Definition of Policy Benefits

Policy Benefits shall mean partial surrenders, full surrenders, death claims, annuity payouts under Supplementary Contracts, and all other contractual benefits.

Examples of Policy Benefits in a sentence

The liability of the Reinsurer with respect to its share of the risks under the Reinsured Policies including liability for Policy Benefits under the Reinsured Policies shall begin simultaneously with that of the Company, but not prior to the Effective Date.
Funding Policy: Benefits are funded by contributions from members and the primary government and earnings from investments.
Click the link for the official State EPP: Environmental Preferable Purchasing Policy Benefits and Goals of Green Procurement Green procurement has various benefits that facilitate sustainability and effective accomplishment of the State's mission.
For details on the Company's reinsurance receivable see "Future Policy Benefits and Reinsurance Receivables" below.
These assumptions are "locked in" and are not revised for the lifetime of the contracts, except where there is a premium deficiency, as defined in Note 1--Significant Accounting Policies in the Notes to Consolidated Financial Statements under the caption Future Policy Benefits.