Contract premium definition

Contract premium means the gross premium that is required to be paid under a fixed premium policy, including the premium for a rider for which benefits are shown in the illustration.
Contract premium means the gross premium that is required to

Examples of Contract premium in a sentence

  • Dealer further agrees to cancel the Service Contract upon Customer's written request, or where applicable, Westlake's written request, and to remit or cause the administrator or underwriter to remit and refund the unearned portion of the Service Contract premium to Westlake, as required by Westlake.

  • For purposes of this Contract, premium for an extended reporting period shall be considered fully earned on the last day of the final period of the Policy to which the extended reporting period applies.

  • In the event of cancellation for non- payment of Contract premium, such cancellation will be made in writing to You and the Lienholder (if applicable), not less than ten (10) days notice.

  • For non-payment of Contract premium, written notice shall be 10 days and if cancelled for any other reason written notice shall be 30 days.

  • LMG’s marketing fees are based on the Contract premium and the Account Value of the Contract.

  • Pursuant to the Contract, premium payments in excess of applicable charges become part of a fund that is invested in one or more of fifteen sub-accounts, the assets of which are invested in an underlying mutual fund.After the initial allocation of funds among the sub-accounts, the Contract owner may change that allocation by making transfers.

  • Coverage under the applicable Contract may continue in accordance with the terms of the Contract for the remainder of the period of coverage with respect to which the required Contract premium has been paid.

  • If the cost of an Employer-sponsored Contract premium increases (or decreases) during a period of coverage and, under the terms of the Contract, Eligible Employees are required to make a corresponding change in their payments, the Plan may, on a reasonable and consistent basis, automatically make a prospective increase (or decrease) in affected Eligible Employees' elective contributions for the Plan.

  • If the cost of an Employer-sponsored Contract premium increases (or decreases) during a Period of Coverage and, under the terms of the Contract, Eligible Employees are required to make a corresponding change in their payments, the Plan may, on a reasonable and consistent basis, automatically make a prospective increase (or decrease) in affected Eligible Employees' salary reduction contributions for the Plan.

  • Coverage under the applicable Contract may continue in accordance with the terms of the Contract for the remainder of the Period of Coverage with respect to which the required Contract premium has been paid.

Related to Contract premium

  • The Contract Price means the price payable to the Supplier under the Contract for the full and proper performance of its contractual obligations.

  • Contract Price means the price payable to the supplier under the contract for the full and proper performance of his contractual obligations.

  • Contract Cost means the Contract Sum plus Price Variation. This cost shall be included in the letter of acceptance.

  • Bond Service Charges means principal, including mandatory sinking fund requirements for retirement of obligations, and interest, and redemption premium, if any, required to be paid by the state on obligations.