Insured Benefit definition

Insured Benefit means the proceeds payable under a Policy of Insurance covering a Member or group of Members.

Insured Benefit means benefit payable in accordance with Part C of this Group Policy on occurrence of Insured Event which is as per the Loan Schedule given in the Certificate of Insurance.

Insured Benefit means in relation to an Eligible Member, subject to rule 16.2, the amount of any insurance we hold for a Member and is paid to us by the insurer in the event of the death or Total and Permanent Disablement (as applicable) of the Member. The amount of an Insured Benefit in respect of a MySuper Member will be the amount:

Examples of Insured Benefit in a sentence

• Schedule means the information page that contains the details of the Insured, Benefit, Premium and Period of Insurance attached to this Policy.

• For insured benefit programs the section of the Accounting Manual entitled "Special Regulations for Non-University Insured Benefit Program" applies.

• Contractor will evaluate and negotiate annual renewals for the Insured Benefit Plans and coordinate carrier information necessary for Board approval.

• The question as to whether the Participant’s or Member’s circumstances constitute ill-health in respect of an Insured Benefit shall be decided by the insurance company underwriting the Insured Benefit.

• The Insurer is entitled to exercise a claim to the difference between the paid-out and the reduced Insured Benefit from the person in whose favour it was paid.

More Definitions of Insured Benefit

Insured Benefit means the proceeds of any Benefit arranged in respect of a Participant or Member at the request of the Participant or Member by the Trustee pursuant to Clause 11.10.1(a).

Insured Benefit means a death, disability or funeral benefit or any other contingent benefit which does not form part of the retirement benefit, for which the retirement fund holds an insurance policy;

Insured Benefit in respect of a Member means the amount (if any) in addition to the Member's Account (if payable) which is payable on the death, Total and Permanent Disablement or sickness or illness of the Member and arising from any Policy effected by the Trustee.

Insured Benefit means the proceeds of any insurance policy effected by the Trustee on the life of a Member or ADF Member or against the Temporary Disablement or Permanent Disablement of a Member or ADF Member and any transfers to the Member's or ADF Member's Individual Account after the date of the Member's or ADF Member's death, Permanent Disablement or Temporary Disablement from the Mortality Fluctuation Reserve in accordance with Clause 4.8(b) or Clause 9.22, as the case may be. The amount of the Insured Benefit will be determined by the Plan Specifications applicable to the Member or ADF Member, and where a Member or ADF Member is not acceptable at standard rates by the Trustee or any Insurer the Trustee may reduce the Insured Benefit by such amount as the Trustee considers appropriate.

Insured Benefit means any Benefit provided under the Plan through a group policy or contract with a Provider.

Insured Benefit means the death in service lump sum benefit and the disability lump sum benefit to be provided in terms of section 24;

Insured Benefit means the proceeds of any policy of insurance taken out by the Trustee on the life of a Member or for Terminal Illness, Total and Permanent Disablement or for Total and Temporary Disablement of a Member whether a group policy or individual policy;