Policy Protection definition

Policy Protection. Rider: Protects the death benefit of the base policy and any primary insured term rider from lapse as long as the Policy Protection Account Value ("shadow account") is not negative. Enhanced No Lapse Guarantee Rider: Provides that the policy will not lapse as long as cumulative premiums paid less indebtedness and less withdrawals are greater than or equal to the cumulative no lapse guarantee premiums. Length of guarantee varies by issue age. Lifetime No Lapse Guarantee Rider: Same as Enhanced No Lapse Guarantee Rider but with lifetime guarantee. Guaranteed Minimum Accumulation Benefit (GMAB) Rider: Provides, at the end of the GMAB Guarantee Period (usually 20 years), that the policy Account Value will be increased, if necessary, to equal the sum of gross premiums paid to that date. There is a small monthly charge and a minimum cumulative premium requirement to keep the rider in force. Allocated Retention Pool -- Effective 10/01/2008 Between HL and TFLIC Amendment 3 -- Effective July 1, 2010 SCHEDULE A PLANS OF INSURANCE COVERED UNDER THIS AGREEMENT EFFECTIVE JULY 1, 2010 Paid-Up Life Insurance Rider: Similar to the GMAB rider, with the same Guarantee Period, a monthly charge, and a cumulative premium requirement. At end of the Guarantee Period, the owner may elect to change coverage to paid-up life using the Account Value as a 5% NSP to determine the amount of coverage; however, the amount of coverage will never be lower than the sum of gross premiums paid to that date. Once elected, premiums are no longer payable. Conversion Option Rider: During certain policy years and prior to the insured's attained age 70, the policy may be converted, without evidence of insurability, to any permanent plan of life insurance the Ceding Company then makes available for conversions of this policy. Overloan Protection Rider: Protects a policy from terminating due to overloan. Waiver of Specified Amount (WSA) Rider: Waives a specified amount monthly while the insured is disabled. Waiver of Monthly Deductions (WMD) Rider: Waives monthly deduction amounts while the insured is disabled. Children's Life Insurance Rider: Provides level term life coverage for each child of the insured. Foreign Travel Exclusion Rider: Provides a limited death benefit (Account Value less indebtedness) if the insured dies due to travel to, from, or within certain foreign countries, or due directly or indirectly to illness or injury sustained during such travel. Estate Tax Repeal Benefit Rider: Pays ...
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Examples of Policy Protection in a sentence

  • Protects the death benefit of the base policy and any Estate Protection Rider from lapse as long as the Policy Protection Account Value ("shadow account") is not negative.

  • Policy Protection Rider: Protects the death benefit of the base policy and any primary insured term rider from lapse as long as the Policy Protection Account Value ("shadow account") is not negative.

  • Upon a split, reinsurance will continue at point-in-scale rates for each single life, as documented in Section X.C. (This rider is not available when one of the insureds is uninsurable or above Table H.) Policy Protection Rider: Protects the death benefit of the base policy and any Estate Protection Rider from lapse as long as the Policy Protection Account Value ("shadow account") is not negative.

  • More detailed information on school district practice and policy regarding student records and data can be found in the school district’s Data Practices Policy (Protection and Privacy of Pupil Records Policy) and approved Records Retention Schedule.

  • RIDERS PROVIDING DEATH BENEFITS THAT RIDERS THAT PROVIDE ADDITIONAL ARE ELIGIBLE FOR REINSURANCE BENEFITS BUT THAT ARE NOT ELIGIBLE FOR REINSURANCE: Estate Protection Rider (NAR Type is LS Exchange Option Rider C) Policy Protection Rider Estate Tax Repeal Rider Foreign Travel Exclusion Rider Guar.

  • This policy will always remain in force, both during the Policy Protection Period and beyond, as long as the Cash Surrender Value is sufficient to provide for Monthly Deductions.

  • Such terms include, but may not be limited to: Monthly Activity Date, Monthly Deduction Amount, Account Value, and Policy Protection Account.

  • Policy Protection Rider (PPR) For COLA Rider, NAR Type follows Enhanced No Lapse Guarantee Rider Base Policy to which it is attached.

  • During the Policy Protection Period payment of total accumulated premiums, in excess of withdrawals and debt, at least equal to the sum of all unique Minimum Monthly Premiums in effect since the Date of Issue times the number of Monthly Policy Dates that have elapsed while each Minimum Monthly Premium was in effect, will keep the policy in force to the next Monthly Policy Date.

  • The present priority areas for bilateral Development Cooperation are: Energy, Environmental Policy, Protection and Sustainable use of Natural Resources, Sustainable Economic Development.

Related to Policy Protection

  • Cathodic protection means a technique designed to prevent the corrosion of a metal surface by making that surface the cathode of an electrochemical cell. For example, protection can be accomplished with an impressed current system or a galvanic anode system.

  • MFN Protection has the meaning set forth in Section 2.14(e)(iii).

  • Fire Protection means all aspects of fire safety including but not limited to fire prevention, firefighting or Fire Suppression, pre-fire planning, fire investigation, public education and information, training or other staff development;

  • Community protection zone means the area within eight

  • Data Protection Act means Act CXII of 2011 on Informational Self-Determination and Freedom of Information.

  • Data Protection means the implementation of appropriate administrative, technical or physical means to guard against unauthorized intentional or accidental disclosure, modification, or destruction of data.

  • Flood Insurance Regulations means (a) the National Flood Insurance Act of 1968 as now or hereafter in effect or any successor statute thereto, (b) the Flood Disaster Protection Act of 1973 as now or hereafter in effect or any successor statute thereto, (c) the National Flood Insurance Reform Act of 1994 (amending 42 USC § 4001, et seq.), as the same may be amended or recodified from time to time, and (d) the Flood Insurance Reform Act of 2004 and any regulations promulgated thereunder.

  • Paycheck Protection Program means loan program created by Section 1102 of the CARES Act.

  • Data Protection Law means the applicable legislation protecting the fundamental rights and freedoms of persons and their right to privacy with regard to the processing of Personal Data under the Agreement (and includes, as far as it concerns the relationship between the parties regarding the processing of Personal Data by SAP on behalf of Customer, the GDPR as a minimum standard, irrespective of whether the Personal Data is subject to GDPR or not).

  • Plant Protection Gas means the minimum volumes required to prevent physical harm to the plant facilities or danger to plant personnel when such protection cannot be afforded through the use of an alternate fuel. This includes the protection of such material in process as would otherwise be destroyed, but shall not include deliveries required to maintain plant production. A determination will be made by the Seller of minimum volumes required. Such essential volumes will be dispatched accordingly.

  • Credit accident and health insurance means insurance on a debtor to provide

  • Flood Insurance means the insurance coverage provided under the National Flood Insurance Program.

  • Flood Protection System means those physical structural works for which funds have been authorized, appropriated, and expended and which have been constructed specifically to modify flooding in order to reduce the extent of the area within a community subject to a "special flood hazard" and the extent of the depths of associated flooding. Such a system typically includes hurricane tidal barriers, dams, reservoirs, levees or dikes. These specialized flood modifying works are those constructed in conformance with sound engineering standards.

  • Data Protection Laws means all laws and regulations that govern the access, use, disclosure, or protection of Personal Data to which a party is subject with respect to the Service or the Software.

  • Flood Insurance Laws means, collectively, (i) the National Flood Insurance Act of 1968 as now or hereafter in effect or any successor statute thereto, (ii) the Flood Disaster Protection Act of 1973 as now or hereafter in effect or any successor statue thereto, (iii) the National Flood Insurance Reform Act of 1994 as now or hereafter in effect or any successor statute thereto and (iv) the Flood Insurance Reform Act of 2004 as now or hereafter in effect or any successor statute thereto.

  • Data Protection Legislation means the Data Protection Act 1998 and all applicable laws and regulations relating to processing of personal data and privacy, including where applicable the guidance and codes of practice issued by the Information Commissioner or relevant Government department in relation to such legislation;

  • EU Data Protection Law means (i) prior to 25 May 2018, Directive 95/46/EC of the European Parliament and of the Council on the protection of individuals with regard to the processing of Personal Data and on the free movement of such data ("Directive") and on and after 25 May 2018, Regulation 2016/679 of the European Parliament and of the Council on the protection of natural persons with regard to the processing of Personal Data and on the free movement of such data (General Data Protection Regulation) ("GDPR"); and (ii) Directive 2002/58/EC concerning the processing of Personal Data and the protection of privacy in the electronic communications sector and applicable national implementations of it (as may be amended, superseded or replaced).

  • Consumer Protection Act means the Consumer Protection Act, No. 68 of 2008 (as amended from time to time).

  • Data Protection Acts means Data Protection Act 1988, as amended by the Data Protection (Amendment) Act 2003, and as may be modified, amended, supplemented, consolidated or re- enacted from time to time;

  • UK Data Protection Laws means the Data Protection Xxx 0000 (incorporating the UK GDPR) and the Privacy and Electronic Communications (EC Directive) Regulations 2003, and the laws implementing or supplementing them;

  • Data Protection Laws and Regulations means all laws and regulations, including laws and regulations of the European Union, the European Economic Area and their member states, Switzerland and the United Kingdom, applicable to the Processing of Personal Data under the Agreement.

  • EU Data Protection Laws means EU Directive 95/46/EC, as transposed into domestic legislation of each Member State and as amended, replaced or superseded from time to time, including by the GDPR and laws implementing or supplementing the GDPR;

  • European Data Protection Law means the GDPR and any data protection law of a European Member State and Switzerland, including local legislation implementing the requirements of the GDPR, including subordinate legislation, in each case as amended from time to time;

  • Accident and health insurance means contracts that incorporate morbidity risk and provide protection against economic loss resulting from accident, sickness, or medical conditions and as may be specified in the valuation manual.

  • Standard Hazard Insurance Policy means a fire and casualty extended coverage insurance policy in such amount and with such coverage as required by this Agreement.

  • European Data Protection Laws means data protection laws applicable in Europe, including: (i) Regulation 2016/679 of the European Parliament and of the Council on the protection of natural persons with regard to the processing of personal data and on the free movement of such data (General Data Protection Regulation) ("GDPR"); (ii) Directive 2002/58/EC concerning the processing of personal data and the protection of privacy in the electronic communications sector; and (iii) applicable national implementations of (i) and (ii); or (iii) GDPR as it forms parts of the United Kingdom domestic law by virtue of Section 3 of the European Union (Withdrawal) Act 2018 ("UK GDPR"); and (iv) Swiss Federal Data Protection Act on 19 June 1992 and its Ordinance ("Swiss DPA"); in each case, as may be amended, superseded or replaced.