A life insurance policy definition

A life insurance policy means a contract under which the insurer agrees to pay a specified amount to a designated beneficiary upon the death of the insured.
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Examples of A life insurance policy in a sentence

  • A life insurance policy provides for the payment of $82,500 in a lump sum to the beneficiary, A, at the death of the in- sured.

  • A life insurance policy provides only for the payment of $5,000 per year for the life of the beneficiary, A, beginning with the insured’s death.

  • A life insurance policy may not be impaired or invalidated in any manner by the exercise of a health care decision by a health care agent on behalf of a person whose life is insured under the policy and who has authorized the health care agent under ch.

  • A life insurance policy is afforded to full-time employees beginning on the first day of employment, unless specified differently in a collective bargaining agreement.

  • A life insurance policy that funds long term care benefits entirely by accelerating the death benefit is considered to provide reasonable benefits in relation to premium paid, if the policy complies with all of the following provisions: (1) The interest credited internally to determine cash value accumulations, including long term care, if any, is guaranteed to be no less than the minimum guaranteed interest rate for cash value accumulations without long term care set forth in the policy.

  • A life insurance policy can be repudiated within three (3) years on the ground that any statement of or suppression of a fact material to expectancy of life of the insured was incorrectly made in the proposal or other document basis which policy was issued or revived or rider issued.

  • A life insurance policy of $50,000 with a permanent total disability benefit provision, subject to the conditions and provisions of said policy, shall be provided for all employees covered by this CBA the full premium cost of which shall be paid for by MUNI.

  • A life insurance policy includes any type of policy, including a second-to-die policy, provided that the holding of a particular type of policy is not prohibited under rules applicable to qualified plans.

  • A life insurance policy or contract is assigned to a bank, savings bank, savings and loan association, credit union, or other licensed lending institution as collateral for a loan.

  • A life insurance policy shall be provided for each full-time employee during the period of full-time employment in the amount of thirty thousand ($30,000) dollars, plus accidental death and dismemberment provisions.

Related to A life insurance policy

  • Life Insurance Policy has the meaning given in Section 6.11.

  • 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.

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

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

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

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

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

  • life insurance business means the business of providing or undertaking to provide policy benefits under life policies;

  • Insurance Policies has the meaning set forth in Section 3.16.

  • Reimbursement insurance policy means a policy of insurance

  • 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;

  • 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.

  • Title Insurance Policy A title insurance policy maintained with respect to a Mortgage Loan.

  • Bond Insurance Policy means the municipal bond new issue insurance policy issued by the Bond Insurer that guarantees payment of principal of and interest on the Bonds.

  • 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.

  • Health insurance policy means a policy that provides specified benefits for hospital and/or general treatment and meets all requirements under section 63-10 of the Private Health Insurance Act 2007.

  • 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.

  • Special Primary Insurance Policy Any Primary Insurance Policy covering a Mortgage Loan the premium of which is payable by the Trustee pursuant to Section 4.04(a), if so identified in the Mortgage Loan Schedule. There are no Special Primary Insurance Policies with respect to any of the Mortgage Loans.

  • Hazard Insurance Policy means, with respect to each Contract, the policy of fire and extended coverage insurance (and federal flood insurance, if the Manufactured Home is secured by an FHA/VA Contract and such Manufactured Home is located in a federally designated special flood area) required to be maintained for the related Manufactured Home, as provided in Section 5.09, and which, as provided in said Section 5.09, may be a blanket mortgage impairment policy maintained by the Servicer in accordance with the terms and conditions of said Section 5.09.

  • Company Insurance Policies has the meaning set forth in Section 3.14.

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

  • 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.

  • 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.

  • Required Insurance Policy With respect to any Mortgage Loan, any insurance policy that is required to be maintained from time to time under this Agreement.

  • D&O Liability Insurance Policies means all insurance policies (including any “tail policy”) of any of the Debtors for liability of any current or former directors, managers, officers, and members.

  • Primary Insurance Policy Each policy of primary mortgage guaranty insurance or any replacement policy therefor with respect to any Mortgage Loan.