Permanent life insurance policy definition

Permanent life insurance policy means an agreement that contains a cash value or investment element and that obligates the insurer to indemnify or to confer a benefit upon the insured or beneficiary to the agreement contin- gent upon the death of the insured.
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Permanent life insurance policy means an agreement that contains a cash value or investment element and that obligates the insurer to indemnify or to confer a benefit upon the insured or beneficiary to the agreement contin- gent upon the death of the insured.Subpart B—Programs§ 1025.200 General.Insurance companies are subject to the program requirements set forth and cross referenced in this subpart. Insurance companies should also refer to subpart B of part 1010 of this chapter for program requirements contained in that subpart which apply to insurance companies.§ 1025.210 Anti-money laundering pro- grams for insurance companies.(a) In general. Not later than May 2, 2006, each insurance company shall de- velop and implement a written anti- money laundering program applicable to its covered products that is reason- ably designed to prevent the insurance company from being used to facilitate money laundering or the financing of terrorist activities. The program must be approved by senior management. An insurance company shall make a copy of its anti-money laundering program available to the Department of the Treasury, the Financial Crimes En- forcement Network, or their designee upon request.(b) Minimum requirements. At a min-imum, the program required by para- graph (a) of this section shall:
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Permanent life insurance policy means an agreement that contains a cash value or investment element and that obligates the insurer to indemnify or to confer a benefit upon the insured or beneficiary to the agreement contingent upon the death of the insured. “Annuity contract” means any agreement between the insurer and the contract owner whereby the insurer promises to pay out a fixed or variable income stream for a period of time.
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Examples of Permanent life insurance policy in a sentence

  • Four ways insurance can be a useful tool to preserve one’s legacy.to manage and download risks to someone else, i.e. an insurance company.Consider two scenarios; #1 – RRIF Insurance• Use a Permanent life insurance policy (single or joint lives) to fund tax liabilities upon the death of the insured.

  • Permanent life insurance policy with sufficient cash value can also be a source of cash.


More Definitions of Permanent life insurance policy

Permanent life insurance policy means an agreement that contains a cash value or investment element and that obligates the insurer to indemnify
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Related to Permanent life insurance policy

  • Life Insurance Policy has the meaning given in Section 6.11.

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

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

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

  • Credit life insurance means insurance on the life of a debtor in connection with

  • R&W Insurance Policy has the meaning set forth in Section 6.15.

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

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

  • 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;

  • Certificate Insurance Policy The Financial Guaranty Insurance Policy No. CA01172A, and all endorsements thereto dated the Closing Date, issued by the Certificate Insurer for the benefit of the Class AF-3 Certificateholders.

  • 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.

  • Insurance Policies has the meaning set forth in Section 3.16.

  • Reimbursement insurance policy means a policy of insurance

  • Title Insurance Policy A title insurance policy maintained with respect to a Mortgage Loan.

  • Blanket insurance policy means a group policy covering a defined class of

  • Company Insurance Policies has the meaning set forth in Section 4.15.

  • Health insurance policy means a policy that provides specified benefits for hospital and/or general treatment and meets all requirements under section 63-10 of the Private Health Insurance Act 2007.

  • D&O Liability Insurance Policies means all insurance policies (including any “tail policy”) of any of the Debtors for liability of any current or former directors, managers, officers, and members.

  • Title Insurance Policies means, with respect to each Individual Property, an ALTA mortgagee title insurance policy in a form acceptable to Lender (or, if an Individual Property is in a State which does not permit the issuance of such ALTA policy, such form as shall be permitted in such State and acceptable to Lender) issued with respect to such Individual Property and insuring the lien of the Mortgage encumbering such Individual Property.

  • Accidental death and dismemberment insurance or "AD&D" means basic accidental death and dismemberment (AD&D) insurance paid for by the employing agency, as well as supplemental accidental death and dismemberment insurance offered to and paid for by employees for them- selves and their dependents.

  • Bond Insurance Policy means the municipal bond insurance policy, if any, issued by the Bond Insurer that guarantees payment of principal of and interest on the Bonds and constitutes a Bond Facility under the Indenture.

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

  • Special Primary Insurance Policy Any Primary Insurance Policy covering a Mortgage Loan the premium of which is payable by the Trustee pursuant to Section 4.04(a), if so identified in the Mortgage Loan Schedule. There are no Special Primary Insurance Policies with respect to any of the Mortgage Loans.

  • Insurance Amount has the meaning set forth in Section 6.12(b).

  • Group long-term care insurance means a long-term care insurance policy which is delivered or issued for delivery in this State and issued to:

  • Insurance Proceeds Account has the meaning given to such term in the Accounts Agreement.