Savings Insurance Policy definition

Savings Insurance Policy means the combined risk and capital policy (gecombineerde risico- en kapitaalverzekering) taken by a Borrower with an Savings Insurance Company in connection with any Insurance Savings Mortgage Loan.
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Savings Insurance Policy means an insurance policy taken out by any Borrower, in connection with a Savings Mortgage Loan, comprised of a risk insurance element and a capital insurance element which pays out a certain amount on an agreed date or, if earlier, upon the death of the insured life.
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Savings Insurance Policy means the combined risk and capital policy (gecombineerde risico- en kapitaalverzekering) taken by a Borrower with a Savings Participant in connection with any Insurance Savings Mortgage Loan;
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Examples of Savings Insurance Policy in a sentence

  • The proceeds of the Savings Insurance Policy will be used to redeem the Savings Mortgage Loan.

  • A Savings Insurance Policy is a combined risk and capital insurance policy.

  • Repayment MechanismSavings Mortgage Loans ("spaarhypotheek")A Savings Mortgage Loan consists of a Mortgage Loan entered into by SNS Bank and the relevant Borrower, which has the benefit of a Savings Insurance Policy taken out by the Borrower with the Savings Insurance Company.

  • The value of investments made under the Investment-based Mortgage Loans or by one of the Life Insurance Companies in connection with the Life Insurance Policies or by the Insurance Savings Participant in connection with the Insurance Savings Mortgage Loans to which a Savings Insurance Policy with the Investment Alternative is connected, may not be sufficient for the Borrower to fully repay the related Mortgage Loans at its maturity.

  • The Savings Premium is calculated in such a manner that, on an annuity basis, the proceeds of the Savings Insurance Policy are equal to the amount due by the Borrower to SNS Bank at maturity of the Savings Mortgage Loan.

  • Furthermore, the Insurance Savings Participant shall in so far as possible not pay any amount due under the Savings Insurance Policy and the Savings Investment Insurance Policy related to Savings Mortgage Loans and Savings Investment Mortgage Loans, respectively, which are subject to an Insurance Savings Participation to the Borrowers, but to the CBC, by way of set-off.

  • These joint accounts may be subject to the Loan Protection/Life Savings Insurance Policy, where applicable.

  • The insurance proceeds are due either at the end of the Savings Insurance Policy or, if earlier, upon death of the Borrower.

  • Subject to clause 3 of the Parallel Debt Agreement and clauses 12, 13 and 14 of the Trust Deed, the Insurance Savings Participant shall effect payments under the Savings Insurance Policy and the Life Insurance Policy with a Savings Alternative, respectively, related to Savings Mortgage Loans and Life Mortgage Loans with a Savings Element, respectively, which are subject to an Insurance Savings Participation, where reasonably possible and to the extent permitted, to the CBC by way of set-off.

  • Savings Mortgage Loans: A portion of the Mortgage Loans (or parts thereof) will be in the form ofsavings mortgage loans, which consist of savings mortgage loans ("spaarhypotheken", hereinafter 'Savings Mortgage Loans') entered into by the Seller, with the relevant Borrowers combined with an insurance policy (a 'Savings Insurance Policy') with the Savings Insurance Company.


More Definitions of Savings Insurance Policy

Savings Insurance Policy. ] means an insurance policy taken out by any Borrower, in connection with a Savings Mortgage Loan, comprised of a risk insurance element and a capital insurance element which pays out a certain amount on an agreed date or, if earlier, upon the death of the insured life;
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Savings Insurance Policy means all claims which the relevant Transferor has or will have on the relevant Savings Participant or relevant insurance companies or in respect of any Savings Insurance Policies under which such Transferor has been appointed by the Borrower/insured as first beneficiary (begunstigde) in connection with the Savings Mortgage Receivable; means the combined risk and capital policy (gecombineerde risico- en kapitaalverzekering) taken by a Borrower with a Savings Participant or insurance company in connection with any Insurance Savings Mortgage Loan whereby the capital is built up with regular deposits and a "Savings Investment Insurance Policy" "Savings Linked Insurance Policy" fixed interest rate linked to the interest rate on the Mortgage Receivable; means an insurance policy taken out by any Borrower, in connection with a Switch Mortgage Loan, comprised of a risk insurance element and a capital insurance element which pays out a certain amount on an agreed date or, if earlier, upon the death of the insured life and whereby a Borrower may switch part or all premia accumulated in a Savings Alternative into an Investment Alternative and vice versa; means the Savings Insurance Policy and a Savings Investment Insurance Policy;
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Related to Savings Insurance Policy

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

  • Insurance Policies has the meaning set forth in Section 3.16.

  • Policy means Related Party Transaction Policy.

  • Life insurance means insurance coverage on human lives including benefits of endowment and annuities, and may include benefits in the event of death or dismemberment by accident and benefits for disability income and unless otherwise specifically excluded, includes individually issued annuities.