Divisible surplus definition

Divisible surplus means the annual distribution described in s. 632.62 (4) (b) as a payment made to policyholders as determined by the board.
View Source
Divisible surplus means any surplus from the life insurance fund to be distributed from time to time as bonus and/or dividends.
View Source
Divisible surplus means any surplus from the life insurance fund to be distributed from time to time as bonus and/ or dividends.
View Source

Examples of Divisible surplus in a sentence

  • Divisible surplus, if any, to be apportioned to the contract shall be apportioned annually and shall be paid in cash or credited to the Contract Value at the end of the contract year.

  • Divisible surplus, if any, to be apportioned to this contract shall be apportioned annually and will be allocated by us equitably among all Participants.

  • Divisible surplus, if any, to be apportioned to the contract shall be apportioned annually and shall be paid in cash or credited to your Contract Value at the end of the contract year.

  • Divisible surplus so allocated will be credited as Purchase Payments to the Participants' Variable and Fixed Accounts, unless the Participant elects to have it paid in cash.

  • Divisible surplus apportioned to this contract, if any, will be applied to provide additional accumulation units or annuity units unless you elect to have it paid in cash.

  • Divisible surplus so allocated will be credited as Purchase Payments to the Participants' Variable and Fixed Accounts, unless the Owner elects to have it paid in cash.

  • Divisible surplus, if any, to be apportioned to the contract shall be apportioned annually and shall be paid in cash or applied to provide additional accumulation units or annuity units under the contract.

  • Divisible surplus, if any, to be apportioned to the Contract shall be ascertained and apportioned annually and shall be paid in cash or credited to the Contract Value at the end of the contract year.