Life insurance means insurance coverage on human lives including benefits of endowment and annuities, and may include benefits in the event of death or dismemberment by accident and benefits for disability income and unless otherwise specifically excluded, includes individually issued annuities.
Life insurance means contracts that incorporate mortality risk, including annuity and pure endowment contracts, and as may be specified in the valuation manual.
Life insurance means that term as defined in section 602 of the insurance code of 1956, Act No. 218 of the Public Acts of 1956, being section 500.602 of the Michigan Compiled Laws.
Examples of Life insurance in a sentence
The Employer shall pay one-hundred percent (100%) of the premiums for the Group Life Insurance Plan.
The District will provide $50,000 in Term Life Insurance and Accident Death and Dismemberment (AD&D) coverage to employees who regularly work at least 40 hours a week at no cost to the employee.
The loan is intended to qualify for exclusion from income to the extent permitted under Internal Revenue Code Section 72(p), and MassMutual Ascend Life Insurance Company may change the terms of the loan or administer the loan at any time as needed to comply with federal tax law.
The Employer agrees to deduct from the wages of an employee who is a member of the Union deductions for the Trustmark Universal Life Insurance with Long Term Care.
The Employer shall provide a Group Life Insurance Plan for regular full time and part time employees in accordance with the terms and conditions of the Plan.
More Definitions of Life insurance
Life insurance means every insurance upon the lives of human beings, and every insurance appertaining thereto, including the granting of endowment benefits, additional benefits in the event of death by accident, additional benefits to safeguard the contract from lapse, accelerated payments of part or all of the death benefit or a special surrender value upon (A) diagnosis of terminal illness defined as a life expectancy of twelve months or less, (B) diagnosis of a medical condition requiring extraordinary medical care or treatment regardless of life expectancy, (C) certification by a licensed health care practitioner of any condition which requires continuous care for the remainder of the insured’s life in an eligible facility or at home when the insured is chronically ill as defined by Section 7702(B) of the Internal Revenue Code and regulations thereunder, provided the accelerated payments qualify under Section 101(g)(3) of the Internal Revenue Code and all other applicable sections of federal law in order to maintain favorable tax treatment, or (D) certification by a licensed health care practitioner that the insured is chronically ill as defined by Section 7702(B) of the Internal Revenue Code and regulations thereunder, provided the accelerated payments qualify under Section 101(g)(3) of the Internal Revenue Code and all other applicable sections of federal law in order to maintain favorable tax treatment and the insurer that issues such policy is a qualified long term care insurance carrier under Section 4980c of the Internal Revenue Code or provide a special surrender value, upon total and permanent disability of the insured, and optional modes of settlement of proceeds. “Life insurance” also includes additional benefits to safeguard the contract against lapse in the event of unemployment of the insured. Amounts paid the insurer for life insurance and proceeds applied under optional modes of settlement or under dividend options may be allocated by the insurer to one or more separate accounts pursuant to section four thousand two hundred forty of this chapter.
Life insurance means basic life insurance paid for by the SEBB organization, as well as supplemental life insurance offered to and paid for by school employees for themselves and their dependents.
Life insurance means basic life insurance paid for by the em- ploying agency, as well as supplemental life insurance offered to and paid for by employees for themselves and their dependents. Life insur- ance for eligible retirees includes retiree term life insurance of- fered to and paid for by retirees.
Life insurance means a contract that incorporates mortality risk, including annuity and pure endowment contracts, and as may be specified in the valuation manual.
Life insurance means life insurance as defined pursuant to N.J.S.A. 17B:l17-3
Life insurance means contracts that incorporate mortality risk,
Life insurance means a contract of insurance upon the lives of human beings. The following contracts are considered to be contracts of life insurance within the meaning of this definition: