Traditional Loan definition
Examples of Traditional Loan in a sentence
Traditional Loan Option - When a Traditional Loan is taken, an amount equal to the amount of the loan will be withdrawn from the Policy Value.
Policy Loans will continue to accrue interest and the Traditional Loan Account will continue to operate as stated in the Traditional Loans provision.
You can switch from the Traditional Loan Option by transferring the entire loan balance to the Indexed Loan Account by way of the Holding Fixed Accounts on a policy anniversary.
Buyer waives all other rights and remedies for such breach available at law or in equity, except as set forth in this Agreement.
Loan interest due at the end of a policy year will first be withdrawn from any credited interest remaining in the Traditional Loan Account.
The Traditional Loan interest rate will be determined by comparing the rate in effect for the preceding calendar year with a maximum interest rate defined by law and described below.
We will determine the Traditional Loan interest rate as of the first day of each calendar year.
It will apply to any new or outstanding Traditional Loan under this Policy during the calendar year.