Excess premium definition
Excess premium means the amount by which a contract premium in the first policy year exceeds the contract premium in the 2nd policy year.
Excess premium means a premium which is received by, or which becomes due to, a long-term insurer during a premium period, and which -
Excess premium means premium paid in any policy year in excess of basic or target premium.
Examples of Excess premium in a sentence
Excess premium amounts shall be the responsibility of the employee and will be payroll deducted.
Excess premium is the first-year premium paid in excess of the first-year annualized commissionable premium for a Universal Life policy.
Excess premium is the first‐year premium paid in excess of the first‐year annualized commissionable premium on Universal Life policies.
More Definitions of Excess premium
Excess premium is the premium credited to a Flexible Premium policy in the first year that is greater than New premium.
Excess premium means the premium paid to Travelers Corporate Variable Universal Life that is above the target premium in any year.
Excess premium means the premium paid to Travelers Corporate Variable Universal Life that is above the target premium in any year. "PRODUCTION LEVEL" is measured by the amount of premiums paid to a maximum of the 7-Pay premium associated with the full initial death benefit for business issued and paid in 1999-2000.