Examples of Insurance Amount in a sentence
No withdrawal will be permitted under a Type A (fixed) Contract if it would result in a Basic Insurance Amount less than the minimum Basic Insurance Amount.
It also represents the commencement of the suicide and contestable periods for purposes of the Basic Insurance Amount.
During any period in which a Contract is in default, the Contract Owner may not change the way in which subsequent premiums are allocated or increase the amount of insurance by increasing the Basic Insurance Amount of the Contract (if applicable).
However, under a Type A (fixed) Contract, the withdrawal may require a reduction in the Basic Insurance Amount.
If a decrease in Basic Insurance Amount reduces coverage to below the surrender charge threshold, a surrender charge may be deducted.