Policy Protection definition

Policy Protection. Rider: Protects the death benefit of the base policy and any primary insured term rider from lapse as long as the Policy Protection Account Value ("shadow account") is not negative. Enhanced No Lapse Guarantee Rider: Provides that the policy will not lapse as long as cumulative premiums paid less indebtedness and less withdrawals are greater than or equal to the cumulative no lapse guarantee premiums. Length of guarantee varies by issue age. Allocated Retention Pool -- Effective 10/1/2008 Between HLIC and Swiss Re 42 SCHEDULE A PLANS OF INSURANCE COVERED UNDER THIS AGREEMENT EFFECTIVE OCTOBER 1, 2008 Lifetime No Lapse Guarantee Rider: Same as Enhanced No Lapse Guarantee Rider but with lifetime guarantee. Guaranteed Minimum Accumulation Benefit (GMAB) Rider: Provides, at the end of the GMAB Guarantee Period (usually 20 years), that the policy Account Value will be increased, if necessary, to equal the sum of gross premiums paid to that date. There is a small monthly charge and a minimum cumulative premium requirement to keep the rider in force. Paid-Up Life Insurance Rider: Similar to the GMAB rider, with the same Guarantee Period, a monthly charge, and a cumulative premium requirement. At end of the Guarantee Period, the owner may elect to change coverage to paid-up life using the Account Value as a 5% NSP to determine the amount of coverage; however, the amount of coverage will never be lower than the sum of gross premiums paid to that date. Once elected, premiums are no longer payable. Conversion Option Rider: During certain policy years and prior to the insured's attained age 70, the policy may be converted, without evidence of insurability, to any permanent plan of life insurance the Ceding Company then makes available for conversions of this policy. Overloan Protection Rider: Protects a policy from terminating due to overloan. Waiver of Specified Amount (WSA) Rider: Waives a specified amount monthly while the insured is disabled. Waiver of Monthly Deductions (WMD) Rider: Waives monthly deduction amounts while the insured is disabled. Children's Life Insurance Rider: Provides level term life coverage for each child of the insured. Foreign Travel Exclusion Rider: Provides a limited death benefit (Account Value less indebtedness) if the insured dies due to travel to, from, or within certain foreign countries, or due directly or indirectly to illness or injury sustained during such travel. Estate Tax Repeal Benefit Rider: Pays the policy Account Value les...
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Examples of Policy Protection in a sentence

  • Protects the death benefit of the base policy and any Estate Protection Rider from lapse as long as the Policy Protection Account Value ("shadow account") is not negative.

  • Policy Protection Rider: Protects the death benefit of the base policy and any primary insured term rider from lapse as long as the Policy Protection Account Value ("shadow account") is not negative.

  • Upon a split, reinsurance will continue at point-in-scale rates for each single life, as documented in Section X.C. (This rider is not available when one of the insureds is uninsurable or above Table H.) Policy Protection Rider: Protects the death benefit of the base policy and any Estate Protection Rider from lapse as long as the Policy Protection Account Value ("shadow account") is not negative.

  • More detailed information on school district practice and policy regarding student records and data can be found in the school district’s Data Practices Policy (Protection and Privacy of Pupil Records Policy) and approved Records Retention Schedule.

  • Such terms include, but may not be limited to: Monthly Activity Date, Monthly Deduction Amount, Account Value, and Policy Protection Account.

  • This policy will always remain in force, both during the Policy Protection Period and beyond, as long as the Cash Surrender Value is sufficient to provide for Monthly Deductions.

  • Progress to date is included in the strategic plan progress section of the Patent Program and the Intellectual Property Policy, Protection and Enforcement (IP PP&E) Program narratives.

  • Policy Protection Rider (PPR) For COLA Rider, NAR Type follows Enhanced No Lapse Guarantee Rider Base Policy to which it is attached.

  • Global IP Policy Protection & Enforcement The USPTO is responsible for advising the President, through the Secretary of Commerce, and Federal agencies on national and international IP policy issues, including IP protection in other countries.

  • RIDERS PROVIDING DEATH BENEFITS THAT RIDERS THAT PROVIDE ADDITIONAL ARE ELIGIBLE FOR REINSURANCE BENEFITS BUT THAT ARE NOT ELIGIBLE FOR REINSURANCE: Estate Protection Rider (NAR Type is LS Exchange Option Rider C) Policy Protection Rider Estate Tax Repeal Rider Foreign Travel Exclusion Rider Guar.

Related to Policy Protection

  • MFN Protection has the meaning set forth in Section 2.14(e)(iii).

  • Fire Protection means all aspects of fire safety including but not limited to fire prevention, firefighting or Fire Suppression, pre-fire planning, fire investigation, public education and information, training or other staff development;

  • Data Protection Act means Act CXII of 2011 on Informational Self-Determination and Freedom of Information.

  • Data Protection means the implementation of appropriate administrative, technical or physical means to guard against unauthorized intentional or accidental disclosure, modification, or destruction of data.

  • Flood Insurance Regulations means (i) the National Flood Insurance Act of 1968 as now or hereafter in effect or any successor statute thereto, (ii) the Flood Disaster Protection Act of 1973 as now or hereafter in effect or any successor statue thereto, (iii) the National Flood Insurance Reform Act of 1994 (amending 42 USC 4001, et seq.), as the same may be amended or recodified from time to time, and (iv) the Flood Insurance Reform Act of 2004 and any regulations promulgated thereunder.

  • Paycheck Protection Program means loan program created by Section 1102 of the CARES Act.

  • Data Protection Law means the applicable legislation protecting the fundamental rights and freedoms of persons and their right to privacy with regard to the processing of Personal Data under the Agreement (and includes, as far as it concerns the relationship between the parties regarding the processing of Personal Data by SAP on behalf of Customer, the GDPR as a minimum standard, irrespective of whether the Personal Data is subject to GDPR or not).

  • Flood Insurance means the insurance coverage provided under the National Flood Insurance Program.

  • Data Protection Laws means EU Data Protection Laws and, to the extent applicable, the data protection or privacy laws of any other country;

  • Flood Insurance Laws means, collectively, (i) the National Flood Insurance Act of 1968 as now or hereafter in effect or any successor statute thereto, (ii) the Flood Disaster Protection Act of 1973 as now or hereafter in effect or any successor statue thereto, (iii) the National Flood Insurance Reform Act of 1994 as now or hereafter in effect or any successor statute thereto and (iv) the Flood Insurance Reform Act of 2004 as now or hereafter in effect or any successor statute thereto.

  • Data Protection Legislation means the Data Protection Act 1998 and all applicable laws and regulations relating to processing of personal data and privacy, including where applicable the guidance and codes of practice issued by the Information Commissioner or relevant Government department in relation to such legislation;

  • EU Data Protection Law means (i) prior to 25 May 2018, Directive 95/46/EC of the European Parliament and of the Council on the protection of individuals with regard to the processing of Personal Data and on the free movement of such data ("Directive") and on and after 25 May 2018, Regulation 2016/679 of the European Parliament and of the Council on the protection of natural persons with regard to the processing of Personal Data and on the free movement of such data (General Data Protection Regulation) ("GDPR"); and (ii) Directive 2002/58/EC concerning the processing of Personal Data and the protection of privacy in the electronic communications sector and applicable national implementations of it (as may be amended, superseded or replaced).

  • Data Protection Acts means Data Protection Act 1988, as amended by the Data Protection (Amendment) Act 2003, and as may be modified, amended, supplemented, consolidated or re- enacted from time to time;

  • Data Protection Laws and Regulations means all laws and regulations, including laws and regulations of the European Union, the European Economic Area and their Member States, Switzerland and the United Kingdom, applicable to the Processing of Personal Data under the Agreement.

  • EU Data Protection Laws means EU Directive 95/46/EC, as transposed into domestic legislation of each Member State and as amended, replaced or superseded from time to time, including by the GDPR and laws implementing or supplementing the GDPR;

  • Accident and health insurance means contracts that incorporate morbidity risk and provide protection against economic loss resulting from accident, sickness, or medical conditions and as may be specified in the valuation manual.

  • Standard Hazard Insurance Policy means a fire and casualty extended coverage insurance policy in such amount and with such coverage as required by this Agreement.

  • European Data Protection Laws means the EU General Data Protection Regulation 2016/679 (“GDPR”) and data protection laws of the European Economic Area (“EEA”) and their member states and the FADP.

  • Environmental Policy means to conserve energy, water, wood, paper and other resources, reduce waste and phase out the use of ozone depleting substances and minimise the release of greenhouse gases, volatile organic compounds and other substances damaging to health and the environment, including any written environmental policy of the Customer;

  • the applicable data protection law means the legislation protecting the fundamental rights and freedoms of individuals and, in particular, their right to privacy with respect to the processing of personal data applicable to a data controller in the Member State in which the data exporter is established;