NET PREMIUM PAYMENT definition
NET PREMIUM PAYMENT. Your premium payment less any Premium Tax Charge deducted from the premium payment.
NET PREMIUM PAYMENT. The gross Premium Payment less state premium taxes, if applicable, and any charges or expenses.
NET PREMIUM PAYMENT is a premium payment after deduction of the Premium Expense Charge shown in the Policy Schedule. This is the amount that will be allocated to the Fixed Account and/or the Variable Sub-Account(s).
Examples of NET PREMIUM PAYMENT in a sentence
DURING THE FIRST CONTRACT YEAR, AN INVESTMENT CREDIT OF 3% OF EACH NET PREMIUM PAYMENT MADE WILL BE CREDITED TO THE CONTRACT.
ALLOCATIONS OF NET PREMIUM PAYMENT Premium payments that are requested to be allocated among the various Accounts under this policy must be allocated in amounts no smaller than one-tenth of a percent, provided that the total amount equals an aggregate of 100 percent.
More Definitions of NET PREMIUM PAYMENT
NET PREMIUM PAYMENT means the amount of a premium payment less the policy's Premium Charge. See the Premium Charge provision in Section 7. NOTICE TO US means your signed statement which is received at our Home Office and is in a form satisfactory to us.