Target Premium definition

Target Premium means the amount payable by the Policy Owner for a certain Premium Year. Target Premium is determined depending on the Sum Insured, policy term, age, gender of the Life Insured and must not be lower than the minimum target premium set for this product, determined by Dai-ichi Life Vietnam from time to time.

Target Premium. The amount of Premium specified as such in Section 1. The Premium Expense Load deduction varies depending on whether Premiums paid in a given Policy Year are below, equal to or above Target Premium.

Target Premium. A "Target Premium" refers to a premium amount we use to calculate the sales load charge and the sales surrender charge. A Target Premium is determined for the initial Stated Death Benefit on the Policy Date, and an additional Target Premium is determined for each increase in Stated Death Benefit based on the Insured's Age, sex and risk class. The Target Premium is not based on the premium you plan to pay for your Policy. It is generally less than planned premiums for a Policy Year. It may be more or less than the No- Lapse Monthly Premium for a Policy Year, depending on the supplemental benefits added to the Policy.

Examples of Target Premium in a sentence

• In this case, Dai-ichi Life Vietnam has the right to either continue the Policy with the same terms and conditions; or change the Cost of Insurance and/or Target Premium; or add special exclusions as per the conditions set by Dai-ichi Life Vietnam; or cancel the Policy, in which case Dai-ichi Life Vietnam shall pay the Policy Owner the Net Cash Value.

• Target Premium shall be reduced accordingly to the level applicable to the correct age and/or gender and the selected Sum Insured.

• Allocation Charge will be deducted from the premiums paid, depending on the Policy Year and is calculated as a percentage of the Target Premium as specified in the table below: When the excess of Target Premium is the result of increasing Sum Insured of basic or rider(s); or attachment rider, allocation Charge at 55% (fifty-five) for this excess of Target Premium will be deducted within the first 12 months.

• Target Premium is specified in the Policy Certificate or other written agreements (if any).

• The balance in excess of Target Premium will become Excess Premium for the current Policy Year.Target Premium of the main product will be allocated into the Policy Account Value as specified in the following table: The Policy Owner shall be responsible for paying premium in full, on time and keep the Policy Account Value above the Monthly Charge and Debts (if any), even if the Policy Owner does not receive notice letters sent by Dai-ichi Life Vietnam to remind the Policy Owner of the premium payment.

More Definitions of Target Premium

Target Premium shall refer to the target premium amount of the Replacement Policy.

Target Premium means the premium paid to Travelers Corporate Variable Universal Life that receives new commission rates in the first year and renewal commission rates in the renewal years.

Target Premium means the amount payable by the Policy Owner for a certain Premium Year. Target Premium is determined depending on the Sum Insured, age and gender of the Life Insured.

Target Premium. The amount of Premium specified as such in Section 1. The sales load deduction and the Sales Load Refund at Surrender vary depending on whether Premiums paid in the given Policy Year are below or above the Target Premium.

Target Premium means the premium level over which the compensation rates vary in the first policy year for Band 1 contracts.

Target Premium. The target premium is an amount determined from tables published by PM with respect to a policy or rider upon which commissions are based. Target premiums shall be calculated in accordance with the rates and methods of calculations described in the Pacific Select Exec Rates and

Target Premium shall refer to the target premium of the Replacement Policy. In situations where a policy loan is carried over to the Replacement Policy, no commission will be paid on the unscheduled premium deposit created for the purpose of carrying over the loan.