Covered Monthly Earnings means your basic monthly salary received from the Policyholder on the day just before the date of Total Disability, prior to any deductions to a 401(k) and Section 125 plan. Covered Monthly Earnings does not include commissions, overtime pay, bonuses, incentive pay or any other special compensation not received as Covered Monthly Earnings.
Covered Monthly Earnings means your basic monthly salary received from the Policyholder on the first of the Policy month just before the date of Total Disability. Covered Monthly Earnings does not include commissions, overtime pay, bonuses, incentive pay or any other special compensation not received as Covered Monthly Earnings.
Covered Monthly Earnings means your basic monthly salary received from the Policyholder on the first of the Policy month just before the date of Total Disability, prior to any deductions to a 403(b) or Section 125 plan. Covered Monthly Earnings does not include commissions, overtime pay, bonuses or any other special compensation not received as Covered Monthly Earnings.
Examples of Covered Monthly Earnings in a sentence
If the sum above exceeds 100% of Covered Monthly Earnings, our Benefit Amount will be reduced by such excess amount until the sum of (1) and (2) above equals 100%.
It will not exceed the amount shown in the Employer's financial records, the amount for which premium has been paid, or the Maximum Covered Monthly Earnings permitted by the Policy; whichever is less.
However, when a Person’s Basic Monthly Earnings exceed his Covered Monthly Earnings, the Monthly Benefit will not be reduced by such income unless when combined with the Other Income Benefits the total exceeds 80% of his Basic Monthly Earnings.
A price or rate shall be entered in indelible ink against every item in the Bills of Quantities with the exception of items which already have Prime Cost or Provisional sums affixed thereto.
PREMIUM RATE: The Premium due will be the rate per $100.00 of the entire amount of Covered Monthly Earnings then in force.
More Definitions of Covered Monthly Earnings
Covered Monthly Earnings means your basic monthly salary received from the Policyholder on the day just before the date of Total Disability. Covered Monthly Earnings do not include commissions, overtime pay, bonuses or any other special compensation not received as Covered Monthly Earnings.
Covered Monthly Earnings means the Insured's monthly salary received from you on the day just before the date of Total Disability, prior to any deductions to a 401(k) and Section 125 plan. Covered Monthly Earnings does not include overtime pay, bonuses, incentive pay or any other special compensation not received as Covered Monthly Earnings. However, "Covered Monthly Earnings" will include commissions received from you averaged over the lesser of:
Covered Monthly Earnings means 1/12th of the Insured's annual salary received from you as of the first of the month just before the date of Total Disability. Covered Monthly Earnings do not include commissions, overtime pay, bonuses or any other special compensation not received as Covered Monthly Earnings.
Covered Monthly Earnings means the amount of wages you paid to the Insured as reported on his/her W-2 form as "Medicare wages and tips" (box 5) averaged over the lesser of:
Covered Monthly Earnings means monthly gross Total Assessable Compensation, as defined under The Church Pension Fund Clergy Pension Plan (Clergy Pension Plan), but excluding one-time payments such as overtime and bonuses and income received from sources other than the employer. Earnings will be based on the annualized monthly earnings just prior to the date of disability.
Covered Monthly Earnings means the Insured's monthly salary received from you on the day just before the date of Total Disability, prior to any deductions to a 401(k) or Section 125 plan. Covered Monthly Earnings do not include commissions or any other special compensation not received as Covered Monthly Earnings. However, "Covered Monthly Earnings" will include commissions and overtime pay for a Salesperson and bonuses and overtime pay for all other employees received from you averaged over the lesser of:
Covered Monthly Earnings means 1/12 of the amount of wages the Policyholder paid to you as reported on your W-2 form as "Medicare wages and tips" (box 5) for the year just before the date Total Disability began. W-2 earnings includes base pay, incentive pay, 401(k) deferrals, 403(b) deferrals and Section 125 deferrals received from the Policyholder but excludes commissions; bonuses; overtime pay; group term life imputed income; allowances, such as, but not limited to, disturbance allowances, relocation allowances, leased car and car allowances; and other special forms of compensation. If the W-2 is for less than a full calendar year, W-2 earnings, as defined above, will be annualized and divided by 12.