Premium Expense definition

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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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 or "Premiums" means the Participant's cost for the Covered Benefits described in this document.
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Examples of Premium Expense in a sentence

  • The Net Premium is the premium payment received less the Premium Expense Charge shown in Section 1, Contract Data.

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

  • The remainder of a premium after deduction of the Premium Expense Charge.

  • The Premium Expense Charge will consist of the amounts shown on the Policy Schedule Pages (page 4).

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

  • The Company will refund the sum of (a) the Contract Fund Value on the date the returned Policy is received at the Home Office plus (b) any Premium Expense Charge, Monthly Policy Charge and service charges deducted under this Policy.

  • Upon receipt of payment, the Company will add the premium, less Premium Expense Charges and any Monthly Policy Charges due and unpaid, according to the allocation of Net Premiums (Section 4.3) currently in effect.

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

  • On the date this Policy is reinstated, the Policy Value will be equal to the premium paid less the sum of: • the Premium Expense Charge; and • all Monthly Policy Charges that were due and unpaid before the end of the Policy Grace Period and the Monthly Policy Charge on the effective date of reinstatement.

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


More Definitions of Premium Expense

Premium Expense. The meaning set forth in Section 3.5(cc) hereof.
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Premium Expense has the meaning set forth in Section 5.11(b).
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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. 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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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 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.