Covered Life definition

Covered Life has the meaning ascribed to such term in the Group Annuity Contract.

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Covered Life means each person listed on the Annuity Exhibits as entitled to a periodic payment specified in the Annuity Exhibits. A Covered Life is not a Contingent Life or a Beneficiary as such terms are used in this Contract. A Covered Life is a third-party beneficiary of this Contract and has the rights set forth herein. A Representative of a Covered Life shall have the rights of a Covered Life hereunder.

Covered Life. “Covered life” means a subscriber, policyholder, certificate holder, spouse, dependent child or any other individual insured under an insurance policy or whose benefits are administered by a third party administrator licensed under ORS 744.702. [2009 c.595 §1194]

Examples of Covered Life in a sentence

• The surviving spouse becomes the new Contract Owner and the new Covered Life on the effective date of the spousal continuation.

• Any Contract change before the Annuity Commencement Date which causes a change in the Covered Life will result in the recalculation of the benefits provided under this rider.

• During your lifetime, we will make monthly payments to you equal to your Covered Life Amount.

• The following are the effects of a change in a Covered Life: The rider will terminate if the age of the oldest Covered Life after the Covered Life change is greater than the issue age limitation of the rider in effect at the time of the Covered Life change.

• The below options apply if the age of the oldest Covered Life after the Covered Life change is less than or equal to the issue age limitation of the rider in effect at the time of the Covered Life change.

• The LBP may be continued after the death of any Covered Life if spousal continuation is elected.

• If the first partial Surrender occurs after completing the [fifth] year from the rider effective date, whether prior to or after the Lifetime Income Eligibility Date, the WP will reset if a new age band has been reached on the birthday of the youngest Covered Life.

• We may revoke the withdrawal feature of this rider as provided under the following provisions of this rider: Covered Life Change and Investment Restrictions.

• The first number is the Covered Life Amount payable to you pursuant to the foregoing paragraph.

• The below options apply if the age of the oldest Covered Life after the Covered Life change is less than or equal to the issue age limitations of the rider in effect at the time of the Covered Life change.

More Definitions of Covered Life

Covered Life means each Immediate Covered Life or Deferred Covered Life listed on the Annuity Exhibits as entitled to a periodic payment specified in the Annuity Exhibits, but does not include any Contingent Life or any Beneficiary. A Covered Life is not a party to this Contract and has no rights hereunder, except those expressly conferred on it in Sections 1.9 and 1.10. A Representative of a Covered Life shall have the rights of a Covered Life hereunder.

Covered Life means each person listed on the Annuity Exhibits as entitled to a periodic payment specified in the Annuity Exhibits, but does not include any Contingent Life or any Beneficiary. A Covered Life is a third-party beneficiary of this Contract and has the rights set forth herein.

Covered Life means a person shown on the Annuity Exhibits as entitled to receive one or more payments specified on the Annuity Exhibits, but does not include any Contingent Life, Beneficiary[, Lump Sum Beneficiary] [, Refund Beneficiary] or any Alternate Payee entitled to payments under a Shared Payment QDRO. [The term Covered Life includes both Immediate Covered Lives and Deferred Covered Lives] A Covered Life is a third-party beneficiary to this Contract and has the rights set forth herein.

Covered Life means a person who has health insurance coverage.

Covered Life means each person listed on the Annuity Exhibits as entitled to a periodic payment specified in the Annuity Exhibits. A Covered Life is not a Contingent Life or a Beneficiary as such terms are used in this Contract. A Covered Life is a third-party beneficiary of this Contract and has the rights set forth herein. A Representative of a Covered Life shall have the rights of a Covered Life hereunder. “Dedicated Account” means the [**********], an insurance company separate account the assets of which are owned by Prudential. This separate account may only hold assets supporting the payment obligations of Prudential under this Contract. The assets of this separate account will be held by Prudential in one or more custody accounts at entities independent of Prudential that only hold assets allocated to this separate account. After consummation of a small account conversion in accordance with Section 1.10 (“Small Account Conversion”), the assets of this separate account shall be transferred to the Commingled Account.