Definition of Policy Illustration

  1. 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

  1. The Borrower shall or shall cause the Servicer to cause the applicable Issuing Insurance Companies to deliver to the Servicer an in-force Policy Illustration in respect of each Pledged Policy within 30 days of the anniversary of the issue date of each Policy, which the Portfolio Administrator will upload to the FTP site as described in the Portfolio Administration Agreement.

Definition of Policy Illustration in Promissory Notes

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.