is not excluded from this definition because the contract is mutually termina- ble or because shelter and services are not provided at the same location.

  • Disclosure Letters means the Seller Disclosure Letter and the Buyer Disclosure Letter.

  • Public Filings means the reports, schedules, forms, statements and other documents filed by the Company or Bezeq with the SEC or the ISA, as applicable, and publically available at least two (2) Business Days prior to the date of this Agreement.

  • Closing Date Business Plan means the set of Projections of Borrowers for the 3 year period following the Closing Date (on a year by year basis, and for the 1 year period following the Closing Date, on a month by month basis), in form and substance (including as to scope and underlying assumptions) satisfactory to Agent.

  • Enclosed, locked facility means a building, room, greenhouse, outdoor fenced-in area, or other location that is enclosed on all sides and prevents cannabis from easily being viewed by the public. The facility shall be equipped with locks or other security devices that permit access only by:

  • Seller Financial Statements has the meaning set forth in Section 3.5(a).

  • Buyer Financial Statements shall have the meaning set forth in Section 4.6.

  • Interim Balance Sheet Date has the meaning set forth in Section 3.06.

  • Seller Plans has the meaning set forth in Section 3.13(a).

  • Purchaser Financial Statements shall have the meaning specified in Section 4.8.1.