Premium Loan definition

Premium Loan. Any Mortgage Loan with a Net Rate greater than or equal to 7.00% per annum.

Premium Loan. For Mortgage Loans in Group I, any such loan with a Net Rate in excess of 7.5% and, for Mortgage Loans in Group II, any such loan with a Net Rate in excess of 8.5%.

Premium Loan. Any Group 2 Mortgage Loan with a Net Rate greater than or equal to 7.50% per annum.

Examples of Premium Loan in a sentence

• The minimum loan amount is $500, unless the loan is an Automatic Premium Loan.

• Entering the incorrect premium will result in processing delays and require submission of a new, corrected application.If You and/or your Spouse/Domestic or Civil Union Partner want to have the optional Automatic Premium Loan feature or the optional Accidental Death Benefit to Age 100 Rider, please make the appropriate selections in this Section.

• If the Policy continues in force because of the operation of an Automatic Premium Loan provision, or other such provision by which the Ceding Company receives compensation for its risk, then the reinsurance will also continue and the Ceding Company will pay the Reinsurer the reinsurance premium for the period to the date of termination.

• The usual billing statements will continue to be sent to you while the Automatic Premium Loan provision is in effect.

• Automatic Premium Loan:  Y  N(inheritance, loan, business activity) (Complete for Whole Life only.)30.

More Definitions of Premium Loan

Premium Loan. Any Group 1 Premium Loan or Group 2 Premium Loan.

Premium Loan means the initial Loan made for the purpose set out in paragraphs (a) and (b) of Clause 3.1 (Purpose).

Premium Loan. Any Mortgage Loan in Loan Group I or Loan Group III with a Net Rate greater than 8.00%; any Mortgage Loan in Group IV with a Net Rate greater than 6.50%, any Mortgage Loan in Group V with a Net Rate greater than 7.00%, and any Mortgage Loan in Group VI with a Net Rate greater than 5.50%.

Premium Loan the mortgage loans having Net Rates greater than or equal to 7.000% per annum.

Premium Loan. Any Group [ ] Mortgage Loan with a Net Rate greater than or equal to [ ]% per annum.

Premium Loan. A mortgage loan with respect to which the mortgagee pays to the mortgagor consideration or "premium" at origination for the mortgagor's acceptance of the mortgage loan.

Premium Loan. Any Mortgage Loan in Subgroup A with a Net Rate greater than or equal to 5.50% and any Mortgage Loan in Subgroup C with a Net Rate greater than or equal to 6.00%.