Covered Life Sample Clauses

Covered Life. The Contract Owner (provided the Contract Owner is a person) and the Contract Owner’s spouse (provided the spouse is a joint owner or Beneficiary who is eligible for spousal continuance). The Annuitant (provided the Contract Owner is not a person) and the Annuitant's spouse (provided the spouse is a Beneficiary who is eligible for spousal continuance).
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Covered Life. Any Contract Owner, if a person or, if the Contract Owner is not a person, the Annuitant.
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Covered Life. The Contract Owner (provided the Contract Owner is a person) and the Contract Owner’s spouse (provided the spouse is a joint owner or Beneficiary who is eligible for spousal continuance). The Annuitant (provided the Contract Owner is not a person) and the Annuitant's spouse (provided the spouse is a Beneficiary who is eligible for spousal continuance). Eligible Withdrawal Year. A Contract Year in which You are eligible to withdraw the Lifetime Benefit Payment. Every Contract Year that begins after the youngest Covered Life’s [60th] birthday is an Eligible Withdrawal Year. Guaranteed Minimum Death Benefit (DB). The minimum amount payable upon the death of any Contract Owner or Annuitant. Lifetime Benefit Payment (LBP). The maximum guaranteed withdrawal available during any Eligible Withdrawal Year until the death of any Covered Life or until the withdrawal feature is revoked, as described in this rider. The LBP may be continued after the death of any Covered Life if spousal continuation is elected.
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Covered Life. Any Contract Owner, if a person or, if the Contract Owner is not a person, the Annuitant. Eligible Withdrawal Year. A Contract Year in which You are eligible to withdraw the Lifetime Benefit Payment. Every Contract Year that begins after the oldest Covered Life’s [60th] birthday is an Eligible Withdrawal Year. Guaranteed Minimum Death Benefit (DB). The minimum amount payable upon the death of any Contract Owner or Annuitant. Lifetime Benefit Payment (LBP). The maximum guaranteed withdrawal available during any Eligible Withdrawal Year until the death of any Covered Life or until the withdrawal feature is revoked, as described in this rider. Partial Surrender. A withdrawal of a portion of the Contract Value including Contingent Deferred Sales Charges, if applicable. Payment Base (PB). The basis for determining the Lifetime Benefit Payment and Rider Charge.
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Covered Life. A Covered Life is a person upon whose age / lifetime the features and benefits of the Rider are based. The Rider only covers natural persons named in the Contract, and the Covered Life(ves) (up to two) must be designated at Contract issue or the Rider Effective Date. The Annuitant must be a Covered Life. If a Joint Annuitant is named in the Contract, the Joint Annuitant must also be a Covered Life and only a Joint Life Guarantee is available. If there is only one Annuitant, a Joint Life Guarantee is available with a Contingent Annuitant designated as the second Covered Life. Covered Life(ves) under the Rider will be listed in Additional Contract Specifications. Covered Life(ves) cannot be changed after the Rider Effective Date, except under conditions outlined in “Replacing a Covered Life under a Joint Life Guarantee” provision below.
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Covered Life. The Contract Owner (provided the Contract Owner is a natural person) and the Contract Owner’s spouse (provided the spouse is a joint Contract Owner or Beneficiary who is eligible for spousal continuance). The Annuitant (provided the Contract Owner is not a natural person) and the Annuitant's spouse (provided the spouse is a Beneficiary who is eligible for spousal continuance). We reserve the right to allow the designation of the Annuitant’s spouse as a Covered Life without being a Beneficiary provided that the non-natural custodial Contract Owner may elect spousal continuance on behalf of the Annuitant’s spouse. Signed for Hartford Life Insurance Company [ ] HL-GMWBE-12 Printed in U.S.A. V0F759.FRM Hartford Life Insurance Company 000 Xxxxxxxxx Xxxxxx Xxxxxxxx, XX 00000 GUARANTEED MINIMUM WITHDRAWAL BENEFIT RIDER II-2 (Joint Life/Spousal) This rider is issued as part of the Contract to which it is attached, and is effective on the Rider Effective Date. Except where this rider provides otherwise, it is subject to all of the conditions and limitations of the Contract. This rider has no cash surrender value. This rider provides lifetime guaranteed minimum withdrawal benefits with possible Market Increases and a Deferral Bonus to the Payment Base.
Sample 1
Covered Life. The Annuitant and the Annuitant’s spouse (provided the spouse is a Contract Owner, a joint Contract Owner or the sole primary Beneficiary who is eligible for spousal continuation). We reserve the right to allow the designation of the Annuitant’s spouse as a Covered Life without being Contract Owner, a joint Contract Owner or the sole primary Beneficiary provided that the non-natural custodial Contract Owner may elect spousal continuation on behalf of the Annuitant’s spouse. Deferral Bonus - A percentage of the Deferral Bonus Base that We add to Your Anniversary Payment Base on each Contract Anniversary during the effective Deferral Bonus Period.
Sample 1
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Covered Life. The Annuitant and the lifetime over which the lifetime guaranteed minimum withdrawal benefits will be effective for.
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Related to Covered Life

  • Life and Disability Insurance The Company will provide term life and disability insurance payable to the Employee, in each case in an amount up to a maximum of one times the Employee’s base salary in effect from time to time, provided however, that such amount will be reduced by the amount of any life insurance or death or disability benefit coverage, as applicable, that is provided to the Employee under any other benefit plans or arrangements of the Company. Such policies will be in accordance with the Company’s standard policies from time to time with respect to such insurance and the rules established for individual participation in such plans and under applicable law.

  • Fixed Annuity 10 1.16 Fund(s) ........................................................... 10 1.17

  • Coverage Borrower shall cause to be carried and maintained commercial general liability insurance, on an occurrence form, against risks customarily insured against in Borrower’s line of business. Such risks shall include the risks of bodily injury, including death, property damage, personal injury, advertising injury, and contractual liability per the terms of the indemnification agreement found in Section 6.3. Borrower must maintain a minimum of $2,000,000 of commercial general liability insurance for each occurrence. Borrower has and agrees to maintain a minimum of $2,000,000 of directors’ and officers’ insurance for each occurrence and $5,000,000 in the aggregate. So long as there are any Secured Obligations outstanding, Borrower shall also cause to be carried and maintained insurance upon the Collateral, insuring against all risks of physical loss or damage howsoever caused, in an amount not less than the full replacement cost of the Collateral, provided that such insurance may be subject to standard exceptions and deductibles.

  • Life Annuity The monthly annuity shall be payable to the annuitant for as long as the annuitant lives, and shall end with the last monthly payment before the death of the annuitant.

  • Key Man Life Insurance The Company may apply for and obtain and maintain a key man life insurance policy in the name of Executive together with other executives of the Company in an amount deemed sufficient by the Board, the beneficiary of which shall be the Company. Executive shall submit to physical examinations and answer reasonable questions in connection with the application and, if obtained, the maintenance of, as may be required, such insurance policy.

  • ANNUITY Payment of an income:

  • ANNUITANT The Annuitant is the person on whose life Annuity Payments are based. The Annuitant is the person designated by you subject to our underwriting rules then in effect. The Annuitant may not be changed in a Contract which is owned by a non-individual.

  • REINSURANCE COVERAGE Reinsurance under this Agreement will apply to insurance issued by the Ceding Company on the Plans of Insurance shown in Schedule A. Such Plans of Insurance shall be reinsured with the Reinsurer on an automatic basis, subject to the requirements set forth in Section A below, or on a facultative basis, subject to the requirements set forth in Section B below, or on a facultative obligatory basis, subject to the requirements set forth in Section C below. The specifications for all reinsurance under this Agreement are provided in Schedule B.

  • Long-Term Disability Insurance Salary continuation benefit for total disability. Benefit commences with ninetieth day of disability and continues to a maximum of age sixty-five. Annual maximum benefit shall be 60% of the Base Salary.

  • Single-Premium Credit Life Insurance Policy In connection with the origination of any Mortgage Loan, no proceeds from any Mortgage Loan were used to finance or acquire a single-premium credit life insurance policy;

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