Income Protector Sample Clauses

Income Protector. Subject to the Company accepting its liability against the claim under section 2.1 of this Policy and in consideration of additional premium received from the Policy holder/ Insured Person at the time of issuance of the Policy, it is hereby understood & agreed that in the event of Insured Person loses his job due to Critical Illness covered under this policy the Company shall, in addition to the Sum Insured also pay the amount as prescribed in the Policy Schedule/ Certificate of Insurance upto specified number of months as specified in Policy Schedule/ Certificate of Insurance as income to the insured person. Conditions specific to this option-  Precondition: Claim under this cover is payable only when the claim under section 2.1 under this policy is payable.  For eligibility under this cover the job of the Insured Person must be Permanent and not temporary or casual or seasonal or contractual or off roll and the Insured Person must be employed in that permanent job at the time of inception of the Policy and 90 days immediately following thereafter within the Policy period including the day of inception of the Policy.  The Insured Person has to provide all the documentary evidences of such loss of Job  The Company shall, in case it deems fit to do so, shall have the discretion to even pay all the specified monthly income benefits as mentioned in the Policy Schedule/ Certificate of Insurance in lumpsum instead of monthly. Exclusion specific to this option-  The Company shall not be liable to make any payment under this Section in event the Insured Person unemployment is a consequence of his Termination, dismissal, suspension because of his involvement in any act of dishonesty and/or fraud and/or poor performance on the part of the Insured Person and/or his willful violation of any rules of the employer and/or laws for the time being in force and/or any disciplinary action against him by the employer.  The Company shall not be liable to make any payment under this Policy: o If the Insured Person is a Self employed persons during the entire Policy Period; o During the entire Policy Period in case of any claim relating to unemployment from such job which is casual, temporary, seasonal or contractual in nature or any claim relating to an employee not on the direct rolls of the employer; o In case of voluntary unemployment due to resignation during the entire Policy Period; o In case of unemployment at the time of inception of the Policy Period or unemploy...
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Related to Income Protector

  • Income Protection All workers will be covered by the extended Incolink Leisure Time Insurance and Income protection Scheme which provides defined weekly payments ($500 per week to workers with dependants, $400 per week to workers without dependants) for up to a maximum 104 weeks in the event of an extended work absence arising from any personal illness or injury (whether or not work related). The costs of this benefit will be shared between Incolink and the company on a 30/70 basis. Agreed premium costs will be: Incolink - $2.10 per week/worker Employer - $4.90 per week/worker It is a condition of the company’s agreement to provide this benefit that premium costs be maintained at not more than the February 1998 equivalent. In the event of premium costs escalating, the parties are agreed that the benefits table will be revised downwards so as to contain premium costs within the agreed limits. To maintain this cover the company agrees to pay the amounts every week for each employee. In the event the company does not maintain the above policy, the company will be liable in full to pay equivalent benefits to an employee who meets eligibility criteria as set out in the policy document.

  • Income Protection Plan 7.2.1 (a) All employees w ho are unable to perform their duties due to an illness or injury, other than one for w hich Workplace Safety and Insurance benefits are payable, shall be entitled to income protection in accordance w ith the follow ing schedule: Length of Service Full Salary 2/3' s Salary (Weeks) (Weeks) 3 months but less than 6 months 1 1 6 months but less than 12 months1 16 1 year but less than 2 years 2 15 2 years but less than 3 years 3 14 3 years but less than 4 years 4 13 4 years but less than 5 years 5 12 5 years but less than 6 years 7 10 6 years but less than 7 years 9 8 7 years but less than 8 years 11 6 8 years but less than 9 years 13 4 9 years but less than 10 years 15 2

  • Eye Protection Approved eye protection shall be supplied to individual prescription to all employees who normally wear glasses and are required to wear eye protection for an appreciable amount of time in the performance of their duties.

  • – DISABILITY INCOME PROTECTION PLAN 14.01 Income protection is payable when a full-time employee is absent from work due to legitimate personal illness or injury which is not compensable under the Workplace Safety and Insurance Act. It is understood that payment of income protection is for the sole and only purpose of protecting employees against the loss of income during time of such illness. Seniority and service will accrue and the Employer shall continue to pay its share of the premium for the benefit plans during the period of the income protection noted in this provision.

  • POWER SURGE PROTECTION This Agreement provides power surge protection from the product date of purchase of the Covered Product in the absence of insurance coverage. If the Covered Product is damaged as a result of a power surge, We will replace the Covered Product in accordance with the terms herein. You may be required to submit proof of claim denial from Your insurer, if applicable.

  • Fire Protection Contractor shall take adequate and reasonable precautions to protect the Work against damage by fire and smoke. For example, without limitation, Contractor shall do the following:

  • PICKET LINE PROTECTION 1. All employees covered under this Agreement have the right to refuse to cross or work behind a picket line unless same is declared illegal by the Labour Relations Board.

  • Streamcourse Protection “Streamcourses” that are subject to provisions of this Section are shown on Sale Area Map. Unless otherwise agreed, the following measures shall be observed to protect Streamcourses:

  • Housing The receiving institution will guide incoming mobile participants in finding accommodation, according to the requirements of the Erasmus Charter for Higher Education. Information and assistance can be provided by the following persons and information sources: Institution [Erasmus code] Contact details (email, phone) Website for information I MACERAT01 xxx@xxxxx.xx xxxx://xxx.xxxxx.xx/en/students/incoming- students/erasmus-incoming-students/erasmus- incoming-students/accommodation-1 __________

  • Departmental Seniority Departmental seniority is defined as the length of employment within the employee’s current department. Department seniority shall accrue as of the first day of employment or transfer into a new department.

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