Mortality Charge definition
Mortality Charge means a charge levied by Us on the Sum at Risk for providing life insurance cover to the Life Insured during the Policy Term on the basis of his attained Age during the Policy Term in accordance with the rates as specified in Part E;
Mortality Charge means cost of life insurance cover and is levied at the beginning of each policy month from the fund by canceling units for an equivalent amount.
Mortality Charge means the charge for providing the life insurance cover. The method of calculation of the Mortality Charge is as set out in Section 33) below.
Examples of Mortality Charge in a sentence
Premium Amount; Guaranteed Interest; Excess Interest, Cost of Expected Mortality; Charge for Extra Rating Class; Charge for Extra Benefits; Charges for Administration and Minimum Death Benefit Guarantee; Schedule of Other Charges Table of Adjustment Factors ...............................................
More Definitions of Mortality Charge
Mortality Charge means a charge levied by Us on a sum at risk basis for providing life insurance cover to the Life Insured during the Policy Term. The Mortality Charge is deducted from the Policy Fund Value at the beginning of each Policy Month on the basis of his/her Attained Age in accordance with the rates as specified in Part E of the Policy.
Mortality Charge means cost of life insurance cover and is deducted from the premium when the premium is paid.
Mortality Charge means the cost of Life Insurance Cover and is levied at the beginning of each policy month starting from the second policy year from the fund by cancelling units for an equivalent amount.