Premium Loading definition

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 Loading means the additional premium on top of the Standard

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. "Prescribed Diagnostic Imaging Tests" shall mean computed tomography (“CT” scan), magnetic resonance imaging (“MRI” scan), positron emission tomography (“PET” scan), PET-CT combined and PET- MRI combined. "Prescribed Non-surgical Cancer Treatments" shall mean chemotherapy, radiotherapy, targeted therapy, immunotherapy and hormonal therapy for cancer treatment. "Reasonable and Customary" shall mean, in relation to a charge for Medical Service, such level which does not exceed the general range of charges being charged by the relevant service providers in the locality where the charge is incurred for similar treatment, services or supplies to individuals with similar conditions, e.g. of the same sex and similar Age, for a similar Disability, as reasonably determined by the Company in utmost good faith. The Reasonable and Customary charges shall not in any event exceed the actual charges incurred.In determining whether a charge is Reasonable and Customary, the Company shall make reference to the followings (if applicable) –(a) treatment or service fee statistics and surveys in the insurance or medical industry;(b) internal or industry claim statistics;(c) gazette published by the Government; and/or(d) other pertinent source of reference in the locality where the treatments, services or supplies are provided. "Registered Medical Practitioner", "Specialist", "Surgeon" and "Anaesthetist" shall mean a medical practitioner of western medicine, (a) who is duly qualified and is registered with the Medical Council of Hong Kong pursuant to the Medical Registration Ordinance (Cap. 161 of the Laws of Hong Kong) or a body of equivalent standing in jurisdictions outside Hong Kong (as reasonably determined by the Company in utmost good faith); and

Examples of Premium Loading in a sentence

• During each Policy Year and upon Renewal, the Company shall not impose any additional rate of Premium Loading (or any additional amount of Premium Loading if the Premium Loading is set in monetary terms rather than as a percentage of the Standard Premium) or Case-based Exclusion(s) on the Insured Person by reason of any change in the Insured Person's health conditions.

• For the avoidance of doubt, if the Premium Loading is set as a percentage of the Standard Premium (i.e. rate of Premium Loading), the amount of Premium Loading payable shall be automatically adjusted according to the change in Standard Premium.

• For the avoidance of doubt, if the Premium Loading is set as a percentage of the StandardPremium (i.e. rate of Premium Loading), the amount of Premium Loading payable shall be automatically adjusted according to the change in Standard Premium.

• Forthe avoidance of doubt, if the Premium Loading is set as a percentage of the Standard Premium (i.e. rate of Premium Loading), the amount of Premium Loading payable shall be automatically adjusted according to the change in Standard Premium.

• Upon reduction of the Deductible on the relevant Renewal Date, the premium payable shall include the Standard Premium according to the prevailing Standard Premium schedule adopted by the Company for such Deductible option, and any Premium Loading the Policy Holder has agreed for the Policy.

• Any levy payable in respect of the Standard Premium and Premium Loading, if any, paid for the Terms and Benefits shall be calculated after applying all discounts under this Supplement – Premium Provisions.

• One common form of Premium Loading is in a percentage of the Standard Premium.

• The Underwriting result helps the Company decide whether to accept the application, and whether to introduce Premium Loading and/or Case-based Exclusion(s) in the insurance policy to manage risk.

• The level of Premium Loading is correlated to the risk class determined through Underwriting.

• Any Case-based Exclusion(s) and/or Premium Loading applicable to the original Policy will also be applied to the new Policy.

More Definitions of Premium Loading

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. “Prescribed Diagnostic Imaging Tests” shall mean computed tomography (“CT” scan), magnetic resonance imaging (“MRI” scan), positron emission tomography (“PET” scan), PET-CT combined and PET-MRI combined. “Prescribed Non-surgical Cancer Treatments” shall mean chemotherapy, radiotherapy, targeted therapy, immunotherapy and hormonal therapy for cancer treatment. “Reasonable and Customary” shall mean, in relation to a charge for Medical Service, such level which does not exceed the general range of charges being charged by the relevant service providers in the locality where the charge is incurred for similar treatment, services or supplies to individuals with similar conditions, e.g. of the same sex and similar Age, for a similar Disability, as reasonably determined by the Company in utmost good faith. The Reasonable and Customary charges shall not in any event exceed the actual charges incurred.

Premium Loading means any additional amount payable as premium, over and above the premium payable for an insurance cover under the Scheme; and

Premium Loading means the additional premium on top of the Standard Premium charged by us to you according to the additional risk assessed for the Insured Person.

Premium Loading means any additional amount payable as a premium imposed in accordance with section 32A, over and above the premium payable by a member of the Scheme under section 32(1);”.