Termination of the participant’s eligibility under the group insurance contract Sample Clauses

Termination of the participant’s eligibility under the group insurance contract. Participants who are no longer eligible under the group insurance contract may use the conversion privilege without having to present evidence of insurability. A written application for conversion must be submitted to the Insurer within 31 days of the date of conversion eligibility in order to convert for the value of their life insurance or that of their dependents. The insurance amount available for conversion to an individual life insurance contract is the lesser of the following amounts: the total of the participant’s or spouse’s and dependent children’s life insurance amounts on the date the conversion privilege is exercised; or $400,000; or the amount set out in any legal provisions, if this amount is higher than the amount above; or the difference between the participant’s total life insurance amounts at the time the conversion privilege is exercised and the amount obtained under the group insurance plan of the retirees offered by the Insurer (RIIRS). The participant’s or spouse’s and dependent children’s life insurance amounts remain in force until the date the conversion privilege is exercised, up to the 31-day time frame set out above. Participants cannot exercise their conversion privilege with regard to any amount of life insurance for themselves or their dependents that has been lost as a result of a reduction due to a change in age or a transfer from one class of eligible employees to another.
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Termination of the participant’s eligibility under the group insurance contract. Participants who are no longer eligible under the group insurance contract may use the conversion privilege without having to present evidence of insurability. A written application for conversion must be submitted to the Insurer within 31 days of the date of conversion eligibility in order to convert for the value of their life insurance or that of their dependents. The insurance amount available for conversion to an individual life insurance contract is the lesser of the following amounts:
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Related to Termination of the participant’s eligibility under the group insurance contract

  • Disability Retirement If, as a result of your incapacity due to physical or mental illness, You shall have been absent from the full-time performance of your duties with the Company for 6 consecutive months, and within 30 days after written notice of termination is given You shall not have returned to the full-time performance of your duties, your employment may be terminated for "Disability." Termination of your employment by the Company or You due to your "Retirement" shall mean termination in accordance with the Company's retirement policy, including early retirement, generally applicable to its salaried employees or in accordance with any retirement arrangement established with your consent with respect to You.

  • Special Maternity Allowance for Totally Disabled Employees (a) An employee who:

  • Dependent Eligibility To be eligible to enroll as a Covered Dependent, a person must be:

  • Death, Retirement or Disability Executive’s employment shall terminate automatically upon Executive’s death or Retirement during the Employment Period. For purposes of this Agreement, “Retirement” shall mean normal retirement as defined in the Company’s then-current retirement plan, or if there is no such retirement plan, “Retirement” shall mean voluntary termination after age 65 with ten years of service. If the Company determines in good faith that the Disability of Executive has occurred during the Employment Period (pursuant to the definition of Disability set forth below), it may give to Executive written notice of its intention to terminate Executive’s employment. In such event, Executive’s employment with the Company shall terminate effective on the 30th day after receipt of such written notice by Executive (the “Disability Effective Date”), provided that, within the 30 days after such receipt, Executive shall not have returned to full-time performance of Executive’s duties. For purposes of this Agreement, “Disability” shall mean a mental or physical disability as determined by the Board of Directors of the Company in accordance with standards and procedures similar to those under the Company’s employee long-term disability plan, if any. At any time that the Company does not maintain such a long-term disability plan, “Disability” shall mean the inability of Executive, as determined by the Board, to perform the essential functions of his regular duties and responsibilities, with or without reasonable accommodation, due to a medically determinable physical or mental condition which has lasted (or can reasonably be expected to last) for twelve workweeks in any twelve-month period. At the request of Executive or his personal representative, the Board’s determination that the Disability of Executive has occurred shall be certified by two physicians mutually agreed upon by Executive, or his personal representative, and the Company. Failing such independent certification (if so requested by Executive), Executive’s termination shall be deemed a termination by the Company without Cause and not a termination by reason of his Disability.

  • Verification of Employment Eligibility By executing this Agreement, Consultant verifies that it fully complies with all requirements and restrictions of state and federal law respecting the employment of undocumented aliens, including, but not limited to, the Immigration Reform and Control Act of 1986, as may be amended from time to time, and shall require all subconsultants and sub-subconsultants to comply with the same.

  • Long Term Disability Benefit In the event an employee, while covered under this plan, becomes totally disabled as a result of an accident or a sickness, then, after the employee has been totally disabled for seven (7) months, including periods approved in Section 1.3(a) and (c), he/she shall be eligible to receive a monthly benefit as follows:

  • Life Insurance Upon Retirement 32.1 An employee who retires from the service of the Corporation subsequent to August 1, 2001, will, provided he is 55 years of age or over and has not less than 10 years' cumulative compensated service, be entitled to the sum of $8,000.00 payable to his estate upon his death.

  • TERMINATION UPON RETIREMENT Termination of Executive’s employment based on “

  • Benefit Eligibility For purposes of the Benefit Plan entitlement, common-law and same sex relationships will apply as defined.

  • Maintaining Eligibility for Employer Contribution The employer's contribution continues as long as the employee remains on the payroll in an insurance eligible position. Employees who complete their regular school year assignment shall receive coverage through August 31.

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