Revival of the policy definition

Revival of the policy means putting a lapsed policy, which has not acquired any value as on date of first unpaid premium, into force, upon the receipt of all the premiums due and other charges/late fee if any, and on the basis of the information, documents and reports furnished by him/her, in accordance with the Company’s Board approved Underwriting guidelines.
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Revival of the policy. Means restoration of the policy, which was discontinued due to the non-payment of premium, by the insurer with all the benefits mentioned in the policy document, upon receipt of all the premiums due along with interest, charges, late fees if any, as per the terms and conditions of the policy, upon being satisfied as to the continued insurability of the insured on the basis of the information, documents and reports furnished by the policyholder, in accordance with the Board approved Underwriting Guidelines.
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Revival of the policy means restoration of Policy benefits.
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Examples of Revival of the policy in a sentence

  • Revival of the policy shall be based on Underwriting Policy of the Company.If a lapsed policy is not revived during the revival period, the policy shall be terminated without paying any benefits.However, if a Reduced Paid-Up policy is not revived during the Revival Period, it shall continue in that mode until maturity.

  • All benefits under the policy will be reinstated on the Revival of the policy.

  • In the event if the Life Insured commits suicide within 12 months from the Date of Commencement of the Policy or from the Date of Revival of the policy, as applicable, the Nominee/ Beneficiary shall be entitled to the Fund Value, as available on the date of intimation of death.

  • If the Life Assured commits Suicide, whether sane or insane, within one year from the Date of issue / Revival of the policy, sum assured will not be payable, and the nominee of the policy holder shall be entitled to 80% of the total premiums paid excluding taxes, all extra premiums(if any).

  • Revival of the policy may be on terms different from those applicable to the policy before the premiums were discontinued; On payment of overdue premiums before the end of revival period, the policy will be revived.

  • If you miss paying your premiums within first five policy years, you are entitled to use one of the following options if you have bought the policy under regular or limited premium –Option 1: Revival of the policy within a period of two years, orOption 2: Complete withdrawal from the policy without any risk cover In case you have not paid your premiums, we will send you a notice within 15 days from the date of expiry of the grace period and ask you to use the options mentioned above, within 30 days.

  • Revival of the policy is not allowed after the expiry of the lock in period.

  • Revival of the policy will be subject to the following conditions: ● Satisfactory evidence of insurability of the Life Assured ; and ● Payment in full of an amount equal to all the Policy Premiums due but unpaid till the Effective Date of Revival.

  • From the date of Revival of the policy, the Nominee or Beneficiary of the Life Insured shall be entitled to an amount which is higher of 80% of the Premiums paid till the date of death or the surrender value as available on the date of death.

  • Revival of the policy is subject to our Board Approved Underwriting Policy.If policy in Reduced Paid Up mode is not revived during the revival period, it will continue in the reduced paid up mode until the earliest of maturity or death or surrender of the policy.

Related to Revival of the policy

  • The Policy means any insurance policy held by the Landlord for the Property or the Fixtures and Fittings.

  • Evidence of Insurability means a statement of proof of your medical history upon which acceptance for insurance will be determined by Lincoln.

  • D&O Tail Policy has the meaning set forth in Section 5.8(c).

  • Tail Policy has the meaning set forth in Section 6.18(b).

  • Errors and Omissions Insurance Policy means an errors and omissions insurance policy maintained by the Master Servicer, the Special Servicer, the Trustee, the Custodian or the Certificate Administrator, as the case may be, in accordance with Section 8.2, Section 9.2 and Section 7.17, respectively.

  • Insurance Commissioner means the Insurance Commissioner

  • Blanket insurance policy means a group policy covering a defined class of

  • Errors and Omissions Policy As defined in each of the Servicing Agreements.

  • D&O Liability Insurance Policies means all insurance policies (including any “tail policy”) of any of the Debtors for liability of any current or former directors, managers, officers, and members.

  • Surplus lines insurance means insurance in this State of risks located or to be performed in this State, permitted to be placed through a resident licensed broker with a nonadmitted insurer eligible to accept the insurance, other than reinsurance, wet marine and transportation insurance, insurance independently procured, and life and health insurance and annuities. Excess and stop‑loss insurance coverage upon group life, accident, and health insurance or upon a self‑insured’s life, accident, and health benefits program may be approved as surplus lines insurance.

  • Hazard Insurance Policy means, with respect to each Contract, the policy of fire and extended coverage insurance (and federal flood insurance, if the Manufactured Home is secured by an FHA/VA Contract and such Manufactured Home is located in a federally designated special flood area) required to be maintained for the related Manufactured Home, as provided in Section 5.09, and which, as provided in said Section 5.09, may be a blanket mortgage impairment policy maintained by the Servicer in accordance with the terms and conditions of said Section 5.09.

  • application for international protection means a request made by a third country national or a stateless person for protection from a Member State, who can be understood to seek refugee status or subsidiary protection status, and who does not explicitly request another kind of protection, outside the scope of this Directive, that can be applied for separately;

  • Insurance Affordability Program means a program that is one of the following:

  • In-Orbit Insurance means, with respect to any Satellite (or, if the entire Satellite is not owned by the Issuer or any Restricted Subsidiary, as the case may be, the portion of the Satellite it owns or for which it has risk of loss), insurance (subject to a right of co-insurance in an amount up to $150.0 million) or other contractual arrangement providing for coverage against the risk of loss of or damage to such Satellite (or portion, as applicable) attaching upon the expiration of the launch insurance therefor (or, if launch insurance is not procured, upon the initial completion of in-orbit testing) and attaching, during the commercial in-orbit service of such Satellite (or portion, as applicable), upon the expiration of the immediately preceding corresponding policy or other contractual arrangement, as the case may be, subject to the terms and conditions set forth in this Indenture.

  • Property Reinvestment Application means, with respect to any asset disposition, the application of the Net Proceeds Amount (or a portion thereof) with respect to such asset disposition to the acquisition by the Company or any Subsidiary of fixed or capital assets of the Company or any Subsidiary to be used in the business of such Person.

  • Controller of Examinations means the Controller of Examinations of the University;

  • the 2003 Act means the Health and Social Care (Community Health and Standards) Act 2003;

  • Claims Made Policies has the meaning set forth in Section 5.01(b).

  • Company Insurance Policies has the meaning set forth in Section 4.15.

  • Mortgage Impairment Insurance Policy A mortgage impairment or blanket hazard insurance policy as described in Section 4.11.

  • Insurance Regulatory Authority means, with respect to any Insurance Subsidiary, the insurance department or similar Governmental Authority charged with regulating insurance companies or insurance holding companies, in its jurisdiction of domicile and, to the extent that it has regulatory authority over such Insurance Subsidiary, in each other jurisdiction in which such Insurance Subsidiary conducts business or is licensed to conduct business.

  • Insurance Regulator means, with respect to any jurisdiction, the Governmental Authority charged with the supervision of insurance companies in such jurisdiction.

  • D&O Policy has the meaning set forth in Section 6.18(b).

  • Insurance Authority means the Insurance Authority of Hong Kong established pursuant to section 4AAA of the Insurance Ordinance.

  • D&O Policies has the meaning set forth in Section 8.06.

  • Claims-made coverage means an insurance contract or provision limiting