Initial Premiums definition

Initial Premiums. The initial premium (covering three months) for Group I and Group II payable by the Company on behalf of the Trust to the Certificate Insurer in consideration of the delivery to the Trustee of each of the Certificate Insurance Policies.
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Initial Premiums. The initial premiums payable by the Sponsor on behalf of the Trust to the Certificate Insurer in consideration of the delivery to the Trustee of the Certificate Insurance Policy.
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Examples of Initial Premiums in a sentence

  • The Company shall pay directly to the Certificate Insurer the Initial Premiums.

  • Initial Premiums are due on or before the effective date of the [In- Network] Group Contract.

  • The Sponsor shall pay directly to the Certificate Insurer the Initial Premiums.

  • Basic) --- For Issue Ages 0-80 The EDB-EE Basic benefit is the maximum of the following: - Contract value plus 40% of the Gain for Issue Ages 0-69 and 25% for Issue Ages 70-80 - Net considerations (Initial Premiums reduced dollar-for-dollar on withdrawals); - A GMDB equal to a Maximum Anniversary Value (MAV) calculated on the contract anniversary prior to the deceased's 81st birthday (additional premiums and withdrawals are treated on a dollar-for-dollar basis); GMDB frozen thereafter.

  • The BGA shall direct all Policy and Contract holders to pay Premiums (other than Initial Premiums) and loan repayments directly to Equitable.

  • Premium Payment Initial Premiums are due and payable on or before the Contract effective date.

  • In no event shall Equitable or the Distributor be liable for any error made by Equitable in the investment of any Premiums (including Initial Premiums) forwarded to Equitable by the BGA unless written instructions for investing such Premiums are delivered to Equitable simultaneously with or prior to receipt of such Premiums and such error resulted from Equitable's gross negligence or intentional misconduct.

  • Except as otherwise provided in Equitable's Policies and Procedures, Equitable shall not be bound by or obligated under any Policy or Contract unless and until it has accepted the Application therefor, all Initial Premiums on account thereof have been paid to Equitable and the Policy or Contract has been forwarded for delivery to the applicant pursuant to Section 4.7 hereof.

  • The BGA shall not accept or collect, and shall prevent Independent Agents from accepting or collecting, Initial Premiums prior to such time as the same are due and payable to Equitable, and all sums collected in payment of Initial Premiums shall be promptly transmitted (and in any event not later than two (2) business days after receipt) to Equitable at such address as Equitable or the Distributor may from time to time specify in writing.

  • In the event that any Premiums (other than Initial Premiums) or loan repayments are sent to the BGA or any of its Independent Agents, rather than to Equitable, the BGA shall promptly (and in any event, within two business days) remit such Premiums and loan repayments to Equitable.

Related to Initial Premiums

  • 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;

  • Total Premiums Paid means total of all the premiums received, excluding any extra premium, any rider premium and taxes.

  • Insurance Premiums shall have the meaning set forth in Section 6.1(b) hereof.

  • Operating Expenses is defined to include all expenses necessary or appropriate for the operation of the Fund (or Class, as applicable), including the Advisor’s investment advisory or management fee detailed in the Investment Advisory Agreement and any Rule 12b-1 fees and other expenses described in the Investment Advisory Agreement, but does not include taxes, leverage interest, brokerage commissions, dividend and interest expenses on short sales, acquired fund fees and expenses (as determined in accordance with SEC Form N-1A), expenses incurred in connection with any merger or reorganization, or extraordinary expenses such as litigation expenses.

  • Property tax increment means the amount obtained by: