Policy Premium definition

Policy Premium. The premium set forth in the Certificate Guaranty Insurance Policy.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Policy Premium has the meaning given to such term in the Policy Fee Letter.

Policy Premium means all rider fees, mortality and expense fees, and other amounts charged to or deducted from a contractholder’s account in respect of a Reinsured Policy and all revenue sharing payments and other amounts received from funds by the Ceding Company in respect of a Reinsured Policy.

Examples of Policy Premium in a sentence

• Each Party shall pay a portion of the annual Policy Premium as agreed to in writing no less often than annually by all Parties and attached hereto as Exhibit A.

• Upon non-renewal or cancellation of this Policy for any reason except the non-payment of premium, the Named Insured will have the right to purchase, for additional premium in the amount of the Optional Extension Premium percentage listed in the Declarations of the full Policy Premium listed in the Declarations, an Optional Extension Period for the period of time listed in the Declarations.

• Alternatively, the Company shall pay or reimburse the First Policy Premium Payments to the Employee or the Trustee of an irrevocable life insurance trust established for such purpose.

• Alternatively, the Company shall pay or reimburse the Second Policy Premium Payments to the Employee or the Trustee of an irrevocable life insurance trust established for such purpose.

• During and subsequent to the term of this Agreement the Company shall pay all premiums on the First Policy which are required to keep the First Policy in full force and effect until the premiums on the First Policy are fully paid and no additional premium is due or until the death benefit of the First Policy is paid and received by the beneficiary or beneficiaries of the First Policy (hereinafter “First Policy Premium Payments”).

More Definitions of Policy Premium

Policy Premium means the lump-sum policy premium and all underwriting fees and broker’s commissions payable pursuant to or in connection with obtaining the R&W Insurance Policies.

Policy Premium means the original premium and the fully annualized amount of any additional premiums, other than the Extended Reporting Period premium, charged by the Insurer before or during the Policy Period. Policy Year means the period of one year following the effective date of the Policy Period or any subsequent one-year anniversary thereof. As permitted by individual state law, a Policy Year may be extended or reduced by endorsement or by termination of the Policy. Pollutants means any substance exhibiting hazardous characteristics as is or may be defined or identified on any list of hazardous substances issued by the United States Environmental Protection Agency or any state, local or foreign counterpart. Pollutants includes, without limitation, any solid, liquid, gaseous or thermal irritant or contaminant, including smoke, vapor, soot, fumes, acids, alkalis, chemicals or waste (including materials to be recycled, reconditioned or reclaimed), as well as any air emission, odor, waste water, oil or oil products, infectious or medical waste, asbestos, or asbestos products or any noise. Privacy Event means an act, error or omission by the Insured Entity, by an Insured Person within the scope of such individual’s duties on behalf of the Insured Entity or by someone who the Insured has engaged to provide services pursuant to a written contract and for whom the Insured Entity is legally responsible which, in the reasonable opinion of an Executive, caused, or is reasonably likely to cause, the unauthorized disclosure of Nonpublic Personal Information or Nonpublic Corporate Information. Privacy Event Expenses means all reasonable and necessary fees, costs and expenses incurred by the Insured Entity to directly respond to a Privacy Event.

Policy Premium. For any Distribution Date is the fee payable to the Certificate Insurer in respect of its services as Certificate Insurer that accrues at the Policy Premium Rate on a balance equal to the aggregate Class Certificate Balance of the Class 1-A-3B and Class 2-A-3B Certificates immediately prior to such Distribution Date. The Policy Premium shall be computed on the basis of the actual number of days elapsed over a year of 360 days.

Policy Premium shall have the meaning set forth in Section 7.15.

Policy Premium means the original premium and the fully annualized amount of any additional premiums, other than the Extended Reporting Period premium, charged by the Insurer before or during the Policy Period. Policy Year means the period of one year following the effective date of the Policy Period or any subsequent one- year anniversary thereof. As permitted by individual state law, a Policy Year may be extended or reduced by endorsement or by termination of the Policy. Pollutants means any substance exhibiting hazardous characteristics as is or may be defined or identified on any list of hazardous substances issued by the United States Environmental Protection Agency or any state, local or foreign counterpart. Pollutants includes, without limitation, any solid, liquid, gaseous or thermal irritant or contaminant, including smoke, vapor, soot, fumes, acids, alkalis, chemicals or waste (including materials to be recycled, reconditioned or reclaimed), as well as any air emission, odor, waste water, oil or oil products, infectious or medical waste, asbestos, or asbestos products or any noise.

Policy Premium means the original premium and the fully annualized amount of any additional premiums, other than the Extended Reporting Period premium, charged by the Insurer before or during the Policy Period.

Policy Premium means the premium payable in accordance with Section 3.02 of the Insurance Agreement.