Surrender values definition

Surrender values means the monetary value the basic policy has accumulated over the lifetime of the policy, minus any outstanding amount that you owe us. Doctor means a licensed person who is qualified by degree in western medicine to practice medicine. The license is given by the appropriate medical authority of his country of residence to practice medicine within his scope of licensing and training. This cannot be you, the Life insured, a family member or a relative. Endorsement means any written change to the policy which is issued and properly authorised by us. Life insured/He means the person whom we provide the cover for. The Life insured does not have any right to the policy, unless he is also the policy owner. Non-participating means it does not share in any surplus or profits of the company’s fund. Nominee(s) is a person that you have nominated (under the Insurance Act and Nomination of Beneficiary regulations) to receive the policy monies payable under the policy upon your death. The nomination must be registered with us. Participating means it shares in the surplus or profits of the life participating fund.
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Surrender values means the monetary value the basic policy has accumulated over the lifetime of the policy, minus any outstanding amount that you owe us. Doctor means a licensed person who is qualified by degree in western medicine to practice medicine. The license is given by the appropriate medical authority of his country of residence to practice medicine within his scope of licensing and training. This cannot be you, the Life insured, a family member or a relative. Endorsement means any written change to the policy which is issued and properly authorised by us. Life insured/He means the person whom we provide the cover for. The Life insured does not have any right to the policy, unless he is also the policy owner. Non-participating means it does not share in any surplus or profits of the company’s fund. Nominee(s) is a person that you have nominated (under the Insurance Act, Chapter 142 and Insurance (Nomination of Beneficiaries) Regulations 2009) to receive the policy monies payable under the policy upon your death. The nomination must be registered with us. Participating means it shares in the surplus or profits of the life participating fund.
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Examples of Surrender values in a sentence

  • Surrender values are not promised in excess of the legally computed reserves.

  • Surrender values may change in between reviews because in many cases the surrender values are calculated using formulae that depend upon factors such as term remaining which change over time.

  • The Company may declare Special Surrender values at such other rates not less than the Guaranteed Surrender Values as specified above.

  • Surrender values were assumed in accordance with the current actual surrender basis.

  • Surrender & transfer values Surrender values are calculated with reference to a formula.

  • The guaranteed Surrender Value Factors as a percentage of premiums paid are as mentioned in the table below: Premium Payment Term/ Policy Year 13 4.B Special Surrender Value: The Company may declare Special Surrender values from time to time, subject to prior approval from IRDA.

  • Surrender values are also guaranteed on Italian business reinsured with the Company.

  • Nationwide purchases shares on the date the restoration is processed using the Surrender values as of the date of the Surrender to determine the number of new shares to purchase.

  • Surrender values are assumed to be paid according to current formulae.

  • Surrender values are calculated by reference to the term of premiums paid with due allowance for expenses and an appropriate share of bonuses accrued to date.

Related to Surrender values

  • Surrender Value means an amount, if any, that becomes payable in case of Surrender of the Policy in accordance with the terms and conditions of the Policy.

  • Cash Surrender Value means an amount that equals, at any specified time, the cash surrender value as determined under the terms of the Policy.

  • Surrender when used with respect to American Depositary Shares, shall mean (i) one or more book-entry transfers of American Depositary Shares to the DTC account of the Depositary, (ii) delivery to the Depositary at its Office of an instruction to surrender American Depositary Shares not evidenced by a Receipt or (iii) surrender to the Depositary at its Office of one or more Receipts evidencing American Depositary Shares.

  • SAR Value means the excess of the Fair Market Value (on the exercise date) over the exercise price that the participant would have otherwise had to pay to exercise the related Stock Option, multiplied by the number of shares for which the Stock Appreciation Right is exercised.

  • SPS AER Value means the Underlying Reference Value.

  • transfer value means the value of a transferred vote calculated in accordance with rules STV47.4 or STV47.7. 42. Arrangements for counting of the votes 42.1 The returning officer is to make arrangements for counting the votes as soon as is practicable after the close of the poll. 42.2 The returning officer may make arrangements for any votes to be counted using vote counting software where:

  • Coupon Barrier Value means, in respect of a ST Coupon Valuation Date, Worst Value.

  • FR Value means, in respect of a ST FR Valuation Date, Worst Value.

  • Surrender Charge means a charge levied on the Fund Value at the time of surrender of the Policy.

  • Cash Value means the greater of (i) the amount that the policyholder is entitled to receive upon surrender or termination of the contract (determined without reduction for any surrender charge or policy loan), and (ii) the amount the policyholder can borrow under or with regard to the contract. Notwithstanding the foregoing, the term “Cash Value” does not include an amount payable under an Insurance Contract as: (1) a personal injury or sickness benefit or other benefit providing indemnification of an economic loss incurred upon the occurrence of the event insured against; (2) a refund to the policyholder of a previously paid premium under an Insurance Contract (other than under a life insurance contract) due to policy cancellation or termination, decrease in risk exposure during the effective period of the Insurance Contract, or arising from a redetermination of the premium due to correction of posting or other similar error; or (3) a policyholder dividend based upon the underwriting experience of the contract or group involved.

  • rand value means the total estimated value of a contract in Rand, calculated at the time of bid invitation, and includes all applicable taxes;

  • Purchase Option Price means the amount payable by a Lessee upon the exercise of its option to purchase a related 2018-1 Vehicle which amount equals (a) with respect to a Matured Vehicle, the Contract Residual Value plus any fees, taxes and other charges imposed in connection with such purchase and (b) with respect to a related 2018-1 Vehicle for which the related 2018-1 Lease has been terminated early by the Lessee, the sum of (i) any unpaid Monthly Payments due, (ii) any fees, taxes and other charges imposed in connection with the related 2018-1 Lease, (iii) an early termination fee and (iv) the Actuarial Payoff.

  • Vested Portion means, at any time, the portion of an Option which has become vested, as described in Section 3 of this Agreement.

  • Replacement Option has the meaning ascribed thereto in Section 2.2(c).

  • Replacement Price means the price, determined by Buyer in a commercially reasonable manner, at which Buyer purchases (if at all) substitute SRECs having the same or subsequent Reporting Year as those SRECs not delivered by Seller for the deficiency or, absent such a purchase, the Market Price for such quantity of SRECs at or during the time that Seller fails to deliver the SRECs, provided that the Market Price shall never exceed the solar alternative compliance payment.

  • Base Year Value means the assessed value of eligible property January 1 preceding the execution of the agreement plus the agreed upon value of eligible property improvements made after January 1 but before the execution of the agreement.

  • Aggregate Option Exercise Price means, as of any date of determination, the sum of the exercise prices payable upon exercise in full of all Vested Options held by all Optionholders immediately prior to the Effective Time, based on the Estimated Merger Consideration or the Final Adjusted Merger Consideration, as applicable.

  • Grant Amount or “Grant” means the total amount of financial assistance disbursed under this Agreement, which consists of the City's Amount and the Consultant’s Amount.

  • Exchange Price means as of any date, $1,000, divided by the Exchange Rate as of such date.

  • Maximum Basic Grant Amount’ has the same meaning as set out in item 1 of Schedule 1 of HESA;

  • Exchange Property has the meaning set forth in Section 11(a).

  • Share Premium Account means the share premium account established in accordance with these Articles and the Companies Act;

  • Book Value Per Share is the Bank’s equity capital (excluding FAS 115 and FAS 158 adjustment and Extraordinary Items) at the end of the Plan Year divided by the Plan’s number of Phantom shares of one million three hundred sixty thousand (1,360,000).

  • Option Consideration has the meaning set forth in Section 3.3(a).

  • Premises Building Total Destruction means if the Building of which the Premises are a part is damaged or destroyed to the extent that the cost to repair is fifty percent (50%) or more of the then Replacement Cost of the Building.

  • certificated share means a share which is not an uncertificated share and references in these articles to a share being held in certificated form shall be construed accordingly;