Life Insurance Policy definition

Life Insurance Policy has the meaning given in Section 6.11.

Life Insurance Policy. ’ means any arrangement under which a person, in return for provision being made for the rendering of a premium to that person, undertakes to meet insurance obligations—

Life Insurance Policy means a contract under which an entity promises to pay a designated beneficiary a sum of money upon the death of the insured.

Examples of Life Insurance Policy in a sentence

• If the insurance reduces, as may be provided in the Policy, an individual Life Insurance Policy can be issued.

• If the insurance ceases due to the termination or amendment of the Policy, an individual Life Insurance Policy can be issued.

• If the insurance ceases due to termination of employment or membership in any of the Policy's classes, an individual Life Insurance Policy may be issued.

• Life Insurance Policy can be called in question within 3 years on the ground that any statement of or suppression of a fact material to expectancy of life of the Life Assured was incorrectly made in the proposal or other document basis which Policy was issued or revived or rider issued.

• Life Insurance Policy can be called in question within 3 years on the ground that any statement of or suppression of a fact material to expectancy of life of the Annuitant was incorrectly made in the proposal or other document basis which Policy was issued or revived or rider issued.

More Definitions of Life Insurance Policy

Life Insurance Policy means an ordinary life insurance policy, an industrial life insurance policy or a sinking fund policy;

Life Insurance Policy means any policy of insurance issued in the ordinary course of carrying on life insurance business as defined in section 3 of the Insurance Act [Chapter 24:07];

Life Insurance Policy means anagreement whereby the insurer is obligated to indemnify or to confer a benefit upon the insured or beneficiary to the agreement contingent upon the death of the insured, including any investment component of the policy.

Life Insurance Policy means any life insurance policy owned by the Company, the Guarantor, or any of their direct or indirect Subsidiaries or Affiliates.

Life Insurance Policy means any individual life policy or endowment policy or group policy or certificate of life insurance that is administered on the Company’s administrative systems for which the Company performs Recordkeeping services and that provides a death benefit. The term "Policy" shall not include: 1) any policy or certificate of life insurance that provides a death benefit under any Federal employee benefit program, · including without limitation the Service members Group Life Insurance and Veterans Group Life Insurance Programs; 2) any life insurance policies or certificates where the determination as to whether a benefit is payable is contingent on the cause and manner of death; 3) those life insurance policies or certificates for which the applicable contestability period or suicide exclusion period has not expired at the time of the insured's death; 4) group or corporate owned life insurance policies, or certificates issued thereunder, where the Company does not perform Recordkeeping functions; or 5) Group marketed Corporate, Bank, and Institutional Owned policies; or 6) Private Placement Variable Universal Life products; or 7) any benefits payable under health coverages such as disability and long term care arising from the reported death of an insured person under such coverages. Nothing in this Agreement shall be construed as an admission of any party’s position as to the preemptive effect of the Employee Retirement Income Security Act of 1974, as periodically amended, on state laws as applied to employment based base plans.

Life Insurance Policy means an individual or

Life Insurance Policy means the life insurance policy maintained by any Credit Party upon the life of Mxxxxxx Xxxxxx with the death benefit thereunder of at least $4,000,000 in the aggregate on new or existing policies.