Policy Benefit definition

Policy Benefit means one or more sums of money, services or other benefits, including an annuity, but excluding a loan in respect of a policy or consideration upon the surrender of a policy;
Sample 1Sample 2Sample 3
Policy Benefit means, with respect to a Life Insurance Policy, the amount to be paid by the writing Insurance Company upon the mortality of the Insured.
Sample 1Sample 2Sample 3
Policy Benefit means and includes the benefits payable as mentioned in Part C.
Sample 1Sample 2Sample 3

Examples of Policy Benefit in a sentence

  • All Contribution and Policy Benefit payments in terms of the Policy shall be made in the Republic of South Africa in South African Rand.

  • The Beneficiary will receive the Policy Benefit on the death of the Policyholder.

  • The Town of Needham Education Reimbursement Policy (Benefit Administration #501) dated July 1, 2018 and as from time to time amended is hereby incorporated by reference.

  • Health Insurance Plan and Extended Health Care Pian Employee Policy Benefit Plan Approved Term Absence Mid-Term three weeks per Company Policy.

  • We have provided guidance on Insurance, Public Assistance/Hazard Mitigation Policy, Benefit Cost Analysis for Pre-Disaster Mitigation, HMGP, Flood Mitigation, CDBG-DR, 406 and 428 mitigation projects, including Eligibility assessments and Estimating services.

  • Section One The most we will pay under Part A of this policy is the sum insured specified in the schedule, plus any amount payable under any Policy Benefit under Part A which is stated to be in addition to the sum insured.

  • Thereafter, provided any claim event has not occurred as per the Policy Benefit Provisions under this policy, the Effective Sum Assured will increase by 10% of the initial sum assured on each policy anniversary starting from first policy anniversary till the tenth policy anniversary.

  • Notice of a discontinuance or termination is not required except by the terms of any Policy, Benefit Plan or by law.

  • The Town of Xxxxxxx Education Reimbursement Policy (Benefit Administration #501) dated July 1, 2018 and as from time to time amended is hereby incorporated by reference.

  • The Beneficiary will receive the Policy Benefit on the death of the last dying of the Life Assured/s.


More Definitions of Policy Benefit

Policy Benefit means a lump sum or an annuity payable on a certain contingency;
Sample 1Sample 2Sample 3
Policy Benefit means the benefits payable by way of Gratuit or Leave Encashment , as applicable, with respect to an Insured Member for the period of service rendered by him/her with the Group Policyholder as per the rules of the Scheme formulated by the Group Policyholder from time to time and is subject to statutory requirements as may be applicable. The Policy Benefit opted under this Group Policy is a s shown in the Schedule
Sample 1
Policy Benefit means the amount we would pay under the Policy upon the death of the Insured. The "Policy Benefit" does not include any amount payable under an Accidental Death Benefit (ADB). Any amount payable under an ADB will not be affected by this rider.
Sample 1

Related to Policy Benefit

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.

  • Disability Benefit means the benefit set forth in Article 8.

  • Retirement Benefit means the benefit set forth in Article 5.

  • Social Security Benefit means the Primary Insurance Amount to which a Participant becomes entitled at age sixty-five (65) under Social Security legislation in effect on the earliest of his Normal Retirement Date, early retirement date or Termination Date.

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • Public benefit means making capital available, or facilitating the availability of capital, to businesses in this state that have 750 or fewer employees, the intent of which is to create or retain employment opportunities for residents of this state, stabilize or increase the tax base of this state, or support the redevelopment of facilities for use by small businesses.

  • Early Retirement Benefit means the retirement benefit payable to a member following early

  • Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;

  • Normal Retirement Benefit means an annual benefit equal to One Hundred Fifty Thousand Dollars and No/100 ($150,000.00) per year, payable in accordance with the terms of this Agreement. Beginning on the thirteenth month that the Normal Retirement Benefit is paid, and continuing thereafter until paid in full, the Normal Retirement Benefit shall be increased annually by three percent (3%) from the previous year’s Normal Retirement Benefit amount to account for cost of living increases.

  • Policy Year means the period of time these Terms and Benefits are in force. The first Policy Year shall be the period from the Policy Effective Date to the day immediately preceding the first Renewal Date as specified in the Policy Schedule (both days inclusive) within one (1) year period; and each subsequent Policy Year shall be the one (1) year period from each Renewal Date.

  • Primary Social Security Benefit means, with respect to any member, the primary insurance amount

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

  • Termination Benefit means the benefit set forth in Article 7.

  • superannuation benefit means any payment, other than a refund of contributions, made to a dentist by virtue of the application of the (a) National Health Service Pension Scheme Regulations 1995; or (b) the National Health Service Superannuation Scheme (Scotland) Regulations 1995 or (c) the corresponding provisions of the law in force in Northern Ireland; as a result of his providing general dental services;

  • Social Security Benefits means any social insurance, pension insurance benefits, medical insurance benefits, work-related injury insurance benefits, maternity insurance benefits, unemployment insurance benefits and public housing reserve fund benefits or similar benefits, in each case as required by any applicable Law or contractual arrangements.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.

  • Annual Benefit means an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).

  • Pecuniary benefit means benefit in the form of money, property, commercial interests or anything else the primary significance of which is economic gain. Expenses associated with social occasions afforded public servants shall not be deemed a pecuniary benefit.

  • Net Benefit means the present value of the Covered Payments net of all federal, state, local, foreign income, employment and excise taxes.

  • SERP has the meaning assigned thereto in Section 5(c) hereof.

  • Bereavement Pay Benefits means the benefits as set out in Article II hereof.

  • Disability benefits means any cash payments which are payable to a covered individual for all or part of a period of disability pursuant to P.L.1948, c.110 (C.43:21-25 et al.).