Covered Life Amount definition

Covered Life Amount means an amount that is specified in the Annuity Exhibits for your Annuity Form as the “Covered Life Amount.”

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Covered Life Amount equals an amount that depends on whether you are younger or older than sixty-two years and one month (“62 + 1”). If you are younger than 62+1, the Covered Life Amount equals the “Pre-62+1 Pension Amount” specified in the Annuity Exhibit for such Covered Life. If you are older than 62+1, the Covered Life Amount equals the “Post-62+1 Pension Amount” amount specified in the Annuity Exhibit for such Covered Life. If you have a Special Benefit Rider (as specified in the Annuity Exhibits), then the “Covered Life Amount” will be increased after your sixty-fifth (65th) birthday. The increase will start on the first day of the month after your 65th birthday. If your 65th birthday falls on the first day of a month, the increase will start on that day. The amount of the increase will be the amount specified as the “Special Benefit” in the Annuity Exhibits. During your lifetime, your Contingent Life will not receive the benefits of any Special Benefit Rider that he or she may have. Such benefits start after your death. If you have a Level Benefit Rider (as specified in the Annuity Exhibits), then the “Covered Life Amount” will be increased by Three Hundred Dollars ($300.000) after your sixty-fifth (65th) birthday. The increase will start on first day of the month after your 65th birthday. If your 65th birthday falls on the first day of a month, the increase will start on that day. During your lifetime, we do not owe your Contingent Life any benefits under the Level Benefit Rider. If your Contingent Life has a Level Benefit rider, we only owe the related payments after you die. If a portion of your Pre 62+1 Covered Life Amount is attributable to “Disability Temporary Benefits” as specified in the Annuity Exhibits, then the following applies. You may be eligible to receive social security disability benefits from the Federal Government. In any month that you receive such benefits before you reach 62+1, we do not owe you such Disability Temporary Amount and we may deduct any overpayments made to you.

Covered Life Amount means an amount that is specified in the Table of Information.

Examples of Covered Life Amount in a sentence

During your lifetime, we will make monthly payments to you equal to your Covered Life Amount.
The first number is the Covered Life Amount payable to you pursuant to the foregoing paragraph.
If the number payment made is less than such Guaranteed Number of Payments, then we will pay the Covered Life Amount to the designated Beneficiary for your Annuity Form.
We will make monthly payments to you equal to your Covered Life Amount.
If a portion of your Pre 62+1 Covered Life Amount is attributable to a “Disability Temporary Amount” as specified in the Table of Information, then the following applies.
If you are older than 62+1, the Covered Life Amount equals the “Post 62+1 Pension Amount” specified in the Table of Information.
The amount of the Deferred Covered Life’s Annuity Payment will be equal to the Covered Life Amount that would have been payable had payments actually commenced on the unchanged Annuity Commencement Date.
If a portion of your Pre 62+1 Covered Life Amount is attributable to “Disability Temporary Amount” as specified in the Annuity Exhibits, then the following applies.
The amount of the Annuity Payment payable on the earlier Annuity Commencement Date will be equal to the Covered Life Amount multiplied by the appropriate conversion factor determined from the Tables of this Contract.
If you are younger than 62+1, the Covered Life Amount equals the “Pre 62+1 Pension Amount” specified in the Table Appendix 1.3 - 3 of Information.

More Definitions of Covered Life Amount

Covered Life Amount means an amount that is specified in the Annuity Exhibits for the Covered Life’s Annuity Form as the “Covered Life Amount.”

Covered Life Amount means an amount that is specified in the Table of Information. Method of Payment: We will make all payments in U.S. dollars. Payees may elect to receive payments either by check or by direct deposit to a bank or other financial institution chosen by the Payee. Checks are mailed to the last known address for the Payee as shown on our records. Direct deposit may be selected only by using a form supplied for such purpose. By written notice, a Payee may request a change of the mailing address we use for payments by check. By using a form we supply, a Payee may change the bank or other financial institution receiving direct payments. Payees must deliver these items to Prudential as described below under "Correspondence." We may change these procedures by sending a letter to the Payee. We will use the address last shown on our records.

Covered Life Amount means an amount that is specified in the Table of Information. We will make all payments in U.S. dollars. Payees may elect to receive payments either by check or by direct deposit to a bank or other financial institution chosen by the Payee. Checks are mailed to the last known address for the Payee as shown on our records. Direct deposit may be selected only by using a form supplied for such purpose. By written notice, a Payee may request a change of the mailing address we use for payments by check. By using a form we supply, a Payee may change the bank or other financial institution receiving direct payments. Payees must deliver these items to Prudential as described below under "Correspondence." OCC-RL300-WindowSingleLife 2 Window Single Life Annuity CONFIDENTIAL We may change these procedures by sending a letter to the Payee. We will use the address last shown on our records.

Covered Life Amount means an amount that is specified in the Annuity Exhibits for the Covered Life’s Annuity Form as the “Covered Life Amount.” “Data Finalization Date” means MM DD, YYYY or such other date as may be determined by mutual written consent of the Contract-Holder and Prudential.

Covered Life Amount means the amount that is specified as the “Covered Life Amount” for the relevant Covered Life in the Annuity Exhibits, as amended from time to time[, or the amount determined in accordance with Section 2.3 and Section 2.4].