Examples of Processing Day in a sentence
If the misstatement is discovered prior to death, the cost of insurance rate will be adjusted based on the Insured's correct age beginning on the next Monthly Processing Day.
If the misstatement is discovered at death, the Death Benefit Proceeds will be adjusted based on what the cost of insurance rate as of the most recent Monthly Processing Day would have purchased at the Insured's correct age.
If the misstatement is discovered prior to death, the cost of insurance rate will be adjusted based on the Insured's correct age and gender beginning on the next Monthly Processing Day.
If the misstatement is discovered at death, the Death Benefit Proceeds will be adjusted based on what the cost of insurance rate as of the most recent Monthly Processing Day would have purchased at the Insured's correct age and gender.
We make a deduction from the Policy Account Value as of each monthly Policy Processing Day to compensate us for administrative expenses and for the Policy's insurance coverage.