Optional Benefit Sample Clauses

Optional Benefit. You may choose to replace any fixed extended insurance that has a net cash value by variable reduced paid-up insurance. To make this choice, you must do so in writing to us in a form that meets our needs, not more than three months after the date the contract goes into default. You must also send the contract to us to be endorsed. Cash Value Option.--You may surrender this contract for its net cash value. The net cash value at any time is the cash value at that time less any contract debt. To surrender this contract, you must ask us in writing in a form that meets our needs. You must also send the contract to us. Here is how we will compute the cash value for surrender of the contract or for its continuation under extended insurance or variable reduced paid-up insurance:

Optional Benefit. You may choose to replace any extended insurance that has a cash value by reduced paid-up insurance. To make this choice, you must do so in writing to us and in a form that meets our needs, not more than three months after the due date of the premium in default. You must also send the contract to us to be endorsed.

Optional Benefit. Plan (OBP)‌ The County shall provide each eligible full-time employee a contribution of $6,240 per fiscal year, prorated over 24 pay periods, toward the purchase of benefits included within the optional Benefit Plan (OBP). Each prorated contribution shall not be deemed earned until the pay period in which it is paid. These benefits are specifically defined in the OBP. Provisions generally include the following: A. El Dorado County Health Care Account - Eligible employees may elect to receive medical and dental benefits under the County OBP. B. Supplemental Life Insurance - An employee eligible under this section may use the Optional Benefits Plan to purchase additional life insurance subject to the provision of the OBP and respective life insurance plans.

Optional Benefit. You may choose to replace any fixed extended insurance that has a net cash value by variable reduced paid-up insurance. To make this choice, you must do so in writing to us in a form that meets our needs, not more than three months after the date the contract goes into default. You must also send the contract to us to be endorsed. Cash Value Option.--You may surrender this contract for its net cash value. The net cash value at any time is the cash value at that time less any contract debt. To surrender this contract, you must ask us in writing in a form that meets our needs. You must also send the contract to us. here is how we will compute the case value for surrender of the contract or for its continuation under extended insurance or variable reduced paid-up insurance: 1. If the contract is not in default: The cash value on surrender at any time in the first ten contract years is the contract fund, minus a surrender charge, consisting of a deferred sales charge and a deferred underwriting and issue

Optional Benefit. ‌ Under the Public Employees Retirement System, the Port provides optional benefits. The Human Resources Department should be consulted for a current list of optional benefits.

Optional Benefit. Franchised Dealer Repair

Optional Benefit. An employee may elect to receive a reduced retirement allowance with provision that such reduced retirement allowance or such part thereof as may be specified by the employee in his notice of election (either 3/4, 2/3, 1/2/ or 1/3) shall be continued after his death to his spouse named in such election, for so long as his spouse lives. The reduced retirement allowance shall be in such an amount as the City deems to be the actuarial equivalent of the retirement allowance that would have been payable had not the election been made. The employee must file a written notice of election of this option with the City prior to the time at which he becomes eligible for retirement, provided that such written notice of election is filed within ninety (90) days before the employee becomes eligible for the retirement. He/she may be required to pass a physical examination at the time of making such election. It is the intention of this option that the City's outlay for retirement benefits shall not be increased and that the amount payable to the employee and his spouse under the option shall be the equivalent as accurately determined of what the employees would have received if he had not elected the option. This option is also intended to be patterned after such option available in the Connecticut State Municipal Employees Retirement Fund.

Optional Benefit. Plan (OBP)‌ The County shall provide each eligible full-time employee a contribution of six thousand, two hundred forty dollars ($6,240) per fiscal year, prorated over twenty-four (24) benefit pay periods, toward the purchase of benefits included within the optional Benefit Plan (OBP). Each prorated contribution shall not be deemed earned until the pay period in which it is paid. Effective the first full pay period of the 2019 health plan year, the OBP will only be available as a cash payment, which is taxable income, that employees may use at their discretion to offset the cost of optional benefits. Optional benefits are specifically defined in the OBP. Provisions generally include the following: A. El Dorado County Health Care Account - Eligible employees may elect to receive medical and dental benefits under the County OBP. B. Supplemental Life Insurance – Eligible employees may elect to purchase additional life insurance subject to the provision of the OBP and respective life insurance plans. C. Dependent Care – Eligible employees may elect to set up an account for reimbursing dependent care expenses subject to the provisions of the OBP. D. Un-reimbursed Health Care – Eligible employees may elect to establish an account for reimbursing uninsured health care expenses subject to the provisions of the Plan. ▇. ▇▇▇▇ - An employee eligible under this section, who has elected to receive the employee’s optional benefit or portion thereof in cash, may receive cash, which is taxable income, subject to the provision of the Plan. Employees who have elected to receive all or a portion of their optional benefit in cash shall receive such cash in equal prorated amounts over twenty-four (24) benefit pay periods; provided, however, that the employee must have been in paid status during a pay period to receive that pay period's prorated optional benefit amount. F. Part-time Employee - A part-time employee, who on December 31, 1989, was provided with the full OBP as a full-time employee, shall continue to be eligible for the full OBP. 1. An employee who is hired on or after January 1, 1990, and whose regular work schedule as documented on the Payroll Personnel Form is between 64- 79 hour per pay period, will be entitled to the same OBP for a full-time employee. 2. A part-time employee who is hired on or after January 1, 1990, and whose regular work schedule as documented on the Payroll Personnel form is between 40-63 hours per pay period, will be entitled to receive seve...

Optional Benefit. 4 – DELAY OF CHECKED-IN BAGGAGE a) The Company will pay the Coverage amount if the delivery of the Insured Person’s Checked-In Baggage which has been entrusted to the Common Carrier is delayed by more than consecutive hours as specified in the Certificate of Insurance from the Insured Person’s arrival at the Place of Destination specified on his valid ticket during the Period of Insurance. b) Exclusions applicable to Optional Benefit 4- Delay of Checked-in Baggage: (i) Any delay which does not exceed the time period specified in this Optional Benefit. (ii) Any loss for which a Claim has already been made under ‘Loss of Checked in Baggage’; (iii) Any delay in delivery of the Checked-In Baggage arising out of or resulting from detention or confiscation of the baggage by the Common Carrier or customs or any government or other agencies; (iv) Any delay attributable to damage to the Checked-In Baggage warranting an examined delivery by the Common Carrier. c) Documents to be submitted in support of Claim: (i) Property irregularity report issued by the appropriate authority stating the scheduled time of delivery and actual time of delivery of the Checked-In Baggage; (ii) Voucher of the Common Carrier for the delay in delivery of the Checked-In Baggage; (iii) Copies of correspondence exchanged, if any, with the Common Carrier in connection with the delay in delivery of the Checked-In Baggage.