Insurance Benefit. The Employer may elect to provide incidental life insurance benefits for insurable Participants who consent to life insurance benefits by signing the appropriate insurance company application form. The Trustee will not purchase any incidental life insurance benefit for any Participant prior to an allocation to the Participant's Account. At an insured Participant's written direction, the Trustee will use all or any portion of the Participant's nondeductible voluntary contributions, if any, to pay insurance premiums covering the Participant's life. This Section 11.01 also authorizes the purchase of life insurance, for the benefit of the Participant, on the life of a family member of the Participant or on any person in whom the Participant has an insurable interest. However, if the policy is on the joint lives of the Participant and another person, the Trustee may not maintain that policy if that other person predeceases the Participant. The Employer will direct the Trustee as to the insurance company and insurance agent through which the Trustee is to purchase the insurance contracts, the amount of the coverage and the applicable dividend plan. Each application for a policy, and the policies themselves, must designate the Trustee as sole owner, with the right reserved to the Trustee to exercise any right or option contained in the policies, subject to the terms and provisions of this Agreement. The Trustee must be the named beneficiary for the Account of the insured Participant. Proceeds of insurance contracts paid to the Participant's Account under this Article XI are subject to the distribution requirements of Article V and of Article VI. The Trustee will not retain any such proceeds for the benefit of the Trust. The Trustee will charge the premiums on any incidental benefit insurance contract covering the life of a Participant against the Account of that Participant. The Trustee will hold all incidental benefit insurance contracts issued under the Plan as assets of the Trust created under the Plan.
Insurance Benefit. 22.1 If the insured capital has become due and payable, the insurer shall pay out as soon as the insurer has received documents which, in its opinion, prove that and to whom any payment is due. The insurer has the right to retain these documents as its property.
Insurance Benefit. 11.01 11.02 Limitation on Life Insurance Protection............ 11.01 11.03 Definitions........................................ 11.02 11.04 Dividend Plan...................................... 11.02 11.05 Insurance Company Not a Party to Agreement......... 11.02 11.06 Insurance Company Not Responsible for Trustee's Actions.................................. 11.03 11.07 Insurance Company Reliance on Trustee's Signature.......................................... 11.03 11.08 Acquittance........................................ 11.03 11.09 Duties of Insurance Company........................ 11.03
Insurance Benefit. 11.01 11.02 Limitation on Life Insurance Protection..................11.01 11.03 Definitions..............................................11.02 11.04
Insurance Benefit. The District shall provide medical coverage for the Superintendent pursuant to the same rate as all other employees of the District. Any costs above the payment provided for herein shall be paid by the Superintendent.
Insurance Benefit. (hereinafter the “Benefit”) - a benefit provided by the Insurer to the Entitled Person under the conditions set out in Article 10 hereof.
Insurance Benefit. 11.01 11.02 Limitation on Life Insurance Protection . . . . . . . . 11.01 11.03 Definitions . . . . . . . . . . . . . . . . . . . . . . 11.02 11.04 Dividend Plan . . . . . . . . . . . . . . . . . . . . . 11.02 11.05 Insurance Company Not a Party to Agreement. . . . . . . 11.03 11.06 Insurance Company Not Responsible for Trustee's Actions . . . . . . . . . . . . . . . . . . . . . . . . 11.03 11.07 Insurance Company Reliance on Trustee's Signature . . . 11.03 11.08 Acquittance . . . . . . . . . . . . . . . . . . . . . . 11.03 11.09
Insurance Benefit. Eligible employees with at least ten (10) years of continuous employment in the District (#107, 108, 111 or 112) and who timely elect to retire within the meaning of the Illinois Municipal Retirement Fund (IMRF) before age sixty-five may continue to purchase health insurance for individual or family coverage, life insurance and dental from the District as per the conditions in the insurance booklet at 100% of the group rate cost of such insurance until age 65 or until the employee becomes eligible for Medicare, whichever is later in age or, if such becomes available, until the employee becomes eligible for insurance as a result of retirement pursuant to the IMRF, whichever occurs first.
Insurance Benefit. 2.1. In the case of an insured event, the Insurer shall pay the Insurance Benefit for the following:
Insurance Benefit. 2.1. In the case of establishment of the entitlement to the Insurance Benefit, the Entitled Person will receive the amount specified in the Insurance Agreement, exceeding the excess stipulated in the Insurance Agreement for each day of hospitalisation for a maximum period of 30 days.
