Instalment Premium definition

Instalment Premium means the premium amount specified in the Schedule which is payable under this Policy at the frequency and in the modes specified in the Schedule.
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Instalment Premium is the premium as payable by You as per the Policy Schedule to effect and continue this Policy Contract.
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Instalment Premium means the amount stipulated in the Policy Schedule and payable at regular intervals (yearly/half yearly/quarterly or monthly frequency as applicable) by the Policyholder as consideration for acceptance and continuance of risk and Benefits specified as such in the Policy Document.
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Examples of Instalment Premium in a sentence

  • If the actual Age of the Life Assured is such that the Life Assured would not have been eligible under this insurance product either on Policy Commencement Date or on date of Death for insurance coverage, this Policy shall be cancelled with effect from the Policy Commencement Date and the Instalment Premium received shall be refunded after the deduction of the stamp duty charges and costs incurred by Us on the medical examination of the Life Assured, if any.

  • We will cancel this Policy and refund the Instalment Premium received after deducting proportionate risk premium for the period on cover, stamp duty charges and expenses incurred by Us on the medical examination of the Life Assured (if any).

  • Revival Period is 2 consecutive years from the first Premium Due Date on which the Instalment Premium was unpaid.

  • Revival Period is 5 consecutive years from the first Premium Due Date on which the Instalment Premium was unpaid.

  • We will permit any change to be made to the frequency at which the Instalment Premium is payable as recorded in the Policy Schedule.

  • If after the receipt of Instalment Premiums for the first 2 Policy Years in full, any subsequent Instalment Premium remains unpaid upon the expiry of the Grace Period, this Policy will be converted into a Reduced Paid Up Policy.

  • The premium payable will be “Total Instalment Premium” which includes• Instalment Premium for Base Policy and• Instalment Premium for Rider(s), if rider(s) has been opted for.The term ‘Premium’ used anywhere in this Policy Document does not include any taxes which is payable separately.

  • Revival Period is five consecutive years from the first Premium Due Date on which the Instalment Premium was unpaid.

  • We will not permit any changes to be made to the frequency at which the Instalment Premium is payable as recorded in the Schedule.

  • Non-Forfeiture ProvisionsIf any Instalment Premium remains unpaid at the end of the Grace Period (Refer Part C), this Policy will be subject to the non-forfeiture provisions as stipulated below.


More Definitions of Instalment Premium

Instalment Premium means the premium amount specified in the Schedule which is payable
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Instalment Premium means the premium amount specified in the Schedule which is payable under this Policy
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Instalment Premium means the premium payable by policyholder as per the chosen premium payment mode (Yearly/Half-yearly/Quarterly/Monthly).
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Related to Instalment Premium

  • Prepayment Premium means, with respect to the Mortgage Loan, any prepayment premium, spread maintenance premium, yield maintenance premium or similar fee required to be paid in connection with a prepayment of the Mortgage Loan pursuant to the Mortgage Loan Documents, including any exit fee.

  • Auction Premium means the difference in price (if any) between the Starting Price and the Clearing Price;

  • Repayment Price means, when used with respect to any Security to be repaid at the option of the Holder, the price at which it is to be repaid by or pursuant to this Indenture.

  • Yield Maintenance Premium means the amount (if any) which, when added to the remaining principal amount of the Note or the principal amount of a Defeased Note, as applicable, will be sufficient to purchase U.S. Obligations providing the required Scheduled Defeasance Payments.