Accelerated Death Benefit Rider definition

Accelerated Death Benefit Rider. With this rider, the policyholder can receive up to 100% of their death benefit discounted with interest if the life expectancy is 12 months or less. Specify Monthly Deductions Rider: This rider allows the policyholder to specify to take monthly deductions out of a particular account in the policy. Mortality and Expense Risk Rates Rider: This rider guarantees that the mortality and expense risk rate will be zero for years greater than and equal to 21.
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Accelerated Death Benefit Rider. North American Re shall participate in its share of any death benefits that are accelerated.
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Accelerated Death Benefit Rider. This is an automatic rider that provides for an acceleration of a portion of the death benefit upon diagnosis of a terminal illness. There are no reinsurance premiums for this benefit. Reinsurer will pay their proportionate share of any discounted, accelerated benefits.
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Examples of Accelerated Death Benefit Rider in a sentence

  • Benefit payments under an accelerated death benefit rider are intended to qualify for favorable tax treatment.Disclosure for Term Life Insurance PoliciesIf you are applying for term life insurance, this disclosure is a brief description of the Accelerated Death Benefit Rider and the effects on your policy.

  • The Accelerated Death Benefit Rider provides an option to accelerate a portion of the eligible death benefit and receive a payment.

  • Once this rider has been terminated, another Accelerated Death Benefit Rider cannot be attached to the policy.

  • I have been provided, either in paper or electronically, with the Accelerated Death Benefit Rider Disclosure and the Notices.

  • Termination of Coverage: The Accelerated Death Benefit Rider will automatically terminate when the Policy to which it is attached terminates or lapses or matures or is continued under one of the nonforfeiture options; or when the Accelerated Death Benefit is paid; whichever occurs first.

  • Applicable to policies with the Chronic Illness Rider.)By your signature below, you acknowledge that certain changes to your policy or riders may terminate the Chronic Illness Accelerated Death Benefit Rider (“Rider”).

  • The Accelerated Death Benefit Rider for Chronic Illness pays 92% of the insurance proceeds less a $150 administration fee ($100 in FL) in lieu of the benefit payable at death.

  • Effect of Accelerated Death Benefit Rider on Death Benefit, Policy Values and Premium The base Policy will be subject to reductions that reflect the Unadjusted Payment as of the Benefit Effective Date.

  • The online enquiry should be submitted before enquiry Submission End date.

  • However, the Impact of Long-Term Care Benefit on Policy Surrender Value and Accelerated Death Benefit Rider Values and Impact of Long-Term Care Rider Benefit Payments on the Death Benefit sections of this Rider and the LTC Benefit Payout Account will survive termination of this Rider for purposes of determining the Policy Surrender Value for Surrenders and loans and the death benefit.

Related to Accelerated Death Benefit Rider

  • 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.

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

  • 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.

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

  • 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.

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

  • Annual Benefit Limit means the maximum amount of benefits paid by the Company to the Policy Holder in a Policy Year irrespective of whether any limits of any benefit items stated in the Benefit Schedule have been reached. The Annual Benefit Limit is counted afresh in a new Policy Year.

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

  • Refund beneficiary means an individual nominated by a qualified participant or a former qualified participant under section 66 to receive a distribution of the participant's accumulated balance in the manner prescribed in section 67.

  • 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.

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

  • 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).

  • Disability benefit recipient means a member who is receiving a disability benefit.

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

  • Lifetime Benefit Limit means the maximum amount of benefits paid by the Company to the Policy Holder cumulatively since the inception of these Terms and Benefits, irrespective whether any limits of any benefit items stated in the Benefit Schedule have been reached or whether the Annual Benefit Limit in a Policy Year has been reached.

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

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

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

  • Medical Benefits Schedule means the Medicare Schedule of Benefits produced by the Department of Health to which all fees and benefits relate for inpatient hospital services.

  • Change in Control Benefits means the following benefits:

  • Disability Retirement Date means the first day of the month following the last day of paid employment;

  • Disability retirement for plan 1 members, means the period

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

  • Qualified Preretirement Survivor Annuity means an annuity which is payable for the life of the Participant's surviving spouse.

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