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What is the Minimum Monthly Premium (MMP)?

April 26, 2017minimum MMP Premium

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What is the Minimum Monthly Premium (MMP)?

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A. The MMP is the amount necessary to keep the Minimum Monthly Premium Guarantee [“Lapse Protection”] in effect. The MMP is shown on the Policy Specifications page or any Supplemental Policy Specifications page attached to the policy. If for each month that the policy has been in force the total premiums paid, less any withdrawals and policy debt, is greater than the MMP multiplied by the number of policy months since the Policy Effective Date, including the current month, the Minimum Monthly Premium Guarantee is in effect.