Benefit definition

Benefit means anything reasonably regarded as pecuniary gain or pecuniary advantage, including benefit to any other person in whose welfare the beneficiary has a direct and substantial interest.
Benefit means the entitlement due to the principal policy holder in respect of approved expenses incurred in accordance with the terms in the fund rules.
Benefit means the extent or degree of service the beneficiaries are entitled to receive as per the rules on the subject.

Examples of Benefit in a sentence

  • In the event of such Diagnosis, the Covered Condition Benefit will not be paid.

  • The company has Defined Benefit Plan namely Gratuity and Leave encashment for all employees, the liability for which is determined on the basis of an actuarial valuation at the end of the year.

  • Benefit determinations are subject to applicable member contract language.

  • Any contributions not made out of Benefit Dollars will be deducted from the employee’s pay on a pre-tax basis.

  • Eligible beneficiaries may elect to receive a monthly Survivor’s Alternate Benefit for life or a return of the member’s contributions.


More Definitions of Benefit

Benefit means, in relation to a Party, a benefit, pension or allowance for which provision is made in the legislation of that Party, and includes any additional amount, increase or supplement that is payable, in addition to that benefit, pension or allowance but for Australia, does not include any benefit, payment or entitlement under the law concerning the superannuation guarantee;
Benefit means any gain or advantage to the beneficiary, including any gain or advantage to a third person pursuant to the desire or consent of the beneficiary.
Benefit or "Benefit Options" means any of the optional benefit choices available to a Participant as outlined in Section 4.1.
Benefit means the direct or indirect receipt or provision (as relevant) of money or money's worth (other than prize money and/or contractual payments to be made under endorsement, sponsorship or other contracts);
Benefit means, in relation to a Party, a benefit for which provision is made in the legislation of that Party, and includes any additional amount, increase or supplement that is payable, in addition to that benefit, to or in respect of a person who qualifies for that additional amount, increase or supplement under the legislation of that Party;