Commissionable Premium definition

Commissionable Premium means with respect to each Subject Policy, the total, gross amount of all premiums and other sums paid by the policyholder during each Policy Year that such policy is in force during such policy’s level premium period (including, for the avoidance of doubt, for Settlement Periods after the Funding Termination Date), minus policy fees not exceeding $65.00 per policy per Policy Year. Commissionable Premium shall not be reduced by any Initial Amount Offsets that are payable or that have been paid.
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Examples of Commissionable Premium in a sentence

  • Individual Life insurance will be split based upon the “Annualized Target Premium” (aka Commissionable Target Premium, Target Premium, or Commissionable Premium); for term cases, that means the annual amount of premium the client pays (sometimes minus a policy fee).

  • The Contractor is responsible for any amounts distributed by an applicable Carrier in Commissionable Premium that are unearned by the Contractor when distributed (“Unearned Commissionable Premiums”).

  • The "Excess Premium" rate will be applied to any premiums received in excess of the Commissionable Premium corresponding to $1,000,000 of Specified Amount.

  • The Commissionable Premium payments will be made directly by the Carriers to the Contractor.

  • For conversion to Universal Life, exercised without evidence of insurability, of any term insurance which was originally issued by a company other than Lincoln National Life, the Commissionable Premium rate will apply only to the first $1,000,000 of Specified Amount for the Universal Life policy.

  • American Legacy Variable Life Commissions to Dealers ----------------------------- ---------------------- All Individual Policies First Year: Sold by Dealers ----------- 80% of Commissionable Premium (as specified in product rate book for American Legacy Variable Life) plus 3.00% of excess premium.

  • The calculation for this commission is Commission Rate % multiplied by Commissionable Premium, multiplied again by the number of months advanced, less the admin fee.

  • The Commissionable Premium payments will be made directly by the insurance carriers to Contractor.

  • The funding of the Incremental Term Loans on the Incremental Effective Date shall be consummated at a closing to be held at the offices of Cravath, Swaine & ▇▇▇▇▇ LLP, or at such other place as the US Borrower and the Administrative Agent shall agree upon.

  • Advance Recovery is calculated by Commission Rate % multiplied by Commissionable Premium received.

Related to Commissionable Premium

  • Applicable Premium means, with respect to any Note on any Redemption Date, the greater of:

  • Single Premium means the amount payable by the Policyholder at the Policy Commencement Date, as per the amount specified in the Schedule.

  • Reasonable payment means, with respect to professional and other technical services, a payment in an amount that is consistent with the amount normally paid for such services in the private sector.

  • Applicable Prepayment Premium has the meaning specified therefor in the Fee Letter.

  • Make-Whole Premium means, with respect to a Note at any redemption date, the greater of: