Calculating the premium for the waiver of contribution Clause Samples

The 'Calculating the premium for the waiver of contribution' clause defines how the insurance premium is determined when a policy includes a waiver of contribution feature. This clause typically outlines the method or formula used to calculate the additional cost associated with waiving the insurer's right to require the policyholder to contribute to a loss. For example, it may specify that the premium is adjusted based on the increased risk to the insurer or reference actuarial tables. The core function of this clause is to ensure transparency and fairness in pricing, so both parties understand the financial implications of including a waiver of contribution in the policy.
Calculating the premium for the waiver of contribution. The premium for the waiver of contribution in the event of disability is a percentage of the premium. The level of this percentage is stated in the ‘Costs, Rates and Assumptions’ annex. Section 9 (‘Disability’) of the Aegon Cappital Net Pension Regulations (elipsLife Variant) includes an example calculation . This premium for the waiver of contribution in the event of disability is charged to you and paid by you. For insured pensions (the net partner’s and orphan’s pension) this premium has already been processed in the rates. The ‘Costs, Rates and Assumptions’ annex explains how that is done.
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Calculating the premium for the waiver of contribution. The premium for the waiver of contribution in the event of disability is a percentage of the defined contribution. The level of this percentage is stated in the ‘Key Data Pensioenabonnement’. This premium for the waiver of contribution in the event of disability is charged to you and paid by you. Example calculation 6 Let’s assume the participant is 51 years of age and the defined contribution is € 361.96 gross per month and the surcharge for the waiver of contribution is 4.00%. And the participant’s own contribution is € 200.00 gross per month. The UWV has declared him/her disabled for 65%. The percentage of waiver is then 72.5% (see table in the Pension Regulations). You adjust this yourself in your payroll processing system. For insured pensions (the partner’s and orphan’s pension and ANW shortfall pension) this premium has already been processed in the rates. The ‘Costs, Rates and Assumptions’ annex explains how that is done.
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Calculating the premium for the waiver of contribution. Until no later than two years before you reach your state pension age, you pay risk premiums for the waiver of contribution. The contribution for the waiver of contribution in the event of disability is a percentage of the defined contribution. The level of this percentage is stated in the ‘Key Data Pensioenabonnement’. Let’s assume the participant is 51 and the defined contribution is € 361.96 gross per month and the surcharge for the waiver of contribution is 4.00%. And the participant’s own contribution is € 200.00 gross per month. The UWV determines that the participant’s occupational disability is 65%. The percentage of waiver is then 72.5% (see table in the Pension Regulations). You adjust this yourself in your payroll processing system. This premium for the waiver of contribution in the event of disability is charged to you and paid by you. Example calculation 6 For the insured pensions (the (voluntary supplementary) partner’s and orphan’s pension and the ANW shortfall pension), this premium has already been accounted for in the rates. The ‘Costs, Rates and Assumptions’ annex explains how that is done.
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Calculating the premium for the waiver of contribution. Until no later than two years before you reach your state pension age, you pay risk premiums for the waiver of contribution. The premium for the waiver of contribution in the event of disability is a percentage of the contribution. The level of this percentage is stated in the ‘Costs, Rates and Assumptions’ annex. Section 9 (‘Disability’) of the Aegon Cappital Net Pension Regulations includes an example calculation. This premium for the waiver of contribution in the event of disability is charged to you and paid by you. For the insured pensions (the net partner’s and orphan’s pension), this premium has already been accounted for in the rates. The ‘Costs, Rates and Assumptions’ annex explains how that is done.
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Related to Calculating the premium for the waiver of contribution

  • Waiver of Past Events of Servicing Termination The Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling Class may, on behalf of all Noteholders, waive any Event of Servicing Termination and its consequences, except an event resulting from the failure to make any required deposits to or payments from the Collection Account, the Note Payment Account, the Certificate Payment Account or the Reserve Account in accordance with this Agreement. Upon any such waiver of an Event of Servicing Termination, such event shall cease to exist, and shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other event or impair any right arising therefrom, except to the extent expressly so waived.

  • Reduction of Servicing Compensation in Connection with Prepayment Interest Shortfalls In the event that any Mortgage Loan is the subject of a Prepayment Interest Shortfall, the Servicer shall, from amounts in respect of the Servicing Fee for such Distribution Date, deposit into the Collection Account, as a reduction of the Servicing Fee for such Distribution Date, no later than the Servicer Remittance Date immediately preceding such Distribution Date, an amount up to the Prepayment Interest Shortfall; provided that the amount so deposited shall not exceed the Compensating Interest for such Distribution Date. In case of such deposit, the Servicer shall not be entitled to any recovery or reimbursement from the Depositor, the Trustee, the Issuing Entity or the Certificateholders. With respect to any Distribution Date, to the extent that the Prepayment Interest Shortfall exceeds Compensating Interest (such excess, a "Non-Supported Interest Shortfall"), such Non-Supported Interest Shortfall shall reduce the Current Interest with respect to each Class of Certificates, pro rata based upon the amount of interest each such Class would otherwise be entitled to receive on such Distribution Date. Notwithstanding the foregoing, there shall be no reduction of the Servicing Fee in connection with Prepayment Interest Shortfalls related to the Relief Act or bankruptcy proceedings and the Servicer shall not be obligated to pay Compensating Interest with respect to Prepayment Interest Shortfalls related to the Relief Act or bankruptcy proceedings.

  • Waiver of Servicer Events of Default The Holders representing at least 66% of the Voting Rights evidenced by all Classes of Certificates affected by any default or Servicer Event of Default hereunder may waive such default or Servicer Event of Default; provided, however, that a default or Servicer Event of Default under clause (i) or (vii) of Section 7.01 may be waived only by all of the Holders of the Regular Certificates. Upon any such waiver of a default or Servicer Event of Default, such default or Servicer Event of Default shall cease to exist and shall be deemed to have been remedied for every purpose hereunder. No such waiver shall extend to any subsequent or other default or Servicer Event of Default or impair any right consequent thereon except to the extent expressly so waived.

  • Calculation and Payment of Additional Rent Tenant shall pay to Landlord, in the manner set forth in Section 4.4.1, below, and as Additional Rent, Tenant’s Share of Direct Expenses for each Expense Year.

  • Allocation of Payments After Event of Default Notwithstanding any other provisions of this Credit Agreement, after the occurrence and during the continuance of an Event of Default with respect to any Borrower, all amounts collected from such Borrower or received by the Administrative Agent or any Lender on account of amounts outstanding under any of the Credit Documents shall be paid over or delivered as follows: FIRST, to the payment of all reasonable out-of-pocket costs and expenses (including without limitation reasonable outside attorneys’ fees other than the fees of in-house counsel) of the Administrative Agent or any of the Lenders in connection with enforcing the rights of the Lenders under the Credit Documents against such Borrower and any protective advances made by the Administrative Agent or any of the Lenders, pro rata as set forth below; SECOND, to payment of any fees owed to the Administrative Agent or any Lender by such Borrower, pro rata as set forth below; THIRD, to the payment of all accrued interest payable to the Lenders by such Borrower hereunder, pro rata as set forth below; FOURTH, to the payment of the outstanding principal amount of the Loans or Letters of Credit outstanding of such Borrower, pro rata as set forth below; FIFTH, to all other obligations which shall have become due and payable of such Borrower under the Credit Documents and not repaid pursuant to clauses “FIRST” through “FOURTH” above; and SIXTH, the payment of the surplus, if any, to whoever may be lawfully entitled to receive such surplus. In carrying out the foregoing, (a) amounts received shall be applied in the numerical order provided until exhausted prior to application to the next succeeding category and (b) each of the Lenders shall receive an amount equal to its pro rata share (based on each Lender’s Commitment Percentages) of amounts available to be applied.