Target Premium Clause Samples
The Target Premium clause defines the specific premium amount that a policyholder is expected to pay for an insurance policy, typically on a scheduled basis. In practice, this clause sets a benchmark for premium payments, which may be used to determine policy benefits, maintain coverage, or trigger certain policy features. By clearly establishing the expected premium, the clause helps ensure both parties understand their financial obligations and supports the ongoing validity of the insurance contract.
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Target Premium. The target premium is an annual amount determined from -------------- tables published by SECURITY LIFE with respect to a policy or rider upon which commissions are based. As it applies to future business, the target premium may be changed from time to time by SECURITY LIFE. The target premium applicable to a particular coverage shall be determined from the table in force when the first premium for such coverage is entered as paid in the accounting records of SECURITY LIFE.
Target Premium. The Target Premium is the maximum amount of premium to which the first year commission rate applies. Commissions paid on premiums received in excess of the Target Premium are paid at the excess rate. The Target Premium is an amount calculated in accordance with the method of calculation and rates from the USL Target Premium schedules. USL may change the Target Premium schedules from time to time. The Target Premium applicable to a particular coverage shall be determined from the schedule in force when the first premium for such coverage is entered as paid in accounting records of USL.
Target Premium. The “Target Premium” (also sometimes referred to as “Commission Target”) is an amount determined from tables published by PL&A with respect to a policy or rider upon which commission is based. Target Premium shall be calculated in accordance with rates and methods of calculation described in the Rates and Values Book for the Product. As it applies to future business, the Target Premium may be changed from time to time by PL&A. The Target Premium applicable to a particular coverage will be determined from the table in force when the first premium for such coverage is entered as paid in the accounting records of PL&A.
Target Premium. The “target premium” is an amount determined from tables published by Pacific Life & Annuity (PL&A) with respect to a policy or rider upon which commission is based. As it applies to future business, the target premium may be changed from time to time by PL&A. The target premium applicable to a particular coverage will be determined from the table in force when the first premium for such coverage is entered as paid in the accounting records of PL&A.
Target Premium. The target premium is an amount determined from tables published by Pacific Mutual with respect to a policy or rider upon which commissions are based. Target premiums shall be calculated in accordance with the rates and methods of calculations described in the Pacific Select Exec Rates and