Examples of Initial Premium in a sentence
Initial Premium Payment If continuation of coverage is elected, payment for continuation coverage must be made no later than 45 days after the date of such election.
During the Initial Interest Guarantee Period, values developed from the Initial Premium Payment are illustrated using the Initial Guaranteed Interest Rate(s) declared by the insurance company, which include an additional first year only interest bonus credit of 0.75%.
I agree that, except as provided in the Receipt for Initial Premium, no insurance will take effect unless the full first premium is paid and the policy is delivered and accepted by me.
If the Guarantee Holder fails to pay to MIGA, on or before the Initial Premium Due Date, the full amount of the Total Amount Due for the first Contract Period, MIGA may by notice to the Guarantee Holder terminate this Contract immediately, retroactively to the Effective Date and without any obligation whatsoever, rendering this Contract null and void and, irrespective of whether a Notice of Termination has been delivered, MIGA shall have no liability to pay compensation for any Loss.
Total Amount Due for theFirst Contract Period:[Amount in Guarantee Currency], payable on or before the Initial Premium Due Date.