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

  • A Premium Expense Account allows you to use tax-free dollars to pay for certain premium expenses under various insurance programs that we offer you.

  • Amounts designated for the Participant's Premium Expense Reimbursement Account shall likewise be credited to such account for the purpose of paying Premium Expenses.

  • A Premium Expense Account allows you to use tax-free dollars to pay for certain premium expenses under various group insurance programs the Company offers you.

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

  • The amount of the Medical Premium Expense Benefit will be equal to the premium paid for the last full month of coverage, whether for individual or family coverage, held by you under the group medical benefit plan, prior to the date your Disability began, not to exceed $1,500.

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

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


More Definitions of Premium Expense

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. 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 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

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

  • 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.