Whole life insurance definition

Whole life insurance means an insurance policy that applies part of the premium payments to build CSV for the policy owner.
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Whole life insurance means a type of policy that provides coverage if the insured lives to or dies at 90 or over 90 within the takaful contract term and this shall include increase in benefits in the case of death and/or increase or decrease in benefits if the insured is alive (pure endowment), but excluding annuity benefits;
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Whole life insurance means an insurance product for cases where the insured person dies at any time whatsoever throughout the course of that person's life.
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Examples of Whole life insurance in a sentence

  • V85-02-3A PAGE 3A POLICY INFORMATION CONTINUED TABLE OF NET SINGLE PREMIUMS For $1.00 of Variable Adjustment Amount or Paid-Up Whole Life Insurance.

  • The Company further agrees to maintain a Whole Life Insurance Policy in the amount of $500,000 on the life of Xxxxx, who shall have the right to designate the beneficiaries and the owner or owners of that policy.

  • However, the amount of insurance will in no event be less than the amount of Paid-up Whole Life Insurance that could be bought on the basis of the Table of Net Single Premiums on page 3B by the cash value at the Insured's death.

  • Whole Life Insurance contracts are contracts with both non-decreasing death benefits and non-increasing premiums.

  • WHOLE LIFE INSURANCE Complete this section for Whole Life Insurance ------------------------------------------------------------------------------------------------------------------------------- [ a.

  • The Company shall purchase and provide Employee with a $2,000,000.00 Whole Life Insurance policy on the life of Employee, payable to Employee's designated beneficiaries.

  • A Participant may not earmark more than forty-nine (49) percent of the aggregate Employer Contribution to purchase Whole Life Insurance, or more than twenty-four (24) percent into Life Insurance which is not Whole Life Insurance reduced by one-half of the contribution earmarked to purchase Whole Insurance.

  • Group Life Insurance of $50,000 (including AD&D) Supplemental Whole Life Insurance of $1,000,000 (assuming the Executive is insurable).

  • Policy Form Schedule Individual Whole Life Insurance Policies issued by the REINSURED to become effective prior to December 1, 1986 which are classified by the REINSURED as plan codes 10000 , 10004 and 10006 Replacements, exchanges and reinstatements of the policies shall be coinsured under this agreement without ceding commission but subject to both the expense commission indicated in Article VI, and the provisional commission allowance indicated in Article VII.

  • The product of the Net Single Premium on that date per $1,000 of Paid-Up Whole Life Insurance as shown on page 3B, and the Variable Reduced Paid-Up Face Amount defined in the provision entitled "Options on Lapse".


More Definitions of Whole life insurance

Whole life insurance. The specific functionality of this Data File shall include the following:
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Related to Whole life insurance

  • 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 Policy has the meaning given in Section 6.10.

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

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

  • 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.

  • 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;

  • 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:

  • group insurance means insurance, other than creditor’s group insurance and family insurance, whereby the lives of a number of persons are insured severally under a single contract between an insurer and an employer or other person; (“assurance collective”)

  • 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.

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

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

  • 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.

  • Sponsored captive insurance company means a captive insurance company:

  • 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.

  • Insurance premium finance company means a person engaged in the business of

  • R&W Insurance Policy means the representations and warranties insurance policy issued to Buyer in connection with the transactions contemplated hereby.

  • Insurance Amount has the meaning set forth in Section 6.08(c).

  • 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.

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

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

  • Standard Hazard Insurance Policy means a fire and casualty extended coverage insurance policy in such amount and with such coverage as required by this Agreement.

  • Certificate Insurance Policy The Certificate Guaranty Insurance Policy No. AB1094BE, dated the Closing Date, including any endorsements thereto issued by the Certificate Insurer to the Trustee for the benefit of the Holders of the Insured Certificates, a form of which is attached as Exhibit L hereto.

  • 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.

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

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