Savings Investment Insurance Policy definition

Savings Investment Insurance Policy 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;
Savings Investment Insurance Policy means an insurance policy taken out by any Borrower, in connection with a [Switch / Hybrid Mortgage Loan] [Life Mortgage Loan with a Savings Element], 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; [“Savings Mortgage Loan”] means a mortgage loan or part thereof in respect of which the Borrower is not required to repay principal until maturity, but instead pays on a monthly basis a premium to the relevant Savings Insurance Company; [“Savings Mortgage Receivable”] means the Mortgage Receivable resulting from a Savings Mortgage Loan;

Examples of Savings Investment Insurance Policy in a sentence

  • 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.

  • 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 Savings Investment Insurance Policy, respectively, related to Savings Mortgage Loans and Savings Investment Mortgage Loans, 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.

  • Each of the Credit Rating Agencies is established in the European Union and is registered under the CRA Regulation.Savings Mortgage ParticipantsObvion with respect to Switch Mortgage Loans and Savings Mortgage Loans to which a Savings Investment Insurance Policy or Savings Insurance Policy of Interpolis is connected; andObvion with respect to Bank Savings Mortgage Loans.

  • Subject to Clause 3 of the Parallel Debt Agreement and Clauses 12 and 13 of the Trust Deed, the Insurance Savings Participant shall effect payments under the Savings Insurance Policy and the Savings Investment Insurance Policy, respectively, related to Savings Mortgage Loans and Savings Investment Mortgage Loans, 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.

Related to Savings Investment Insurance Policy

  • Life Insurance Policy has the meaning given in Section 6.11.

  • Reimbursement insurance policy means a policy of insurance

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

  • R&W Insurance Policy has the meaning set forth in Section 6.15.

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

  • 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.

  • Life insurance means contracts that incorporate mortality risk, including annuity and pure endowment contracts, and as may be specified in the valuation manual.

  • Special Primary Insurance Policy Any Primary Insurance Policy covering a Mortgage Loan the premium of which is payable by the Trustee pursuant to Section 4.04(a), if so identified in the Mortgage Loan Schedule. There are no Special Primary Insurance Policies with respect to any of the Mortgage Loans.

  • Credit unemployment insurance means insurance:

  • Health insurance policy means a policy that provides specified benefits for hospital and/or general treatment and meets all requirements under section 63-10 of the Private Health Insurance Act 2007.

  • life insurance business means the business of providing or undertaking to provide policy benefits under life policies;

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

  • group insurance means blanket insurance and franchise insurance and any other forms of group insurance.

  • Required Insurance Policy With respect to any Mortgage Loan, any insurance policy that is required to be maintained from time to time under this Agreement.

  • Insurance Company The Transferee is an insurance company whose primary and predominant business activity is the writing of insurance or the reinsuring of risks underwritten by insurance companies and which is subject to supervision by the insurance commissioner or a similar official or agency of a state, U.S. territory or the District of Columbia.

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

  • Insurance Companies means the companies with whom the Insurance Policies are held.

  • Group long-term care insurance means a long-term care insurance policy which is delivered or issued for delivery in this State and issued to:

  • Primary Mortgage Insurance Policy Any primary mortgage guaranty insurance policy issued in connection with a Mortgage Loan which provides compensation to a Mortgage Note holder in the event of default by the obligor under such Mortgage Note or the related Security Instrument, if any or any replacement policy therefor through the related Interest Accrual Period for such Class relating to a Distribution Date.

  • Certificate Insurance Policy The Financial Guaranty Insurance Policy No. CA01172A, and all endorsements thereto dated the Closing Date, issued by the Certificate Insurer for the benefit of the Class AF-3 Certificateholders.

  • Specified Insurance Company means any Entity that is an insurance company (or the holding company of an insurance company) that issues, or is obligated to make payments with respect to, a Cash Value Insurance Contract or an Annuity Contract.

  • Health-care-insurance receivable means an interest in or claim under a policy of insurance which is a right to payment of a monetary obligation for health-care goods or services provided.

  • Ocean marine insurance means insurance against loss of or damage to:

  • Title Insurance Policy A title insurance policy maintained with respect to a Mortgage Loan.

  • Insurance group means the persons that comprise an insurance holding company system.

  • 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.