Benefit Option definition

Benefit Option means any benefit listed in Exhibit A and for which an Eligible Employee may elect to make pre-tax contributions pursuant to Article VI and Article XII of the Plan.

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Benefit Option means an option for coverage within an underlying Component Benefit (such as a particular “benefit package” within a group health plan).

Benefit Option means the options described in the Benefit Options section of this contract.

Examples of Benefit Option in a sentence

• Only You may revoke or change a Pre-selected Death Benefit Option.

• Revocations of and changes to a Pre-selected Death Benefit Option are effective only after being recorded by the Company.

• Death Benefit Option This field contains the option chosen by the insured for death proceeds payment.

• The Company will pay the death benefit consistent with Your Pre-selected Death Benefit Option unless the Internal Revenue Code requires otherwise, or Your election requires payment over a period that exceeds the Beneficiary's life expectancy.

• The Company will pay the death benefit consistent with Your Pre-selected Death Benefit Option unless the Internal Revenue Code requires otherwise, or Your election requires payment over a period that exceeds the Beneficiary's life expectancy as determined by the Company.

More Definitions of Benefit Option

Benefit Option means an option for coverage within an underlying Component Benefit (such

Benefit Option means a Qualified Benefit (including any separate option for coverage under an underlying accident or health plan) or a Permitted Taxable Benefit that is offered under a Component Plan.

Benefit Option means the option selected by the Client to benefit from an increase, decrease or both increase/decrease in the Reference Future

Benefit Option means a benefit available to a Participant under the Plan as set forth in the Summary Plan Description. Benefit Options may include any welfare benefits excludable from the Employee's taxable income under applicable sections of the IRS Code and Income Tax Regulations. To be an eligible Benefit Option qualifying for pre-tax treatment under the Plan, a benefit must be specifically listed in the Summary Plan Description currently in force.

Benefit Option means the medical plan, dental plan, vision plan, and health flexible spending account (HFSA).

Benefit Option means a qualified benefit under Code section 125(f) that is offered to a Participant under a Component Plan as described in Appendix A, including any separate options for coverage under an underlying accident or health plan.

Benefit Option means the option chosen by the Policyholder at Policy inception, as specified in the Policy Schedule. The benefits offered under the Policy will be based on the option chosen at inception and cannot be changed later on during the Policy Term.