Insurable Participant definition

Insurable Participant means a Participant to whom an insurance company, upon an application being submitted in accordance with the Plan, will issue insurance coverage, either as a standard risk or as a risk in an extra mortality classification.
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Insurable Participant means a Participant who satisfies underwriting standards for the issuance of life insurance determined by the insurance company selected by the Company to provide the pre-distribution death benefit described in Article 8.
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Insurable Participant means a Participant to whom an insurance
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Examples of Insurable Participant in a sentence

  • Insurable Participant means a Participant to whom an insurance company, upon an application being submitted in accordance with the Plan, will issue insurance coverage, either as a standard risk or as a risk in an extra mortality classification.

  • If an Insurable Participant shall die on or after his Payment Eligibility Date, his Beneficiary shall receive no benefits under the Policy and any death benefits thereunder shall be paid to the Company.

  • Notwithstanding anything contained herein to the contrary, any benefits otherwise payable with respect to an Insurable Participant under this Plan shall be reduced by the value of benefits received by the Insurable Participant's Beneficiary under the Policy.

  • The Committee shall make such determination as soon as practicable after the Participant makes any Deferral Election, Rollover Election, or Election to Change Specification for Unallocated and Future Deferrals and Company Contributions in which the Participant elects the Fixed Benefit Option; and if the Participant is an Insurable Participant, with respect to any Deferrals, Discretionary Contributions, or Rollover Amounts allocated to the Fixed Benefit Option, shall promptly notify the Participant.

  • The determination of whether a Participant is an Insurable Participant shall be made by the Committee; provided, however, that the Committee shall designate a Participant as an Insurable Participant only if an insurer acceptable to the Committee would, at standard premium rates or higher rates acceptable to the Committee, insure the life of the Participant.

  • Insurable: A Participant is Insurable with respect to Deferrals, Discretionary Contributions, or Rollover Amounts, as the case may be, if the Committee has delivered a written statement that the Participant is an Insurable Participant with respect to such Deferrals or Rollover Amounts.

  • The Company shall own and maintain one or more life insurance policies on the life of each Insurable Participant (collectively, the "Policy") each with a -10- 12 death benefit no less than the death benefit payable under this Section 8.1. Until an employee of the Company (other than a Participant who has already been determined not to be an Insurable Participant) completes an application for the Policy, any deferral elections made by the employee pursuant to Article 4 hereof shall be void.

  • The Company shall own and maintain one or more life insurance policies on the life of each Insurable Participant (collectively, the "Policy").

  • If an Insurable Participant receives a distribution pursuant to Section 7.1.2, for purposes of Section 8.1, the first twelve months in which he receives allocations to his Account shall be deemed to be the first Plan Year after such distribution in which he receives allocations under Section 5.1 or 5.2 and, for purposes of Section 8.1, the Insurable Participant's Account shall include only amounts allocated to the Insurable Participant's Account following such distribution and prior to his date of death.

  • Executive has been previously designated as an Insurable Participant by the Committee for purposes of the SSIP.

Related to Insurable Participant

  • Eligible Participant means an employee, officer, consultant or director of the Company or any Affiliate.

  • FTR Participant means any Market Participant that provides or is required to provide Collateral in order to participate in PJM’s FTR auctions.

  • Current Participant means a Class Member who has an Active Account in one or both the Plans as of August 5, 2020.

  • Inactive Participant means each Participant (other than a Retired Participant, Deceased Participant or Disabled Participant) who is not in active service as an Outside Director and is not actively employed by a Participating Company.

  • Disabled Participant with respect to a loan if it has no right to exercise any voting or other control rights with respect to such loan (other than the right to approve amendments to the material economic terms of such loan).

  • Active Participant means a Participant who has satisfied the eligibility requirements under Section 3 and who has at least 1,000 Hours of Service during the current Plan Year. However, a Participant shall not qualify as an Active Participant unless (i) he is in active Service with an Employer as of the last day of the Plan Year, or (ii) he is on a Recognized Absence as of that date, or (iii) his Service terminated during the Plan Year by reason of Disability, death, or Normal Retirement.

  • Requesting Participant means a Participant initiating an RFQ.

  • Qualified Participant means any Participant or Former Participant who has completed ten (10) Years of Service as a Participant and has attained age 55.

  • Terminated Participant means a person who has been a Participant, but whose employment has been terminated other than by death, Total and Permanent Disability or retirement.

  • Former Participant means a person who has been a Participant, but who has ceased to be a Participant for any reason.

  • Participating employee means an employee whose election to participate in a Plan has been approved by the employer.

  • Other Participant means a cooperative project participant other than the United States.

  • Plan Participant means a person who is eligible to receive, and is receiving, a pension benefit from the Plan.

  • Eligible Executive means an employee of the Company selected as being eligible to participate in this Plan under Section C.1.a.

  • Retired Participant means a person who has been a Participant, but who has become entitled to retirement benefits under the Plan.

  • Comparable Employee means as defined in Regulation 5(4) of the AWR being an employee of the Hirer who:

  • Eligible Participants means persons who, at a particular time, are employees, officers, consultants, or directors of the Company or its subsidiaries;

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

  • First Tier Participant refers to the participant who has entered into a covered transaction with a grantee or subgrantee of Federal funds (such as the prime or general contractor). “Lower Tier Participant” refers any participant who has entered into a covered transaction with a First Tier Participant or other Lower Tier Participants (such as subcontractors and suppliers).

  • Participant has the meaning specified in Section 10.06(d).

  • Exchange Participant means (a) the Bank which is a person registered as a China Connect Exchange Participant (as defined in the SEHK China Connect Rules) by SEHK; or (b) where the context requires, any China Connect Exchange Participant (as defined in the SEHK China Connect Rules).

  • Designated Participant means a key Employee of the Company or any other Participating Company who is designated by the Committee in writing to participate in the Program.

  • Non-Highly Compensated Participant means any Participant who is neither a Highly Compensated Employee nor a Family Member.

  • Voting Participant has the meaning specified in Section 10.06(d).

  • Eligible Employee means full-time and part-time employees in the bargaining unit who have completed four hundred and fifty (450) hours of service and who are not prohibited from contributing to the Plan by legislation or the Plan rules because of their age or because they are in receipt of a pension from the Plan.

  • Covered Executive means any “executive officer” of the Company as defined under Rule 10D-1.