of Life Insurance Test definition

of Life Insurance Test. Guideline Premium/Cash Value Corridor Test The minimum premium (Section 4.4) is $25.00. The maximum premium under the Guideline Premium/Cash Value Corridor Test: Guideline Single Premium = $ 176,024.00 Guideline Annual Level Premium = $ 14,408.00 The minimum withdrawal amount (Section 9.5) is $250.00. This policy is issued in a select (nonsmoker) rate class. DIRECT BENEFICIARY XYZ Corporation OWNER XYZ Corporation INSURED John X. Xxx AGE AND SEX 35 Male POLICY DATE July 31, 2001 POLICY NUMBER 10 000 000 PLAN Flexible Premium SPECIFIED AMOUNT $1,000,000.00 Variable Life SCHEDULE OF MAXIMUM CHARGES The Premium Expense Charge (Section 4.2) is the sum of the following:
Sample 1
of Life Insurance Test. Guideline Premium/Cash Value Corridor Test The minimum premium (Section 4.4) is $25.00. The maximum premium under the Guideline Premium/Cash Value Corridor Test: Guideline Single Premium = $ 169,461.00 Guideline Annual Level Premium = $ 13,992.00 The minimum withdrawal amount (Section 9.5) is $250.00. This policy is issued in a select premium class.
Sample 1

Examples of of Life Insurance Test in a sentence

  • If the Definition of Life Insurance Test shown on the Policy Schedule Pages (page 3) is the Guideline Premium/Cash Value Corridor Test, the federal tax law limits the amount of premiums you can pay.

  • If the Definition of Life Insurance Test shown on page 3 is the Guideline Premium/Cash Value Corridor Test, then the Company will not accept any premium that disqualifies this policy as a life insurance contract for federal tax purposes.

  • The death benefit required by the Cash Value Accumulation Test or the Guideline Premium Test, depending on the Definition of Life Insurance Test chosen at the time of Application for the Policy.

  • The death benefit required by the Definition of Life Insurance Test and Corridor chosen for the Policy.

  • If the Policy (a) is eligible for but does not meet the Benchmark Cash Value Test at the end of the Death Benefit Guarantee Period shown on page 3, and (b) has the Cash Value Accumulation Definition of Life Insurance Test, the Owner will be offered a one-time opportunity to extend the Death Benefit Guarantee Period to Lifetime (unless already Lifetime), provided that the Death Benefit Guarantee has not previously terminated.

  • The death benefit required by the Cash Value Accumulation Test or the Guideline Premium Test, depending on the Definition of Life Insurance Test chosen for the Policy.

  • The death benefit required by the Guideline Premium Test or the Cash Value Accumulation Test, depending on the Definition of Life Insurance Test chosen at the time of Application for the Policy.

  • NEV-14-E If you have selected the Guideline Premium Test for the Policy (see Section 8, Definition of Life Insurance Test), premiums on this Policy are limited to an amount no greater than that allowing the Policy to continue to qualify.

  • Definition of Life Insurance Test: Guideline Premium Test Cash Value Accumulation Test (If unanswered, the Guideline Premium Test will be applied).

  • Definition of Life Insurance Test: (chose one) [_] Cash Value Accumulation [_] Guideline Premium 4.

Related to of Life Insurance Test

  • Life insurance means insurance coverage on human lives including benefits of endowment and annuities, and may include benefits in the event of death or dismemberment by accident and benefits for disability income and unless otherwise specifically excluded, includes individually issued annuities.

  • life insurance business means the business of providing or undertaking to provide policy benefits under life policies;

  • Life Insurance Policy has the meaning given in Section 6.10.

  • Life Insured means the person named in the Schedule, on whose life the Policy is effected;

  • Health-care-insurance receivable means an interest in or claim under a policy of insurance which is a right to payment of a monetary obligation for health-care goods or services provided.

  • Mortgage Impairment Insurance Policy A mortgage impairment or blanket hazard insurance policy as described in Section 4.11.

  • Site Coverage means ratio expressed in percentage between the area covered by the ground floor of building and the area of the site;

  • Durable medical equipment means equipment which:

  • Medical equipment means equipment used in a patient care environment to support patient treatment and diagnosis.

  • Health insurance coverage means benefits consisting of medical care (provided directly, through

  • Insurance Affordability Program means a program that is one of the following:

  • Group health insurance coverage means in connection with a group health plan, health insurance

  • life policy means a contract in terms of which a person, in return for a premium, undertakes to -

  • Insurance Company The Transferee is an insurance company whose primary and predominant business activity is the writing of insurance or the reinsuring of risks underwritten by insurance companies and which is subject to supervision by the insurance commissioner or a similar official or agency of a state, U.S. territory or the District of Columbia.

  • Insurance Coverage Contractor shall, at Contractor’s sole expense, procure, maintain and keep in force for the duration of this Contract the following insurance conforming to the minimum requirements specified below. Unless specified herein or otherwise agreed to by the City, the required insurance shall be in effect prior to the commencement of work by Contractor and shall continue in force as appropriate until the latter of:

  • Long-term care insurance means group insurance that is authorized by the retirement system for retirants, retirement allowance beneficiaries, and health insurance dependents, as that term is defined in section 91, to cover the costs of services provided to retirants, retirement allowance beneficiaries, and health insurance dependents, from nursing homes, assisted living facilities, home health care providers, adult day care providers, and other similar service providers.

  • Fidelity Insurance means insurance coverage with respect to employee errors, omissions, dishonesty, forgery, theft, disappearance and destruction, robbery and safe burglary, property (other than money and securities) and computer fraud in an aggregate amount acceptable to Seller’s regulators.