Policy Charge definition

Policy Charge has the meaning given in Clause 5.1;
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Policy Charge any charges in addition to the Policy Premium that are payable by the Policyholder.
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Policy Charge. The calculated premium shall be increased by a policy charge of $.20 for each $1,000 of insurance in force at the start of the then current policy year. This applies for each policy month in the premium paying period. The policy charge shall not exceed $8.00 for any month. GR-29 1170 ED. 7-73 Page 9110 F205432
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Examples of Policy Charge in a sentence

  • The Policy Charge will be calculated using the Premium rates in effect at that time.

  • The Policy Charge will be calculated based on the number of Subscribers in each Coverage Classification that we show in our records at the time of calculation.

  • We may make retroactive adjustments for any additions or terminations of Subscribers or changes in Coverage Classification that are not reflected in our records at the time we calculate the Policy Charge.

  • A service charge will be assessed for any non-sufficient-fund check received in payment of the Policy Charge.

  • A grace period of 31 days will be granted for the payment of any Policy Charge not paid when due.

  • The first Policy Charge is due and payable on or before the effective date of this Policy.

  • The minimum premium that must be paid is three times the Monthly Policy Charge due when the insufficiency occurred.

  • The Policy Charge is payable to us in advance by the Group on a monthly basis.

  • If we receive written notice from the Group to end this Policy during the grace period, we will adjust the Policy Charge so that it applies only to the number of days this Policy was in force during the grace period.This Policy ends as described in Article 5.1 if the grace period expires and the past due Policy Charge remains unpaid.

  • A Cost of Insurance Charge is deducted from the Policy Value on each monthly processing date as part of the Monthly Policy Charge.


More Definitions of Policy Charge

Policy Charge means an expense charge that will be deducted from the Policy Value each month.
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Policy Charge. The premium calculated as above shall be increased by a policy charge of $.20 for each $1,000 of insurance in force hereunder at the beginning of the then current policy year for each policy month which occurs during the premium paying period, provided that the policy charge shall not exceed $8.00 in respect of any month. During the first policy year, the policy charge shall be waived and the total premium is subject to a reduction of 35%. Advance Expense Adjustment For the first policy year the total premium, including the policy charge, shall be reduced by the applicable advance expense adjustment indicated below (for annual, semi-annual or quarterly premiums, divide the total premium, including the policy charge by 12, 6, or 8, respectively, before entering this table): Total Monthly Advance Expense Total Monthly Advance Expense Premium Before Adjustment Premium Before Adjustment Advance Expense Advance Expense Adjustment Adjustment Under $125 0% $ 700- 899 26% $125-149 10 900- 1,399 27 150-174 11 1,400- 2,499 28 175-199 13 2,500- 3,999 29 200-224 14 4,000- 7,499 30 225-249 16 7,500-11,999 31 250-299 17 12,000-26,999 32 300-349 19 27,000-59,999 33 350-399 20 60,000-79,999 34 400-449 21 80,000 and over 35 450-499 22 500-549 23 550-599 24 600-699 25
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Related to Policy Charge

  • Monthly Charge shall have the meaning set forth in Article 5.

  • Penalty Charge means a penalty charge which is payable by virtue of paragraph 3(1) and (2) of Schedule 3 to this Act;

  • Energy Charge means a charge for each kilowatt-hour (kWh) of electrical energy;

  • Facility Charge means one percent (1%) of the Maximum Term Loan Amount.

  • No Charge Bid When Bids are requested on a number of Products as a Group or Lot, a Bidder desiring to Bid “no charge” on a Product in the Group or Lot must clearly indicate such. Otherwise, such Bid may be considered incomplete and be rejected, in whole or in part, at the discretion of the Commissioner.

  • Service Charge means the amount charged for making a service available on line and is in addition to the actual fee for a service itself. For example, one who renews a license on line will pay the license renewal fee and a service charge.

  • Management Charge means the sum paid by the Supplier to the Authority being an amount of half (0.5) percent of all Charges for the Services invoiced to the Contracting Bodies (net of VAT) in each Month throughout the Term and thereafter until the expiry or earlier termination of any Call-Off Contract;

  • Premium surcharge means a payment required from a subscriber, in addition to the subscriber's medical premium contribution, due to an enrollee's tobacco use or an enrolled subscriber's spouse or state registered domestic partner choosing not to enroll in their employer- based group medical when:

  • Capacity Charge means a charge for public facilities in existence at the time a charge is imposed or charges for new public facilities to be acquired or constructed in the future that are of proportional benefit to the person or property being charged, including supply or capacity contracts for rights or entitlements, real property interests, and entitlements and other rights of the local agency involving capital expense relating to its use of existing or new public facilities. A “capacity charge” does not include a commodity charge.

  • Room charge means the charge imposed for the use or occupancy of a room, excluding charges for food, beverages, state use tax, telephone service, or like services paid in connection with the charge, and excluding reimbursement of the assessment imposed by this act.

  • Usual and Customary Charge means the average amount charged by most providers for treatment, service or supplies in the geographic area where the treatment, service or supply is provided.

  • Monthly Charges means a finance carrying charge of one and one-half of one percent (1.5%) and a storage and handling charge of one-half of one percent (0.5%), in each case of the Cost of the Inventory and/or Special Inventory and/or of the fees for the Product affected by the reschedule or cancellation (as applicable) per month until such Inventory and/or Special Inventory and/or Product is returned to the vendor, used to manufacture Product or is otherwise purchased by Customer.

  • Penalty Charges means any amounts collected from the Borrower that represent default charges, penalty charges, late fees and/or default interest, but excluding any yield maintenance charge or prepayment premium.

  • Utility Charges means water, sewer, electricity, gas and other utility charges, if any, applicable to the Real Property or the Leased Real Property;

  • Contract Charges means charges that accrue during a given month as defined in Article III. “Contract Term” is defined in Article IV.

  • User charge means a charge imposed on airlines for the provision of airport, air navigation, or aviation security facilities or services including related services and facilities.

  • Account Charge means, in relation to each of the Charged Accounts, the first priority fixed charge or pledge over all such accounts given or to be given by the relevant account holder thereof in favor of and in form and substance satisfactory to the Security Trustee.

  • Electricity Charges means service charges in respect of the provision of electricity.

  • Hire Charge or “Hire Charges” means the rates and charges payable by You for the hire of the Equipment.

  • Transition bond charge means a charge, expressed as an

  • Transition charge means a nonbypassable rate or charge to be imposed on a customer to pay the customer's share of transition costs.

  • Adviser Charge : means the fee agreed with your financial adviser in remuneration for the personal recommendation received prior to submission of an Application Form.

  • Premium tax means a tax paid by insurance companies to provincial and territorial governments calculated as a percentage of gross premiums written.

  • Bond Service Charges means principal, including mandatory sinking fund requirements for retirement of obligations, and interest, and redemption premium, if any, required to be paid by the authority on obligations.

  • Usual and Customary Charges means those comparable charges for similar treatment, services and supplies in the geographic area where treatment is performed.

  • Delivery Charge means the total amount charged to the Authorized User for shipment of the Vehicle(s) from the Delivery Origin to the location(s) designated by the Authorized User on Form A: Mini-Bid Request, and on the Purchase Order.