Extra Premium means an additional amount charged by Us, as per Our Underwriting Policy, which is determined on the basis of disclosures made by You in the Proposal Form or any other information received by Us including medical examination report of the Life Insured.
Net Premium means the premium, net of reinsurance premiums paid, HRA and GME payments, and MCO tax expenses.
Annual Premium means an amount specified in the Schedule, which is payable under the annual Premium payment mode under this Policy, excluding Extra Premium, if any and excluding service tax or any other taxes, cesses or levies, if any;
Auction Premium means the difference between the clearing price and the reserve price in an auction;
Maximum Premium has the meaning set forth in Section 7.06(b).