Target Death Benefit definition

Target Death Benefit. The "Target Death Benefit" is the death benefit specified by the Owner when an Adjustable Term Insurance Rider is added to the Policy and shown on Page 7 if applicable.
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Target Death Benefit. The Target Death Benefit in force on the date of issue of this rider is shown in Section 1 of the Policy. The Target Death Benefit may be changed in accordance with the terms of this rider. Automatic Renewal Dates and Term - This rider will be automatically renewed each policy anniversary on or before the Insured's age 95. The term of the renewal will be for a period of one year. Rider Cost - The monthly cost of this rider is deducted from the account value on a Monthly Anniversary Day. The insurance rate as to the initial amount of term insurance and any scheduled increase in term insurance is based on the Insured's sex, if applicable, age on the Policy Date, number of years since the Policy Date, and class of risk. "Class of Risk" for the initial amount of term insurance is the class of risk to which the Insured belonged on the Policy Date and is shown on Page 1 of the Policy. The insurance rate for any unscheduled in- crease in the amount of term insurance will be based on the Insured's sex, if applicable, age on the effective date of the increase, number of years since that date and class of risk on that date. The cost of insurance for this rider is calculated as its monthly cost of insurance rate multiplied by the amount of term insurance, per $1,000 of this rider. The monthly cost of insurance rates are shown in Section 2 of the Policy. Each year we shall review the monthly term insurance rates to determine if any change should be made. Monthly insurance rates will be based on our expectations as to future: (a) mortality; (b) investment earnings; (c) expenses, and (d) persistency. We guarantee that the insurance rates for the initial amount of term insurance will never be more than the rates shown in the Guaranteed Monthly Insurance Rates for Initial Specified Amount table in Section 2. Insurance rates for any increase in term insurance will never be more than the guaranteed rates provided by us at the time the increase takes effect. No monthly deduction will be made for this rider after it ends. Changes in Amount of Coverage Scheduled Increase in Target Death Benefit - Scheduled increases in the Target Death Benefit are allowed only if specified at the time of application for the Policy or at the time of application for an unscheduled increase. A scheduled increase is reflected in the amount of term insurance only. Evidence of insurability is not required. Unscheduled Increase in Target Death Benefit - Unscheduled increases in the Target Death Benef...
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Target Death Benefit. The Target Death Benefit for your policy is defined in the Adjustable Term Rider, if any, attached to the policy.
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Examples of Target Death Benefit in a sentence

  • After that, you'll receive all your monthly bills on the same date in the month as your first bill (or, for any month where that date doesn't exist, on the last day of that month).

  • But in the case of the suicide of the Insured, sane or insane, within two (2) years of the date any unscheduled increase in Specified Amount or Target Death Benefit took effect the amount payable by the Company with respect to that increase will be limited to its cost.

  • Any requested decrease in Target Death Benefit is subject to our approval.

  • The Optional Extra Death Benefit on any date will be equal to the amount, if any, by which the Option M Target Death Benefit as of such date, as defined below, exceeds the Sum Insured.

  • The Catastrophic Leave Bank is for contracted certified and classified employees of the Clarksville School District.

  • The Option M Target Death Benefit will be equal to the Account Value on such date multiplied by the applicable Optional Extra Death Benefit Factor shown in Section 2.

  • The policy owner may increase the Target Death Benefit subject to Company approval.

  • The two employers holding certificates issued under 14(c) of the Fair Labor Standards Act are St. Coletta of Greater Washington and Anchor Mental Health Association, Inc.

  • Any requested decrease in the Stated Death Benefit in the policy shall eliminate any future scheduled increases in the Target Death Benefit.

  • Changes in the Specified Amount in force, the Target Death Benefit, the Death Benefit Option in effect or an additional benefit provided by rider will change the guideline premium limitation.


More Definitions of Target Death Benefit

Target Death Benefit means the aggregate amount payable upon the death of a Participant under the insurance policies funded through this Plan, which shall be determined by the Committee, at its sole and absolute discretion, and communicated to the Participant in writing upon the Participant's commencement of participation in the Plan.
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Target Death Benefit. The Target Death Benefit for your policy is defined in the Adjustable Term Insurance Rider, if any, attached to the policy. VALUATION DATE - Each date as of which the net asset value of the shares of the investment portfolios and unit values of the Divisions are determined, Except for days that a Division's corresponding portfolio does not value its shares, a Valuation Date is any day:
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Related to Target Death Benefit

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

  • 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.

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

  • 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.

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

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

  • Last Monthly Benefit means the gross Monthly Benefit payable to the Insured Employee immediately prior to death. Any reductions for Other Income Benefits, or for earnings the Insured Employee received for Partial Disability Employment, will not apply.

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

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

  • 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).

  • Actuarial equivalent means a benefit of equal value when

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

  • Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).

  • Change in Control Benefit means the benefit described in Section 2.4.

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

  • Normal Retirement Benefit means the benefit described in Section 2.1.

  • Lump Sum means the total sum which will have become payable to the Contractor by the Principal upon completion of the Works.

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

  • Net Death Proceeds means the total death proceeds of the Policy minus the cash surrender value.

  • Qualified Preretirement Survivor Annuity means an annuity which is payable for the life of the Participant's surviving spouse.

  • lump sum payment period means the period measured in weeks of salary, for which payment has been made to facilitate the transition to retirement or to other employment as a result of the implementation of various programs to reduce the size of the Public Service. The lump sum payment period does not include the period of severance pay, which is measured in a like manner.

  • Regular benefits ’ means benefits payable to an individual under this act or under any other state law, including benefits payable to federal civilian employees and to ex-servicemen pursuant to 5 U.S.C. chapter 85, other than extended benefits.

  • Accrued Bonus means the bonus, which may be negative or positive, which is calculated in the manner set forth in Section V.A.

  • 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.

  • Accrued Benefits shall include the following amounts, payable as described herein: (i) all base salary for the time period ending with the Termination Date; (ii) reimbursement for any and all monies advanced in connection with the Executive's employment for reasonable and necessary expenses incurred by the Executive on behalf of the Company and its Affiliates for the time period ending with the Termination Date; (iii) any and all other cash earned through the Termination Date and deferred at the election of the Executive or pursuant to any deferred compensation plan then in effect; (iv) notwithstanding any provision of any bonus or incentive compensation plan applicable to the Executive, a lump sum amount, in cash, equal to the sum of (A) any bonus or incentive compensation that has been allocated or awarded to the Executive for a fiscal year or other measuring period under the plan that ends prior to the Termination Date but has not yet been paid (pursuant to Section 5(f) or otherwise) and (B) a pro rata portion to the Termination Date of the aggregate value of all contingent bonus or incentive compensation awards to the Executive for all uncompleted periods under the plan calculated as to each such award as if the Goals with respect to such bonus or incentive compensation award had been attained; and (v) all other payments and benefits to which the Executive (or in the event of the Executive's death, the Executive's surviving spouse or other beneficiary) may be entitled as compensatory fringe benefits or under the terms of any benefit plan of the Employer, including severance payments under the Employer's severance policies and practices in the form most favorable to the Executive that were in effect at any time during the 180-day period prior to the Effective Date. Payment of Accrued Benefits shall be made promptly in accordance with the Employer's prevailing practice with respect to clauses (i) and (ii) or, with respect to clauses (iii), (iv) and (v), pursuant to the terms of the benefit plan or practice establishing such benefits.

  • Vested Benefits means amounts that are vested or that Executive is otherwise entitled to receive, without the performance by Executive of further services or the resolution of a contingency, under the terms of or in accordance with any investment and savings plan or retirement plan (including any plan providing retiree medical benefits) of the Company or its affiliates, and any ERPs or ESPs related thereto, and any deferred compensation or employee stock purchase plan or similar plan or program of the Company or its affiliates.