Net Cash Value definition

Net Cash Value means the amount of money equal to the Surrender Value less Debts (if any).
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Net Cash Value means on any date on or before the Benefit Cessation Date, an amount equal to the Guaranteed Cash Value less any Indebtedness.
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Net Cash Value means the fair market value of the assets of each Seller's Qualified Decommissioning Fund reduced by twenty percent (20%) of the excess of the fair market value of such assets over their Tax Basis.
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Examples of Net Cash Value in a sentence

  • If the Net Cash Value on any Monthly Day is insufficient to pay the Monthly Deduction, and the No-Lapse Guarantee is not in effect, the policy will be in default and a Grace Period will begin.

  • This process of using Deferred Charges to pay the Monthly Deduction will continue every Monthly Day that: (1) there is insufficient Net Cash Value to pay the Monthly Deduction; and (2) the No-Lapse guarantee or Minimum Death Benefit guarantee are in effect; and (3) the Policy is not beyond the ninth Policy Year.

  • The Company will pay maturity proceeds equal to Net Cash Value as of the Maturity Date.

  • Where the Minimum Death Benefit guarantee is in effect and there is insufficient Net Cash Value to pay the Monthly Deduction, Deferred Charges will be used to pay the Monthly Deduction during those first nine Policy Years.

  • The Owner(s) may surrender the Policy at any time for its Net Cash Value.


More Definitions of Net Cash Value

Net Cash Value means the cash surrender value of the Policy reduced, as appropriate, by any indebtedness (and interest thereon) obtained by the Company and secured by the Policy which indebtedness remains outstanding as of the date of such determination.
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Net Cash Value means at any time, an amount equal to Guaranteed Cash Value plus Special Bonus, if any, less any Indebtedness.
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Net Cash Value. Cash surrender value less any debt.
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Net Cash Value. The Net Cash Value is the Cash Value less any outstanding loan and loan interest. ______________________________________________________________________________ Variable Account Provisions
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Net Cash Value means an amount equal to the Guaranteed Cash Value, less any Indebtedness.
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Net Cash Value subject to provision A15, means at any time, an amount equal to (i) the Guaranteed Cash Value, less (ii) any Indebtedness.
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Net Cash Value. The Net Cash Value is equal to: . The Cash Value of the Policy; LESS . Any Policy Loan Balance. -------------------------------------------------------------------------------- Surrender of the Policy
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