Examples of Underwriting Extra Premium in a sentence
Guaranteed Surrender Value is defined as:A*(Total Premiums Paid excluding Underwriting Extra Premium, (if any)) + B*(Accrued Simple Reversionary Bonuses, If any) Where A and B are as provided in the table below.
Under the Premium Back Benefit Option, if the Life Insured has survived until the Maturity Date, 100% of the Sum of Total Premiums Paid and Underwriting Extra Premium, if any (corresponding to base Sum Assured and Life Stage Event Sum Assured) will be paid at end of Policy Term.
For Premium Back Benefit Option, the sum of additional Annualised Premium and Underwriting Extra Premium, if any, charged due to Life Stage Event will also be returned back on the Life Insured surviving throughout the Policy Term in addition to base Premium.
In case of joint life - 1.25 times Single Premium (plus Underwriting Extra Premium, if any) on the death of first Insured Person and 10 times Single Premium (plus Underwriting Extra Premium, if any) on the death of last surviving Insured Person.
Early Exit Value payable is equal to: A x Total Premiums Paid (excluding Underwriting Extra Premium, if any) x [Unexpired Term/Coverage Term] x [{Sum Assured (as per the defined schedule specified in the COI), at time t} / Initial Sum Assured]; Where, t = time of termination of the Insurance Coverage; Factor “A” varies by number of complete years for which Premiums have been paid and is detailed in Annexure 7.
Death benefit being the higher of (i) Sum Assured on Death or (ii) 105% of (Total Premiums Paid plus Underwriting Extra Premium plus loadings for modal premiums) as on the date of death of Life Insured; plusii.
Hence, if the Life Insured commits suicide within 12 months, whether minor/major, whether sane or insane, from the date of increase in Sum Assured benefit due to Life Stage Benefit Option, the Claimant will receive the Sum Assured under the base Policy (subject to the Clause above) plus return of sum of additional Annualized Premium, loading for modal premium and Underwriting Extra Premium, that was received to increase the Sum Assured under Life Stage Event Benefit Option.
Single Premium and Underwriting Extra Premium, if any, received by Us under the Policy, if the Policy has not acquired a Surrender Value.
Under the Life Stage Event benefit option, the Life Stage Event Sum Assured shall also get reduced as per the below formula: Reduced Paid-Up Life Stage Event Sum Assured = ((Total Premium Paid for Life Stage Event Sum Assured till the date on which Policy comes under Reduced Paid-Up Mode) / (total Premiums payable for Life Stage Event Sum Assured (excluding Underwriting Extra Premium, loadings for modal premiums and Rider Premium, if any)) * Life Stage Event Sum Assured.
A*(Total Premiums Paid excluding Underwriting Extra Premium, (if any) + B*(Accrued Simple Reversionary Bonuses) C Where A and B are as provided in the table below and C is defined as total Monthly Incomes already paid, if any.