Insurance premium loan definition

Insurance premium loan means a consumer loan that is made for the sole purpose of financing the payment by or on behalf of an insured of the premium on one or more policies or contracts issued by or on behalf of an insurer, is secured by an assignment by the insured to the lender of the unearned premium on the policy or contract, and contains an authorization to cancel the policy or contract financed.
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Insurance premium loan means each loan made by the Originator in connection with the transactions contemplated by the Transaction Documents, evidenced by a Note and Security Agreement and the other documents in the Loan Document Package (or other documentation in form and substance satisfactory to the Agent) and secured by one or more Life Insurance Policies or all of the beneficial interests in an entity which owns the Life Insurance Policies.
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Insurance premium loan means a regulated consumer loan that:
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Examples of Insurance premium loan in a sentence

  • A cent er POINT and a ( DOUBLE PRECISION) f loat ing - point r adius r epr esent a CIRCLE.Table 2 .

  • Insurance premium loan payableOn February 28, 2022, the Company entered into an annual financing arrangement for a portion of its Directors and Officers Insurance Policy (the “D&O Insurance”) with Marsh & McLennan in an amount of $275,537.

  • Example: Insurance premium, loan installments, utility payments etc.

  • Insurance premium loan payableOn February 28, 2023, the Company entered into an annual financing arrangement for a portion of its Directors and Officers Insurance Policy (the “D&O Insurance”) with First Insurance Funding in an amount of $203,884.

Related to Insurance premium loan

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

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

  • Premium Due Date means date specified in the Schedule on which the Instalment Premium will become due.

  • Base premium rate means, for each class of business as to a rating period, the lowest premium rate charged or that could have been charged under the rating system for that class of business by the small employer carrier to small employers with similar case characteristics for health benefit plans with the same or similar coverage.

  • Premium Rate has the meaning assigned to such term in the Premium Letter.

  • Yield Maintenance Premium means the amount (if any) which, when added to the remaining principal amount of this Note, will be sufficient to purchase U.S. Obligations providing the required Scheduled Defeasance Payments; and

  • Prepayment Premium means, with respect to the Mortgage Loan, any prepayment premium, spread maintenance premium, yield maintenance premium or similar fee required to be paid in connection with a prepayment of the Mortgage Loan pursuant to the Mortgage Loan Documents, including any exit fee.