Waiver of Premium Benefit Sample Clauses

Waiver of Premium Benefit. After You have satisfied the Elimination Period and are receiving benefits under the Policy, the premium payments which become due will be waived. You do not have to pay any premium payments until You are no longer receiving benefits. If Your premium payment mode is other than monthly, Your premium payment mode will be changed to monthly. If Your premium payment mode is other than monthly when You begin to actually receive benefits, any premium which You have already paid for any coverage during the period for which premiums are waived will be returned to You.
Sample 1Sample 2Sample 3See All (6)
AutoNDA by SimpleDocs
Waiver of Premium Benefit a benefit provided pursuant to a Policy wherein SAFECO agrees to relinquish its right to Policy Premiums in the event of the Policy owner’s disability until such disability is ended.
Sample 1Sample 2
Waiver of Premium Benefit. The reinsurance premium for the Accelerated Care Rider only will be waived while a claim to the rider is active.
Sample 1Sample 2
Waiver of Premium Benefit. Once you satisfy the Waiver of Premium Waiting Period, we will waive the payment of premiums for this Policy and any riders attached to this Policy for as long as you continue to be so eligible for benefits. We will refund any premium paid for coverage that extends beyond the date you become eligible for the Waiver of Premium Benefits. To continue to be eligible for the Waiver of Premium Benefits, you must receive care/assistance that is covered by this Policy at least 21 days per Calendar Month. If you receive care/assistance fewer than 21 days per Calendar Month, premiums will not be waived for that month. C alendar Month Begins on the first day of the month and ends on the last day of the month. You need to satisfy the Waiver of Premium Waiting Period only once during the lifetime of this Policy. If, after becoming eligible for the Waiver of Premium Benefit, you have one or more Calendar Months during which you did not receive at least 21 days of care/assistance that is covered by this Policy, premiums will again be waived beginning with the first of the month in which you resume receiving at least 21 days of care/assistance that is covered by this Policy. If you are receiving benefits under the Alternative Plan of Care Benefit, you will not be eligible for this Waiver of Premium Benefit. W aiver of Premium Waiting Period Number of days you must receive care/assistance that is covered by this Policy (even if subject to the Deductible Period), before renewal premiums will be waived. The Waiver of Premium Waiting Period is 90 days. ADVANCE NOTIFICATION If you notify us 10 or more days before care/assistance begins:
Sample 1
Waiver of Premium Benefit is an optional rider benefit which may be included in a Single Life Policy at the Start Date, and provides for the Company to waive the Policyholder’s obligation to pay premiums should a Life Assured become unable to work due to seriously illness or disability. This benefit is subject to additional premium.
Sample 1
Waiver of Premium Benefit a benefit provided pursuant to a Policy wherein Farm Bureau agrees to relinquish its right to Policy Premiums in the event of the Policyowner's disability until such disability is ended.
Sample 1
Waiver of Premium Benefit. This Benefit waives Your premiums after You have satisfied the Elimination Period and You are receiving benefits. If You have satisfied the Elimination Period and are receiving benefits under this Policy, We will waive any premium coming due beginning on the first day for which benefits are actually payable under this Policy and continuing until no benefits have been payable under this Policy for thirty (30) consecutive days. If Your premium payment mode is other than monthly We will change Your premium payment mode to monthly. If Your premium payment mode is other than monthly when You begin to actually receive benefits under this Policy, We will refund the portion of any premiums You have already paid which are attributable to coverage during the period for which benefits are payable. You must start paying premiums again beginning with premiums coming due on the first day after the first consecutive thirty-day period during which no benefits are payable under this Policy.
Sample 1
AutoNDA by SimpleDocs
Waiver of Premium Benefit a benefit provided pursuant to a Policy wherein USAA agrees to relinquish its right to Policy Premiums in the event of the Policyowner's disability until such disability is ended.
Sample 1

Related to Waiver of Premium Benefit

  • Waiver of Premium In the event an employee becomes totally disabled before age seventy (70), there shall be a waiver of premium for all life insurance coverage that the employee had at the time of disability.

  • Payment of Premiums Each Borrower shall punctually pay all premiums or other sums payable in respect of the obligatory insurances effected by it and produce all relevant receipts when so required by the Security Trustee.

  • Payment of Premium Unless otherwise agreed in writing by the Parties, the Buyer shall be obligated to pay the Premium related to an Option no later than its Premium Payment Date.

  • Allocation of Premiums No premium shall be paid under the Bond unless the Board of Trustees of the Trust, including a majority of those Trustees who are not “interested persons” of the Trust as defined by Section 2(a)(19) of the 1940 Act, shall approve the portion of the premium to be paid by the Trust, on behalf of each Fund. The premium payable on the Bond shall be allocated between the Trust and the Manager as determined by the Board of Trustees of the Trust.

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

  • 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.

  • Payment of Benefit The Company shall pay the annual benefit to the Executive in 12 equal monthly installments commencing with the month following the Executive’s Normal Retirement Date, paying the annual benefit to the Executive for a period of 15 years.

  • Amount of Benefit The annual benefit under this Section 3.1 is the Normal Retirement Benefit amount described in Section 2.1.1.

  • Waiver of Subrogation, Reimbursement and Contribution Notwithstanding anything to the contrary contained in this Guaranty, Guarantor hereby unconditionally and irrevocably waives, releases and abrogates any and all rights it may now or hereafter have under any agreement, at law or in equity (including, without limitation, any law subrogating the Guarantor to the rights of Lender), to assert any claim against or seek contribution, indemnification or any other form of reimbursement from Borrower or any other party liable for payment of any or all of the Guaranteed Obligations for any payment made by Guarantor under or in connection with this Guaranty or otherwise.

  • Acknowledgment of Waiver of Claims under ADEA Executive understands and acknowledges that Executive is waiving and releasing any rights Executive may have under the Age Discrimination in Employment Act of 1967 (“ADEA”), and that this waiver and release is knowing and voluntary. Executive understands and agrees that this waiver and release does not apply to any rights or claims that may arise under the ADEA after the Effective Date of this Agreement. Executive understands and acknowledges that the consideration given for this waiver and release is in addition to anything of value to which Executive was already entitled. Executive further understands and acknowledges that Executive has been advised by this writing that: (a) Executive should consult with an attorney prior to executing this Agreement; (b) Executive has 21 days within which to consider this Agreement; (c) Executive has 7 days following Executive’s execution of this Agreement to revoke this Agreement pursuant to written notice to the General Counsel of the Company; (d) this Agreement shall not be effective until after the revocation period has expired; and (e) nothing in this Agreement prevents or precludes Executive from challenging or seeking a determination in good faith of the validity of this waiver under the ADEA, nor does it impose any condition precedent, penalties, or costs for doing so, unless specifically authorized by federal law. In the event Executive signs this Agreement and returns it to the Company in less than the 21 day period identified above, Executive hereby acknowledges that Executive has freely and voluntarily chosen to waive the time period allotted for considering this Agreement.

Time is Money Join Law Insider Premium to draft better contracts faster.