Life Insurance Trust definition

Life Insurance Trust means an irrevocable life insurance trust settled by an Insured (or any other grantor who has a legal and valid insurable interest in the Insured).
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Life Insurance Trust means an irrevocable trust to which a Participant has transferred his or her actual and prospective incidents of ownership in the life insurance benefits provided under this Plan.
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Examples of Life Insurance Trust in a sentence

  • Upon notification by New York Life Insurance Trust to cease to use such name, the Trust (to the extent that it lawfully can) will cease to use such name or any other name indicating that the Trust is advised or administered by or otherwise connected with New York Life Insurance Company or any organization which shall have succeeded to its business.

  • Example 3 - Annual Exclusion Gifts with an Irrevocable Life Insurance Trust Ted and Joan Smith established an Irrevocable Life Insurance Trust to benefit their son, Bill.

  • FPT or FMTC will serve as trustee of an Irrevocable Life Insurance Trust for a client who also has a Managed Trust or Investment Management Account already established with Fidelity Private Portfolio Service.

  • This is a separate fee that applies when the Life Insurance Trust holds a life insurance policy as a trust asset.

  • The Grantor must have an insurable interest in the life of the Insured and all beneficiaries of the Life Insurance Trust must be individuals or tax-exempt charities with an insurable interest in the life of the Insured or an estate planning vehicle, all of the owners or beneficiaries of which have an insurable interest in the life of the Insured.

  • The Company shall timely pay all premiums for such life insurance whether provided by the Company for Executive or by Executive's Life Insurance Trust for the Executive.

  • An Irrevocable Life Insurance Trust [“ILIT”] names an irrevocable trust as both the owner and the beneficiary of a life insurance policy and almost always does not name the insured as the trustee.

  • Rausman, Trust FBO Pearl Rausman, Rausman 1977 Life Insurance Trust, Rivkah Rausman, Trust FBO 7 Grandchildren, Caroline Reckler, Gillian Reckler, Jon Reckler, Stephanie Reckler, Shlomo Schon, Edward Strafaci, Linda Strafaci, Joanne S.

  • Xxxxx ---------------------------- Life Insurance Trust, The Xxxx X.

  • If you become “disabled” before age 65 and remain so for six months, the AVMA Group Health and Life Insurance Trust will pay further premiums to continue Disability Income and Basic Protection Package coverages in force when that disability began.

Related to Life Insurance Trust

  • Life insurance means contracts that incorporate mortality risk, including annuity and pure endowment contracts, and as may be specified in the valuation manual.

  • Life Insurance Policy has the meaning given in Section 6.11.

  • Life Insured means the person named in the Schedule, on whose life the Policy is effected;

  • life insurance business means the business of providing or undertaking to provide policy benefits under life policies;

  • Insurance Company The Transferee is an insurance company whose primary and predominant business activity is the writing of insurance or the reinsuring of risks underwritten by insurance companies and which is subject to supervision by the insurance commissioner or a similar official or agency of a state, U.S. territory or the District of Columbia.

  • Insurance Companies means the companies with whom the Insurance Policies are held.

  • Life insurance producer means any person licensed in this state as a resident or nonresident insurance producer who has received qualification or authority for life insurance coverage or a life line of coverage pursuant to chapter 522B.

  • Mortgage Insurance means insurance protecting Lender against the nonpayment of, or default on, the Loan.

  • Certificate Insurance Policy The Financial Guaranty Insurance Policy No. CA01172A, and all endorsements thereto dated the Closing Date, issued by the Certificate Insurer for the benefit of the Class AF-3 Certificateholders.

  • Mortgage Insurer means CMHC, Genworth Financial Insurance Company Canada, or any other company that insures the payment of mortgages to mortgage lenders.

  • Mortgage Impairment Insurance Policy A mortgage impairment or blanket hazard insurance policy as described in Section 4.11.

  • FHA Mortgage Insurance means, mortgage insurance authorized under the National Housing Act, as amended from time to time, and provided by the FHA.

  • Primary Mortgage Insurance Policy Any primary mortgage guaranty insurance policy issued in connection with a Mortgage Loan which provides compensation to a Mortgage Note holder in the event of default by the obligor under such Mortgage Note or the related Security Instrument, if any or any replacement policy therefor through the related Interest Accrual Period for such Class relating to a Distribution Date.

  • policy of life insurance means any instrument by which the payment of money is assured on death (except death by accident only) or the happening of any contingency dependent on human life, or any instrument evidencing a contract which is subject to payment of premiums for a term dependent on human life;

  • Health-care-insurance receivable means an interest in or claim under a policy of insurance which is a right to payment of a monetary obligation for health-care goods or services provided.

  • Income trust means a trust that is not a unitrust.

  • the Macfarlane Trust means the charitable trust, established partly out of funds provided by the Secretary of State to the Haemophilia Society, for the relief of poverty or distress among those suffering from haemophilia;

  • FHA Mortgage Insurance Contract means the contractual obligation of the FHA respecting the insurance of a Mortgage Loan.

  • Credit life insurance means insurance on the life of a debtor in connection with

  • insurance agent means, subject to subsection (2), any person who for any compensation and through any medium does one or more of the following:

  • Captive insurance company means any pure captive insurance company, association captive

  • Association captive insurance company means a company that insures risks of the member organizations of the association and their affiliated companies.

  • National City National City Mortgage Co., or any successor thereto.

  • Insurance Advisor means Aon Risk Services and any replacement thereof appointed by the Required Secured Parties and, if no Event of Default shall then be occurring, after consultation with the Borrower.

  • Title Insurance Company means the company that has or will issue the title policies with respect to a Leased Property, which company shall be reasonably acceptable to the Funding Parties.

  • Alaska Native Corporation (ANC) means any Regional Corporation, Village Corporation, Urban Corporation, or Group Corporation organized under the laws of the State of Alaska in accordance with the Alaska Native Claims Settlement Act, as amended (43 U.S.C. 1601, et seq.) and which is considered a minority and economically disadvantaged concern under the criteria at 43 U.S.C. 1626(e)(1). This definition also includes ANC direct and indirect subsidiary corporations, joint ventures, and partnerships that meet the requirements of 43 U.S.C. 1626(e)(2).