Variable life insurance definition

Variable life insurance means an insurance policy that provides for life insurance, the amount or duration of which varies according to the investment experience of one or more separate accounts that are established and maintained by the insurer pursuant to Title 31A, Insurance Code.
Variable life insurance means an insurance policy that provides for life
Variable life insurance means a separate account life insurance policy or contract

Examples of Variable life insurance in a sentence

  • Variable life insurance under which the death benefits and cash values vary in accordance with unit values of investments held in a separate account.15.4(3) Prior to or at delivery of a life insurance policy, an insurer or producer shall provide the prospective purchaser the following:a.

  • Variable life insurance contracts, forms and information folders 111.

  • Variable life insurance policies and variable annuities may also offer a fixed investment account which is guaranteed by the insurance company.

  • Variable life insurance policies have significant tax advantages under current tax law.

  • Variable life insurance policies delivered or issued for delivery in this state shall comply with the following minimum requirements.

  • Variable life insurance policies are not designed for frequent trading (i.e., transfers) in response to short-term fluctuations in the securities markets, often referred to generally as "market-timing." It is the policy of Minnesota Life to discourage market-timing and frequent transfer activity, and, when we become aware of such activity, to take steps to attempt to minimize the effect of frequent trading activity.

  • Variable life insurance" means an insurance policy that provides for life insurance, the amount or duration of which varies according to the investment experience of one or more separate accounts that are established and maintained by the insurer pursuant to Title 31A, Insurance Code.

  • Variable life insurance products use a formula that applies a weighted average credited rate to the mean account value.

  • Variable life insurance policies are a “variable product,” and a different Insurance Commissioner regulation requires “brokers and agents selling variable products [to] comply with suitability standards.” (Cal.

  • Variable life insurance sales material, advertising material, and descriptive literature shall be subject to the additional requirements of 191—Chapter 15.33.3(5) Requirements applicable to contractual services.

Related to Variable life insurance

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

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

  • Life Insured means the person named in the Schedule, on whose life the Policy is effected;

  • Life insurance producer means any person licensed in this state as a resident or nonresident insurance producer who has received qualification or authority for life insurance coverage or a life line of coverage pursuant to chapter 522B.

  • variable insurance contract means a contract of life insurance under which the interest of the purchaser is valued for purposes of conversion or surrender by reference to the value of a proportionate interest in a specified portfolio of assets.

  • Credit life insurance means insurance on the life of a debtor in connection with

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

  • policy of life insurance means any instrument by which the payment of money is assured on death (except death by accident only) or the happening of any contingency dependent on human life, or any instrument evidencing a contract which is subject to payment of premiums for a term dependent on human life;

  • 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.

  • 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:

  • Variable Account means the account established for a member who participates in the

  • Cash Value Insurance Contract means an Insurance Contract (other than an indemnity reinsurance contract between two insurance companies) that has a Cash Value greater than $50,000.

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

  • Long-term care insurance means group insurance that is authorized by the retirement system for retirants, retirement allowance beneficiaries, and health insurance dependents, as that term is defined in section 91, to cover the costs of services provided to retirants, retirement allowance beneficiaries, and health insurance dependents, from nursing homes, assisted living facilities, home health care providers, adult day care providers, and other similar service providers.

  • 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.

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

  • Sponsored captive insurance company means a captive insurance company:

  • Co-insurance means the percentage of the usual, reasonable, customary, and fair market value expense that a covered person must pay.

  • Mortgage Insurance means insurance protecting Lender against the nonpayment of, or default on, the Loan.

  • life policy means a contract in terms of which a person, in return for a premium, undertakes to -

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

  • Accidental death and dismemberment insurance or "AD&D" means basic accidental death and dismemberment (AD&D) insurance paid for by the employing agency, as well as supplemental accidental death and dismemberment insurance offered to and paid for by employees for them- selves and their dependents.

  • Medical flexible spending arrangement or "medical FSA" means a benefit plan whereby eligible state employees may reduce their salary before taxes to pay for medical expenses not reimbursed by insurance as provided in the salary reduction plan established under chapter

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

  • Captive insurance company means any pure captive insurance company, association captive

  • Investment Plan means the document in terms of which the special purpose vehicle will invest in unlisted investments and all matters incidental thereto;