Specified Face Amount definition

Specified Face Amount. The amount of life insurance coverage, with the initial requested amount specified in Section 1.
View Source
Specified Face Amount. The amount of life insurance coverage You request as specified in Section 1.
View Source
Specified Face Amount. The amount of life insurance coverage under the base Policy and specified as such in Section 1. Sub-Accounts: Accounts into which the assets of the Variable Account are divided.
View Source

Examples of Specified Face Amount in a sentence

  • The surrender charge will be calculated separately for the initial Specified Face Amount and each increase in the Specified Face Amount.

  • The surrender charges for the initial Specified Face Amount and each increase in the Specified Face Amount are shown in the current Section 1.

  • The Specified Face Amount may not decrease to less than the Minimum Specified Face Amount specified in Section 1.

  • Option B - Specified Face Amount plus Gross Cash Surrender Value.

  • The death benefit is the greater of: 1) the Specified Face Amount; or 2) the Account Value multiplied by the applicable death benefit percentage shown in Section 1.

  • The death benefit is the greater of: 1) the Specified Face Amount plus the Account Value; or 2) the Account Value multiplied by the applicable death benefit percentage shown in Section 1.

  • After the end of the fourth Policy Year, You may decrease the Specified Face Amount.

  • A surrender charge will be determined for the initial Specified Face Amount and for each increase in the Specified Face Amount.

  • The guaranteed issue limit upon entry into the plan by New Participants will be $2 million of Specified Face Amount.

  • Increases in Specified Face Amount issued on a Guaranteed Issue basis will be allowed up to maximum total coverage of $5,000,000.