Policy illustration definition
Policy illustration means a presentation or depiction that includes nonguaranteed elements of a policy of life insurance over a period of years.
Policy illustration means, with respect to any Policy, a level premium, policy values and Net Death Benefit projection produced by the Issuing Insurance Company or an agent of the Issuing Insurance Company, using the Issuing Insurance Company’s current/non-guaranteed values (with a non-guaranteed interest crediting rate not to exceed two-hundred (200) basis points over the guaranteed rate) sufficient to carry such Policy to its Policy Maturity Date, which Policy Illustration is not dated more than one-hundred eighty (180) days prior to the applicable Advance Date.
Policy illustration means a level premium, policy values and Net Death Benefit projection produced by the Eligible Insurance Company or an agent of the Eligible Insurance Company, using the Eligible Insurance Company’s current/non-guaranteed values sufficient to carry the Eligible Life Insurance Policy to the Life Expectancy Date.
Examples of Policy illustration in a sentence
The Trust pledges and grants to the Company a security interest in a sufficient number of shares of Company stock to fully secure the greatest amount by which it is projected, in accordance with the "as sold" Policy illustration attached to the Split Dollar Plan as Exhibit C, that the Company's accumulated premium contributions will exceed the amount of the net proceeds payable to the Company under the Split Dollar Plan.
The Owner further agrees to sign a Pledge Agreement in the form attached to this Agreement, and deliver to the Company stock certificates having a value equal to the greatest amount by which the Premium Advance due to the Company is projected to exceed the cash surrender value during the lives of the Insureds, or the policy proceeds upon the death of the surviving Insured, as illustrated in the "as sold: Policy illustration, a copy of which is attached to this Agreement as Exhibit B.
All Policies with INAR will require an ultimate amount to be defined at Policy issuance and will be equal to [*] times the applied for amount, as shown under current values in the Policy illustration.
All Policies with INAR will require an ultimate amount to be defined at Policy issuance and will be the death benefit at the maximum attained age as shown under current values in the Policy illustration.
Upon receipt of such notification, the Company will provide information about the Policy to the Participant, including premiums, cash value and a Policy illustration.
More Definitions of Policy illustration
Policy illustration means, with respect to any Policy, a level premium, policy values and Net Death Benefit projection produced by the Issuing Insurance Company or an agent of the Issuing Insurance Company, using the Issuing Insurance Company’s current/non-guaranteed values (with a non- guaranteed interest crediting rate not to exceed two-hundred (200) basis points over the guaranteed rate) sufficient to carry such Policy to its Policy Maturity Date, which Policy Illustration is not dated more than one-hundred eighty (180) days prior to the applicable Advance Date.
Policy illustration means a document prepared by, and obtained from, the Insurance Company setting forth the Insurance Company’s name and location, the Policy number, Policy type, the Death. Benefit Amount of the Policy, date of issue or effective date of the Policy, the current account value and cash surrender value of the Policy, and an indication of level annual premiums, level Death Benefit Amount, account values, cash surrender values and policy charges expected in respect of the Policy through the maturity date or other expiration date of the Policy.
Policy illustration means a presentation or depiction that includes 1207 nonguaranteed elements of a policy [of] offering life insurance over a period of years. 1208 (145) "Policy summary" means a synopsis describing the elements of a life insurance 1209 policy. 1210 (146) "PPACA" means the Patient Protection and Affordable Care Act, Pub. L. No. 1211 111-148 and the Health Care Education Reconciliation Act of 2010, Pub. L. No. 111-152, and 1212 related federal regulations and guidance. 1213 (147) "Preexisting condition," with respect to health care insurance: 1214 (a) means a condition that was present before the effective date of coverage, whether or 1215 not medical advice, diagnosis, care, or treatment was recommended or received before that day; 1216 and 1217 (b) does not include a condition indicated by genetic information unless an actual 1218 diagnosis of the condition by a physician has been made. 1219 (148) (a) "Premium" means the monetary consideration for an insurance policy. 1220 (b) "Premium" includes, however designated: 1221 (i) an assessment; 1222 (ii) a membership fee; 1223 (iii) a required contribution; or 1224 (iv) monetary consideration. 1225 (c) (i) "Premium" does not include consideration paid to a third party administrator for 1226 the third party administrator's services. 1227 (ii) "Premium" includes an amount paid by a third party administrator to an insurer for 1228 insurance on the risks administered by the third party administrator. 1229 (149) "Principal officers" for a corporation means the officers designated under 1230 Subsection 31A-5-203(3). 1231 (150) "Proceeding" includes an action or special statutory proceeding. 1232 (151) "Professional liability insurance" means insurance against legal liability incident 1233 to the practice of a profession and provision of a professional service.
Policy illustration means a level premium, policy values and Net Death Benefit projection produced by the Eligible Insurance Company or an agent of the Eligible Insurance Company, using the Eligible Insurance Company’s current/non-guaranteed values sufficient to carry the Eligible Life Insurance Policy to the Life Expectancy Date. “Policy IRR” means the expected annual internal rate of return for any Insurance Policy that constitutes Collateral as determined in accordance with the Pricing Model as of the Purchase Date. “Portfolio Assets” means all Eligible Life Insurance Policies that constitute Conveyed Property. “Portfolio Pricing Model” means the latest version of the portfolio pricing model developed by ▇▇▇▇▇▇▇▇, Inc. and licensed by Borrower, which model shall calculate the Net Asset Present Value or using the mortality probabilities set forth in the mortality tables provided with the Life Expectancy Reports or the VBT Select Table. “Premium” means, with respect to any Insurance Policy, as indicated by the context, any premium paid with respect thereto, or any scheduled premium, determined and projected in the Policy Illustration, which may be optimized for minimum annual or lesser periods of premium payments and which may be further adjusted to reflect mortality probabilities using the mortality tables provided with the Life Expectancy Reports, Pricing Model or using the VBT Select Table. 11 “Pricing Model” means the latest version of the pricing model developed by ▇▇▇▇▇▇▇▇, Inc. and licensed by Borrower, which model shall calculate the Policy IRR or using the mortality probabilities set forth in the mortality tables provided with the Life Expectancy Reports or the VBT Select Table. “Principal Amount” means for any Promissory Note, the principal balance owing to the Lender. “Promissory Note” has the meaning set forth in Section 2.5. “Purchase and Sale Agreements” means the DZ Bank Credit and Security Agreement and any credit agreement with a future Liquidity Provider entered into by Borrower or its Subsidiaries, as the same may be amended, supplemented or otherwise modified from time to time in accordance with the Transaction Documents. “Purchase Date” means the date the Purchasers purchase any Eligible Life Insurance Policies under the Transaction Documents. “Purchase Price” means the total acquisition cost of any Eligible Life Insurance Policies constituting Collateral under the Transaction Documents. “Purchasers” means Master Trusts or the Borrower, as the case may b...
Policy illustration means a presentation or depiction that includes 2447 nonguaranteed elements of a policy of life insurance over a period of years. 2448 (129) "Policy summary" means a synopsis describing the elements of a life insurance 2449 policy. 2450 (130) "Preexisting condition," with respect to a health benefit plan: 2451 (a) means a condition that was present before the effective date of coverage, whether or 2452 not medical advice, diagnosis, care, or treatment was recommended or received before that day; 2453 and 2454 (b) does not include a condition indicated by genetic information unless an actual 2455 diagnosis of the condition by a physician has been made. 2456 (131) (a) "Premium" means the monetary consideration for an insurance policy. 2457 (b) "Premium" includes, however designated: 2458 (i) an assessment; 2459 (ii) a membership fee; 2460 (iii) a required contribution; or 2461 (iv) monetary consideration. 2462 (c) (i) "Premium" does not include consideration paid to a third party administrator for 2463 the third party administrator's services. 2464 (ii) "Premium" includes an amount paid by a third party administrator to an insurer for 2465 insurance on the risks administered by the third party administrator. 2466 (132) "Principal officers" for a corporation means the officers designated under 2467 Subsection 31A-5-203(3). 2468 (133) "Proceeding" includes an action or special statutory proceeding. 2469 (134) "Professional liability insurance" means insurance against legal liability incident 2470 to the practice of a profession and provision of a professional service. 2471 (135) (a) Except as provided in Subsection (135)(b), "property insurance" means 2472 insurance against loss or damage to real or personal property of every kind and any interest in 2473 that property: 2474 (i) from all hazards or causes; and 2475 (ii) against loss consequential upon the loss or damage including vehicle 2476 comprehensive and vehicle physical damage coverages.
Policy illustration means a presentation or depiction that includes
Policy illustration refers to the form attached to this Policy provided when You bought this Policy. It provides a summary of this product, its benefits and the Premiums that You will need to pay.