Policy Value definition

Policy Value means the amount to which separately identified interest credits and mortality, expense, or other charges are made under a universal life insurance policy.

Policy Value means a policy’s GPR.

Policy Value means the amount of which separately identified interest credits and mortality, expense, or other charges are made under a universallife insurance policy.

Examples of Policy Value in a sentence

• Withdrawals will reduce the Policy Value and death benefit of the policy to which this rider is attached.

• Policy Value: * The annual premium is assumed to be paid at the beginning of month 1 in each year.

• The Guaranteed Lifetime Withdrawal Benefit can only be taken as a withdrawal benefit and it does not increase the Policy Value.

• If the Policy Value equals zero, You cannot make subsequent Premium Payments and all other policy features, benefits and guarantees are no longer available unless specified within this rider.

• Also, if the Policy Value equals zero and the rider remains in force, we will, unless instructed otherwise, make payments using the current payment instructions on file with us that are equal to the Rider Withdrawal Amount divided by the frequency of payments.

More Definitions of Policy Value

Policy Value. The sum of the Variable Account Value, the Fixed Account Value and the Loan Account Value. The Policy Value on the Policy Effective Date is the initial Net Premium less the Monthly Deduction for the upcoming month. Policy Year: Each period of 12 months commencing with the Policy Effective Date.

Policy Value means the sum of the Portfolio Values.

Policy Value. The sum of the values of your interests in the subaccounts of the separate account plus the value of the fixed account and the loan account. The amount from which monthly deductions are made and the death benefit is determined.

Policy Value means the amount, developed within the main structure of the policy or provided in a separate policy provision, to which separately identified interest credits and mortality, morbidity, expense or other charges are made under a fixed premium universal life insurance policy. The policy owner may or may not have a right to the entire policy value because of built in surrender charges imposed by the insurer.

Policy Value. Amount defined in Section 4, that can be used to fund one of the income options. POLICY YEAR – The 12-month period following the policy date shown on the Policy Data page. The first policy year starts on the policy date. Each subsequent year starts on the anniversary of the policy date.

Policy Value means the sum of Fund Values across all funds in the Policy.

Policy Value. : means the total Value of Units attaching to the Policy.