Examples of Required Premium in a sentence
Accordingly, any Required Premium due under this Section 6(b) is intended by the parties to be, and shall be deemed, a reasonable estimate of such Holder’s actual loss of its investment opportunity and not as a penalty.
No transfer may be made if the policy is in a Grace Period and the Required Premium has not been paid.
The Company will accept as part of the Initial Required Premium money from one or more contracts that qualified for a tax-free exchange under Section 1035 of the Internal Revenue Code.
Further, if the Initial Required Premium is received before the Policy is issued, the Company will hold the Initial Required Premium in a suspense account until the Valuation Day in which the application is deemed complete.
If the Initial Required Premium does not accompany the application or the application is approved other than as applied for, then the Policy Issue Date is approximately ten days after the Policy is approved.