Sentences with phrase «minimum subsequent premium»
Minimum subsequent premium amounts and limitations to when they are allowed prior to income start date may apply.
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The initial minimum premium payment is $ 5,000, and minimum subsequent premiums are $ 100.
Not exact matches
[3] With Universal Life it is possible coverage will expire when either no premiums are paid following the initial minimum premium or subsequent premiums are insufficient to continue coverage.
If premiums for a minimum of three years have been paid and subsequent payments have not been made, then benefits under the policy are reduced proportionately.
If premiums for a minimum of three years have been paid and subsequent payments have not been made, then the policy acquires «Paid — Up» Value and the Sum Assured under the policy is reduced.
If premiums for a minimum of two years have been paid and subsequent payments have not been made, then benefits under the policy are reduced proportionately.
Non forfeiture provision: States that if a policy has been in force for a minimum of three full years and subsequent due premiums are not paid, then the policy will have proportionately reduced sum assured along with vested bonus.