Policy Loans definition

Policy Loans means loans issued by the Insurance Company.

Policy Loans means loans under the applicable Covered Insurance Policies.

Policy Loans shall have the same meaning as set forth in the Coinsurance Agreement.

Examples of Policy Loans in a sentence

• An amount equal to unpaid interest will be segregated within the Declared Interest Option in the same manner that amounts for Policy Loans are segregated within the Declared Interest Option.

• Thereafter, interest not paid when due will be added to the existing Policy Debt and bear interest at the same rate charged for Policy Loans.

• Transfers resulting from the making of Policy Loans will not be considered transfers for the purposes of these limitations and charges.

• The existence or extent of insurance coverage will not affect indemnification rights and obligations hereunder.

• Policy Loans: Fair values for policy loans, net of reinsurance ceded, are estimated using discounted cash flow analyses and interest rates currently being offered to policyholders with similar policies.

• Interest on Policy Loans accrues daily and is due at the end of each Policy Year.

• Policy Loans have priority over the claims of any assignee or any other person.

• In brief, variable Interest Rate Loans have more uncertainty than Standard Policy Loans in both the interest rate charged and the interest rate credited.

• Policy Loans will usually be allocated from the Subaccounts and the Fixed Account proportionately based on their current value.

• Indebtedness equals the total of all outstanding Policy Loans and any accrued interest on the loans.

More Definitions of Policy Loans

Policy Loans means a credit facility granted by an insurer underwriting life insurance business to its policyholders and the amount of the facility does not exceed the surrender value of the life policy of the policyholders on the date of granting the credit facilities.

Policy Loans. The Company has not attempted to determine the fair values associated with its policy loans, as management believes any differences between the Company's carrying value and the fair values afforded these instruments are immaterial to the Company's financial position and, accordingly, the cost to provide such disclosure is not worth the benefit to be derived.

Policy Loans means policy loans under the Insurance Contracts, with the dollar amount of Policy Loans at any time being the amount of principal indebtedness plus accrued and unpaid interest, all calculated on a basis consistent with SAP and the terms of the Insurance Contracts.

Policy Loans means the amount of policy loans and accrued interest on the Reinsured Policies as of the Closing Date.

Policy Loans means loans to policyholders, secured by the cash surrender value of a life insurance policy.

Policy Loans means, with respect to each Cedant, the amount set forth on the line item “Policy Loans” reflected on the Statement of General Account Net Settlement, the Pro Forma Statement of General Account Net Settlement, the Estimated Statement of General Account Net Settlement or the Closing Statement of General Account Net Settlement, as applicable to such Cedant, in each case solely to the extent the Policy Loans relate to the Covered Insurance Policies.