Loan repayment definition
Examples of Loan repayment in a sentence
You may allocate Accumulated Value, Net Premium, and Loan Repayment to one or more Accounts, subject to the conditions provided in this section.
If you designate a portion of the Net Premium or Loan Repayment to be allocated to the Variable Account(s) before the Free Look Transfer Date, the Net Premium or Loan Repayment will first be deposited in a money market variable account that we designate.
Allocation Instructions are instructions In Writing that identify the Account(s) to which the Net Premium or Loan Repayment will be allocated.
A Grace Period of 61 days will be allowed for the payment of sufficient Loan Repayment or premium to keep this Policy In Force.
For allocations or transfers into an Indexed Account to be effective on a given Segment Start Date, the following must be received at our Administrative Office by the Cut-Off Date shown in the Policy Specifications: · Any instructions for Net Premium or Loan Repayment to be allocated to an Indexed Account; or · Any instructions for transfers of Designated Fixed Account Value or reallocation of Segment Maturity Value to the Indexed Account(s).