Common use of Incidental Insurance Provisions Clause in Contracts

Incidental Insurance Provisions. (1) For purposes of these incidental insurance provisions, ordinary life insurance contracts are contracts with both nondecreasing death benefits and nonincreasing premiums. If such contracts are purchased, less than one-half (½) of the aggregate employer contributions allocated to any Member will be used to pay the premiums attributable to them.

Incidental Insurance Provisions. (1) For purposes of these incidental insurance provisions, ordinary life insurance contracts are contracts with both nondecreasing death benefits and nonincreasing premiums. If such contracts are purchased, less than one-half (½( 1/2) of the aggregate employer contributions allocated to any Member will be used to pay the premiums attributable to them.

Incidental Insurance Provisions. (1a) Ordinary Life - For purposes of these incidental insurance provisions, ordinary life insurance contracts are contracts with both nondecreasing death benefits and nonincreasing premiums. If such contracts are purchased, less than one-half (½) 1/2 of the aggregate employer contributions Employer Contributions allocated to any Member Participant will be used to pay the premiums attributable to them.