Total Premium Paid definition

Total Premium Paid means total of all the premiums received, excluding any extra premium, any discounts, any rider premium and taxes

Total Premium Paid means for the purpose of computing the Death Benefit in provision A12, the total amount of premiums due and paid for the Basic Plan, as determined in the Plan Currency, as of the date of death of the Life Insured; or, where applicable, the amount of Single Payment as shown in Policy Schedule 1 for Single Payment Policy; or each premium (including Single Payment, if applicable) had been paid at a reduced level, which is calculated based on the portion of the Basic Plan that has not been surrendered for partially surrendered policy.

Examples of Total Premium Paid in a sentence

• The revised annuity is calculated as revised premium x original annual annuity amount/ Total Premium Paid.

• In the event of the Insured’s death other than due to Accidental Death within the first two (2) Policy Years from the last reinstatement date of the above policy contract, AIA Bhd will refund the Total Premium Paid from the inception date or the policy face amount whichever is lesser.

• The amount payable will be equal to the reduced Total Premium Paid at the end of the Benefit Expiry Date.

• If the Policy is still in force and the Insured is alive at the Maturity Date of this Policy, You shall receive the Guaranteed Maturity Benefit which is 105% of the Total Premium Paid, less any indebtedness.

• Living Dependent Father of the deceased AnnuitantHowever, the annuity amount would be revised and determined using the annuity rate prevalent at the time of purchase of such annuity by utilizing the total premium required to be refunded to the nominee under the annuity contract.On subsequent death of Deceased Annuitant’s Dependent Mother and Dependent Father, the Total Premium Paid (exclusive of Goods and Services Tax and Cess), shall be payable to the Children of the Annuitant (if any).

• If the Life Assured’s death is due to suicide within Twelve months from the Date of Commencement of Risk or from the Date of Revival of the Policy as applicable, the Nominee of the Policyholder shall be entitled to receive at least 80% of the Total Premium Paid and received by Us till the date of death of the Life Assured or Surrender Value available as on the date of death of the Life Assured, whichever is higher, provided the Policy is in Inforce status.

• The amount payable will be equal to the Total Premium Paid at the end of the Benefit Expiry Date.

• However, in case of suicide within 1 year of the date of revival, when the revival is done after more than 6 months from the date of first unpaid Premium, the benefit payable shall be 80% of Total Premium Paid till the date of death or Surrender Value as at the date of death whichever is higher.

• The additions will depend upon the premium and will be calculated as: 9% of Total Premium Paid per annum for the 'first x' plan years*.

• We will pay a lump sum, equal to 100% of the Total Premium Paid, at the Benefit Expiry Date provided:• premiums are paid in full when due,• no Terminal Illness benefit has been paid,• no Death benefit has been paid, and• the Plan has not been cancelled, terminated or converted to a Term Life benefit before the Benefit Expiry Date.If multiple benefits are attached to a Policy, only one Policy fee will be refunded.