Target Premiums definition

Target Premiums. The Target Premium is an amount determined from tables published by Pacific Life with respect to a Contract or rider upon which commissions are based. Target Premiums shall be calculated in accordance with rates and methods of calculation described in the Pacific Select Choice Rates and Values Booklet. As it applies to future business, the Target Premium may be changed from time to time by Pacific Life. The Target Premium applicable to a particular coverage shall be determined from the table in force when the first premium for such coverage is entered as paid in the accounting records of Pacific Life.
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Examples of Target Premiums in a sentence

  • Target Premiums vary by type of product, type of rider, insured's issue age, sex, specified amount and the underwriting risk classification.

  • A table of Target Premiums per $1,000 of Stated Death Benefit for all ages is found on page 9A.

  • Life policies Notwithstanding any other provision of the Contract, payment of compensation and expense allowances shall be determined by such rules and practices as may be established by the Company whenever any change is made which affects the Target Premiums/+/ for Universal Life policies.

  • Target Premiums shall be calculated in accordance with rates and methods of calculation described in the Pacific Select Choice Rates and Values Booklet.

  • SALES SURRENDER CHARGE The sales surrender charge is a percentage of actual premiums paid up to a maximum based on Target Premiums.

  • The required production levels and bonus percentages are as follows: Level I $15,000 Paid Annualized Premium 10% Level II $30,000 Paid Annualized Premium 20% Level III $45,000 Paid Annualized Premium 30% The percentage so derived will be applied to variable universal life first policy year Target Premiums actually received by Southland during the bonus period.

  • In the first two Policy Years or the first two years following an increase in Stated Death Benefit, the sales surrender charge is capped at 26% of premiums paid up to one Target Premium, plus 6% of premiums paid between one and two Target Premiums, plus 5% of all other premiums.

  • The determining factors for the quota share percentage are the expected WMA Total Flexible Premium Variable Life First Year Target Premiums Collected by the Reinsured for the calendar year that the quota share percentage will be applicable.

  • The determining factors for the quota share percentage are the expected WMA Total Flexible Premium Variable Life First Year Target Premiums Collected by the Reinsured and the expected WMA Total Flexible Premium Variable Life First Year Target Premiums written with all insurance companies for the calendar year that the quota share percentage will be applicable.

  • For policies credited to the Agency under the Agreement while this part is in effect, marketing allowance payable to the Agency shall be the following percentages of recurring premiums (up to Target Premiums) and shall be payable when the premium is due and paid to the Company, subject to the provisions of the Agreement.