Additional Disability Coverage Sample Clauses
The Additional Disability Coverage clause provides extra financial protection to an insured individual in the event they become disabled. This clause typically supplements standard disability benefits by offering increased monthly payments or extending the benefit period if the insured meets certain criteria, such as being unable to perform their occupation due to illness or injury. Its core function is to enhance the policyholder’s income security during periods of disability, addressing potential gaps in standard coverage and helping to mitigate the financial impact of long-term or severe disabilities.
Additional Disability Coverage. In addition to the employee benefit plan coverage provided under Section 3(d) above, during the term of this Agreement the Executive will be provided with additional "Disability" (as hereinafter defined) benefits in an amount such that the total annual Disability benefit payable under this provision, together with payments under any short-term and/or long-term disability program or policy maintained by the Employer and from workers compensation with respect to the disabling condition, will be equal to 70% of the Executive's annualized Base Salary immediately prior to the Disability. The Disability benefit provided under this Section 3(e) will be paid from the date of the Disability until the earliest of (i) the cessation of the Disability; (ii) the Executive's death; (iii) the Executive's attainment of age 65; (iv) the date when short-term disability benefits terminate if long-term disability benefits do not immediately commence thereafter pursuant to the terms of that policy; or (v) the date when long-term disability policy benefits terminate pursuant to the terms of that policy.