Death Sum Assured definition

Death Sum Assured means the amount as specified in the Schedule and which is payable on the death of the Life Insured in accordance with Section 2 of the policy document
Sample 1Sample 2Sample 3
Death Sum Assured means the highest of
Sample 1Sample 2Sample 3
Death Sum Assured means the amount which is payable on the death of the Life Assured in accordance with Section 2 of the policy document
Sample 1Sample 2

Examples of Death Sum Assured in a sentence

  • Provided that, We will deduct from the Death Sum Assured payable any outstanding Regular Premium that would otherwise have been payable during the Policy Year in which the Insured Event occurred.

  • Death Sum Assured means the amount payable in case of death of the Life Insured according to the terms and conditions of this Policy.

  • The Death Sum Assured will be reduced by the total premiums falling due and unpaid during the policy year in which death occurs.

  • Provided that, We will deduct from the Death Sum Assured payable any outstanding Regular Premium that would otherwise have been payable during the Policy Year in which the Insured Event occurred.PART D Aviva New Family Income BuilderPolicy Document 1.

  • If the Life Assured dies on or after the Risk Commencement Date but during the Policy Term provided the Policy has not been Surrendered, the Death Sum Assured will be payable immediately to the Nominee or legal heirs on acceptance of claim where Death Sum Assured shall be the higher of1.

  • On death of the Life Insured during the policy term, due to Accident the benefit equal to twice the Death Sum Assured (as defined above) will be payable as a lump sum.

  • If the Life Assured dies on or after the Risk Commencement Date but during the Policy Term provided the Policy has not been Surrendered, the Death Sum Assured will be payable immediately to the Nominee or Legal Heirs on acceptance of claim where Death Sum Assured shall be the higher of1.

  • The Paid-Up Death Sum Assured is calculated as (Total Premiums Paid / Total Premiums payable over the Premium Payment Term) x Base Sum Assured.

  • Any time after the policy acquires Surrender Value, you may choose to continue with this Policy, on expiry of the grace period for payment of premium, as a paid-up insurance for a reduced Sum Assured and reduced death Sum Assured; the Sum Assured and the Death Sum Assured being reduced in the proportion as the number of premiums actually paid shall bear to the total number of premiums payable as stipulated for in the Policy Schedule.

  • Death Sum Assured as defined below will be payable to the beneficiary upon death of the Life Assured during the policy term, provided the policy is in force.


More Definitions of Death Sum Assured

Death Sum Assured means the Death Sum Assured shown in the policy schedule, The death sum assured is higher of 10 times annualised premium(for age less than 45) and 7 times annualised premium (for age 45 and above) Maturity Sum Assured
Sample 1Sample 2
Death Sum Assured means the amount which is payable in accordance with Part C.
Sample 1Sample 2
Death Sum Assured means the Death Sum Assured shown in the policy schedule, which is the minimum amount guaranteed to be paid on death of the insured person during the term of the policy. The Death Sum Assured is highest of 10 times of annual premium (exclusive of service tax and mortality loadings) or 105% of all premiums paid or maturity sum Assured
Sample 1Sample 2
Death Sum Assured means the face amount chosen as cover on the cover commencement date by the insured member. In the case of reducing death benefit option, the death benefit reduces as per the benefit schedule.
Sample 1
Death Sum Assured means the absolute amount which is utilized to calculate the Death Benefit and is defined as higher of 10 times the Annualized Premium or Basic Sum Assured or Maturity Sum Assured
Sample 1

Related to Death Sum Assured

  • Sum Assured means the amount specified in the Schedule

  • Remainder beneficiary means a person entitled to receive principal when an income interest ends.

  • Condominium Association ’ means the organization, whose membership consists ex- clusively of all the unit owners in the con- dominium project, which is, or will be respon- sible for the operation, administration, and management of the condominium project;

  • Tenant Improvement Allowance in the maximum amount of $200.00 per rentable square foot in the Premises, which is included in the Base Rent set forth in the Lease; and

  • Casualty Retainage means an amount equal to ten percent (10%) of the costs actually incurred for work in place as part of the Restoration, as certified by the Casualty Consultant, until the Restoration has been completed. The Casualty Retainage shall in no event, and notwithstanding anything to the contrary set forth above in this Section 6.4(b), be less than the amount actually held back by Borrower from contractors, subcontractors and materialmen engaged in the Restoration. The Casualty Retainage shall not be released until the Casualty Consultant certifies to Lender that the Restoration has been completed in accordance with the provisions of this Section 6.4(b) and that all approvals necessary for the re-occupancy and use of the Property have been obtained from all appropriate governmental and quasi-governmental authorities, and Lender receives evidence satisfactory to Lender that the costs of the Restoration have been paid in full or will be paid in full out of the Casualty Retainage; provided, however, that Lender will release the portion of the Casualty Retainage being held with respect to any contractor, subcontractor or materialman engaged in the Restoration as of the date upon which the Casualty Consultant certifies to Lender that the contractor, subcontractor or materialman has satisfactorily completed all work and has supplied all materials in accordance with the provisions of the contractor’s, subcontractor’s or materialman’s contract, the contractor, subcontractor or materialman delivers the lien waivers and evidence of payment in full of all sums due to the contractor, subcontractor or materialman as may be reasonably requested by Lender or by the title company issuing the Title Insurance Policy, and Lender receives an endorsement to the Title Insurance Policy insuring the continued priority of the lien of the Mortgage and evidence of payment of any premium payable for such endorsement. If required by Lender, the release of any such portion of the Casualty Retainage shall be approved by the surety company, if any, which has issued a payment or performance bond with respect to the contractor, subcontractor or materialman.

  • disability living allowance means a disability living allowance under section 71 of the SSCBA;

  • Tenant Inducement Costs shall not include loss of income resulting from any free rental period, it being agreed that Seller shall bear the loss resulting from any free rental period until the date of Closing and that Purchaser shall bear such loss from and after the date of Closing.

  • Damage Payment means the dollar amount equal to the amount initially posted as Project Development Security pursuant to Section 8.4(a).

  • Tenant’s Proportionate Share is, subject to the provisions of this Paragraph 3, the percentage number described in Item 4 of the Basic Lease Provisions. Tenant's Proportionate Share represents a fraction, the numerator of which is the number of square feet of Rentable Area in the Premises and the denominator of which is the number of square feet of Rentable Area in the Project, as determined by Landlord pursuant to Subparagraph 2(d) above.

  • Work loss means loss of income from work the injured victim would have performed if the injured victim had not been injured and expenses reasonably incurred by the injured victim in obtaining services in lieu of those the injured victim would have performed for income,

  • Retainage means that portion of the purchase price of an Export Order that a Buyer is not obligated to pay until the end of a specified period of time following the satisfactory performance under such Export Order.

  • Reassured shall be understood to mean “Company”, “Reinsured”, “Reassured” or whatever other term is used in the attached reinsurance document to designate the reinsured company or companies.

  • Sum Insured means the sum as specified in the Schedule to this Policy against the name of Insured / each Insured Person, which sum represents the Company's maximum liability for any or all claims under this Policy during the Policy period for the respective benefit(s) against which the sum is mentioned in the Schedule to this Policy.

  • Disability allowance means monthly payments during

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Disability Benefit means the benefit set forth in Article 8.

  • Retirement allowance means the retirement payments to which a member is entitled.

  • Self-insured retention means the individual own risk employer's or group self-insurance association's retained amount of risk under a specific excess insurance policy, before the liability is transferred to an insurance carrier.

  • Tenant’s Pro Rata Share means the percentage calculated by dividing the rentable area of the Premises (numerator) by the rentable area of the Building (denominator), and expressing the fraction as a percentage.

  • Utility Allowance means a monthly allowance, as provided by the local public housing authority or as otherwise allowed by HUD rules and the GLO rules, for utilities and services (excluding telephone services) to be paid by the tenant.

  • Refund beneficiary means an individual nominated by a qualified participant or a former qualified participant under section 66 to receive a distribution of the participant's accumulated balance in the manner prescribed in section 67.

  • Facility Mortgagee means the holder of any Facility Mortgage.

  • Share Premium Account means the share premium account established in accordance with these Articles and the Companies Act;

  • Construction Lender means a person who makes a construction loan.

  • Respective Part of the Project means, for the Recipient and for any Project Implementing Entity, the part of the Project specified in the Legal Agreements to be carried out by it.

  • converted employment and support allowance means an employment and support allowance which is not income-related and to which a person is entitled as a result of a conversion decision within the meaning of the Employment and Support Allowance (Existing Awards) Regulations 2008;