Deferred Acquisition Cost definition

Deferred Acquisition Cost means deferred acquisition cost (as determined from the applicable line item in the consolidated financial statements of the Borrower prepared in accordance with Clause 19.3 ( Requirements as to financial statements)) (on a consolidated basis) in respect of insurance policies issued by the Group.
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Deferred Acquisition Cost means premium taxes, agents' commissions net of ceding commissions under third party reinsurance contracts, assessments for boards and bureaus, guaranty funds and other residual market assessments, and any other expenses paid by the Royal Insurer Affiliates in connection with the issuance of the Assumed Contracts.
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Examples of Deferred Acquisition Cost in a sentence

  • NET PREMIUM - Equals premiums paid less the Premium Load, Premium Tax Charge and the Federal Deferred Acquisition Cost (DAC Tax) Charge as shown on Page 3.

  • SCHEDULE (CONTINUED) EXPENSE CHARGES PREMIUM EXPENSE CHARGES (As a Percent of all Premiums): Sales Load: Segment Issue Age Sales Load 0-49 2.25% 50-59 3.25% 60+ 4.25% State And Local Taxes: 2.5% Federal Deferred Acquisition Cost Charge: 1.5% MONTHLY EXPENSE CHARGES: $13.00 per Policy month for the first 36 months $3.00 per Policy month thereafter; plus $0.0125 per thousand of Stated Death Benefit (or Target Death Benefit, if greater), all years.

  • Upon annuitizations Reinsurer will receive a load that covers future maintenance expenses as well as any unamortized Deferred Acquisition Cost.

  • SCHEDULE (Continued) EXPENSE CHARGES PREMIUM EXPENSE CHARGES (As a Percent of all Premiums): Sales Load: Segment Issue Age Sales Load 0 - 49 2.25% 50 - 59 3.25% 60+ 4.25% State And Local Taxes: [2.5%] Federal Deferred Acquisition Cost Charge: [1.5%] We reserve the right to increase or decrease the Premium Expense Charges for taxes due to any change in tax law.

  • Reinsurance Coverage 1 Exclusions 1 Reinsurance Premiums 1 Reports 2 Reimbursement of Losses 2 Acknowledgments 2 Experience Refund 3 Covenants 3 Audit 4 Insolvency 4 Offset 5 Errors 5 Arbitration 5 Deferred Acquisition Cost Tax Election 6 Entire Agreement 6 Parties to the Agreement 6 Effective Date 7 Definitions 7 Execution 8 COVERAGE SCHEDULE 9 REPORT SCHEDULE 11 EXPERIENCE REFUND SCHEDULE 12 ARBITRATION SCHEDULE 13 Reinsurance Coverage Lincoln shall reimburse Allmerica for Reinsured Claims.

  • A Deferred Acquisition Cost (DAC) asset is forecasted for 1st year commissions, which is assumed to be recoverable from future margins.