Premium Limit definition

Premium Limit shall have the meaning set forth in Section 6.9(b).
Sample 1Sample 2Sample 3
Premium Limit has the meaning ascribed to such term in Section 7.03(b).
Sample 1

Examples of Premium Limit in a sentence

  • For Surrender Charge purposes, the premiums attributable to the new Face Amount will not exceed the Surrender Charge Premium Limit associated with that increase.

  • The request for a decrease in the Face Amount will be subject to the Guideline Premium Limit as defined in the Code.

  • Any offer of renewal of terms involving a change of Deductible, Premium, Limit of Insurance, or other terms and conditions will not constitute, nor be construed as, a refusal by the Company to renew this Policy.

  • The request for a decrease in the Total Face Amount will be subject to the Guideline Premium Limit (if specified for your Policy) as defined in the Code.

  • The Maximum Premium Limit for a policy year is the largest amount of premium which can be paid in that policy year such that the sum of the premiums paid under the policy will not at any time exceed the guideline premium limitation referred to in Section 7702 of the Internal Revenue Code of 1986, as amended, or as set forth in any applicable successor thereto.

  • The Maximum Premium Limit for the following policy year will be shown on the Annual Report sent to the Owner.

  • Under the Guideline Premium Test, any change in policy or rider benefits will require an adjustment to the Guideline Premium Limit.

  • The Maximum Premium Limit for the following policy year will be shown on the Annual Report.

  • For Policies with Death Benefit Option A and the Guideline Premium Test election, the Face Amount reduction following a withdrawal may be limited to keep the Guideline Premium Limit greater than zero at all times prior to age 100.

  • Guideline Premium Limit – This subsection applies only if the Guideline Premium Test is the Death Benefit Qualification Test specified in the Policy Specifications.

Related to Premium Limit

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

  • 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.

  • Insurance Amount has the meaning set forth in Section 6.11(c).

  • Premium Loading means the additional premium on top of the Standard Premium charged by the Company to the Policy Holder according to the additional risk assessed for the Insured Person.

  • Premium payment plan means a benefit plan whereby school em- ployees may pay their share of group health plan premiums with pretax dollars as provided in the salary reduction plan under chapter 41.05 RCW pursuant to 26 U.S.C. Sec. 125 or other sections of the Internal Revenue Code.

  • 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 Percentage As defined in the Insurance Agreement.

  • 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.

  • Premium service means programming choices (such as movie Channels, pay-per-view programs, or video on demand) offered to Subscribers on a per-Channel, per-program or per- event basis.

  • Interest Coverage Amount The amount to be paid by the Depositor to the Trustee for deposit into the Interest Coverage Account on the Closing Date pursuant to Section 4.08, which amount is $____________.

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

  • Payment Cap For each Mortgage Loan, the percentage limit set forth in the related Mortgage Note concerning the maximum permitted increase in a monthly payment.

  • Reimbursement insurance policy means a policy of insurance