New Policy definition
New Policy means a policy entered into on or after the date on which the relevant rule takes effect;
New Policy means the policy insuring the life of the successor insured.
New Policy. The new policy may be a Flexible Premium Adjustable Life Insurance Policy offered by us on the Policy Date. The new policy will have a death benefit on the exchange date not more than the death benefit of this policy immediately prior to the exchange date. The new policy will have the same Policy Date and Issue Age as this policy. The initial Specified Amount and any increase in Specified Amount will have the same rate class as the one in this policy. Any Indebtedness may be transferred to the new policy. EXCHANGE AT OTHER TIMES: After 24 months from the Policy Date, you may exchange this policy for a new policy, subject to our approval. You must furnish any evidence of insurability we require and pay all costs associated with the exchange. VALUATION OF ASSETS IN A VARIABLE ACCOUNT DETERMINING INVESTMENT RESULTS: The Cash Value will change with a change in the investment results of the Subaccounts. An index called an accumulation unit value measures changes in a Subaccount's investment experience. Each Subaccount has its own accumulation unit value. For each Subaccount, the accumulation unit value was initially set at $10.00. The accumulation unit value for a Subaccount in each subsequent Valuation Period is equal to (1), multiplied by (2), where:
Examples of New Policy in a sentence
If the New Policy is issued with an increase in the Initial Death Benefit, then the provisions of Article 6.2.a will apply to the increased amount.
If the agreement including the new rates requires policy fees, then they will also apply to the New Policy.
If the New Plan is reinsured by the Reinsurer, either under this Agreement or under a different agreement, reinsurance premium rates for the resulting New Policy will be those contained in the agreement that covers the New Plan.
New Policy - The policy issued resulting from a conversion, exchange or replacement of the Original Policy.
After the Marketing Termination Date, except as provided above in this Section 3.7 or in Section 3.6, Ceding Company will not be obligated to renew any Existing Policy or New Policy or to issue any New Policy, and Reinsurer may not do so on Ceding Company’s behalf.
More Definitions of New Policy
New Policy. ’ means a contract entered into by an assurance com- pany which is a policy of assurance on the life of any person issued on or after 1 January 2001;
New Policy means each policy issued under this rider insuring the life of one of the insureds.
New Policy means a Policy issued under the Conversion Privilege of this rider.
New Policy. The new policy may be any permanent fixed benefit plan of life insurance that is currently offered by us on the Policy Date. After the exchange date, the new policy will not be affected by the investment experience of any separate investment account. The new policy will have a death benefit on the exchange date not more than the death benefit of this Policy immediately prior to the exchange date. The new policy will have the same Policy Date and Issue Age as this Policy. The initial Specified Amount and any increase in Specified Amount will have the same rate class as the one in this Policy. Any Indebtedness may be transferred to the new policy. EXCHANGE AT OTHER TIMES: After 24 months from the Policy Date, you may exchange this Policy for a new policy, subject to our approval. You must furnish any evidence of insurability we require and pay all costs associated with the exchange. VALUATION OF ASSETS IN A VARIABLE ACCOUNT DETERMINING INVESTMENT RESULTS: The Cash Value will change with a change in the investment results of the Subaccounts. An index called an accumulation unit value measures changes in a Subaccount's investment experience. Each Subaccount has its own accumulation unit value. For each Subaccount, the accumulation unit value was initially set at $10.00. The accumulation unit value for a Subaccount in each subsequent Valuation Period is equal to (1), multiplied by (2), where:
New Policy. The policy issued resulting from an exchange or replacement of the Original Policy.
New Policy means an insurance policy issued by Prudential which is funded, in whole or in part, by an Existing Policy.
New Policy. The new policy may be any permanent fixed benefit plan of life insurance that is currently offered by us on the Policy Date. After the exchange date, the new policy will not be affected by the investment experience of any separate investment account. The new policy will have a death benefit on the exchange date not more than the death benefit of this policy immediately prior to the exchange date. The new policy will have the same Policy Date and Issue Age as this policy. The initial Specified Amount and any increase in Specified Amount will have the same rate class as the one in this policy. Any Indebtedness may be transferred to the new policy. DETERMINING INVESTMENT RESULTS: The Cash Value will change with a change in the investment results of the Subaccounts. An index called an accumulation unit value measures changes in a Subaccount's investment experience. Each Subaccount has its own accumulation unit value. For each Subaccount, the accumulation unit value was initially set at $10.00. The accumulation unit value for a Subaccount in each subsequent Valuation Period is equal to (1), multiplied by (2), where: