Lifetime Payment definition

Lifetime Payment means the amount determined by the Executive Committee to become a Lifetime Member in lieu of paying Annual Dues.
View Source

Examples of Lifetime Payment in a sentence

  • If there are two Covered Persons and they divorce or one of them dies, the Optimal Withdrawal Amount will continue to be calculated, the Protected Lifetime Payment will be determined, and any new Payment Factor Table due to a Reset Date will be determined, as if no divorce or death had occurred, and this rider terminates upon the death of the last surviving Covered Person.

  • Reports — While this rider is in effect, the statements we provide under the Contract’s ‘Reports’ provision will include information for the statement period regarding the Benefit Cost, the Optimal Withdrawal Amount, and the Protected Lifetime Payment.

  • Protected Lifetime Payment — The annual amount payable in fixed monthly installments under the Protected Lifetime Payment Annuity Option beginning on the Maximum Annuity Date.

  • Protected Lifetime Payment — The Protected Lifetime Payment is determined as follows: If no Reset Date has occurred, the Protected Lifetime Payment will be equal to the Optimal Withdrawal Amount as of the Issue Date.

  • Subject to the provisions for suspension or termination of disability benefits contained in Appendix “C”, a Regular Disability Benefit (Lifetime Payment) shall be payable for the life of the Participant (and Qualified Spouse, if any); a Regular Disability Benefit (48-Month Extended Disability Payment) shall be payable for a maximum of forty-eight (48) months.

  • Option E Joint Lifetime Payment Option (Available as a Fixed Income option and as a Variable Income option).

  • Subject to the provisions for suspension or termination of disability benefits contained in Appendix “C”, a Special Disability Benefit (Lifetime Payment) shall be payable for the life of the Participant (and Qualified Spouse, if any); a Special Disability Benefit (48-Month Extended Disability Payment) shall be payable for a maximum of forty-eight (48) months.

  • Protected Lifetime Payment — The Protected Lifetime Payment is determined as follows: If no Reset Date has occurred, the Protected Lifetime Payment will be equal to the Optimal Withdrawal Amount as of the Rider Effective Date.

  • Except for a Special Disability Benefit (Lifetime Payment) described in paragraph (a) which is not terminated or suspended before the Participant attains Normal Retirement Age, a Special Disability Benefit paid under the provisions of this Section shall not be in lieu of any pension payable under Sections 5.02 - 5.07 of the Plan.

  • Except for a Regular Disability Benefit (Lifetime Payment) described in paragraph (a) which is not terminated or suspended before the Participant attains Normal Retirement Age, a Regular Disability Benefit paid under the provisions of this Section shall not be in lieu of any pension payable under Sections 5.02 - 5.07 of the Plan.