Noncancellable definition

Noncancellable means a policy in which the insured has the right to continue the insurance in force by the timely payment of premiums during which period the insurer has no right to unilat- erally make any change in any provision of the insurance or in the premium rate.

Noncancellable means that the owner has the right to continue the policy in force by the timely payment of premiums set forth in the policy until at least the insured’s age 65, or as an alternative, until the insured’s receipt of retirement benefits under the Social Security Act of the United States. During this period, the company shall not unilaterally make any change in any provision of the policy (including premium rates) while the policy is in force. This policy may also become Conditionally Renewable after the insured’s age 65 at the option of the company.

Noncancellable means that the insured has the right to continue the policy in force by the timely payment of premiums set forth in the policy until at least age 65, or as an alternative, until receipt of retirement benefits under the Social Security Act of the United States. During this period, the company shall not unilaterally make any change in any provision of the policy (including premium rates) while the policy is in force. This policy may also become Conditionally Renewable after age 65 at the option of the company. Drafting Note: See also Amendments section for renewal provision language that may be added at company discretion concerning changes or clarification in applicable law.

Examples of Noncancellable in a sentence

• In accordance with the Invoice Provision of this Agreement the State shall reimburse the University for costs incurred up to the effective date of termination and for costs incurred due to Non-cancellable Obligations, up to the undisbursed balance of funds authorized in this Agreement.

• Non-cancellable operating lease rentals are payable as follows: In thousands of euros20062005Less than one yearBetween one and five years More than five years632,8598216692,604408Total3,7433,681 The Group has entered into finance and operating leases of land and is both the lessor (under finance lease) and the lessee for hotel operations.

• Non-cancellable finance lease rentals are payable as follows: In thousands of euros 2006 2005Between one and five yearsMore than five years33413,39932311,228Total13,73311,551 During the year ended 31 December 2006, TEUR 688 was recognised as an interest expense in the income statement in respect of finance leases (2005 – TEUR 700).

• Noncancellable lease transactions that transfer substantially all risks and rewards associated with the ownership of assets are accounted for as finance leases.

• Non-cancellable operating leases contracted for but not capitalised in the accounts.

More Definitions of Noncancellable

Noncancellable means that renewal of a contract may not be declined except for nonpayment of premium, nor may rates be revised by the insurer.

Noncancellable means that renewal of a long-term care insurance policy cannot be declined and rates cannot be revised by the issuer.

Noncancellable means that renewal of a long-term care in- surance policy cannot be declined and rates cannot be revised by the issuer.

Noncancellable means renewal cannot be declined nor can rates be revised by the insurance company.

Noncancellable. ’ means that the insured may continue the long-term care insurance in force by timely paying premiums during which period the insurer shall not unilaterally make any change in any provision of the insurance or in the premium rate.

Noncancellable means an individual policy in which the insured has the right to continue the insurance in force by the timely payment of premiums during which period the insurer has

Noncancellable means that the renewal cannot be declined for reasonsother than for fraud, material misrepresentation or failure to pay the renewal Premium, nor can rates be revised by the insurance company.