Premium Expense definition

Premium Expense or "Premiums" means the Participant's cost for the Covered Benefits described in this document.
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Premium Expense means the Participant’s cost for the insurance benefits that are part of the Employer’s benefit program.
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Premium Expense means the expense identified with the Medical Insurance Benefits elected by a Participant in accordance with Section 3.2.
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Examples of Premium Expense in a sentence

  • Loan repayments are credited to the Fixed Account and the Variable Account in the form of Net Premiums without a Premium Expense Charge.

  • The Premium Expense Charge will consist of the amounts shown on page 4.

  • The amount of the net premium will be: - the premium paid; less - the Premium Expense Charge.

  • On and after the Initial Allocation Date, Northwestern Mutual will transfer and credit all Net Premiums (i.e., subsequent Premium Payments less Premium Expense Charges) to the Divisions of the Separate Account based on Policy Owner instructions then in effect.

  • The Company, at its sole discretion, may periodically revise Insurance Charge rates, the monthly Policy Loan Expense Charge, Premium Expense Charge, Face Amount Charge, and Monthly Administrative Charge.

  • The Company, at its sole discretion may revise annually Insurance Charge Rates, monthly Policy Loan Expense Charge (PLEC), Premium Expense Charge (PEC), Face Amount Charge (FAC), and Monthly Administrative Charge (MAC).

  • The Premium Expense Charge will be deducted from any premiums paid and the amount remaining will be the Net Premium.

  • The Company will refund an amount equal to the sum of: • The Policy Value as of the Business Day the Company received the returned Policy and Acceptable Notice; • Any Premium Expense Charges deducted from Premiums paid; • Any Monthly Charges charged against the Policy Value; and • An amount reflecting other charges deducted under the Policy.

  • These deductions consist of two components: (a) the Premium Expense Charge and (b) the Monthly Charge.

  • On the Issue Date, the Company will credit to the Policy the first Premium, less the Premium Expense Charge, minus any Monthly Charge due.


More Definitions of Premium Expense

Premium Expense. Charges The premium expense charges are the amounts we deduct from each premium payment. These charges are shown in Section 1, Contract Data.
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Premium Expense means the expense identified with the Benefit Program elected by a Participant in accordance with Section 3.2.
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Premium Expense. The meaning set forth in Section 3.5(cc) hereof.
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Premium Expense. Charge The amount we deduct from each premium payment. We show this charge in Section 1, Contract Data.
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Premium Expense has the meaning set forth in Section 5.11(b).
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Related to Premium Expense

  • Extra Expense means expense or cost incurred (1) to continue the conduct of the Assured’s business,

  • Premium pay Per the statute, recipients have broad latitude to designate critical infrastructure sectors and make grants to third-party employers for the purpose of providing premium pay or otherwise respond to essential workers. While the interim final rule generally preserves the flexibility in the statute, it does add a requirement that recipients give written justification in the case that premium pay would increase a worker’s annual pay above a certain threshold. To set this threshold, Treasury analyzed data Federal Register / Vol. 86, No. 93 / Monday, May 17, 2021 / Rules and Regulations 26817 from the Bureau of Labor Statistics to determine a level that would not require further justification for premium pay to the vast majority of essential workers, while requiring higher scrutiny for provision of premium pay to higher- earners who, even without premium pay, would likely have greater personal financial resources to cope with the effects of the pandemic. Treasury believes the threshold in the interim final rule strikes the appropriate balance between preserving flexibility and helping encourage use of these resources to help those in greatest need. The interim final rule also requires that eligible workers have regular in-person interactions or regular physical handling of items that were also handled by others. This requirement will also help encourage use of financial resources for those who have endured the heightened risk of performing essential work.

  • Covered Expense means expense incurred only for the following:

  • Premium tax means a tax paid by insurance companies to provincial and territorial governments calculated as a percentage of gross premiums written.

  • Premium Due Date means date specified in the Schedule on which the Instalment Premium will become due.

  • Premium surcharge means a payment required from a subscriber, in addition to the subscriber's medical premium contribution, due to an enrollee's tobacco use or an enrolled subscriber's spouse or state registered domestic partner choosing not to enroll in their employer- based group medical when:

  • Premium payment plan means a benefit plan whereby state and

  • Premium Amount The amount of premium due to the Note Insurer in accordance with the terms of the Insurance Agreement.

  • Premium Payment Term means the term specified in the Schedule, during which the Premiums are payable by You;

  • Rental Expense means, for any period, for the Borrower and its Subsidiaries on a consolidated basis, total rental expense as calculated in accordance with GAAP.

  • Extra Premium means an additional amount charged by Us, as per Our Underwriting Policy, which is determined on the basis of disclosures made by You in the Proposal Form or any other information received by Us including medical examination report of the Life Insured.

  • Medical Expense means an expense incurred at the time a past member or his or her health reimbursement account dependent is furnished the medical care or service. To be considered a medical expense under this act, the expense shall meet all of the following conditions:

  • O&M Expenses means expenses incurred by or on behalf of the Developer or by the Authority, as the case may be, for all O&M including (a) cost of salaries and other compensation to employees, (b) cost of materials, supplies, utilities and other services, (c) insurance premium, (d) all taxes, duties, cess and fees due and payable for O&M, (e) all repair, replacement, reconstruction, reinstatement, improvement and maintenance costs, (f) payments required to be made under the O&M Contract, or any other contract in connection with or incidental to O&M, and (g) all other expenditure required to be incurred under Applicable Laws, Applicable Permits or this Agreement.

  • Insured Expenses Expenses covered by an Insurance Policy or any other insurance policy with respect to the Mortgage Loans.

  • Program Expenses means all UHC’s expenses of administering the Program under the Indenture and the Act and shall include without limiting the generality of the foregoing; salaries, supplies, utilities, labor, materials, office rent, maintenance, furnishings, equipment, machinery and apparatus, including information processing equipment; software, insurance premiums, credit enhancement fees, legal, accounting, management, consulting and banking services and expenses; Fiduciary Expenses; remarketing fees; Costs of Issuance not paid from proceeds of Bonds; and payments to pension, retirement, health and hospitalization funds; and any other expenses required or permitted to be paid by UHC.

  • Rent Expense means for any fiscal period, the total amount of rents and other charges payable during such period by the Credit Parties and their respective Subsidiaries under all Real Estate Leases to which they are a lessee, all as determined on a consolidated basis in accordance with GAAP.

  • Interest Expense Coverage Ratio means, for any period, the ratio of (a) Consolidated EBITDA for such period to (b) Consolidated Interest Expense for such period.

  • Insurance Costs means the sums described in paragraph 1.1 of Part 5 of the Schedule;

  • Lease Expense means, with respect to any Person, for any period for such Person and its subsidiaries on a Consolidated basis, lease and rental expense accrued during such period under all leases and rental agreements, other than Capital Leases and leases of personal property, determined in conformity with GAAP.

  • Consolidated Depreciation and Amortization Expense means with respect to any Person for any period, the total amount of depreciation and amortization expense, including the amortization of deferred financing fees of such Person and its Restricted Subsidiaries for such period on a consolidated basis and otherwise determined in accordance with GAAP.

  • Public expense means that the LEA either pays for the full cost of the evaluation or ensures that the evaluation is otherwise provided at no cost to you, consistent with the provisions of Part B of the IDEA, which allow each State to use whatever State, local, Federal and private sources of support are available in the State to meet the requirements of Part B of the Act.

  • Loss Adjustment Expense means costs and expenses incurred by the Company in connection with the investigation, appraisal, adjustment, settlement, litigation, defense or appeal of a specific claim or loss, or alleged loss, including but not limited to:

  • Premium Payment Date in respect of any Option, means the date on which the Premium is due and payable, as agreed to at the time the Option is entered into, as evidenced in a Confirmation.

  • Cost Reimbursement means a contract which provides for a fee other than a fee based on a percentage of cost and under which a contractor is reimbursed for costs which are allowable and allocable in accordance with the contract terms.

  • Consolidated Depreciation Expense means, for any period, the depreciation expense of Holdings and its Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP.

  • Tax Expense means, for any period, the tax expense (including federal, state, provincial, local, foreign, franchise, excise and foreign withholding taxes) of the Loan Parties and their Subsidiaries, including any penalties and interest relating to any tax examinations for such period, determined on a consolidated basis in accordance with GAAP.