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
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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.
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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.

  • Planned Premium Amount (modal): $ b) Excess Premium Amount: $ c) Definition of Life Insurance Test: Guideline Premium Test Cash Value Accumulation Testd) Death Benefit Option: Option A (Specified Face Amount)Option B (Specified Face Amount PLUS the accumulation fund or cash value)Option C (Variable Life only - Option B to age 65, Option A thereafter)e) Guarantee to (for Variable Life only): Age 65 Age 75 Age 85 5 yearsII.

  • 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.

  • Ms Harris told her that when she realised the child was asleep she should have telephoned her so that she could be sent to another family.

  • 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.

  • 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.

  • Definition of Life Insurance Test (Applies to IUL & UL only except Foundation.) GPT CVAT (Illustration needed.)5.

  • CHANGING THE CORRIDOR Although the Definition of Life Insurance Test for the Policy cannot be changed, you can change your choice of the Corridor within each Test.

  • 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.

Related to of Life Insurance Test

  • Life insurance producer means any person licensed in this state as a resident or nonresident insurance producer who has received qualification or authority for life insurance coverage or a life line of coverage pursuant to chapter 522B.

  • Life insurance means contracts that incorporate mortality risk, including annuity and pure endowment contracts, and as may be specified in the valuation manual.

  • policy of life insurance means any instrument by which the payment of money is assured on death (except death by accident only) or the happening of any contingency dependent on human life, or any instrument evidencing a contract which is subject to payment of premiums for a term dependent on human life;

  • 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 6.11.

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

  • Lot coverage means the portion or percentage of the area of a lot upon which buildings are erected.

  • 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.

  • Individual health insurance coverage means health insurance coverage offered to individuals in the

  • 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

  • Single Phase Aerosol Air Freshener means an aerosol air freshener with the liquid contents in a single homogeneous phase and which does not require that the product container be shaken before use.

  • Participating Durable Medical Equipment Provider means a Durable Medical Equipment Provider who has a written agreement with the Claim Administrator or another Blue Cross and/or Blue Shield Plan to provide services to you at the time services are rendered.

  • Basic Comprehensive User Guide means the Ministry document titled Basic Comprehensive Certificates of Approval (Air) User Guide” dated April 2004 as amended.

  • 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:

  • Basic health plan model plan means a health plan as required in RCW 70.47.060(2)(e).

  • Medical Specialist means any medical practitioner who is vocationally registered by the Medical Council under the Health Practitioners Competence Assurance Act 2003 in one of the approved branches of medicine and who is employed in either that branch of medicine or in a similar capacity with minimal oversight.

  • 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.

  • LOCKHEED MARTIN Procurement Representative means a person authorized by LOCKHEED MARTIN's cognizant procurement organization to administer and/or execute this Contract.