Examples of Premium Loading in a sentence
The circumstances that a fact shall be considered "material" include, but not limited to, the situation where the disclosure of such fact as required by the Company would have affected the underwriting decision of the Company, such that the Company would have imposed Premium Loading, included Case-based Exclusion(s), or rejected the application.
Where the Policy Holder requests the Company to re-underwrite these Terms and Benefits at the time of Renewal for reduction in Premium Loading or removal of Case-based Exclusion(s) according to the Company's underwriting practices.
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.
Where the Policy Holder requests the Company to re-underwrite these Terms and Benefits at the time of Renewal for reduction in Premium Loading or removal of Case- based Exclusion(s) according to the Company's underwriting practices.
Part 3 Premium ProvisionsPremium payable1.The premium payable for these Terms and Benefits shall only include –(a) the Standard Premium according to the prevailing Standard Premium schedule adopted by the Company; and (b) the Premium Loading, if applicable.
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.
Any Case-based Exclusion(s) and/or Premium Loading applicable to the original Policy will also be applied to the new Policy.
Premium Loading shall mean 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.
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.