Surrender Benefits Sample Clauses

Surrender Benefits. The Reinsurer shall pay the Company the surrender value paid by the Company pursuant to any Policy surrendered, times the Quota Share Percentage Reinsured, as set out in Schedule B, “Reinsurance Basis”.
Sample 1Sample 2Sample 3
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Surrender Benefits. This Policy shall acquire a Surrender Value provided all the due Instalment Premiums for the first two Policy Years have been received by Us. The Policyholder can Surrender the Policy any time before the end of Policy Term. The Policy will terminate after payment of the Surrender Value and thereafter no other benefits under this Policy shall be payable. The Surrender Value payable will be equal to the higher of Guaranteed Surrender Value and Special Surrender Value. Where, Year of Surrender Policy Term 1 0% 0% 0% 2 30% 30% 30% 3 35% 35% 35% 4 50% 50% 50% 5 50% 50% 50% 6 90% 50% 50% 7 90% 50% 50% 8 90% 57% 9 90% 63% 10 70% 11 77% 12 90% 13 90% Guaranteed Surrender Value (GSV) shall be a percentage of Total Premiums Paid. GSV Factors as a percentage of Total Premiums Paid are given below: Your Policy also acquires a Special Surrender Value (SSV). Special Surrender Value is not guaranteed and may be revised by the Company from time to time. Any change in method/ formula for calculating the SSV is subject to prior approval from the Authority.
Sample 1Sample 2
Surrender Benefits. This Policy shall acquire a Surrender Value provided all the due Instalment Premiums for the first two Policy Years have been received by Us. The Policyholder can Surrender the Policy any time before the end of Policy Term. The Policy will terminate after payment of the Surrender Value and thereafter no other benefits under this Policy shall be payable. The Surrender Value payable will be equal to the higher of Guaranteed Surrender Value and Special Surrender Value. Where, Year of Surrender Policy Term 1 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 2 30% 30% 30% 30% 30% 30% 30% 30% 30% 30% 30% 30% 30% 3 35% 35% 35% 35% 35% 35% 35% 35% 35% 35% 35% 35% 35% 4 90% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 5 90% 90% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 6 90% 90% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 7 90% 90% 50% 50% 50% 50% 50% 50% 50% 50% 50% 8 90% 90% 63% 60% 58% 57% 56% 55% 54% 54% 9 90% 90% 70% 66% 63% 61% 60% 59% 58% 10 90% 90% 74% 70% 67% 65% 63% 62% 11 90% 90% 77% 73% 70% 68% 66% 12 90% 90% 79% 75% 72% 70% 13 90% 90% 80% 77% 74% 14 90% 90% 81% 78% 15 90% 90% 82% 16 90% 90% 17 90% Guaranteed Surrender Value (GSV) shall be a percentage of Total Premiums Paid. GSV Factors as a percentage of Total Premiums Paid are given below: Your Policy also acquires a Special Surrender Value (SSV). Special Surrender Value is not guaranteed and may be revised by the Company from time to time. Any change in method/ formula for calculating the SSV is subject to prior approval from the Authority.
Sample 1

Related to Surrender Benefits

  • Other Benefits During the Term, the Executive shall be eligible to participate in or receive benefits under the Company’s employee benefit plans in effect from time to time, subject to the terms of such plans.

  • Entitlement to Other Benefits Except as expressly provided herein, this Agreement shall not be construed as limiting in any way any rights or benefits the Employee, his spouse, dependents or beneficiaries may have pursuant to any other employee benefits plans or programs.

  • Severance Compensation and Benefits Not in Derogation of Other Benefits Anything to the contrary herein contained notwithstanding, the payment or obligation to pay any monies, or granting of any benefits, rights or privileges to Executive as provided in this Agreement shall not be in lieu or derogation of the rights and privileges that the Executive now has or will have under any plans or programs of or agreements with the Company, except that if the Executive received any payment hereunder, the Executive shall not be entitled to any payment under the Company’s severance policy for officers and directors.

  • Relation to Other Benefits Any economic or other benefit to the Grantee under this Agreement or the Plan shall not be taken into account in determining any benefits to which the Grantee may be entitled under any profit-sharing, retirement or other benefit or compensation plan maintained by the Company or any of its Subsidiaries and shall not affect the amount of any life insurance coverage available to any beneficiary under any life insurance plan covering employees of the Company or any of its Subsidiaries.

  • Severance Payments; Salary and Benefits The Company agrees to provide Employee with the severance payments and benefits described in Section 4(b) of the Employment Agreement, payable at the times set forth in, and subject to the terms and conditions of, the Employment Agreement. In addition, to the extent not already paid, and subject to the terms and conditions of the Employment Agreement, the Company shall pay or provide to Employee all other payments or benefits described in Section 3(c) of the Employment Agreement, subject to and in accordance with the terms thereof.

  • Regular Benefits The Executive shall also be entitled to participate in any and all employee benefit plans, medical insurance plans, life insurance plans, disability income plans, retirement plans, bonus incentive plans and other benefit plans from time to time in effect for senior executives of the Employer. Such participation shall be subject to (i) the terms of the applicable plan documents, (ii) generally applicable policies of the Employer and (iii) the discretion of the Board of Directors of the Employer or any administrative or other committee provided for in or contemplated by such plan.

  • Severance Payments and Benefits For purposes of this Agreement, the term "Severance Payments and Benefits" shall mean:

  • Cash Severance Benefits Severance equal to the amount set forth in the Participant’s Participation Agreement and payable in cash in a lump sum in accordance with the terms and conditions of this Plan, including without limitation Section 7 hereof.

  • Termination Benefits (a) If Executive’s employment is voluntarily (in accordance with Section 2(a) of this Agreement) or involuntarily terminated within two (2) years of a Change in Control, Executive shall receive:

  • Change of Control Severance Benefits A Covered Termination of Executive’s employment on or within twelve (12) months following the effective date of a Change of Control entitles Executive to receive the benefits set forth in this Section 3.2.

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