Policy Credit definition

Policy Credit has the meaning set forth in Section 8.2.
Sample 1Sample 2Sample 3
Policy Credit means consideration to be paid in the form of an adjustment to policy values in any of the following specific forms, depending upon the policy: an increase in accumulation value under a policy that is a deferred annuity or individual universal life policy; an increase in the amount of the payments distributed under a policy that is in the course of annuity payments or that is a supplemental contract; an increase in the dividend deposits or additions under a policy that is an individual participating life insurance policy; an increase in the premium deposit fund under a life insurance policy that has no dividend option or that has a blended dividend option; or an extension of the expiry date on a policy that is in force as extended term life insurance pursuant to a non-forfeiture provisions of a life insurance policy.
Sample 1Sample 2
Policy Credit. ’ means (i) for an individual or joint participating whole life insurance policy, the crediting of paid-up additions which will increase the cash value and death benefit of the policy, and (ii) for all other individual or joint life policies and annuities,
Sample 1

Examples of Policy Credit in a sentence

  • If all signatories agree to CRD’s request, an amendment shall be executed which extends the effective date of the PA to ten years from the date of signing.

  • Policy Credit The Policy Credit will no longer be credited to the Policy Value.

  • Policies and processes All credit risk related aspects are governed by Credit and Recovery Policy (Credit Policy).

  • Qualitative Disclosure:Credit Risk Management Policy Credit risk is the risk of loss from obligor or counterparty default.

  • The bank has Risk Management Policy, Credit policy Guidelines and standardized form for analyzing the risk and credit worthiness.

  • Internal research and ratings issued by credit rating agencies will be used as the guide to credit quality.Additional disclosure pursuant to SEBI circular dated August 1, 2011: a) Credit Evaluation Policy: Credit Evaluation Policy for investment in debt securities evaluates various factors which determine the repayment ability of the borrower/issuer.

  • The Board Policies include Risk Management Policy, Credit (Lending) Policy, Credit Risk Management Policy, Market Risk Management Policy, Operational Risk Management Policy, Fraud Risk Management Policy, ICAAP Policy, ALM Policy, Investment Policy, Forex & Derivative Policy and Portfolio Acquisition Policy.

  • The Policy Credit Commencement Year, Policy Credit Duration, and Policy Credit Rate are each shown in Section 1.

  • On each Processing Date beginning in the Policy Credit Commencement Year and continuing for the Policy Credit Duration, we will apply a Policy Credit to the Fixed Account, Investment Accounts, and Indexed Accounts in the same manner as we take monthly deductions from these accounts.

  • The Policy Credit is equal to the Policy Credit Rate times the minimum of the Policy Value or the Policy Credit Limit.


More Definitions of Policy Credit

Policy Credit means an increase in accumulation account value (to which no surrender or similar charges will be applied) or an increase in a dividend accumulation on a Policy. "Public Cash Election Amount" has the meaning specified in Section 6.3(a)(v). "Public Eligible Members" shall mean any government authority, agency, department, board, commission or instrumentality of the United States, any State or any political subdivision thereof that is an Eligible Member. "Public Hearing" has the meaning specified in Section 2.2. "Record Date" shall mean December 17, 1997. "State" means the District of Columbia and any state, territory or insular possession of the United States of America.
Sample 1
Policy Credit means consideration to be paid in the form of an increase in cash value, account value, dividend accumulations, face amount, extended term period or benefit payment, as appropriate, depending on the Policy. If the Policy is owned by a Qualified Plan Customer, the Policy Credit will take the form of a Separate Account Policy Credit or an Account Value Policy Credit. If the Policy is owned by a Non-Rule 180 Qualified Plan Customer, the Policy Credit will take the form of an Account Value Policy Credit.
Sample 1
Policy Credit means consideration to be paid in the form of an adjustment of policy values for certain Policies under this Plan. Policy Credits will be in any of the following specific forms, depending on the Policy:
Sample 1
Policy Credit means (a) for an individual or joint participating whole life insurance Policy, the crediting of paid-up additions which will increase the cash value and death benefit of the Policy; (b) for supplementary contracts issued under optional modes of settlement or annuities in the course of installment payment without a defined account value and that provide for the payment of additional interest, the crediting of an additional amount in the form of additional interest; (c) for supplementary contracts issued under optional modes of settlement or annuities in the course of installment payment without a defined account value not providing for the payment of additional interest, an increase in the installment payment amount; and (d) for all other individual or joint life Policies and annuities, (i) if the Policy or contract has a defined account value, an increase in the account value, to which the Company will apply no sales, surrender or similar charges, or that will be further increased in value to offset any of these charges, or (ii) if the Policy or contract does not have a defined account value, the crediting of dividends under the Policy or contract.
Sample 1
Policy Credit means (i) for an individual or joint participating - whole life insurance Policy, the crediting of paid-up additions which will increase the cash value and death benefit of the Policy, and (ii) for all other -- individual or joint life Policies and annuities, (x) if the Policy or contract - has a defined account value, an increase in the account value, or, (y) if the - Policy or contract does not have a defined account value, the crediting of dividends left on deposit under the Policy or contract.
Sample 1
Policy Credit means consideration to be paid to certain Qualified Policyholders in the form of credits against future premium payments distributed as a dividend to be paid under a participating Policy.
Sample 1

Related to Policy Credit

  • Primary Credit Facility mean the credit facility described in the Line of Credit section of this Agreement.

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

  • Company Credit Facility means the Credit Agreement, dated as of March 24, 2016, as amended and restated as of December 14, 2017, as further amended and restated as of May 7, 2019, as further amended and restated as of September 11, 2019, and as further amended as of November 14, 2019, by and among Centene, the various financial institutions named therein, as lenders, and Wells Fargo Bank, National Association, as administrative agent, including any related notes, Guarantees, collateral documents, instruments and agreements executed in connection therewith, and in each case as amended, restated, modified, renewed, refunded, replaced or refinanced (in whole or in part) from time to time, whether or not with the same lenders or agent.

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Administrative Agent maintained at the office of the Administrative Agent at 200 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the “Delphi Letter of Credit Account” that shall be used solely for the purposes set forth herein.

  • Availability Credit means the remedy IBM will provide for a validated Claim. The Availability Credit will be applied in the form of a credit or discount against a future invoice of subscription charges for the Service.

  • Credit Account is modified to read “Grant Account”.

  • Commercial Letter of Credit means any letter of credit or similar instrument issued for the purpose of providing the primary payment mechanism in connection with the purchase of any materials, goods or services by Company or any of its Subsidiaries in the ordinary course of business of Company or such Subsidiary.

  • Trade Letter of Credit means any Letter of Credit that is issued under the Letter of Credit Facility for the benefit of a supplier of inventory to the Borrower or any of its Subsidiaries to effect payment for such Inventory.

  • Credit and Collection Policy means Seller’s credit and collection policies and practices relating to Contracts and Receivables existing on the date hereof and summarized in Exhibit VIII hereto, as modified from time to time in accordance with this Agreement.

  • Reimbursement insurance policy means a policy of insurance

  • Financial Letter of Credit means any Letter of Credit other than a Performance Letter of Credit.

  • Eligible Letter of Credit means, as of any date of determination thereof, a Letter of Credit which supports the purchase of Inventory, (i) which Inventory does not constitute Eligible In-Transit Inventory and for which no documents of title have then been issued, (ii) which Inventory, when completed, otherwise would constitute Eligible Inventory, (iii) which Letter of Credit has an expiry within thirty (30) days of the date of initial issuance of such Letter of Credit, and (iv) which Letter of Credit provides that it may be drawn only after the Inventory is completed and after documents of title have been issued for such Inventory reflecting the Borrower, a Subsidiary Guarantor or the Administrative Agent as consignee of such Inventory.

  • 9% Credits means Federal Credit allocated on a competitive basis under the provisions of this Plan.

  • Credit means the right granted by a creditor to a debtor to defer payment of debt or to incur debt and defer its payment.

  • Dollar Letter of Credit means a Letter of Credit denominated in Dollars.

  • Facility Letter of Credit means a Letter of Credit issued hereunder.

  • LOC means the entity awarded the Championships and entering into this Agreement, having executed the Attached Bid.

  • Company Credit Agreement means the Amended and Restated Credit Agreement, dated as of September 30, 2016, as amended from time to time, among the Company, the guarantors named therein, the lenders named therein, and Xxxxx Fargo Bank, National Association, as administrative agent and collateral agent, and all pledge, security, guaranty and other agreements and documents related thereto.

  • Letter of Credit Accommodations means, collectively, the letters of credit, merchandise purchase or other guaranties which are from time to time either (a) issued or opened by Agent or any Lender for the account of any Borrower or Obligor or (b) with respect to which Agent or Lenders have agreed to indemnify the issuer or guaranteed to the issuer the performance by any Borrower or Obligor of its obligations to such issuer; sometimes being referred to herein individually as "Letter of Credit Accommodation".

  • 4% Credits means Federal Credit available to Bond Financed Projects which meet the requirements of this Plan.

  • Fronted Letter of Credit means a standby Letter of Credit issued by an Issuing Lender having an L/C Fronting Commitment in which each Lender purchases a risk participation pursuant to Section 3.4.

  • Acceptable Letter of Credit means a standby letter of credit, issued by a bank or financial institution acceptable to Bank in its Permitted Discretion, in form and substance satisfactory to Bank in its Permitted Discretion, in an amount equal to 105% of the Letter of Credit Usage, naming Bank as beneficiary to reimburse payments of drafts drawn under outstanding Letters of Credit.

  • Revolving Letter of Credit means each letter of credit issued pursuant to Section 3.1(a)(i) (including DIP Revolving Letters of Credit deemed issued as Revolving Letters of Credit pursuant to Section 3.10).

  • Letter of Credit Reimbursement Agreement has the meaning specified in Section 2.4(e).

  • Credit and Collection Policies or “Credit and Collection Policy” means the policies, practices and procedures adopted by the Issuer on the Closing Date, including the policies and procedures for determining the creditworthiness of Obligors and the extension of credit to Obligors, or relating to the maintenance of those types of receivables and the related equipment and collections on those types of receivables and the related equipment.

  • Supporting Letter of Credit has the meaning specified in Section 2.3(g).