Policy Loan definition

Policy Loan means a loan by an insurer, including a pre- mium loan, secured by the cash surrender value of a policy issued by the insurer.
Policy Loan means with respect to a Policy, an outstanding loan secured thereby or that has setoff rights with respect thereto.
Policy Loan means, with respect to any Policy, any loan or other cash advance made against the cash value of such Policy.

Examples of Policy Loan in a sentence

  • Interest shall accrue on Policy loan at a rate which shall be determined by Us from time to time based on current market interest rate on 10-year Government Securities (G-Sec) + 2% rounded to nearest 1%.

  • In-force premium paying/fully Paid Up Policy will never be cancelled for any contingencies arising from Policy loan payments.

  • The interest rate in a Policy loan is not guaranteed and could be reviewed by the Company on 1st of April every year.

  • The interest rate in a Policy loan is not guaranteed and would be reviewed by the Company on 1st of April every year.

  • Interest shall accrue on Policy loan at a rate which shall be determined by us from time to time.


More Definitions of Policy Loan

Policy Loan means a loan made to a policyholder by an insurer carrying on long- term business on the security of the cash surrender value of the policyholder’s policy of insurance;
Policy Loan. You may request a loan at any time while your policy is in force. All loans must be requested in writing on a form acceptable to us. The loan date is the date we process the loan.
Policy Loan means any loan extended by us to you under provision B of this Policy including any Automatic Premium Loans.
Policy Loan means a loan - not treated as a financial service - that may be provided by the insurer to the holder of a life assurance policy up to its cash surrender value and which is settled by the parties upon or before the occurrence of the insurance event or the termination of the contract;
Policy Loan shall have the meaning set forth in Section 2.05.
Policy Loan. After the first policy year, you may request a loan at any time while your policy is in force. The loan must be requested in writing on a form acceptable to us. The amount of the loan and all existing loans may not be more than the maximum loan value as of the loan date. The loan date is the date we process the loan. The minimum loan amount is $200. The loan will be made upon the sole security of the policy and proper assignment of your policy to us.
Policy Loan means, with respect to any Policy, any loan or other cash advances against the cash value of such Policy, pursuant to the terns and conditions of such Policy.