Premium Allocation definition

Premium Allocation. If the Stated Death Benefit has been increased since the policy date, premiums received are allocated to the coverage segments in the same proportion that the commission target premium for each segment bears to the total commission target premium of the policy.
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Premium Allocation. Any Net Premium we receive before your policy has been placed In Force will be allocated to the Cash Management Variable Account, or a successor account identified by us for such purpose. When all outstanding requirements to place your policy In Force have been satisfied, the Accumulated Value will be transferred according to the most recent premium allocation instructions we have received from you. If your policy provides for a full refund of premium upon exercise of the Free Look Right, then transfer to the Investment Options will occur on the Free Look Transfer Date. After the initial transfer to the Investment Options, any Net Premium we receive will be allocated to the Investment Options according to the most recent premium allocation instructions we have received from you, and per the terms of this policy.
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Premium Allocation means, with respect to each Designated Member, the allocation of the Premium Payment that is set forth in the Disbursement Schedule.
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Examples of Premium Allocation in a sentence

  • Your selection of Strategy and Index, if applicable, for any Additional Premium payments will be at the same Premium Allocation Percentage as your Initial Premium, unless you provide Notice to Us directing otherwise.

  • The sum of the percentages of Net Premiums allocated to the NM Strength and Stability Account and Government Money Market Division cannot exceed the Premium Allocation Percentage Limit shown in Column A on the Policy Schedule Pages (page 4).

  • Repayments of Debt, and any unearned loan interest that was paid in advance on that portion of the Debt, will be deducted from the Loan Account and transferred to each subaccount of the Variable Account according to the ratio for this contract of the accumulated value in the subaccount to the sum of the accumulated values in all the subaccounts at the time of repayment or, if that sum is zero, according to the Premium Allocation Percentages.

  • All Contributions net of Premium Allocation Charges will be allocated to the Unit Linked Funds in the Allocation Proportion specified in the Schedule.

  • The percentage of Net Premiums allocated to the NM Strength and Stability Account cannot exceed the Premium Allocation Percentage Limit shown in Column B on the Policy Schedule Pages (page 4).

  • Premium Allocation - Allocation of the initial Net Premium will be done on the issue date or, if later, the date the premium is received and accepted by us.

  • Premium Allocation Before the Free Look Transfer Date — Any Net Premium we receive before the Free Look Transfer Date will be allocated to the Money Market Variable Account on the Policy Date or, if later, the date we receive your premium allocation instructions.

  • On the Date of Initial Premium Allocation, the accumulated value in the Money Market Subaccount will be allocated to the subaccounts of the Variable Account and to the Fixed Account.

  • Premium Allocation When the Policy is In Force – Any Net Premium we receive when your policy is In Force will be allocated to the Investment Options according to the most recent premium allocation instructions we received from you.

  • The Date of Initial Premium Allocation is the date we approve your Application.


More Definitions of Premium Allocation

Premium Allocation. Before the Policy is In Force — Any Net Premium we receive before your policy has been placed In Force, will be allocated to the Money Market Variable Account. When all outstanding requirements to place your policy In Force have been satisfied, the Accumulated Value in the Money Market Variable Account will be transferred to the Investment Options according to the most recent premium allocation instructions we received from you.
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Premium Allocation. Before the Free Look Transfer Date -- Any Net Premium received before the Free Look Transfer Date will be allocated to the Money Market Variable Account on the issue date or, if later, the date the premium is received and accepted by us. On the Free Look Transfer Date, the Accumulated Value in the Money Market Variable Account will be allocated to the Investment Options according to the premium allocation specified in the application or your most recent instructions received by us, if any. Premium Allocation On or After the Free Look Transfer Date -- Any Net Premium received by us on or after the Free Look Transfer Date will be allocated to the Investment Options according to the premium allocation specified in the application or your most recent instructions received by us, if any. Upon Written Request, you may change the premium allocation. Subsequently, Net Premiums will be allocated to the Investment Options according to your most recent instructions. Premium Limitation -- We reserve the right to require evidence of insurability, satisfactory to us, for any premium payment that would result in an immediate increase in the difference between the death benefit and the Accumulated Value. Guideline Premium Limitation -- (This subsection applies only if you have elected the Guideline Premium Test.) For this policy to be treated as life insurance under the Code, the sum of premiums paid less a portion of any withdrawals, as defined in the Code, may not exceed the greater of: . The Guideline Single Premium; or . The sum of the Guideline Level Premiums to the date of payment. The amounts of the Guideline Premiums are shown on the Policy Specification pages. The Guideline Premiums will change whenever there is a change in the Face Amount of insurance or in other policy benefits. Such Guideline Premium change will be shown in the supplemental schedule of benefits and premiums. Qualification as Life Insurance - (This subsection applies only if you have elected the Guideline Premium Test.) The Guideline Premiums are determined by the rules set forth in the Internal Revenue Code Section 7702. The Guideline Premiums will be adjusted to conform to any changes in the Code. In the event that a premium payment would exceed these limits, we will refund the excess premium, including any associated premium load, within 60 days of the next policy anniversary. If any such refunds are made, we will adjust the amount payable for interest, and recalculate policy values as if th...
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Related to Premium Allocation

  • Loss Allocation Limitation As defined in Section 4.4(g).

  • Reais Allocation Date means, with respect of any Reais Transfer Date, the Business Day which is immediately prior to such Reais Transfer Date.

  • Asset Allocation The following single issuer limits shall apply on a market value basis, with exception of Money-Market funds and US Government guaranteed securities, which may be held without limit:

  • Group II Allocation Percentage With respect to any Distribution Date, the percentage equivalent of a fraction, the numerator of which is (i) the Group II Principal Remittance Amount for such Distribution Date, and the denominator of which is (ii) the Principal Remittance Amount for such Distribution Date.

  • Wasteload allocation or "wasteload" or "WLA" means the portion of a receiving surface water's loading or assimilative capacity allocated to one of its existing or future point sources of pollution. WLAs are a type of water quality-based effluent limitation.