Installment Premium definition

Installment Premium means the amount stipulated in the Schedule and paid at regular intervals (yearly/half yearly/quarterly or monthly mode as shall be applicable) by the Policyholder as consideration for acceptance of risk and benefits specified as such in the Policy Document

Installment Premium means the premium amount specified in the Schedule which is payable under this Policy at the frequency and in the modes specified in the Schedule.

Installment Premium means the premium payable yearly, half yearly, quarterly or monthly for the Base Policy and Rider (s) coverage if any depending on the mode of payment opted by the policy holder.

Examples of Installment Premium in a sentence

• Policy Installment Premium shall be deemed to have been paid only when received and realized by the Company.

• Change in Premium Frequency shall result in a change in the Policy Installment Premium.

• However, where the Installment Premium due in one financial year is being collected in advance in earlier financial year, We will accept the same for a maximum period of 3 months in advance of the due date of that Instalment Premium.

• Installment Premium that is not received in full by Us by its due date may be paid in full during the Grace Period.

• This is equal to 15.8782 times Installment Premium as specified in the Schedule if the payout option chosen is Annual income as specified in the Schedule or 184.4113 times Installment Premium as specified in the Schedule if the payout option chosen is Monthly income as specified in the Schedule.

More Definitions of Installment Premium

Installment Premium means the premium payable yearly, half yearly, quarterly or monthly under the policy depending on the mode of payment opted by the policyholder.

Installment Premium has the meaning set forth in Article 6.A.

Installment Premium means the amount stipulated in the Policy Schedule and which is to be paid at the regular intervals (Premium Frequency) specified in the Policy Schedule by you as consideration for acceptance of risk and Benefits specified as such in the Policy Document. The Policy Schedule will specify if Instalment Premium is payable.

Installment Premium is the premium as payable by you as per the Policy Schedule throughout the Premium Paying Term to effect and continue this policy contract.

Installment Premium means the premium paid by the policyholder at the time of inception of policy as Single Premium..

Installment Premium means the premium payable yearly, half yearly, quarterly or monthly for the Base Policy and Rider (s) coverage if any depending on the mode of payment opted by the policy holder. “life assured” means the person on whose life insurance/rider cover is granted. “maturity date” means the date on which the risk cover ceases and benefits available become payable in terms of the policy except in case where death of the life assured occurs prior to the said date.

Installment Premium means the amount stipulated in the Schedule which is payable at the specified regular intervals (yearly/half yearly/ or monthly mode as shall be applicable) by you for the chosen Premium Payment Term as consideration for acceptance of risk and Benefits specified as such in the Policy Document