Surrender values definition
Surrender values means the monetary value the basic policy has accumulated over the lifetime of the policy, minus any outstanding amount that you owe us. Doctor means a licensed person who is qualified by degree in western medicine to practice medicine. The license is given by the appropriate medical authority of his country of residence to practice medicine within his scope of licensing and training. This cannot be you, the Life insured, a family member or a relative. Endorsement means any written change to the policy which is issued and properly authorised by us. Life insured/He means the person whom we provide the cover for. The Life insured does not have any right to the policy, unless he is also the policy owner. Non-participating means it does not share in any surplus or profits of the company’s fund. Nominee(s) is a person that you have nominated (under the Insurance Act and Nomination of Beneficiary regulations) to receive the policy monies payable under the policy upon your death. The nomination must be registered with us. Participating means it shares in the surplus or profits of the life participating fund.
Surrender values means the monetary value the basic policy has accumulated over the lifetime of the policy, minus any outstanding amount that you owe us. Doctor means a licensed person who is qualified by degree in western medicine to practice medicine. The license is given by the appropriate medical authority of his country of residence to practice medicine within his scope of licensing and training. This cannot be you, the Life insured, a family member or a relative. Endorsement means any written change to the policy which is issued and properly authorised by us. Life insured/He means the person whom we provide the cover for. The Life insured does not have any right to the policy, unless he is also the policy owner. Non-participating means it does not share in any surplus or profits of the company’s fund. Nominee(s) is a person that you have nominated (under the Insurance Act, Chapter 142 and Insurance (Nomination of Beneficiaries) Regulations 2009) to receive the policy monies payable under the policy upon your death. The nomination must be registered with us. Participating means it shares in the surplus or profits of the life participating fund.
Examples of Surrender values in a sentence
Surrender values and account balances which cannot be transferred in good time shall continue to earn interest, at no more than the BVG minimum rate, as if the Agreement were still in effect.
Surrender values are not less than those required by the Standard Nonforfeiture Law using interest of 3% per year.
Surrender values paid during the month, multiplied by the quota share $ ___________ percentage.
Surrender values paid during the month, multiplied by the quota share $ ___________________________ percentage.