Income benefit definition

Income benefit means a payment made to an employee for a compensable injury. The term does not include a medical benefit, death benefit, or burial benefit.

Income benefit means all payments made under this Title to the providers of medical care, rehabilitation services and hospital care.

Income benefit means, in a policy that is not lapsed or paid-up [both as per Section 6a) & Section 6b) below], an additional benefit payable on the death of the Life Assured over a 10 year period (if the Variant chosen under the Policy is “Super”) equal to a monthly instalment as mentioned in the Schedule. That is, the monthly instalment is equal to Sum Assured divided by 120. The details are as given in Section 4a) below.

Examples of Income benefit in a sentence

• Extension of Benefits If the policy or Long Term Disability Income benefit terminates and you are totally disabled at such termination, the Insurer continues to be liable as though the coverage remained in force.

• Coverage Ceases Eligibility for Long Term Disability Income benefit coverage terminates at the earlier of age 65, the depletion of the Hour Bank Account, the date of retirement, or if you are no longer a Member in good standing with Local Union 2085.

• In particular the agreement must state how the residential subsidy portion of the Person’s MSD Work and Income benefit will be paid to the Provider, the amount that is left (which will be retained by the Person), and what goods and services are the Person’s responsibility to fund with that portion of their MSD Work and Income benefit.

• The Insurer shall not be liable for benefits after termination of either the contract or Long Term Disability Income benefit once a replacing Insurer is bound contractually or as a matter of law.

• Application for this Conversion Privilege must be made within 31 days after the last day of the calendar month in which the Survivor Income benefit Insurance is canceled.

More Definitions of Income benefit

Income benefit means an amount payable monthly during the Payout Period as specified in the Schedule;

Income benefit means an amount, as specified in the Schedule, payable during the Payout Period as per the frequency selected by You;

Income benefit means an amount, as specified in the Schedule, payable during the Income Benefit Period as per the Income Benefit Payout Frequency selected by You. No Income Benefit is available under the Wealth For Milestones Variant;

Income benefit means the benefit payable on the death or ATPD of the Life Assured (whichever is earlier) calculated in accordance with Section 5 a ii) below.

Income benefit means all payments made under this Title to the employee or his dependents.

Income benefit means an amount, as specified in the Schedule, payable upon maturity of the Policy till the date of death of last surviving Insured Persons under this Policy, as per the frequency selected by You;

Income benefit means the benefit which is payable on survival of the Life Assured after the Premium Payment Term,except the last Policy year, as specified in Part C of the Policy Document.