Single Premium Payment definition

Single Premium Payment. The amount shown on the Contract Data Page paid to the Company for the purchase of this Contract. This amount may be cumulative and come from one or more sources. Spouse: A party to a legal union between two natural persons recognized under the laws of the applicable jurisdiction, where the other party to the legal union is either an Annuitant, Beneficiary or Owner under the terms and conditions of the Contract.
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Single Premium Payment means the amount shown on the Data Page required to put this Contract into effect. The Contract Authority to Make Changes SPECIMEN
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Examples of Single Premium Payment in a sentence

  • The Net Single Premium Payment initially allocated to the Separate Account will be applied within two (2) Valuation Dates from the later of the receipt of the Premium Payment or the date all requirements to put the contract in force are satisfied.

  • For Premium Payments in excess of [$1,000,000.00] the Company reserves the right to restrict the Investment Options and/or allocate the Net Single Premium Payment to the Money Market Division for a period of 15 days (or the end of the Right to Cancel period if longer).

  • The Company will not issue a Contract unless the Company has received all the information necessary to issue the Contract; and the Company receives the entire Single Premium Payment.

  • This is a Single Premium Payment Contract; no additional premiums will be accepted.

  • The initial allocation to the Fixed Account cannot be less than [5%] of the Net Single Premium Payment.

  • The Owner may choose to allocate the Net Single Premium Payment to all variable, all fixed or a combination of fixed and variable Income Payments.

  • If the information needed to issue the contract is not received within five (5) Valuation Dates, the Company will return the premium unless the Owner allows the Company to keep the Single Premium Payment until the necessary information is received, in accordance with the Initial Allocation of the Net Single Premium Payment (Article 3, section 3.06).

  • The Owner may designate all or a portion of the Net Single Premium Payment to fixed Income Payments.

  • The Net Single Premium Payment allocated to the Fixed Account will be placed in the Company's general account.

  • Certain restrictions may apply based upon the Payout Option selected, the amount of the Net Single Premium Payment, and the frequency of payments.

Related to Single Premium Payment

  • Single Premium means the amount payable by the Policyholder at the Policy Commencement Date, as per the amount specified in the Schedule.

  • Premium Payment Date in respect of any Option, means the date on which the Premium is due and payable, as agreed to at the time the Option is entered into, as evidenced in a Confirmation.

  • Insurance Premium means the amount that each Debtor shall pay on a monthly basis to Agos pursuant to the relevant Consumer Loan Agreement, in relation to the insurance premium paid by Agos to the relevant Insurance Company under any Financed Insurance Policy.

  • Make-Whole Premium means, with respect to a Note at any redemption date, the greater of:

  • Premium Due Date means date specified in the Schedule on which the Instalment Premium will become due.