Death Benefit Provided definition

Death Benefit Provided by This Policy We will pay the death benefit proceeds to the beneficiary when we receive proof of the death of the last surviving insured. At issue, the death benefit equals this policy’s initial face amount. Afterwards, the death benefit may increase or decrease on any day. depending on this policy’s investment results but will never be less than this policy’s face amount. The duration for which the death benefit is in effect may vary with the investment results but will never be less than this policy’s Guarantee Period. For details on death benefit proceeds and the Guarantee Period see Insurance Benefits.
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Death Benefit Provided by This Policy We will pay the death benefit proceeds to the beneficiary when we receive proof of your death. This policy has a Guaranteed Insurance Amount. It is equal to the policy’s face amount in the first policy year. It increases by 3% a year thereafter. During the first policy year, the death benefit equals the Guaranteed Insurance Amount. Afterwards, the death benefit may increase or decrease on each policy anniversary, depending on the investment return for this policy. Regardless of investment return, the death benefit can never be less than the Guaranteed Insurance Amount.
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Examples of Death Benefit Provided in a sentence

  • Adopted 01/18/1991.• 31 Pa. Code, Chapter 90g, Sections 90g.1—90g.16, Indi- vidual Health Care Facility Benefits Provided as Accel- erated Death Benefit or Settlement of Death Benefit; Provided by Riders or Built into Policies.

  • Adopted 01/18/1991.• 31 Pa. Code, Chapter 90f, Sections 90f.1—90f.16, Indi- vidual Imminent Death/Lifetime Health Care Facility Confinement Benefits Provided as Accelerated Death Benefit or Settlements of Death Benefit; Provided by Riders or Built into Policies.

  • DEATH BENEFIT Death Benefit Provided by the Contract If the Annuitant dies while the contract and this certificate are in effect and before the Annuity Commencement Date, the Company, upon receipt of Due Proof of Death of the Annuitant, will pay a death benefit to the Beneficiary in accordance with this Death Benefit provision.

  • He was asked to clarify the basis on which the prospective tenant would take on a lease.

  • This conversion rate is based on the publication of the SDR value by the International Monetary Fund (IMF) on July 31, 2020.

Related to Death Benefit Provided

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • Disability benefit recipient means a member who is receiving a disability benefit.

  • Additional gap medical benefits means the benefits (if any) payable in respect of medical expenses that are more than the schedule fee and which otherwise meet the requirements of the fund’s no or known gap policy, provided always that the medical expenses relate to a professional service that:

  • Refund beneficiary means an individual nominated by a qualified participant or a former qualified participant under section 66 to receive a distribution of the participant's accumulated balance in the manner prescribed in section 67.

  • extended reduction (qualifying contributory benefits means a reduction under this scheme for which a person is eligible in accordance with paragraph 88 or 95;

  • Medical Benefits Schedule means the Medicare Schedule of Benefits produced by the Department of Health to which all fees and benefits relate for inpatient hospital services.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Additional Benefits means those benefits in addition to the rights and remedies available under the Australian Consumer Law.

  • Qualified Preretirement Survivor Annuity means an annuity which is payable for the life of the Participant's surviving spouse.

  • Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;

  • Gap medical benefits means the benefits (if any) payable in respect of medical expenses that are less than, greater than or equal to the schedule fee, provided always that the medical expenses relate to a professional service that:

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Disability Benefit means the benefit set forth in Article 8.

  • Termination Benefits means the benefits described in Section 4.1(b).

  • Disability benefits means any cash payments which are payable to a covered individual for all or part of a period of disability pursuant to P.L.1948, c.110 (C.43:21-25 et al.).

  • Termination Benefit means the benefit set forth in Article 7.

  • Public benefit means making capital available, or facilitating the availability of capital, to businesses in this state that have 750 or fewer employees, the intent of which is to create or retain employment opportunities for residents of this state, stabilize or increase the tax base of this state, or support the redevelopment of facilities for use by small businesses.

  • Annuity Benefit means a benefit payable by us as described in Part VII.

  • Income beneficiary means a person to whom net income of a trust is or may be payable.

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

  • Annuity means a stated sum payable periodically at stated times during life or during a specified or ascertainable period of time under an obligation to make the payments in return for adequate and full consideration in money or money's worth.

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • Medical Benefits means the monthly fair market value of benefits provided to the Employee and the Employee’s dependents under the major medical, dental and vision benefit plans sponsored and maintained by the Company, at the level of coverage in effect for such persons immediately prior to the Employee’s termination of employment date. The “monthly fair market value” of such benefits shall be equal to the monthly cost as if such persons elected COBRA continuation coverage at such time at their own expense.

  • Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).

  • Retirement Benefit means the benefit set forth in Article 5.