Option A Base Policy definition

Option A Base Policy. The Net Amount at Risk is the Death Benefit minus the Account value, where Death Benefit is the greater of the Face Amount or the minimum amount required under Section 7702 of the IRC.
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Option A Base Policy. The Net Amount at Risk is the Death Benefit minus the Account Value*, where the Death Benefit is the greater of the Face Amount plus Policy Value or the minimum amount required under Section 7702 of the IRC. The net amount at risk on Non-Universal Life policies and riders eligible for reinsurance under this Agreement is defined as the death benefit amount less the policy's cash value*. * not deducted for riders and supplemental benefits SCHEDULE B REINSURANCE PREMIUMS - YEARLY RENEWABLE TERM BASIS
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Examples of Option A Base Policy in a sentence

  • NET AMOUNT AT RISK: The net amount at risk on the policies and riders eligible for reinsurance under this Agreement, is defined below: Option A Base Policy: The Net Amount at Risk is the Death Benefit minus the Account Value, where the Death Benefit is the greater of the Face Amount or the minimum amount required under Section 7702 of the IRC.

Related to Option A Base Policy

  • Date of Option Grant means the effective date of grant of the Option as set forth in the Notice.

  • Notice of Stock Option Grant means the document so entitled to which this Agreement is attached.

  • Option A has the meaning assigned that term in Section 8.03(e).

  • ISO means an employee incentive stock option described in Section 422(b) of the Code.

  • Negative option feature means, in an offer or agreement to sell or provide any goods or services, a provision under which the customer’s silence or failure to take an affirmative action to reject goods or services or to cancel the agreement is interpreted by the seller as acceptance of the offer.

  • Replacement Option means an Option that is granted when a Participant uses a Common Share held or to be acquired by the Participant to exercise an Option and/or to satisfy tax withholding requirements incident to the exercise of an Option.

  • Reload Option means any Option granted under Section 6(a)(iv) of the Plan.

  • Incentive Option means an option which satisfies the requirements of Code Section 422.

  • Nonstatutory Stock Option means an Option not intended to qualify as an Incentive Stock Option.

  • Stock Reload Option means any option granted under Section 6.3, below, as a result of the payment of the exercise price of a Stock Option and/or the withholding tax related thereto in the form of Stock owned by the Holder or the withholding of Stock by the Company.

  • Director Option means an Option granted pursuant to Section 6.

  • Option Grant Date means, as to any Stock Option, the latest of:

  • option-based award means an award under an equity incentive plan of options, including, for greater certainty, share options, share appreciation rights, and similar instruments that have option-like features;

  • Option means a stock option granted pursuant to the Plan.

  • Stock Option Plans means any stock option plan now or hereafter adopted by the Partnership or the General Partner.

  • Stock Option means a contractual right granted to an Eligible Person under Section 6 hereof to purchase shares of Common Stock at such time and price, and subject to such conditions, as are set forth in the Plan and the applicable Award Agreement.

  • Replacement Award means an Award granted in assumption of, or in substitution for, an outstanding award previously granted by a company or business acquired by the Company or with which the Company, directly or indirectly, combines.

  • Shoe Option means the Initial Purchasers’ option to purchase up to seventy five million dollars ($75,000,000) aggregate principal amount of additional Notes as provided for in the Purchase Agreement.

  • Company Stock Option means any option to purchase Company Common Stock granted under any Company Stock Plan.

  • NSO means a stock option not described in sections 422 or 423 of the Code.

  • Approved 102 Option means an Option granted pursuant to Section 102(b) of the Ordinance and held in trust by a Trustee for the benefit of the Optionee.

  • Replacement Options has the meaning ascribed thereto in Section 1.1 of the Plan of Arrangement;

  • Stock Option Plan means any stock option plan now or hereafter adopted by the Company or by the Corporation, including the Corporate Incentive Award Plan.

  • Covered Call Option means an exchange traded option entitling the holder, upon timely exercise and payment of the exercise price, as specified therein, to purchase from the writer thereof the specified underlying Securities (excluding Futures Contracts) which are owned by the writer thereof and subject to appropriate restrictions.

  • Tandem SAR means an SAR that is granted in connection with a related Option pursuant to Article 7 herein, the exercise of which shall require forfeiture of the right to purchase a Share under the related Option (and when a Share is purchased under the Option, the Tandem SAR shall similarly be canceled).