Loss of Job definition

Loss of Job means any job loss of Insured Person due to diagnosis of any of the covered Critical Illnesses OR Permanent Total Disability occurring due to an accident during the policy period with benefit amount equivalent up to maximum of three (3) equated monthly instalments (EMIs) payable corresponding to the loan insured. The pay-out for this benefit is as fixed at the outset and shall not be affected by any midterm change in EMI / interest.
Sample 1Sample 2Sample 3

Examples of Loss of Job in a sentence

  • Our total liability under this Policy for payment of any and all Claims in the aggregate arising under Section III during the Policy Period shall not exceed the Loss of Job (Due to Illness/ Accident) Sum Insured specified in the Policy Schedule / Certificate of Insurance.

  • EMI must fall due in respect of the covered loan after the commencement of Loss of Job and prior to the reinstatement of employment with the same employer or new employer.

  • Prescription from the medical practitioner stating the line of medical treatment and city where medical treatment needs to be sought and its unavailability in the current city of treatment Loss of Job due to Accident a.

  • Any Hospitalisation as a result of Accident/ disease/ claim under Section I (Critical Illness), Section II (Personal Accident) and/ or Section III (Loss of Job) of the policy contracted during the Grace Period will not be admissible under the Policy.

  • The payout for Loss of Job benefit is as fixed at the outset and shall not be affected by any midterm change in EMI/interest rates, irrespective of whether You/ Insured person has opted for Fixed Sum Insured or Reducing Sum Insured.

  • We will pay, maximum three (3) Equated Monthly Installment (EMI) in respect of the covered loan as shown in the Policy Schedule/ Certificate of Insurance in the event of Loss of Job of the Primary Insured during the Policy Period.

  • Quarantine for confirmed diagnosis of the covered condition.For the purpose of this cover, Loss of Job means involuntary termination from employment of the insured or his/her permanent dismissal or temporary suspension from employment imposed on him/her by the employer during the policy period due to any of the reason listed above.

  • The Company hereby agrees, to pay, on occurrence of Loss of Job as stated under this Section, in relation to the Insured, the EMI Amount(s) falling due in respect of the Loan (Loan account number as stated in Schedule of this Policy) after the commencement of Loss of Job till the reinstatement of employment with the same employer or new employer subject to a maximum of Sum Insured as stated under Schedule of this Policy.

  • Loss of Job is an optional benefit and insured is covered for 3 EMI of his/her loan over and above the sum insured for Critical Illness and Personal Accident sections.

  • We will pay up to the specified limit as mentioned in the Policy schedule in case of Loss of Job of the Insured Person.

Related to Loss of Job

  • Loss of Speech means the disability in articulating any three of the four sounds which contribute to the speech such as the Labial sounds, the Alveololabial sounds, the Palatal sounds and the Velar sounds or total loss of vocal cord or damage of speech center in the brain resulting in Aphasia.

  • Loss of Use means the total and irrecoverable loss of function of an arm, hand, foot, leg or thumb and index finger of the same hand provided such loss of function is continuous for 12 consecutive months and such loss of function is thereafter determined on evidence satisfactory to Chubb Life to be permanent.

  • Loss of Limb means loss by physical severance of a hand at or above the wrist or of a foot at or above the ankle.

  • Loss of an Eye, means total and irrevocable loss of sight in that eye.

  • Loss of Sight means the entire, permanent and irrecoverable loss of sight.

  • Loss of Hearing means the total and complete loss of the ability to hear any sound as a result of a Covered Accident. The loss must be certified by a Legally Qualified Physician that the loss of hearing is permanent with no reasonable expectation of recovery.

  • Loss of Activities of Daily Living means that, due to an Injury or Sickness, the Insured Employee has lost the ability to safely and completely perform two or more of the following six Activities of Daily Living without another person's active, hands-on help with all or most of the activity.

  • Loss or Damage means any loss or damage to the Vehicle, including that caused by theft of the Vehicle or by adverse weather events, that requires repair or replacement including the loss of use of the Vehicle (demurrage), legal expenses, assessment fees, towing and recovery costs, storage, service charges and any appraisal fees of the Vehicle;

  • Loss of Hand or Foot means complete severance through or above the wrist or ankle joint. (In South Carolina, "Loss of Hand" can also mean the loss of four whole fingers from one hand.)

  • Loss of Government property means unintended, unforeseen or accidental loss, damage or destruction to Government property that reduces the Government’s expected economic benefits of the property. Loss of Government property does not include purposeful destructive testing, obsolescence, normal wear and tear or manufacturing defects. Loss of Government property includes, but is not limited to—

  • Unplanned Service Interruption means any Service Interruption where events or circumstances prevent the timely communication of prior warning or notice to the Trader or any affected Customer;

  • Excluded Downtime has the meaning set forth in Section 2 below.

  • Direct Damage has the meaning given to it in clause 26.2;

  • Catastrophic Damage as used hereunder is major change or damage to In- cluded Timber on Sale Area, to Sale Area, to access to Sale Area, or a combination thereof:

  • Service Interruption means the cessation of electricity supply to an ICP for a period of 1 minute or longer, other than by reason of De-energisation of that ICP:

  • Product Liabilities means any Liability arising out of, relating to or resulting from actual or alleged harm, injury, damage or death to persons in connection with the use of any product (including in any clinical trial or study);

  • Comprehensive agreement means the comprehensive agreement between the private entity and the responsible public entity that is required prior to the development or operation of a qualifying project.

  • Areas susceptible to mass movement means those areas of influence, characterized as having an active or substantial possibility of mass movement, where the movement of earth material at, beneath, or adjacent to the landfill unit, because of natural or human-induced events, results in the downslope transport of soil and rock material by means of gravitational influence. Areas of mass movement include landslides, avalanches, debris slides and flows, soil fluction, block sliding, and rock falls.

  • Material Damage and “Materially damaged” means damage (w) resulting in the Property not complying with all legal requirements applicable to the Property, (x) reasonably exceeding $300,000 or (y) that entitles any tenant of the Property to terminate its Lease, or (z) which, in Buyer’s or Seller’s reasonable estimation, will take longer than 120 days to repair.

  • World Wide Web means an information browsing framework that allows a user to locate and access information stored on a remote computer and to follow references from one computer to related information on another computer; and

  • Planned Service Interruption means a Service Interruption that has been scheduled to occur in accordance with schedule 5;

  • Essential functions means the fundamental job duties of the employment position the individual with a disability holds or desires. "Essential functions" does not include the marginal functions of the position.

  • Electronic Funds Transfer (EFT) indicator means a four-character suffix to the unique entity identifier. The suffix is assigned at the discretion of the commercial, nonprofit, or Government entity to establish additional System for Award Management records for identifying alternative EFT accounts (see subpart 32.11) for the same entity.

  • Downtime means the Total Minutes in the Month during which the Cloud Service (or Servers for Server Provisioning) does not respond to a request from SAP’s Point of Demarcation for the data center providing the Cloud Service (or Server for Server Provisioning), excluding Excluded Downtime.

  • Loss of Stock Borrow means that the Issuer and/or any Affiliate is unable, after using commercially reasonable efforts, to borrow (or maintain a borrowing of) any Share in an amount equal to the Hedging Shares at a rate equal to or less than the Maximum Stock Loan Rate.

  • Consequential Loss means loss of profits, anticipated loss of profit or revenue, loss of production, loss of business opportunity, loss of or damage to goodwill or reputation, loss of use or any other similar loss, but excludes: