Lapse−supported illustration definition

Lapse−supported illustration means an illustration of a policy form failing the test of self−supporting as defined in this section, under a modified persistency rate assumption using per- sistency rates underlying the disciplined current scale for the first 5 years and 100% policy persistency thereafter.

Related to Lapse−supported illustration

  • Illustration means a presentation or depiction that includes non-guaranteed elements of a policy of life insurance over a period of years and that is one of the three (3) types defined below:

  • Catalog Pricing and Pricing Requirements This is a requirement of the TIPS Contract and is non-negotiable. In this solicitation and resulting contract, "Catalog Pricing" shall be defined as: "The then available list of goods or services, in the most current listing regardless of date, that takes the form of a catalog, price list, price schedule, shelf-price or other viewable format that:

  • B-BBEE status level of contributor means the B-BBEE status of an entity in terms of a code of good practice on black economic empowerment, issued in terms of section 9(1) of the Broad-Based Black Economic Empowerment Act;

  • State Level Monitoring Cell means the body constituted by the State Government for the control and elimination of ragging in institutions within the jurisdiction of the State, established under a State Law or on the advice of the Central Government, as the case may be.