Mortality Charge means a charge levied by Us on the Sum at Risk for providing life insurance cover to the Life Insured during the Policy Term on the basis of his attained Age during the Policy Term in accordance with the rates as specified in Part E;
Mortality Charge means cost of life insurance cover and is levied at the beginning of each policy month from the fund by canceling units for an equivalent amount.
Examples of Mortality Charge in a sentence
Any undercharged Mortality Charge, without interest, will be debited in Units at NAV.
We reserve the right to review our charging structure (except Premium Allocation and Mortality Charge) at any time, subject to prior approval by IRDAI.
The Mortality Charge rates for Single Life and Joint Life Coverage (i.e., MC1 and MC2) are provided in Appendix 2.
However, the Mortality Charge shall be deducted based on the Reduced Paid-up Sum Assured only.
The formula for the deduction of mortality charge is given below: Mortality Charge = Monthly mortality charge rate for the current age multiplied by the Sum-At-Risk.
More Definitions of Mortality Charge
Mortality Charge means the charge towards providing life insurance cover and is as shown in Section 3 of the Schedule.
Mortality Charge means the charge for providing the life insurance cover. The method of calculation of the Mortality Charge is as set out in Section 33) below.
Mortality Charge means cost of life insurance cover and is deducted from the premium when the premium is paid.
Mortality Charge means the charge levied for the purpose of offering life insurance cover and is as shown in Section 3 of the Schedule.
Mortality Charge means the cost of Life Insurance Cover and is levied at the beginning of each policy month starting from the second policy year from the fund by cancelling units for an equivalent amount.
Mortality Charge means a charge levied by Us on a sum at risk basis for providing life insurance cover to the Life Insured during the Policy Term. The Mortality Charge is deducted from the Fund Value at the beginning of each Policy Month on the basis of his/her Attained Age in accordance with the rates as specified in Part E of the Policy.