Policy Value definition

Policy Value means the amount to which separately identified interest credits and mortality, expense, or other charges are made under a universal life insurance policy.

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Policy Value. The sum of the Variable Account Value, the Fixed Account Value and the Loan Account Value. The Policy Value on the Policy Effective Date is the initial Net Premium less the Monthly Deduction for the upcoming month. Policy Year: Each period of 12 months commencing with the Policy Effective Date.

Policy Value means the amount of which separately identified interest credits and mortality, expense, or other charges are made under a universallife insurance policy.

Examples of Policy Value in a sentence

The Company will allocate the unpaid interest based on the proportion that the value of the Owner's Fixed Account and the value of the Owner's Sub-Account(s) bear to the total Unloaned Policy Value.
However, if an increase is cancelled under this provision and no additional premium payments were required in order to increase the Face Amount, only the first monthly cost of insurance deduction and the administration fee for the increase in Face Amount will be credited back to the Sub-Accounts and Fixed Account in the proportion that each Sub-Account Value and the Fixed Account Value bears to the un-loaned Policy Value.
In the event of such a reduction in the Initial Face Amount, the Company will allocate the partial Surrender Charge to each Sub-Account and the Fixed Account based on the proportion that the value of the Fixed Account and the value of the Sub-Account(s) bear to the total unloaned Policy Value.
The Fixed Account is part of the Company's General Account to which Policy Value may be transferred or Net Premiums allocated under a Policy.
Interest will continue to accrue on the Policy Value and on the Policy Debt, if any.

More Definitions of Policy Value

Policy Value means a policy’s GPR.

Policy Value. Amount defined in Section 4, that can be used to fund one of the Income Options. POLICY YEAR – The 12-month period following the Policy Date shown on the Policy Data page. The first Policy Year starts on the Policy Date. Each subsequent year starts on the anniversary of the Policy Date.

Policy Value means the sum of the Portfolio Values.

Policy Value means the sum of Fund Values across all funds in the Policy.

Policy Value means the amount, developed within the main structure of the policy or provided in a separate policy provision, to which separately identified interest credits and mortality, morbidity, expense or other charges are made under a fixed premium universal life insurance policy. The policy owner may or may not have a right to the entire policy value because of built in surrender charges imposed by the insurer.

Policy Value. The sum of the values of your interests in the subaccounts of the separate account plus the value of the fixed account and the loan account. The amount from which monthly deductions are made and the death benefit is determined.

Policy Value means gross premiums paid, excluding separate identified premiums for riders or supplementary benefits which are not credited to policy value, plus net investment income, which may be positive or negative and may vary based on policy loans, less the following as specified in the policy: