Benefit trigger definition

Benefit trigger means a contractual provision in a policy of long-term care insurance that conditions the payment of benefits on a determination of the insured’s ability to perform activities of daily living and on cognitive impairment, or on other conditions of the insured as specified in the policy. For purposes of a qualified long-term care insurance contract, “benefit trigger” means a determination by a licensed health care practitioner that an insured is a chronically ill individual. For purposes of this definition, “licensed health care practitioner” means the same as defined in section 7702B(c)(4) of the Internal Revenue Code.

Benefit trigger means a contractual provision in a long term care insurance pol- icy that conditions the payment of benefits on an insured’s inability to perform activities of daily living or on an insured’s cognitive impairment. For qualified long term care in- surance, the “benefit trigger” is the determi- nation that an insured is a chronically ill individual, as defined in section 7702B(c) of the Internal Revenue Code.

Benefit trigger means a contractual provision in the insured's policy of long-term care insurance conditioning the payment of benefits on a determination of the insured's ability to perform activities of daily living and on cognitive impairment. For purposed of a tax-qualified long-term care insurance contract, as defined in section Section 7702B of the Internal Revenue Code of 1986, as amended, "benefit trigger" shall include a determination by a licensed health care practitioner that an insured is a chronically ill individual.

Examples of Benefit trigger in a sentence

• Should any party holding a lien against the Project succeed to the ownership thereof by virtue of foreclosure or conveyance in lieu of foreclosure, such party shall have no obligation or liability to Broker under the Agreement, nor shall Owner.

• The insurer shall consider such information and affirm or overturn its Benefit trigger determination.

• WACChapter 284-50 WAC WASHINGTON DISABILITY INSURANCEREGULATIONSThe benefits under this policy are summarized below.• Type of coverage:• Benefit amount:• Benefit trigger (identify any periods of no coverage284-50-440 Standard disclosure form for individual policies—Ill-ness-triggered fixed payment insurance, hospital confinement fixed payment insurance, or other fixed payment insurance.

• Benefit trigger, for the purposes of independent review, means a contractual provision in the insured’s policy of long-term care insurance conditioning the payment of benefits on a determination of the insured’s ability to perform activities of daily living and on cognitive impairment.

• The decision of the independent review organization with respect to whether the insured met the Benefit trigger will be final and binding on the insurer.

More Definitions of Benefit trigger

Benefit trigger means a contractual provision in a

Benefit trigger means a contractual provision in a long term care insurance policy that conditions the payment of benefits on an insured’s inability to perform activities of daily living or on an insured’s cognitive impairment. For qualified long term care insurance, the “benefit trigger” is the determination that an insured is a chronically ill individual, as de- fined in section 7702B(c) of the Internal Revenue Code.

Benefit trigger means a contractual provision in a long term care insurance pol-

Benefit trigger means a contractual provision in a long term care insurance policy that

Benefit trigger means a contractual provision in a policy of long-term care insurance conditioning the payment of benefits on a determination of the insured’s ability to perform activities of daily living, or on a cognitive impairment. For purposes of a qualified long-term care insurance contract, “Benefit trigger” shall include a determination by a licensed health care practitioner that an insured is a chronically ill individual.

Benefit trigger means a contractual provision in a long term care

Benefit trigger means a contractual provision in the insureds policy conditioning the payment of benefits on a determination of the insureds ability to perform activities of daily living and on cognitive impairment.