Policy Loan Balance means, with respect to any date of determination, the amount of contract loans in respect of the Novated Contracts, as of such date, as would be reflected in Line 6, Column 1 of the “Assets” section of the Ceding Company’s statutory financial statement (or the equivalent exhibits or lines in the event of changes to the Ceding Company’s statutory financial statement subsequent to December 31, 2022).

Policy Loan Balance at any time will mean policy loans outstanding plus interest accrued to date.

Policy Loan Balance means, with respect to any date of determination, the amount of contract loans in respect of the LBL Contracts, as of such date, as would be reflected in line 6, column 3 in the “Assets” section of the NAIC statement blank used to prepare the Company’s statutory balance sheet as of December 31, 2012 or if the line number is changed pursuant to relevant guidance from the NAIC, the successor line number to such line number, net of any unearned policy loan interest on such loans but including any due and accrued interest thereon, determined in accordance with Nebraska SAP.

Examples of Policy Loan Balance in a sentence

The Policy Loan Balance at any time means Policy Loans outstanding plus interest accrued to date.
The amount you can borrow at any time is equal to the Loan Value less any Policy Loan Balance at that time.
Subject to any cost or credit and the repayment of any Policy Loan Balance; and .
The amount payable will be reduced by any Policy Loan Balance on the date of death.
After five (5) Policy years, a portion of the Policy Loan Balance may qualify for the preferred loan interest rate.

More Definitions of Policy Loan Balance

Policy Loan Balance means, with respect to any date of determination, the amount of contract loans in respect of the Covered Insurance Policies, as of such date, as would be reflected in line 6, column 3 in the “Assets” section of the NAIC statement blank used to prepare the Ceding Company’s balance sheet in its most recent Statutory Financial Statement or if the line number is changed pursuant to relevant guidance from the NAIC, the successor line number to such line number, net of any unearned policy loan interest on such loans but including any due and accrued interest thereon, determined in accordance with SAP.

Policy Loan Balance means, with respect to any date of determination, the amount of contract loans in respect of the Reinsured Contracts, as of such date, as would be reflected in Line 6, column 1 of the “Assets” section of the Ceding Company’s Statutory Financial Statement (or the equivalent exhibits or lines in the event of changes to the Ceding Company’s Statutory Financial Statement subsequent to December 31, 2019), net of any unearned policy loan interest on such loans but including any due and accrued interest thereon.

Policy Loan Balance means, with respect to any date of determination, amount of contract loans in respect of the Covered Insurance Policies, as of such date, as would be reflected in line 6, column 3 in the “Assets” section of the NAIC statement blank used to prepare the Ceding Company’s balance sheet in its most recent Statutory Financial Statement or if the line number is changed pursuant to relevant guidance from the NAIC, the successor line number to such line number, net of any unearned policy loan interest on such loans but including any due and accrued interest thereon, determined in accordance with SAP or Applicable Law of the Ceding Company Domiciliary State, excluding the portion of such amounts in respect of any Covered Insurance Policy that, under the terms of any Existing Reinsurance Agreement covering such Covered Insurance Policy, (i) the Ceding Company is required to retain unreinsured and for its own account a portion of the Liabilities in respect of such Covered Insurance Policy or (ii) in the opinion of either the Ceding Company or the Reinsurer requires consent from any party to such agreement in order to effect reinsurance under this Agreement and as to which a waiver of such requirement or other consent has not been obtained.

Policy Loan Balance means, with respect to any date of determination, the amount of contract loans in respect of the Reinsured Contracts, as of such date, as would be reflected in line 6, column 3 in the “Assets” section of the NAIC statement blank used to prepare the Ceding Company’s balance sheet in its most recent Statutory Financial Statement or if the line number is changed pursuant to relevant guidance from the NAIC, the successor line number to such line number, net of any unearned policy loan interest on such loans but including any due and accrued interest thereon, determined in accordance with SAP and Applicable Law of the Ceding Company Domiciliary State.

Policy Loan Balance means, with respect to any date of determination, the Quota Share of the principal amount of contract loans in respect of the Reinsured Policies, net of any unearned policy loan interest on such loans but including any due and accrued interest thereon, determined in accordance with Ceding Company SAP as of such date.