Short Period Rates definition

Short Period Rates means rates of premium for periods shorter than one year, as per details below-
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Short Period Rates means the following: Period Not Exceeding Percentage of Rate Charged 15 days 10% of Annual Rate 1 month 20% -do- 2 months 30% -do- 3 months 40% -do- 4 months 50% -do- 5 months 60% -do- 6 months 70% -do- 7 months 75% -do- 8 months 80% -do- 9 months 85% -do- 10 months 90% -do- 11 months 95% -do- 12 months 100% -do-
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Examples of Short Period Rates in a sentence

  • Provided there has been no claim during the Period of Insurance we will refund the premium paid less an amount calculated at our Short Period Rates subject to Condition 4c).

  • Provided that there has not been a loss or Accident likely to give rise to a claim during the Period of Insurance, the Insured shall be entitled to a return of premium at the Company’s Short Period Rates as shown below for the time the Insurance has been in force.

  • Please note that you should tailor this letter to the facts in your case.

  • If this Policy is cancelled by the Policyholder or the Company, the Company shall refund the premium paid less an amount calculated with reference to the Short Period Rates provided that no such refund shall be paid if any claim has been paid or is payable under this Policy during the current Policy Year.

  • This Policy may be canceled at any time by the Policyholder on seven (7) days notice to the Company and in such event the Policyholder shall be entitled to a return premium less premium at the Company’s Short Period Rates for the time this Policy has been in force during the Period of Insurance.

  • Provided there has been no claim during the Period of Insurance we will refund the premium paid less an amount calculated at our Short Period Rates subject to Condition 5c).

  • Short Period Rates Period for which policy has remained in forceas on date of cancellation % Retention by the Company Less than 30 days 25% of Annual Premium Exceeding 30 days and up to 90 days 50% of Annual Premium Exceeding 90 days and up to 180 days 75% of Annual Premium Above 180 days Full Annual Premium – No refund is allowed.

  • If the Period of Insurance is 12 months or more, premium shall be refunded in accordance to the Short Period Rates based on each 12-month block.

  • This Policy may also be cancelled at any time by the Insured on notice to the Company in which event the Insured shall be entitled to a return of the premium less premium at the Company’s Short Period Rates for the time the Policy has been in force during the then current period of insurance.

  • You may cancel this Policy by giving seven days’ notice to Us and You will be entitled to a return of the premium paid less the premium computed at Our Short Period Rates for the period the Policy has been in force which amount You have become liable to pay.

Related to Short Period Rates

  • Reset Period means the First Reset Period or a Subsequent Reset Period, as the case may be;

  • Average weekly discharge limitation means the highest allowable average of "daily discharges'' over a calendar week, calculated as the sum of all "daily discharges'' measured during a calendar week divided by the number of "daily discharges'' measured during that week. Each of the following 7-day periods is defined as a calendar week: Week 1 is Days 1 - 7 of the month; Week 2 is Days 8 - 14; Week 3 is Days 15 - 21; and Week 4 is Days 22 - 28. If the "daily discharge" on days 29, 30 or 31 exceeds the "average weekly" discharge limitation, Ohio EPA may elect to evaluate the last 7 days of the month as Week 4 instead of Days 22 - 28. Compliance with fecal coliform bacteria or E coli bacteria limitations shall be determined using the geometric mean.

  • ECB Recommended Rate Index Cessation Effective Date means, in respect of an ECB Recommended Rate Index Cessation Event, the first date on which the ECB Recommended Rate is no longer provided, as determined by the Issuer and notified by the Issuer to the Calculation Agent;

  • Payout Period means the time frame during which certain benefits payable hereunder shall be distributed. Payments shall be made in monthly installments commencing on the first day of the month following the occurrence of the event which triggers distribution and continuing for a period of one hundred eighty (180) months. Should the Executive make a Timely Election to receive a lump sum benefit payment, the Executive's Payout Period shall be deemed to be one (1) month.