Joint Life Policy definition

Joint Life Policy means this Policy if it is issued to provide life covers to two (2) lives i.e. the Life Assured and the Second Life Assured.
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Joint Life Policy means this Policy if it is issued to provide life covers to two (2) lives
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Joint Life Policy means a Policy in which there are two (2) Lives Assured – the Primary Life Assured and the Secondary Life Assured.
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Examples of Joint Life Policy in a sentence

  • Changes in constitution of firm- change in profit sharing ratio, admission, retirement, retirement cum admission- treatment of goodwill- Revaluation of Asset & Liabilities- Treatment of Joint Life Policy- Death of Partner- Accounting for Dissolution of firm- Insolvency of partner- Piecemeal Distribution.

  • Thus, the endowment policy matures after a limted number of years.(iii) Joint Life Policy: This policy is taken up by two or more persons.

  • They had taken a Joint Life Policy of 2,50,000 with the surrender value 50,000.

  • Changes in constitution of firm – Change in profit sharing ratio, Admission, Retirement, Retirement cum Admission—treatment of Goodwill, revaluation of assets and liabilities, treatment of reserves and adjustment relating to capital; treatment of Joint Life Policy, Death of a Partner.

  • If this is a Joint Life Policy, a separate form must be completed for each insured person whose beneficiary is being changed; however, each jointly insured person must sign.

  • In the case of a Joint Life Policy, as Critical Illness Benefit is paid on a first event basis, then such Benefit is cancelled by payment of the first claim.

  • C had taken a loan from insurers for Rs. 5,000 on the security of Joint Life Policy.

  • On refund of eligible Premiums/Surrender Value under sui- cide clause as per Section 12) above on suicide of the An- nuitant/Spouse (in a Joint Life Policy).

  • A one-page infographic JSNA product was initially trialled based upon the Sexual Health and HIV JSNA chapter.

  • In the case of a Joint Life Policy, as Permanent and Total Disability Benefit is paid on a first event basis, then such Benefit is cancelled by payment of the first claim.


More Definitions of Joint Life Policy

Joint Life Policy means a policy which pays upon the death of the second to die of the Participant and his spouse.
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Joint Life Policy means a Policy in which there are two (2) lives assured – the
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Joint Life Policy means a policy which pays upon the death of the second to die of the Participant and his or her spouse. (m) "Owner" shall mean ________________________________________________. (n) "Owner's Death Benefit" shall mean $__________________. (o) "Participant" shall mean _____________________________________________. (p) "Plan" shall mean the plan described in Section 8(a) below. (q) "Policy" shall mean the following Joint Life Policy or Policies or Single Life Policy or Policies on the life of the Participant that are issued by the Insurer(s): Insurer Policy Number Type of Policy
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Related to Joint Life Policy

  • life policy means a contract in terms of which a person, in return for a premium, undertakes to -

  • Life Insurance Policy has the meaning given in Section 6.10.

  • Life insurance means insurance coverage on human lives including benefits of endowment and annuities, and may include benefits in the event of death or dismemberment by accident and benefits for disability income and unless otherwise specifically excluded, includes individually issued annuities.

  • policy of life insurance means any instrument by which the payment of money is assured on death (except death by accident only) or the happening of any contingency dependent on human life, or any instrument evidencing a contract which is subject to payment of premiums for a term dependent on human life;

  • R&W Insurance Policy means the representations and warranties insurance policy issued to Buyer in connection with the transactions contemplated hereby.

  • Life insurance producer means any person licensed in this state as a resident or nonresident insurance producer who has received qualification or authority for life insurance coverage or a life line of coverage pursuant to chapter 522B.

  • Credit life insurance means insurance on the life of a debtor in connection with

  • Life Insured means the person named in the Schedule, on whose life the Policy is effected;

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

  • Required Insurance Policy With respect to any Mortgage Loan, any insurance policy that is required to be maintained from time to time under this Agreement.

  • Policy Year means the period of time these Terms and Benefits are in force. The first Policy Year shall be the period from the Policy Effective Date to the day immediately preceding the first Renewal Date as specified in the Policy Schedule (both days inclusive) within one (1) year period; and each subsequent Policy Year shall be the one (1) year period from each Renewal Date.

  • life insurance business means the business of providing or undertaking to provide policy benefits under life policies;

  • group insurance means insurance, other than creditor’s group insurance and family insurance, whereby the lives of a number of persons are insured severally under a single contract between an insurer and an employer or other person; (“assurance collective”)

  • Policy form means the form on which the policy is delivered or issued for delivery by the issuer.

  • Group Annuity Contract means a master contract providing annuities to a group of persons under a single con- tract.

  • Annuity Contract means a contract under which the issuer agrees to make payments for a period of time determined in whole or in part by reference to the life expectancy of one or more individuals. The term also includes a contract that is considered to be an Annuity Contract in accordance with the law, regulation, or practice of the jurisdiction in which the contract was issued, and under which the issuer agrees to make payments for a term of years.

  • Standard Hazard Insurance Policy means a fire and casualty extended coverage insurance policy in such amount and with such coverage as required by this Agreement.

  • CSR Policy means the present Corporate Social Responsibility Policy of the Company, which covers the activities to be undertaken by the Company as specified in Schedule VII to the Act and the CSR Expenditure thereon.

  • DEPP means the Authority’s Decision Procedure and Penalties Manual;

  • Policy Date means the date on which the Search Report was prepared.

  • Policy Schedule means a schedule attached to these Terms and Benefits, which sets out, among others, the Policy Effective Date, Renewal Date, the name and the relevant particulars of the Policy Holder and the Insured Person, the eligible benefits, premium and other relevant details in respect of these Terms and Benefits.

  • Group Policy /”policy” means the breakdown policy as set out in this document;

  • School-age child means a child age five through 12 years old.

  • Special Primary Insurance Policy Any Primary Insurance Policy covering a Mortgage Loan the premium of which is payable by the Trustee pursuant to Section 4.04(a), if so identified in the Mortgage Loan Schedule. There are no Special Primary Insurance Policies with respect to any of the Mortgage Loans.

  • Certificate Insurance Policy The Certificate Guaranty Insurance Policy No. AB1094BE, dated the Closing Date, including any endorsements thereto issued by the Certificate Insurer to the Trustee for the benefit of the Holders of the Insured Certificates, a form of which is attached as Exhibit L hereto.

  • Group long-term care insurance means a long-term care insurance policy which is delivered or issued for delivery in this State and issued to: