Policy Commencement Date definition
Examples of Policy Commencement Date in a sentence
This Policy shall however become void from commencement, if the age of the Annuitant at the Policy Commencement Date is found to be higher than the maximum or lower than the minimum entry age that was permissible under this Policy at the time of its issue and the amounts received under this Policy shall be liable to be forfeited by the Policyholder in favor of the Company at the Company‟s option.
The amount of death benefit is dependent on the Policy Year in which the written death intimation is received from the date of Policy Commencement and is payable as follows: Policy Year of death (from the Policy Commencement Date) Death Benefit Less than or equal to 30 years Return of Purchase Price Greater than 30 years Purchase Price less the actual total amount of annuity paid from the end of the 30th policy year till the date of intimation of death.