COST OF INSURANCE RATES definition

COST OF INSURANCE RATES. A separate monthly cost of insurance rate is used to obtain the monthly cost of insurance for the Insured's initial Specified Amount and each increase in Specified Amount. Each rate is based on the Insured's Issue Age, sex, underwriting class, and any substandard rating at the time the initial Specified Amount was issued, or increase took effect, and on the duration since that time. Monthly cost of insurance rates will be determined by us from time to time, based on our expectations as to future experience. Any change in cost of insurance rates will be on a uniform basis for Insureds of the same Issue Age, sex, underwriting class, and any substandard rating whose policies have been in force for the same length of time. These rates will never be greater than the Guaranteed Maximum Monthly Cost of Insurance Rates shown on the Policy Data Page. The basis for these Guaranteed Maximum Cost of Insurance Rates is shown in the Basis of Computation on the Policy Data Page.
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COST OF INSURANCE RATES. The monthly cost of insurance rate is used to obtain the monthly cost of insurance for the Insured's Specified Amount. The rate is based on the Insured's Attained Age, sex, and underwriting class. Monthly cost of insurance rates will be determined, by us from time to time, based on our expectations as to future experience. Any change in cost of insurance rates will be on a uniform basis for Insureds of the same Attained Age, sex, and underwriting class whose policies have been in force for the same length of time. These rates will never be greater than the guaranteed maximum monthly cost of insurance rates shown on the Policy Data Page. The basis for these guaranteed maximum cost of insurance rates is shown in the Basis of Computation on the Policy Data Page.
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COST OF INSURANCE RATES. A separate monthly cost of insurance rate is used to obtain the monthly cost of insurance for the initial Specified Amount and each increase in Specified Amount. Each rate is based on the age, sex, underwriting class, and any substandard rating of each Insured at the time the initial Specified Amount was issued or increase took effect, and on the duration since that time. These rates will never be greater than the guaranteed maximum monthly cost of insurance rates shown on the Policy Data Page. The basis for these guaranteed maximum cost of insurance rates is shown in the Basis of Computation on the Policy Data Pages.
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Examples of COST OF INSURANCE RATES in a sentence

  • THE MONTHLY COST OF INSURANCE RATES WILL NEVER EXCEED THE RATES SHOWN ON THE TABLE OF GUARANTEED MONTHLY COST OF INSURANCE RATES PAGE.

  • ALTHOUGH THE REINSURER ANTICIPATES CONTINUING TO ACCEPT REINSURANCE PREMIUMS AT THE CURRENT LEVEL, THE REINSURER RESERVES THE RIGHT TO INCREASE THE YRT REINSURANCE RATES, AS DEFINED IN EXHIBIT III, BUT ONLY WHEN THE CEDING COMPANY INCREASES THE COST OF INSURANCE RATES OR POLICY CHARGES TO THE POLICY OWNER.

  • THE CEDING COMPANY WILL PROVIDE THE REINSURER WITH THIRTY (30) DAYS' ADVANCE WRITTEN NOTICE OF ANY INCREASES IN THE COST OF INSURANCE RATES OR POLICY CHARGES.

  • IF THE REINSURER INCREASES ITS PREMIUM RATES OVER AND ABOVE THE PROPORTIONATE INCREASE BY THE CEDING COMPANY TO THE POLICYOWNERS'S COST OF INSURANCE RATES OR POLICY CHARGES, THE CEDING COMPANY RESERVES THE RIGHT TO RECAPTURE AFFECTED BUSINESS WITH NO RECAPTURE FEE.

  • THE MONTHLY COST OF INSURANCE CHARGE AND COST OF INSURANCE RATES ARE DESCRIBED IN SECTION 8 OF THE POLICY.

  • For the initial specified amount, the cost of insurance rates will not exceed those shown on the SCHEDULE OF GUARANTEED ANNUAL COST OF INSURANCE RATES in the schedule pages.

  • COST OF INSURANCE RATES The monthly cost of insurance rates for the accidental death benefit are based on the attained age and risk class of the Insured.

  • Motion Carried 5-0-0 Chairman Alton Grover motioned, seconded by Martha Marchut, to enter back into the main meeting at 7:35pm.

  • THE MAXIMUM COST OF INSURANCE RATES DO NOT EXCEED THE COST OF INSURANCE RATES BASED ON THE 1980 COMMISSIONERS STANDARD ORDINARY SMOKER OR NONSMOKER MORTALITY TABLE, AGE LAST BIRTHDAY.

  • Dur- ing the hearing, the following witnesses testified on matters in- cluded in H.R. 2088: • Mr. David M.


More Definitions of COST OF INSURANCE RATES

COST OF INSURANCE RATES. The monthly Cost of Insurance Rate is based on the sex, Issue Age, duration and rate class of the Insured and on the number of years that a Policy has been in force. For each Face Amount increase, we will use the Issue Age, sex, rate class and duration of this Policy at the time of the request. We will determine monthly cost of insurance rates, based on our expectations as to future investment earnings, mortality, persistency, taxes, expenses and other relevant factors. Any change in the monthly Cost of Insurance Rates will be by class and based on expectations of future investment earnings, mortality, persistency, taxes, expenses and other relevant factors. However, the Cost of Insurance Rates will never be greater than those shown in the Guaranteed Maximum Monthly Cost of Insurance Rates Table on the Policy Schedule. Changes in Policy Cost Factors: Changes in non-guaranteed credited rates, Cost of Insurance Charge rates, Mortality and Expense Risk Charge rates, administration charge rates, or expense charge rates, if any, will be by class and will be based upon changes in future expectations of such factors as investment earnings, mortality, persistency, expenses, and taxes. Minimum Values: The values and benefits of this Policy will not be less than the minimum benefits required by the National Association of Insurance Commissioners Variable Life Insurance Regulation, model #270 using Actuarial Guideline XXIV. The method of computing minimum required values has been filed with the Interstate Insurance Product Regulation Commission.
Sample 1
COST OF INSURANCE RATES. The monthly Cost of Insurance Rate is based on the sex, Issue Age, duration and rate class of the Insured and on the number of years that a Policy has been in force. For each Face Amount increase, we will use the Issue Age, sex, and rate class of the Insured and duration of this Policy at the time of the request. We will determine monthly cost of insurance rates, based on our expectations as to future investment earnings, mortality, persistency, taxes, expenses and other relevant factors. Any change in the monthly Cost of Insurance Rates will be by class and based on expectations of future investment earnings, mortality, persistency, taxes, expenses and other relevant factors. However, the Cost of Insurance Rates will never be greater than those shown in the Guaranteed Maximum Monthly Cost of Insurance Rates Table on the Policy Schedule. Changes in Policy Cost Factors: Changes in non-guaranteed credited rates, Cost of Insurance Charge rates, Mortality and Expense Risk Charge rates, administration charge rates, or expense charge rates, if any, will be by class and will be based upon changes in future expectations of such factors as investment earnings, mortality, persistency, expenses, and taxes.
Sample 1
COST OF INSURANCE RATES. The monthly Cost of Insurance Rate is based on the sex, Issue Age, duration and rate class of the Insured and on the number of years that a Policy has been in force. For each Face Amount increase, we will use the Issue Age, sex, rate class and duration of this Policy at the time of the request. We will determine monthly cost of insurance rates, based on our expectations as to future investment earnings, mortality, persistency, taxes, expenses and other relevant factors. Any change in the monthly Cost of Insurance Rates will be by class and based on expectations of future investment earnings, mortality, persistency, taxes, expenses and other relevant factors. However, the Cost of Insurance Rates will never be greater than those shown in the Guaranteed Maximum Monthly Cost of Insurance Rates Table on the Policy Schedule.
Sample 1
COST OF INSURANCE RATES. A separate monthly cost of insurance rate is used to obtain the monthly cost of insurance for the Insured's initial Specified Amount and each increase in Specified Amount. Each rate is based on the Insured's Issue Age, sex, underwriting class, and any substandard rating at the time the initial Specified Amount was issued, or increase took effect, and on the duration since that time. It is possible for a different rate class to apply to the Insured's initial Specified Amount and each increase in Specified Amount. A description of the allocation of how the net amount at risk is allocated among the initial Specified Amount and each increase in Specified Amount is provided in the Monthly Cost of Insurance section of this policy. A statement on allocation of net amount at risk is contained in the actuarial memorandum filed with the Insurance Department of the state in which this policy was delivered. A portion of the cost of insurance is used to provide for acquisition expense arising from issue of the policy. These expenses tend to be higher in early policy years. These rates will never be greater than the Guaranteed Maximum Monthly Cost of Insurance Rates shown on the Policy Data Page. The basis for these Guaranteed Maximum Cost of Insurance Rates is shown in the Basis of Computation on the Policy Data Page.
Sample 1

Related to COST OF INSURANCE RATES

  • Flood Insurance Rate Map means the most recent flood hazard map published by the Federal Emergency Management Agency under the National Flood Insurance Act of 1968 (42 U.S.C. Section 4001 et seq.).

  • Period of Insurance means the period commencing from the retroactive date and terminating on the expiry date as shown in the Policy Schedule.

  • Insurance Fee Rate With respect to each Mortgage Loan insured by an Insurance Policy paid for by the lender, the per annum rate specified in the Mortgage Loan Schedule.

  • Type of insurance means coverage afforded under the particular policy that is being placed.

  • Flood Insurance Rate Map (FIRM means the official map on which the Federal Insurance Administration has delineated both the areas of special flood hazards and the risk premium zones applicable to the community.

  • contract of insurance means an agreement between the Secretary of Education and either the Trustee or the Seller providing for the insurance by the Secretary of Education of the principal of and accrued interest on a FFELP Loan to the maximum extent permitted under the Higher Education Act.

  • Federal Flood Insurance means federally backed Flood Insurance available under the National Flood Insurance Program to owners of real property improvements located in Special Flood Hazard Areas in a community participating in the National Flood Insurance Program.

  • Insurance score means a number or rating that is derived from an algorithm, computer application, model, or other process that is based in whole or in part on credit information for the purposes of predicting the future insurance loss exposure of a consumer.

  • insurance period means a contribution period or an equivalent period;

  • Insurance Report means an insurance report in respect of the Insurances confirming that such Insurances are placed with such insurers, insurance companies and/or clubs in such amounts, against such risks and in such form as acceptable to the Agent (acting on the instructions from the Finance Parties) and comply with the requirements under Clause 26.3 (Insurance) and the GIEK Guarantee prepared by Bank Assure Insurance Services Inc., or such other reputable insurance advisor approved by the Agent, and dated on or about the date of this Agreement and addressed to, and capable of being relied upon by, the Finance Parties.

  • Insurance Rent the sums described in paragraph 1.1 of Schedule 4; “Insured Risks” the risks of fire (including subterranean fire), lightning, explosion, storm, flood, subsidence, landslip, heave, earthquake, burst or overflowing water pipes, tanks or apparatus, impact by aircraft or other aerial devices and any articles dropped from them, impact by vehicles, terrorism, riot, civil commotion and malicious damage to the extent, in each case, that cover is generally available on normal commercial terms in the UK insurance market at the time the insurance is taken out, and any other risks against which the Landlord reasonably insures from time to time, subject in all cases to any excesses, limitations and exclusions imposed by the insurers;20

  • Lender-Paid Mortgage Insurance Rate With respect to any Lender-Paid Mortgage Insurance Loan, a per annum rate equal to the percentage indicated on the Mortgage Loan Schedule under the heading "Lender-Paid Mortgage Insurance Rate."

  • Support Cost Rate means the flat rate at which the Partner will be reimbursed by UN Women for its Support Costs, as set forth in the Partner Project Document and not exceeding a rate of 8% or the rate set forth in the Donor Specific Conditions, if that is lower. The flat rate is calculated on the eligible Direct Costs.

  • Advance Rates shall have the meaning set forth in Section 2.1(a) hereof.

  • Insurance Cost Increase shall not, however, include any premium increases resulting from the nature of the occupancy of any other lessee of the Building. If the parties insert a dollar amount in Paragraph 1.9, such amount shall be considered the "BASE PREMIUM." If a dollar amount has not been inserted in Paragraph 1.9 and if the Building has been previously occupied during the twelve (12) month period immediately preceding the Commencement Date, the "Base Premium" shall be the annual premium applicable to such twelve (12) month period. If the Building was not fully occupied during such twelve (12) month period, the "Base Premium" shall be the lowest annual premium reasonably obtainable for the Required Insurance as of the Commencement Date, assuming the most nominal use possible of the Building. In no event, however, shall Lessee be responsible for any portion of the premium cost attributable to liability insurance coverage in excess of $1,000,000 procured under Paragraph 8.2(b).

  • Flood Insurance means the insurance coverage provided under the National Flood Insurance Program.

  • Indirect Cost Rate means a device for determining in a reasonable manner the proportion of indirect costs each Program should bear. It is a ratio (expressed as a percentage) of the Indirect Costs to a Direct Cost base. If reimbursement of Indirect Costs is allowable under an Award, Grantor will not reimburse those Indirect Costs unless Grantee has established an Indirect Cost Rate covering the applicable activities and period of time, unless Indirect Costs are reimbursed at a fixed rate.

  • Expense Fee Rate As to each Mortgage Loan, the sum of (a) the related Servicing Fee Rate and (b) the Trustee Fee Rate.

  • Flood Insurance Study means the official report provided by the Federal Insurance Administration that includes flood profiles, the Flood Insurance Rate Map, the Flood Boundary and Floodway Map, and the water surface elevation of the base flood.

  • group insurance means insurance, other than creditor’s group insurance and family insurance, whereby the lives of a number of persons are insured severally under a single contract between an insurer and an employer or other person; (“assurance collective”)

  • Required Insurance shall have the meaning provided in Section 9.03.

  • FHA Insurance The contractual obligation of FHA respecting the insurance of an FHA Loan pursuant to the National Housing Act, as amended.

  • Certificate of Insurance means a document showing that an insurance policy has been written and includes a statement of the coverage of the policy.

  • Insurance Schedule means Schedule 3 attached hereto.

  • Insurance adjuster means a person who directs or conducts the investigation, negotiation, or settlement of a claim under an insurance policy other than life insurance or an annuity, on behalf of an insurer, policyholder, or a claimant under an insurance policy.

  • Flood Insurance Study (FIS means an examination, evaluation, and determination of flood hazards, corresponding water surface elevations (if appropriate), flood hazard risk zones, and other flood data in a community issued by the FEMA. The Flood Insurance Study report includes Flood Insurance Rate Maps (FIRMs) and Flood Boundary and Floodway Maps (FBFMs), if published.