Maturity Age definition

Maturity Age means the age of maturity or age of endowment set forth in the terms of a life insurance policy. If a life insurance policy does not specify an age of maturity or age of endowment, Maturity Age shall mean the limiting age under the life insurance policy. The limiting age of a life insurance policy is the terminal age of the mortality table specified in the policy for calculating reserves and/or non-forfeiture values, or, if the policy does not reference a mortality table for policy reserves and/or non-forfeiture values, then the limiting age is the terminal age of the mortality table used in calculating the cost of insurance for the policy.
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Maturity Age means the age of maturity or age of endowment set forth in the terms of a Policy. If a Policy does not specify an age of maturity or age of endowment, Maturity Age shall mean the limiting age under the Policy. The limiting age of the Policy is the terminal age of the mortality table specified in the Policy for calculating reserves and/or non-forfeiture values, or, if the Policy does not reference a mortality table for Policy reserves and/or non-forfeiture values, then the limiting age is the terminal age of the mortality table used in calculating the cost of insurance for the Policy.
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Maturity Age means the age attained in the year in which the payment of retirement income provided for by the plan, If having not commenced earlier, must commence, as prescribed under the Income Tax Act.
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Examples of Maturity Age in a sentence

  • Notwithstanding the above, charges incurred before the Maturity Age but posted after the Maturity Age shall not be reversed.

  • The legacy halfDuplexRedCapAllowed-r17 is reused to indicate Rel-18 eRedCap UE.

  • After the Child (or the Alternate Child, as the case may be) attains the Maturity Age the underlying Units of the Plan may be redeemed by the Child (or the Alternate Child, as the case may be) as the exclusive done.

  • The money shall be held in the Plan till the Child attains the Maturity Age and will not be transferred by the Investor.

  • The Company shall further provide notice to Auditor if it has determined that the Maturity Age or Maturity Date is different than the Maturity Age or Maturity Date provided by Auditor if the Company contends such difference affects Proceeds under the policy or Annuity Contract.

  • The Paid-Up Terminal Value is calculated as (Total Premiums Paid / Total Premiums payable over the Premium Payment Term) x Terminal Value, where: • Terminal Value = Base Sum Assured x (5% + 1.2% x (Maturity Age – 60))• Maturity Age is the Age of the Life Assured at Date of Maturity.

  • Anytime Exit Option: The Investor shall have the option to exercise Anytime Exit Option, from the time of initial investment, before the Child (or the Alternate Child, as the case may be) attains the Maturity Age.

  • Entry Age 0 - 60 years Maximum Maturity Age 90 years Premium Min: ₹15,000 p.a. Max: No Limit Premium Payment Term (PPT) 10 years Policy Term 30 years Basic Sum Assured 10 times of Annual Premium Premium Payment Mode Yearly, Half yearly, Quarterly, Monthly Premium Modal FactorThe following modal loadings will be used to calculate the installment Premium.

  • If the Insured is living at the Maturity Age, we will pay the Cash Value, if any, to the Owner(s).

  • Anytime Exit Option: The Investor shall have the option to exercise Anytime Exit Option, from the time of initial investment, before the Child (or the Alternate Child, as the case maybe) attains the Maturity Age.

Related to Maturity Age

  • Maturity when used with respect to any Security, means the date on which the principal of such Security or an installment of principal becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise.

  • Maturity Amount means the amount due at maturity with respect to a Capital Appreciation Bond.

  • Maturity Date means March 15, 2026.

  • Loan Maturity Date means the date on which the entire unpaid balance of the Loan, including principal and interest, is due and payable.

  • Facility Maturity Date means the earliest of (a) the Business Day designated by the Borrower to the Lender pursuant to Section 2.16(b) to terminate this Agreement, (b) the Stated Maturity or (c) the date on which the Facility Maturity Date is declared (or is deemed to have occurred automatically) pursuant to Section 7.01.

  • Tranche A Maturity Date means November 8, 2008, or, if such day is not a Business Day, the next preceding Business Day.

  • Term Loan Maturity Date means the Initial Maturity Date, or, if such date has been extended pursuant to Section 2.15, such later date to which the Term Loan Maturity Date has been extended pursuant to Section 2.15.

  • Term Loan A Maturity Date means July 29, 2025.

  • Term Facility Maturity Date means, as the context may require, (a) with respect to the Term B Facility in effect on the Closing Date, the Term B Facility Maturity Date and (b) with respect to any other Class of Term Loans, the maturity dates specified therefor in the applicable Incremental Assumption Agreement.

  • Term Maturity Date means (a) in the case of the Initial Term Loans, February 4, 2028 and (b) in the case of any Incremental Term Facility or any Other Term Loan, the date set forth in the applicable documentation in respect thereof.

  • Revolver Maturity Date means September 21, 2023, or, as to any Revolving Credit Lender for which the Revolver Maturity Date is extended pursuant to Section 2.17, the date to which the Revolver Maturity Date is so extended or, if such day is not a Business Day, the next preceding Business Day.

  • Maturity Payment Date means the date falling on the fifth Business Day following the Valuation Date, provided, however, that if the Reference Portfolio Return is not determined on such Valuation Date because the date at which the Reference Asset Return of one or more Reference Assets to be determined is postponed, then the Maturity Payment Date will be the fifth Business Day following the latest of such postponed dates at which the Reference Portfolio Return is determined; in each case where the Maturity Payment Date is so postponed, there will be no interest or other compensation made in respect of any such delay.

  • Term Loan B Maturity Date means the earliest of (a) May 24, 2014, or (b) such earlier date upon which the Outstanding Amounts under the Term Loan Facility, including all accrued and unpaid interest, are required to be paid in full in accordance with the terms hereof.

  • Term A Loan Maturity Date means July 18, 2024 or, if such date is not a Business Day, the immediately preceding Business Day.

  • Legal Maturity Date means July 15, 2024.

  • Tranche B Maturity Date means May 8, 2009, or, if such day is not a Business Day, the next preceding Business Day.

  • Swingline Maturity Date means, with respect to any Swingline Loan, the date that is five Business Days prior to the Revolving Credit Maturity Date.

  • Revolving Loan Maturity Date means the earliest to occur of (i) the Maturity Date and (ii) the date on which the Revolving Loans become due and payable in accordance with Section 10.02.

  • Revolving Maturity Date means April 22, 2024 (or, with respect to any Revolving Lender that has extended its Revolving Commitment pursuant to a Permitted Amendment, the extended maturity date, set forth in any such Loan Modification Agreement).

  • Term B Maturity Date means January 31, 2025.

  • Term B Loan Maturity Date means December 7, 2023.

  • Final Maturity has the meaning specified in Section 308.

  • Early Maturity Date means the date notified to the Investor as such in the Early Maturity Notice;

  • Maximum Maturity means an obligation that has a remaining maturity of not greater than the period specified in the Standard (or if no such period is specified, thirty years);

  • Final Maturity Date means the date that (i) is one hundred eighty (180) days following the Scheduled Termination Date or (ii) such earlier date on which the Loans become due and payable pursuant to Section 9.01.

  • Tranche A Term Loan Maturity Date means October 20, 2015.