Accelerated death benefit definition

Accelerated death benefit means the advance payment of some or all of the death proceeds payable under a life insurance policy:
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Accelerated death benefit means the amount of advanced Death Benefit payment under Clause D.4;
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Accelerated death benefit means the advance payment of some or all of the death proceeds payable under a certificate:
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Examples of Accelerated death benefit in a sentence

  • Accelerated death benefit payments due to chronic illness are subject to limits imposed by the federal government and any amounts received in excess of these limits are includible in gross income.

  • Type of product Accelerated death benefit riders and life insurance policies with accelerated death benefit provisions are primarily mortality risks rather than morbidity risks.

  • Accelerated death benefit provisions [shall not] that contain exclusions or restrictions as to coverage which are not also exclusions or restrictions in the [base] policy.

  • Accelerated death benefit provisions [shall not] that require [that] the cause of the terminal condition first manifest itself or be diagnosed after issuance of the [individual] policy [or rider] or the group certificate.

  • This is followed by a benefit extension provision.• Tail design has greatest appeal among producers, as it is least costly option, simplest to explain and has benefits increase as account value grows.• Tax treatment of tail design is not as clear as coinsurance design that there is level of risk.• Coinsurance and pool designs have their own advantages.• Accelerated death benefit rider with payments based on current death benefit can become an implicit future purchase option.

  • Accelerated death benefit provisions [shall not] that contain a waiting period requirement (except in the case of presumed, as opposed to diagnosed, terminal illness).

  • Accelerated death benefit provisions shall describe the effect of exercise of the option to accelerate payment on the death benefit premiums, expenses and interest charges if applicable, cash values, loan values and coverage on another insured, where applicable.

  • Valeria Piacentini, “Islam: Iranian and Saudi Arabian Regional and Geopolitical Competition,” in Anoushiravan Ehteshami, ed., From the Gulf to Central Asia: Players in the New Great Game, (Exeter: University of Exeter Press, 1994), p.

  • These include:o Accidental dismemberment benefito Safety belt benefito Repatriation benefito Felonious assault benefito Accelerated death benefit optionReduction in Benefit AmountsThe benefit amounts provided to members covered under the Group Life Insurance Program are subject to a reduction factor.

  • Accelerated death benefit provisions [shall not require] that upon exercise of the option to accelerate [payment of a portion of the] less than 100 percent of the death benefits [less than the full amount of such benefits] require the insured to forfeit[s] the residual coverage.


More Definitions of Accelerated death benefit

Accelerated death benefit means proceeds payable in part or in full under a life insurance policy to a policyowner or certificateholder during the lifetime of the insured:
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Accelerated death benefit or “ADB” means a benefit that will allow the employee to receive an advance on the amount of his death benefit once he has been diagnosed as terminally ill. [A person is terminally ill if the person:
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Accelerated death benefit as used in this chapter, means a benefit that is added to a life insurance policy to provide for the advance payment of any part of the death proceeds payable upon the occurrence of a qualifying event.
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Related to Accelerated death benefit

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Termination Benefit means the benefit set forth in Article 7.

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Change in Control Benefit means the benefit described in Section 2.4.

  • Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).

  • Normal Retirement Benefit means the benefit described in Section 2.1.

  • Severance Benefit means the payment of severance compensation as provided in Article III.

  • Actuarial equivalent means a benefit of equal value when

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • Early Retirement Benefit means the retirement benefit payable to a member following early

  • Retirement Benefit means the benefit set forth in Article 5.

  • Severance from Service Date means the earlier of:

  • Vested Benefits means amounts that are vested or that Executive is otherwise entitled to receive, without the performance by Executive of further services or the resolution of a contingency, under the terms of or in accordance with any investment and savings plan or retirement plan (including any plan providing retiree medical benefits) of the Company or its affiliates, and any ERPs or ESPs related thereto, and any deferred compensation or employee stock purchase plan or similar plan or program of the Company or its affiliates.

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

  • Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.

  • Disability Benefit means the benefit set forth in Article 8.

  • Termination Benefits means the benefits described in Section 4.1(b).

  • Change in Control Benefits means the following benefits:

  • Annual Benefit means an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).

  • Accrued Benefits shall include the following amounts, payable as described herein: (i) all base salary for the time period ending with the Termination Date; (ii) reimbursement for any and all monies advanced in connection with the Executive's employment for reasonable and necessary expenses incurred by the Executive on behalf of the Company and its Affiliates for the time period ending with the Termination Date; (iii) any and all other cash earned through the Termination Date and deferred at the election of the Executive or pursuant to any deferred compensation plan then in effect; (iv) notwithstanding any provision of any bonus or incentive compensation plan applicable to the Executive, a lump sum amount, in cash, equal to the sum of (A) any bonus or incentive compensation that has been allocated or awarded to the Executive for a fiscal year or other measuring period under the plan that ends prior to the Termination Date but has not yet been paid (pursuant to Section 5(f) or otherwise) and (B) a pro rata portion to the Termination Date of the aggregate value of all contingent bonus or incentive compensation awards to the Executive for all uncompleted periods under the plan calculated as to each such award as if the Goals with respect to such bonus or incentive compensation award had been attained; and (v) all other payments and benefits to which the Executive (or in the event of the Executive's death, the Executive's surviving spouse or other beneficiary) may be entitled as compensatory fringe benefits or under the terms of any benefit plan of the Employer, including severance payments under the Employer's severance policies and practices in the form most favorable to the Executive that were in effect at any time during the 180-day period prior to the Effective Date. Payment of Accrued Benefits shall be made promptly in accordance with the Employer's prevailing practice with respect to clauses (i) and (ii) or, with respect to clauses (iii), (iv) and (v), pursuant to the terms of the benefit plan or practice establishing such benefits.

  • Last Monthly Benefit means the gross Monthly Benefit payable to the Insured Employee immediately prior to death. Any reductions for Other Income Benefits, or for earnings the Insured Employee received for Partial Disability Employment, will not apply.

  • Maximum Benefit means the maximum benefit amount of each of the benefits covered under this Policy as stated in the Schedule of Benefits.

  • Lump Sum Payment means, collectively, the lump-sum payments that may be payable to Executive pursuant to the first sentence of Subsection 6(b)(iii) and pursuant to Subsection 6(c)(ii)(B).

  • Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;