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

  • Plan: Flexible Premium Deferred Life Annuity: Preferred 5 Preferred 8 Preferred Choice Maturity Age: Life Life & Period Certain, Years: 5 10 15 20First Premium: $ Mode: Annual Semi Annual Quarterly Bank Drafta.

  • 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.

  • In this scenario two children with autism are involved in a turn-taking and imitation game.

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

  • 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.

  • Upon maturity of the Plan, i.e. upon the Child attaining the Maturity Age during the life time of the Investor, or upon reaching eighteen (18) years of age (after the demise of the Investor), the Child shall have the option to either redeem the Units or to switch over to other Plan or Funds offered by the Management Company as and how he or she may deem appropriate.

  • The specific mitigation commitments from the Cooperative Agreement are detailed under “Special Conditions for Location Approval.” Based on consideration of the mitigation and coordination with the City, FHWA has made a determination that the proposed project will have a de minimis impact on the property.No state-listed plant or animal species were found within the project area, but potential habitat was found for the eastern massasauga rattlesnake, Indiana bat, and bald eagle.

  • In the event of demise of the Child (or the Alternate Child, as the case may be) before attaining the Maturity Age, the Investor shall have the right to nominate an Alternate Child or a Second Alternate Child (in case an Alternate Child has already been nominated) for continuity of the Plan.

  • The Plan shall then mature upon the Alternate Child attaining the Maturity Age as may be notified by the Investor at the time of the transfer of the Plan in favor of the Alternate Child and the Units shall be automatically transferred to in the Register in the name of the Alternate Child.

  • Maximum Maturity Age: [75] years nearest birthday (in years)Age at entry for the policyholder is to be taken as age nearest birthday except for the minimum age at entry i.e. 8 years.

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 Date shall have the meaning assigned to such term in Exhibit A.

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

  • Term Loan Maturity Date means, (a) with respect to any Term Loans, the final maturity date as specified for such Term Loans in the applicable Term Loan Amendment and (b) with respect to any Extended Term Loans of a given Term Loan Extension Series, the final maturity date as specified in the applicable Extension Amendment.

  • Revolving Loan Maturity Date means June 15, 2011, unless extended by Lender pursuant to any modification, extension or renewal note executed by Borrowers and accepted by Lender in its sole and absolute discretion in substitution for the Revolving Note.

  • Final Maturity Date means March 31, 2022.

  • Scheduled Maturity Date means June 30, 2032.