individual variable insurance contract definition
individual variable insurance contract or “IVIC” means an individual contract of Life Insurance, including an annuity contract, under which the Insurer’s liabilities vary in amount depending upon the market value of a specified group of assets in a Segregated Fund.
individual variable insurance contract or “IVIC” means an individual contract of life insurance under which the Insurer’s liabilities vary in amount depending upon the market value of a specified group of assets in a segregated fund. IVIC includes a provision in an individual contract of life insurance under which policy dividends are deposited in a segregated fund.
individual variable insurance contract means an individual contract of life insurance, including an annuity, or an undertaking to provide an annuity, under which the liabilities vary in amount depending upon the market value of a segregated fund in which amounts are allocated by the contractholder, and includes a provision in an individual contract of life insurance under which policy dividends are allocated to such a fund;
More Definitions of individual variable insurance contract
individual variable insurance contract or “IVIC” means an individual contract of life insurance under which the Insurer’s liabilities vary in amount depending upon the market value of a specified
individual variable insurance contract. “IVIC contract” means an individual contract of life insurance, including an annuity, or an undertaking to provide an annuity, as defined by insurance statutes and by the Civil Code of Québec, under which the liabilities vary in amount depending upon the market value of a specified group of assets in a segregated fund, and includes a provision in an individual contract of life insurance under which policy dividends are deposited in a segregated fund.