Variable life insurance contract definition

Variable life insurance contract means a contract of life insurance, sub- ject to regulation under the insurance laws or code of every jurisdiction in which it is offered, funded by a sepa- rate account of a life insurer, which contract, so long as payments are duly paid in accordance with its terms, pro- vides for:
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Variable life insurance contract or “Contract” means a life insurance contract that provides for death benefits and cash values that may vary with the investment experience of any separate account. Unless the context otherwise requires, “Variable Life Insurance Contract” or “Contract” refers to the Variable Life Insurance Contracts being offered pursuant to the registration statement prepared on this Form.
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Variable life insurance contract means a contract of insurance that is within the class of life insurance for which all or part of the insurer’s liability under the contract, and the reserves for the liability, vary in amount depending on the market value of a specific group of assets. (« contrat d'assurance-vie à prestations variables »)
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Examples of Variable life insurance contract in a sentence

  • Policy Loans Variable life insurance contract owners (policyholders) may obtain loans from the Company.


More Definitions of Variable life insurance contract

Variable life insurance contract means a contract of life insurance, sub­ ject to regulation under the insurance laws or code of every jurisdiction in which it is offered, issued by a separate account of a life insurer, which contract, so long as premiums are paid when due in accordance with its terms, provides for:
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Variable life insurance contract. ’ or ‘‘Contract’’ means a life insurance contract that provides for death benefits and cash values
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Related to Variable life insurance contract

  • 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.

  • 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.

  • Annuity means a stated sum payable periodically at stated times during life or during a specified or ascertainable period of time under an obligation to make the payments in return for adequate and full consideration in money or money's worth.

  • 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:

  • 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.

  • 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;

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