Monthly Processing Date definition

Monthly Processing Date means the same day of each month as the Contract Date. If the day does not exist in a month, the last day of the month will be used.
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Monthly Processing Date is the day of each month that the Monthly Deduction Amount is deducted from the Account Value of this Contract. Monthly Processing Dates are the Contract Date and the same day of each month thereafter. If there is no such date in a particular month, the Monthly Processing Date will be the last day of that month. If a Monthly Processing Date is not a Valuation Date, the Monthly Processing Date will be the next Valuation Date.
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Monthly Processing Date means the same day of each month as the Contract Issue Date. If the day does not exist in a month, the first day of the next month will be used. If the first day of the next month falls on a non-business day, we will use the next business day.
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Examples of Monthly Processing Date in a sentence

  • If the Surrender Value on a Monthly Processing Date is not sufficient to cover the Monthly Deduction Amount, a grace period of 61 days will be allowed for you to pay an amount sufficient to cover the Monthly Deduction Amount due.

  • You may apply for a Partial Withdrawal of your Account Value on any Monthly Processing Date after the first Policy anniversary by writing to us at our Customer Service Center.

  • The Master Policyholder shall pay the premium for new Members on each Monthly Processing Date or shall keep an Advance Deposit with us.

  • The transfer date will be the same calendar day each month as the Monthly Processing Date.

  • If the Company is not open on this date, the Monthly Processing Date will be the next business date.

  • The death benefit will be that which the cost of insurance which was deducted from you Account Value on the last Monthly Processing Date prior to the death of the Insured would have purchased for the Insured's correct age and sex.

  • The effective date of the change will be the Monthly Processing Date that coincides with or follows the Valuation Day after we approve your Written Request.

  • The persistency refund will be added to the divisions of the Variable Account and the Guaranteed Interest Division in the same proportion that your Account Value in each division bears to your Net Account Value as of the Monthly Processing Date.

  • Dollar Cost Averaging may not begin until the Monthly Processing Date following the end of the Right to Examine Policy Period.

  • The death benefit will be that which the cost of insurance which was deducted from your Account Value on the last Monthly Processing Date prior to the death of the insured would have purchased for the insured's correct age and sex.


More Definitions of Monthly Processing Date

Monthly Processing Date means the date which corresponds numerically with the Policy Issue Date in every calendar month.
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Monthly Processing Date. The "Monthly Processing Date" is the date each month on which the monthly deductions from the Accumulation Value are deducted. The first Monthly Processing Date will be the Policy Date or the date on which the initial Net Premium is allocated to your Policy, if later. Subsequent Monthly Processing Dates will be the same date as the Policy Date each month thereafter unless this is not a Valuation Day, in which case the Monthly Processing Date occurs on the next Valuation Day.
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Monthly Processing Date. The date each month on which the monthly deductions from the account value are due. The first monthly processing date will be the policy date or the date on which the initial net premium is allocated to your policy, if later. Subsequent monthly processing dates will be the same date as the policy date each month thereafter. If that date is not a valuation date, monthly processing will use the next calculated accumulation unit value. Net account value: The amount of the account value minus any policy loan and accrued loan interest. Net cash surrender value: The account value minus any applicable surrender charge and minus any policy loan including accrued but unpaid loan interest.
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Monthly Processing Date means the same day of each calendar month following the Effective Date.
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Monthly Processing Date. The date each month on which the monthly deductions from the account value are due. The first monthly processing date will be the policy date or the date on which the initial net premium is allocated to your policy, if later. Subsequent monthly processing dates will be the same date as the policy date each month thereafter. If that date is not a valuation date, monthly processing will use the next calculated accumulation unit value. Net account value: The amount of the account value minus any policy loan and accrued loan interest. Net premium: The premium amount paid minus the premium expense charges shown in the Schedule. These charges are deducted from each premium before the premium is applied to your account value. Policy Form 15291-00 5 Partial withdrawal: The withdrawal of a portion of your cash surrender value from the policy. The partial withdrawal may reduce the amount of base death benefit in force, which in turn may cause a surrender charge to be incurred. Policy loan: The sum of amounts you have borrowed from your policy, increased by any policy loan interest capitalized when due, and reduced by any policy loan repayments.
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Related to Monthly Processing Date

  • Collection Period means, with respect to any Payment Date, the period commencing on the first day of the calendar month immediately preceding the month in which such Payment Date occurs (and, in the case of the first Collection Period, the period from (but excluding) the Cutoff Date) and ending on the last day of the calendar month immediately preceding the month in which such Payment Date occurs.

  • Remittance Date With respect to each Distribution Date, the 18th day (or if such 18th day is not a Business Day, the first Business Day immediately following) of the month in which such Distribution Date occurs.