Variable life insurance contract definition

Variable life insurance contract means a contract of life insurance, sub- ject to regulation under the insurance laws or code of every jurisdiction in which it is offered, funded by a sepa- rate account of a life insurer, which contract, so long as payments are duly paid in accordance with its terms, pro- vides for:
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Variable life insurance contract or “Contract” means a life insurance contract that provides for death benefits and cash values that may vary with the investment experience of any separate account. Unless the context otherwise requires, “Variable Life Insurance Contract” or “Contract” refers to the Variable Life Insurance Contracts being offered pursuant to the registration statement prepared on this Form.
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Variable life insurance contract. ’ or ‘‘Contract’’ means a life insurance contract that provides for death benefits and cash values
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Examples of Variable life insurance contract in a sentence

  • Variable life insurance contract holders are subject to investment risks, including the possible loss of principal invested.

  • Policy Loans Variable life insurance contract owners (policyholders) may obtain loans from the Company.


More Definitions of Variable life insurance contract

Variable life insurance contract means a contract of life insurance, sub­ ject to regulation under the insurance laws or code of every jurisdiction in which it is offered, issued by a separate account of a life insurer, which contract, so long as premiums are paid when due in accordance with its terms, provides for:
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Variable life insurance contract means a contract of insurance that is within the class of life insurance for which all or part of the insurer’s liability under the contract, and the reserves for the liability, vary in amount depending on the market value of a specific group of assets. (« contrat d'assurance-vie à prestations variables »)
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Related to Variable life insurance contract

  • variable insurance contract means a contract of life insurance under which the interest of the purchaser is valued for purposes of conversion or surrender by reference to the value of a proportionate interest in a specified portfolio of assets.

  • Cash Value Insurance Contract means an Insurance Contract (other than an indemnity reinsurance contract between two insurance companies) that has a Cash Value greater than $50,000.

  • Insurance Contract means a contract (other than an Annuity Contract) under which the issuer agrees to pay an amount upon the occurrence of a specified contingency involving mortality, morbidity, accident, liability, or property risk.

  • 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.

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

  • 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.

  • FHA Mortgage Insurance Contract means the contractual obligation of the FHA respecting the insurance of a Mortgage Loan.

  • retirement annuity contract means a contract or scheme approved under Chapter III of Part XIV of the Income and Corporation Taxes Act 1988;

  • 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.

  • Insurance Contracts means the insurance or annuity policies and contracts, together with all binders, slips, certificates, endorsements and riders thereto, issued or entered into by any Insurance Company prior to the Closing.

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

  • Health-care-insurance receivable means an interest in or claim under a policy of insurance which is a right to payment of a monetary obligation for health-care goods or services provided.

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

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

  • Annuity means a stated sum payable periodically at stated times during life or during a specified or ascertainable period of time under an obligation to make the payments in return for adequate and full consideration in money or money's worth.

  • Individual health insurance coverage means health insurance coverage offered to individuals in the

  • Insurance premium finance company means a person engaged in the business of

  • Annuity Payments The series of payments made to the Owner or any named payee after the Annuity Date under the Annuity Option selected. ANNUITY PERIOD: The period of time beginning with the Annuity Date during which Annuity Payments are made.

  • Insurance Consultant or "consultant" means a person who:

  • 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:

  • Insurance Company The Transferee is an insurance company whose primary and predominant business activity is the writing of insurance or the reinsuring of risks underwritten by insurance companies and which is subject to supervision by the insurance commissioner or a similar official or agency of a state, U.S. territory or the District of Columbia.

  • 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;

  • Single Life Annuity means a Participant’s Grandfathered Benefit and/or 409A Benefit, as applicable, payable as an annuity in equal monthly installments over the life of the Participant, commencing as of the Payment Date and terminating in the month in which the Participant dies, with no further payments thereafter.

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

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

  • life annuity means an annuity payable under a policy issued to an SRS member for a term ending with, or at a time ascertainable only by reference to, the end of his life;