Examples of Premium Loan in a sentence
The minimum loan amount is $500, unless the loan is an Automatic Premium Loan.
If the Policy continues in force because of the operation of an Automatic Premium Loan provision, or other such provision by which the Ceding Company receives compensation for its risk, then the reinsurance will also continue and the Ceding Company will pay the Reinsurer the reinsurance premium for the period to the date of termination.
Entering the incorrect premium will result in processing delays and require submission of a new, corrected application.If You and/or your Spouse/Domestic or Civil Union Partner want to have the optional Automatic Premium Loan feature or the optional Accidental Death Benefit to Age 100 Rider, please make the appropriate selections in this Section.
The usual billing statements will continue to be sent to you while the Automatic Premium Loan provision is in effect.
Only check the box in this section if you are declining the Automatic Premium Loan (APL) feature.