Life Insurance Policy definition

Life Insurance Policy has the meaning given in Section 6.11.
Sample 1Sample 2Sample 3
Life Insurance Policy means any policy of insurance issued in the ordinary course of carrying on life insurance business as defined in section 3 of the Insurance Act [Chapter 24:07];
Sample 1Sample 2Sample 3
Life Insurance Policy. ’ means any arrangement under which a person, in return for provision being made for the rendering of a premium to that person, undertakes to meet insurance obligations—
Sample 1Sample 2Sample 3

Examples of Life Insurance Policy in a sentence

  • Your Policy is a Regular Premium Unit Linked Life Insurance Policy.

  • Career Adjustment Benefit: The tuition expenses for training incurred by your Spouse within 36 months after the date of your death, exclusive of board and room, books, fees, supplies and other expenses, reduced by the amount of the Career Adjust Benefit paid under any Group Life Insurance Policy issued by us, but not to exceed $5,000 per year, or the cumulative total of $10,000 or 25% of the AD&D Insurance Benefit, whichever is less.

  • An employee who retires from service will be entitled to a $5,000 Life Insurance Policy, fully paid by the Company.

  • Repatriation Benefit: The expenses incurred to transport your body to a mortuary near your primary place of residence, reduced by the amount of the Repatriation Benefit paid under any Group Life Insurance Policy issued by us, but not to exceed $5,000 or 10% of the AD&D Insurance Benefit, whichever is less.

  • Higher Education Benefit: The tuition expenses incurred per Child within 4 years after the date of your death at an accredited institution of higher education, exclusive of board and room, books, fees, supplies and other expenses, reduced by the amount of the Higher Education Benefit paid under any Group Life Insurance Policy issued by us, but not to exceed $5,000 per year, or the cumulative total of $20,000 or 25% of the AD&D Insurance Benefit, whichever is less.


More Definitions of Life Insurance Policy

Life Insurance Policy means a contract under which an entity promises to pay a designated beneficiary a sum of money upon the death of the insured.
Sample 1Sample 2Sample 3
Life Insurance Policy means an ordinary life insurance policy, an industrial life insurance policy or a sinking fund policy;
Sample 1Sample 2Sample 3
Life Insurance Policy means anagreement whereby the insurer is obligated to indemnify or to confer a benefit upon the insured or beneficiary to the agreement contingent upon the death of the insured, including any investment component of the policy.
Sample 1Sample 2Sample 3
Life Insurance Policy means an individual or
Sample 1Sample 2Sample 3
Life Insurance Policy has the meaning set forth in Section 5.1(b).
Sample 1Sample 2Sample 3
Life Insurance Policy means any individual life policy or endowment policy or group policy or certificate of life insurance that is administered on the Company’s administrative systems for which the Company performs Recordkeeping services and that provides a death benefit. The term "Policy" shall not include: 1) any policy or certificate of life insurance that provides a death benefit under any Federal employee benefit program, · including without limitation the Service members Group Life Insurance and Veterans Group Life Insurance Programs; 2) any life insurance policies or certificates where the determination as to whether a benefit is payable is contingent on the cause and manner of death; 3) those life insurance policies or certificates for which the applicable contestability period or suicide exclusion period has not expired at the time of the insured's death; 4) group or corporate owned life insurance policies, or certificates issued thereunder, where the Company does not perform Recordkeeping functions; or 5) Group marketed Corporate, Bank, and Institutional Owned policies; or 6) Private Placement Variable Universal Life products; or 7) any benefits payable under health coverages such as disability and long term care arising from the reported death of an insured person under such coverages. Nothing in this Agreement shall be construed as an admission of any party’s position as to the preemptive effect of the Employee Retirement Income Security Act of 1974, as periodically amended, on state laws as applied to employment based base plans.
Sample 1Sample 2Sample 3
Life Insurance Policy means any life insurance policy owned by the Company, the Guarantor, or any of their direct or indirect Subsidiaries or Affiliates.
Sample 1Sample 2Sample 3