Surrender values definition

Surrender values means the monetary value the basic policy has accumulated over the lifetime of the policy, minus any outstanding amount that you owe us. Doctor means a licensed person who is qualified by degree in western medicine to practice medicine. The license is given by the appropriate medical authority of his country of residence to practice medicine within his scope of licensing and training. This cannot be you, the Life insured, a family member or a relative. Endorsement means any written change to the policy which is issued and properly authorised by us. Life insured/He means the person whom we provide the cover for. The Life insured does not have any right to the policy, unless he is also the policy owner. Non-participating means it does not share in any surplus or profits of the company’s fund. Nominee(s) is a person that you have nominated (under the Insurance Act and Nomination of Beneficiary regulations) to receive the policy monies payable under the policy upon your death. The nomination must be registered with us. Participating means it shares in the surplus or profits of the life participating fund. Policy commencement date means the date the policy commences, as shown in the policy information page. This is the date we take as the policy anniversary.
Sample 1Sample 2
Surrender values means the monetary value the basic policy has accumulated over the lifetime of the policy, minus any outstanding amount that you owe us. Doctor means a licensed person who is qualified by degree in western medicine to practice medicine. The license is given by the appropriate medical authority of his country of residence to practice medicine within his scope of licensing and training. This cannot be you, the Life insured, a family member or a relative. Endorsement means any written change to the policy which is issued and properly authorised by us. Life insured/He means the person whom we provide the cover for. The Life insured does not have any right to the policy, unless he is also the policy owner. Non-participating means it does not share in any surplus or profits of the company’s fund. Nominee(s) is a person that you have nominated (under the Insurance Act, Chapter 142 and Insurance (Nomination of Beneficiaries) Regulations 2009) to receive the policy monies payable under the policy upon your death. The nomination must be registered with us. Participating means it shares in the surplus or profits of the life participating fund. Policy commencement date means the date the policy commences, as shown in the policy information page. This is the date we take as the policy anniversary.
Sample 1Sample 2

Examples of Surrender values in a sentence

  • Surrender values are not promised in excess of the legally computed reserves.

  • Surrender values may change in between reviews because in many cases the surrender values are calculated using formulae that depend upon factors such as term remaining which change over time.

  • Surrender values are reviewed annually and set at a level so that, on average, for groups of similar policies the surrender values offered are broadly equal to 100% of asset share.

  • Surrender values are calculated using a formula based approach, which uses the initial sum assured, the annual bonuses and any extraordinary bonuses declared and the smoothed final bonus rates set for contracts of the appropriate type and duration in force.

  • The Company may declare Special Surrender values at such other rates not less than the Guaranteed Surrender Values as specified above.

  • Surrender values were assumed in accordance with the current actual surrender basis.

  • Surrender values The surrender bases assumed for calculating surrender values are those current at the reporting date.

  • Surrender values are also guaranteed on Italian business reinsured with the Company.

  • Surrender & transfer values Surrender values are calculated with reference to a formula.

  • Surrender values are set to give a fair return to policyholders reflecting the premiums paid, the expenses incurred and the investment return earned.

Related to Surrender values

  • Surrender Value means an amount, if any, that becomes payable in case of Surrender of the Policy in accordance with the terms and conditions of the Policy.

  • Cash Surrender Value means the net cash surrender value plus any amounts outstanding as policy loans.

  • Surrender when used with respect to American Depositary Shares, shall mean (i) one or more book-entry transfers of American Depositary Shares to the DTC account of the Depositary, (ii) delivery to the Depositary at its Office of an instruction to surrender American Depositary Shares not evidenced by a Receipt or (iii) surrender to the Depositary at its Office of one or more Receipts evidencing American Depositary Shares.

  • SAR Value means the excess of the Fair Market Value (on the exercise date) over the exercise price that the participant would have otherwise had to pay to exercise the related Stock Option, multiplied by the number of shares for which the Stock Appreciation Right is exercised.

  • SPS AER Value means the Underlying Reference Value.

  • transfer value means the value of a transferred vote calculated in accordance with rules STV47.4 or STV47.7. 42. Arrangements for counting of the votes 42.1 The returning officer is to make arrangements for counting the votes as soon as is practicable after the close of the poll. 42.2 The returning officer may make arrangements for any votes to be counted using vote counting software where:

  • Coupon Barrier Value means, in respect of a ST Coupon Valuation Date, Worst Value.

  • FR Value means, in respect of a ST FR Valuation Date, Worst Value.

  • Surrender Charge means a charge levied on the Fund Value at the time of surrender of the Policy.

  • Cash Value means the greater of (i) the amount that the policyholder is entitled to receive upon surrender or termination of the contract (determined without reduction for any surrender charge or policy loan), and (ii) the amount the policyholder can borrow under or with regard to the contract. Notwithstanding the foregoing, the term “Cash Value” does not include an amount payable under an Insurance Contract as:

  • rand value means the total estimated value of a contract in Rand, calculated at the time of bid invitation, and includes all applicable taxes;

  • Purchase Option Price means the amount payable by a Lessee upon the exercise of its option to purchase a related Vehicle which amount equals (a) with respect to a Matured Vehicle, the Contract Residual Value plus any fees, taxes and other charges imposed in connection with such purchase and (b) with respect to a related 2011-1 Vehicle for which the related 2011-1 Lease has been terminated early by the Lessee, the sum of (i) any unpaid Monthly Payments due, (ii) any fees, taxes and other charges imposed in connection with the related Lease, (iii) an early termination fee and (iv) the Actuarial Payoff.

  • Vested Portion means, at any time, the portion of an Option which has become vested, as described in Section 3 of this Agreement.

  • Replacement Option has the meaning set forth in Section 3.06.

  • Replacement Price Section 1.51 is amended by (i) adding the phrase “for delivery” immediately before the phrase “at the Delivery Point” in the second line and (ii) deleting the phrase “at Buyer’s option” from the fifth line and replacing it with the phrase “absent a purchase”.

  • Base Year Value means the assessed value of eligible property January 1 preceding the execution of the agreement plus the agreed upon value of eligible property improvements made after January 1 but before the execution of the agreement.

  • Aggregate Option Exercise Price means an amount equal to the aggregate dollar amount of the exercise price on all Company Options outstanding immediately prior to the Effective Time.

  • Grant Amount or “Grant” means the total amount of financial assistance disbursed under this Agreement, which consists of the City's Amount and the Consultant’s Amount.

  • Exchange Price means as of any date, $1,000, divided by the Exchange Rate as of such date.

  • Coupon Amount means (i) in respect of a Coupon Payment, the amount of interest payable on a Security for the relevant Coupon Period in accordance with Condition 5 and (ii) for the purposes of Conditions 8(c) and 8(d), any interest accrued from (and including) the preceding Coupon Payment Date (or, if none, the Issue Date) to (but excluding) the due date for redemption if not a Coupon Payment Date as provided for in Condition 5(b);

  • Amortized Value means, when used with respect to an Investment Security purchased at a premium above or at a discount below par, the value as of any given date obtained by dividing the total amount of the premium or the discount at which such Investment Security was purchased by the number of days remaining to the first call date (if callable) or the maturity date (if not callable) of such Investment Securities at the time of such purchase and by multiplying the amount so calculated by the number of days having passed from the date of such purchase; and (a) in the case of an Investment Security purchased at a premium, by deducting the product thus obtained from the purchase price and (b) in the case of an Investment Security purchased at a discount, by adding the product thus obtained to the purchase price.

  • Maximum Basic Grant Amount’ has the same meaning as set out in item 1 of Schedule 1 of HESA; ‘National Law’ means (a) for a state or territory other than Western Australia – the Health Practitioner Regulation National Law as set out in the Schedule to the Health Practitioner Regulation National Law Act 2009 (Qld) as it applies (with or without modification) as a law of the State or Territory; and (b) for Western Australia – the legislation enacted by the Health Regulation National Law (WA) Xxx 0000 that corresponds to the Health Practitioner Regulation National Law;

  • Exchange Property has the meaning set forth in Section 11(a).

  • Share Premium Account means the share premium account established in accordance with these Articles and the Companies Act.

  • Book Value Per Share is the Bank’s equity capital (excluding FAS 115 and FAS 158 adjustment and Extraordinary Items) at the end of the Plan Year divided by the Plan’s number of Phantom shares of one million three hundred sixty thousand (1,360,000). The following Section 3.2(d) shall be added to the Agreement immediately following Section 3.2(c):

  • Option Consideration has the meaning set forth in Section 3.3(a).