Other Insurance Benefits definition

Other Insurance Benefits means the group life insurance, key man life insurance and long-term disability insurance benefits to be provided pursuant to Section 7(a) or Section 7(b) of this Agreement for the benefit of the Employee and his dependents and beneficiaries who would have been eligible for such benefits if the Employee had not suffered an Involuntary Termination in the event such benefits were provided immediately prior to the Date of Termination, with (i) such benefits to be provided on the same terms as if the Employee had continued to remain employed as an executive officer of the Company and the Bank, (ii) such benefits to be provided until the expiration of the time period set forth in Section 7(a) or 7(b) of this Agreement as applicable (the “Coverage Period”) or the Employee’s death, whichever occurs first, and (iii) the Company or the Bank to pay 100% of the premiums for such continued insurance coverage; provided, however, that in the event that the continued participation of the Employee in any insurance plan specified above is barred, or during the Coverage Period any such insurance plan is discontinued, then the Company and the Bank shall at their election either (A) arrange to provide the Employee with alternative benefits substantially similar to those which the Employee was entitled to receive under such insurance plan immediately prior to the Date of Termination, or (B) in the event such continued coverage is unable to be provided by the Company or the Bank, pay to the Employee within 30 days following the Date of Termination (or within 30 days following the discontinuation of the benefits if later) a lump sum cash amount equal to the projected cost to the Company and the Bank of providing continued coverage to the Employee until the expiration of the Coverage Period, with the projected cost to be based on the costs being incurred immediately prior to the Involuntary Termination (or the discontinuation of the benefits if later), as increased by 15% on each scheduled renewal date. Any insurance premiums payable by the Company or the Bank as specified above shall be payable at such times and in such amounts (except that the Company or the Bank shall also pay any employee portion of the premiums) as if the Employee was still an employee of the Company or its Consolidated Subsidiaries, subject to any increases in such amounts imposed by the insurance company, and the amount of insurance premiums required to be paid by the Company or the Bank in any taxable yea...
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Examples of Other Insurance Benefits in a sentence

  • As a result of these differences, comparisons of data provided by individual institutions may be misleading.Changes from the 1994 form for1995 Salaries, Tensure and Fringe Benefits of Full-Time Instructional Faculty The definition for Part B, Line 36, "Other Insurance Benefits" has been added.

  • Other Insurance Benefits: If an insured person is entitled to any medical or Major Medical benefits or services from another source, such benefits under this plan may be reduced to an amount, which together with all such other benefits will not exceed 100% of any necessary, reasonable and customary item of expense covered under this Plan or any such other Plan.

  • Ordinance No. 11243 relating to Tucson Supplemental Retirement System ("TSRS"); Tucson Code Chapter 22, Pensions, Retirement, Group Insurance, Leave Benefits and Other Insurance Benefits, Article III, TSRS, Division 1, Types of Retirement and Benefits; Variable Contribution Rates; adopting Fiscal Year ("FY") 2016 TSRS employee and employer contributing rates; and declaring an emergency.

  • Ordinance No. 11062 relating to Tucson Supplemental Retirement System; Tucson Code Chapter 22, Pensions, Retirement, Group Insurance, Leave Benefits and Other Insurance Benefits, Article III, Tucson Supplemental Retirement System, Division 1, Types of Retirement and Benefits; amending Section 22-30, Definitions; Section 22- 34(B), Variable Contribution Rates; and declaring an emergency.

  • Water and sanitation related diseases are contributing to high mortality of children under five, which stands at 74 per 1,000 children.

  • Ordinance No. 11176 relating to Leave and Other Benefits: the Tucson Code, Chapter 22, Pensions, Retirement, Group Insurance, Leave Benefits and Other Insurance Benefits, Article V, Leave Benefit Plan, Section 22-95 Sick leave incentive program providing for incentive payment and personal leave days; amending Section 22-95 Subsections (a) through (e), and declaring an emergency.

  • Other Insurance Benefits The School District provides life insurance and accidental death and dismemberment insurance to most employees through Medical Life in the amount of $25,000 per employee.

  • Employer Contribution to Health and Other Insurance Benefits A modification to Article IX to increase the monthly maximum employer contribution towards flex benefits as follows: Effective the beginning of the pay period that includes January 1, 2022: Single - $745.83 Two party - $1,468.95 Family - $1,804.95 Effective January 1, 2022, employees who opt out of vision coverage will no longer have the employee premium applied towards their medical premium.

  • Other Insurance Benefits All employees are covered under a $20,000 life insurance policy through Fort Dearborn Life Insurance except corrections officers, police officers (including sergeants, lieutenants, and captains), fire lieutenants, and assistant fire chiefs.

  • Other Insurance Benefits - The Conference has approved the payroll deduction option of the following benefits: Tax Sheltered Annuities: ValicZahorik AFLACFlexible Spending Account Benefits - unreimbursed medical and dependent care savings account (pre-taxed buy-in benefits)Cancer InsuranceShort-term disability insurance Accident Insurance VOYA Supplemental Group Universal (Life Insurance) VOYA Accidental Death and Dismemberment (AD&D)4.

Related to Other Insurance Benefits

  • Other Insurance means insurance available to any covered person that covers a loss to which this policy applies, other than either primary insurance or insurance specifically purchased by you to be excess of the insurance afforded by this policy.

  • Health Benefits means health maintenance organization, insured or self-funded medical, dental, vision, prescription drug and behavioral health benefits.

  • group insurance means insurance, other than creditor’s group insurance and family insurance, whereby the lives of a number of persons are insured severally under a single contract between an insurer and an employer or other person; (“assurance collective”)

  • Insurance means comprehensive insurance of the vehicle(s)/equipment and shall include insurance of the crew.

  • Insurance Coverage Contractor shall, at Contractor’s sole expense, procure, maintain and keep in force for the duration of this Contract the following insurance conforming to the minimum requirements specified below. Unless specified herein or otherwise agreed to by the City, the required insurance shall be in effect prior to the commencement of work by Contractor and shall continue in force as appropriate until the latter of:

  • Insurance Consultant or "consultant" means a person who:

  • Insurance carrier means every insurance carrier duly

  • Medical Benefits means the monthly fair market value of benefits provided to the Employee and the Employee’s dependents under the major medical, dental and vision benefit plans sponsored and maintained by the Company, at the level of coverage in effect for such persons immediately prior to the Employee’s termination of employment date. The “monthly fair market value” of such benefits shall be equal to the monthly cost as if such persons elected COBRA continuation coverage at such time at their own expense.

  • Co-insurance means the percentage of the usual, reasonable, customary, and fair market value expense that a covered person must pay.

  • Insurance Amount has the meaning set forth in Section 6.11(c).

  • Insurance adjuster means a person who directs or conducts the investigation, negotiation, or settlement of a claim under an insurance policy other than life insurance or an annuity, on behalf of an insurer, policyholder, or a claimant under an insurance policy.

  • insurance broker means an insurance brokerage firm,

  • Health insurance coverage means benefits consisting of medical care (provided directly, through

  • Insurance Cover means the aggregate of the maximum sums insured under the insurance taken out by the Contractor pursuant to Article 20, and includes all insurances required to be taken out by the Contractor under Clauses 20.1 and 20.9 but not actually taken, and when used in the context of any act or event, it shall mean the aggregate of the maximum sums insured and payable or deemed to be insured and payable in relation to such act or event;

  • 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.

  • Coverage means the types of persons to be eligible as the beneficiaries of the Scheme to health services provided under the Scheme, subject to the terms, conditions and limitations.

  • Continuation Coverage means coverage under a COBRA continuation provision or a similar state program. Coverage provided by a plan that is subject to a COBRA continuation provision or similar state program, but that does not satisfy all the requirements of that provision or program, will be deemed to be continuation coverage if it allows an individual to elect to continue coverage for a period of at least 18 months. Continuation coverage does not include coverage under a conversion policy required to be offered to an individual upon exhaustion of continuation coverage, nor does it include continuation coverage under the Federal Employees Health Benefits Program.

  • Benefits as defined in Section 3.1(b).

  • Specified Insurance Company means any Entity that is an insurance company (or the holding company of an insurance company) that issues, or is obligated to make payments with respect to, a Cash Value Insurance Contract or an Annuity Contract.

  • Primary Insurance Policy Each policy of primary mortgage guaranty insurance or any replacement policy therefor with respect to any Mortgage Loan.

  • Insurance Administration means, with respect to each Shared Policy, the accounting for premiums, retrospectively-rated premiums, defense costs, indemnity payments, deductibles and retentions, as appropriate, under the terms and conditions of each of the Shared Policies; and the reporting to excess insurance carriers of any losses or claims which may cause the per-occurrence, per claim or aggregate limits of any Shared Policy to be exceeded, and the distribution of Insurance Proceeds as contemplated by this Agreement.