Sentences with phrase «original age of the insured»

Original Age Term Conversion With some term policies that can be converted to permanent coverage, the company agrees to set the premium rate for the permanent coverage at the original age of the insured.

Not exact matches

Expense Charge A monthly charge paid to an insurance company based on various elements of the policy such as insured's attained age, original rate class, etc..

A monthly charge paid to an insurance company based on various elements of the policy such as insured's attained age, original rate class, etc..

Generally applicable to current assumption policies such as equity indexed, variable and universal life, cost of insurance charges are monthly charges for mortality and other elements of insurer expense that are assessed against the policy based on the insured's current age, the original rate class, and the current net amount at risk.