Installment Premium definition

Installment Premium means the amount stipulated in the Schedule and paid at regular intervals (yearly/half yearly/quarterly or monthly mode as shall be applicable) by the Policyholder as consideration for acceptance of risk and benefits specified as such in the Policy Document

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Installment Premium means the premium amount specified in the Schedule which is payable under this Policy at the frequency and in the modes specified in the Schedule.

Installment Premium means the premium payable yearly, half yearly, quarterly or monthly for the Base Policy and Rider (s) coverage if any depending on the mode of payment opted by the policy holder.

Examples of Installment Premium in a sentence

If you are unable to pay the Installment Premium by the due date, you will be given a grace period of 30 days to make the payment of due installment premium during which time all benefits under the policy will continue.
A “Reinsurance Agreement Default Event” shall occur on the date on which an event of default has arisen under this Agreement from a failure of the Ceding Insurer to make any Installment Premium payment, Premium Deposit Account deposit or 30-Day Reimbursement Amount payment when due under this Agreement and such failure to pay or make a deposit continues for five Business Days after the receipt of notice, substantially in the form attached hereto as Exhibit H, of such failure from the Reinsurer.
If the Ceding Insurer elects an Extension Event, on the Extension Determination Date immediately prior to the Scheduled Termination Date, the Ceding Insurer will deposit into the Premium Deposit Account an amount equal to the Installment Premium anticipated to be due at the end of the next two Accrual Periods.
At least 60 calendar days before each Payment Date, the Ceding Insurer (a) will deposit any amount necessary so that the amount in the Premium Deposit Account as of such date is at least equal to the Installment Premium payments due on the next two succeeding Payment Dates, or (b) may withdraw any amount held in the Premium Deposit Account in excess of the Installment Premium payment due on the next two succeeding Payment Dates in each case subject to paragraph 3 below.
The Installment Premium will be calculated on the basis of the actual number of days elapsed in the related period and a 360-day year.

More Definitions of Installment Premium

Installment Premium means the amount stipulated in the Policy Schedule and which is to be paid at the regular intervals (Premium Frequency) specified in the Policy Schedule by you as consideration for acceptance of risk and Benefits specified as such in the Policy Document. The Policy Schedule will specify if Instalment Premium is payable.

Installment Premium means the premium payable yearly, half-yearly, quarterly or monthly depending on the mode of payment opted by the policyholder.

Installment Premium is the premium as payable by You as per the Policy schedule to effect and continue this Policy contract.

Installment Premium has the meaning set forth in Article 6.A.

Installment Premium means the amount stipulated in the Schedule which is payable at the specified regular intervals (yearly/half yearly/ or monthly mode as shall be applicable) by You for the chosen Premium Payment Term as consideration for acceptance of risk and Benefits specified as such in the Policy Document

Installment Premium means the premium paid by the policyholder at the time of inception of policy as Single Premium..

Installment Premium means the premium payable yearly, half yearly, quarterly or monthly for the Base Policy and Rider (s) coverage if any depending on the mode of payment opted by the policy holder. “life assured” means the person on whose life insurance/rider cover is granted. “maturity date” means the date on which the risk cover ceases and benefits available become duie in terms of the policy except in case where death of the life assured occurs prior to the said date.