Total and Permanent Disability Benefits. If you become totally and permanently disabled while insured under the program and prior to age sixty-five (65), through either sickness or injury, an amount equal to the amount of your life insurance (not in excess of twenty-four thousand dollars ($24,000.00) if you are insured for more than that amount) will be payable to you at a rate of eighteen dollars ($18.00) per month for each one thousand dollars ($1000.00) of life insurance for a maximum duration of sixty (60) months. Such installments, as paid, shall reduce the amount payable at death. The first payment will be made three (3) months after the receipt by the Insurance Company of due proof of such disability. If death occurs while you are so disabled and before age sixty-five (65), any remaining amount payable in installments plus the excess amount, if any, will be payable as a death benefit. If, while you are so disabled, death occurs on or after age sixty-five (65), any remaining amount payable in installments, plus the excess amount, if any, over twenty-four thousand dollars ($24,000.00) will be payable as a death benefit.
Total and Permanent Disability Benefits. Effective September 17, 2008, Total and Permanent Disability Benefits are modified as follows:
Total and Permanent Disability Benefits. If you become totally and permanently disabled while insured under the program and prior to age 65, through either sickness or injury, an amount equal to the amount of your life insurance (not in excess of $24,000 if you are insured for more than that amount) will be payable to you at a rate of $18.00 per month for each $1000 of life insurance for a maxi- mum duration of 60 months. Such installments, as paid, shall reduce the amount payable at death. The first payment will be made 3 months after the receipt by the Insurance Company of due proof of such dis- ability. If death occurs while you are so disabled and before age 65, any remaining amount payable in installments plus the excess amount if any will be payable as a death benefit. If, while you are so dis- abled, death occurs on or after age 65, any remaining amount payable in installments, plus the excess amount, if any, over $24,000 will be payable as a death benefit.
Total and Permanent Disability Benefits. If, prior to his Retirement or other termination of employment with the Employer, the Plan Administrator determines that a Participant has incurred a Total and Permanent Disability, the Participant shall be deemed to have retired by reason of Total and Permanent Disability, and his Account shall become 100% vested, regardless of the number of his Years of Vesting Service. The Plan Administrator shall determine the date as of which such Retirement shall become effective. The Trustee, in accordance with the instructions of the Plan Administrator and in accordance with the provisions of this Article, shall take such action as may be necessary to distribute the value of the Participant's Account(s) to the Participant commencing at such time, and in one of the methods, provided in Sections 10.5 and 10.7 hereof.
Total and Permanent Disability Benefits. If you become totally and permanently disabled while insured under the program and prior to age through either sickness or injury, an amount equal to the amount ofyourlife insurance if you are insured for more than that amount) will be payable to you at a rate of per month for each life insurance for a maximum duration of months. Such installments, as paid, shall reduce the amount payable at death. The first payment will be made months after the receipt by the Insurance Company of due proof of such disability. If death occurs while you are so disabled and before age any remaining amount payable in installments plus the excess amount if any will be payable as a death benefit. If, while you are so disabled, death occurs on or after age any remaining amount payable in installments, plus the excess amount, if any, over will be payable as a death benefit. Accidental Death Dismemberment Insurance The Company will pay of the premium for the Accidental Death Dismemberment Insurance. In addition to any other benefits which an employee may receive, benefits will be paid in the event of death by accident or injury by accident which results in the losses as outlined in the policy the insurance carrier, a summary of which ap- pears in the Employee Group Insurance Plan booklet. The maximum amount payable under this plan is equal to the employee’s Basic Life Insurance benefit. Life Insurance Conversion Upon application to the Insurance Company within days after your Life Insurance terminates, you may arrange to continue your Life Insurance protec- tion under an individual policy, for an amount not greater than the amount of Basic Life Insurance you have under the program at the time of such termina- tion, without medical examination. Such individual policy may be on any one of the forms of policy issued by the insurance company other than a policy of term insurance or one which provides disability benefits or special benefits in the event of accidental death, and will be issued at the rate applicable at your age and class of risk at the time. Any such individual life insurance policy will be- come effective at the end of the 31-day conversion period referred to, and if you should die during such period, whether or not you have applied for such policy, an amount equal to the amount of Basic Life Insurance in force under the program immediately prior to termination or reduction will be payable to your beneficiary.
Total and Permanent Disability Benefits
