Insurance Benefit. The Employer may elect to provide incidental life insurance benefits for insurable Participants who consent to life insurance benefits by signing the appropriate insurance company application form. The Trustee will not purchase any incidental life insurance benefit for any Participant prior to an allocation to the Participant's Account. At an insured Participant's written direction, the Trustee will use all or any portion of the Participant's nondeductible voluntary contributions, if any, to pay insurance premiums covering the Participant's life. This Section 11.01 also authorizes the purchase of life insurance, for the benefit of the Participant, on the life of a family member of the Participant or on any person in whom the Participant has an insurable interest. However, if the policy is on the joint lives of the Participant and another person, the Trustee may not maintain that policy if that other person predeceases the Participant. The Employer will direct the Trustee as to the insurance company and insurance agent through which the Trustee is to purchase the insurance contracts, the amount of the coverage and the applicable dividend plan. Each application for a policy, and the policies themselves, must designate the Trustee as sole owner, with the right reserved to the Trustee to exercise any right or option contained in the policies, subject to the terms and provisions of this Agreement. The Trustee must be the named beneficiary for the Account of the insured Participant. Proceeds of insurance contracts paid to the Participant's Account under this Article XI are subject to the distribution requirements of Article V and of Article VI. The Trustee will not retain any such proceeds for the benefit of the Trust. The Trustee will charge the premiums on any incidental benefit insurance contract covering the life of a Participant against the Account of that Participant. The Trustee will hold all incidental benefit insurance contracts issued under the Plan as assets of the Trust created under the Plan.
Insurance Benefit. 22.1 If the insured capital has become due and payable, the insurer shall pay out as soon as the insurer has received documents which, in its opinion, prove that and to whom any payment is due. The insurer has the right to retain these documents as its property.
22.2 In the event of the death of the insured person, the benefit amounts to a sum which is:
a. if a constant capital is insured, equal to the insured capital as stated on the policy schedule;
b. if a declining linear capital is insured, equal to an amount calculated based on a linear yearly repayment schedule;
c. if an annuity declining capital is insured, equal to an amount calculated based on a yearly annuity repayment schedule with an interest rate indicated on the policy schedule.
22.3 When a diagnosis of a terminal illness has been made, the insurer will pay the benefi ciary 50% of the insured sum up to a maximum of EUR 100.000,- on one insured life. The insurance remains in force for the difference between the insured sum specified in the insurance and the benefit paid in respect of terminal illness, on condition that the payment of the premiums is continued. The outstanding insured capital will be paid out upon the death of the insured.
22.4 Articles 2.5 and 7 lapse after a payment as referred to in Article 22.3. It is not possible to make any changes to the insurance.
22.5 In the case of a pledged policy, the insurer will request approval from the fi xxxxx company. The payment referred to in Article 22.3 will only take place after permission from the fi nancing company.
22.6 No benefi t in respect of terminal illness shall be paid if:
a. the terminal illness was (partly) caused by an HIV infection;
b. the diagnosis is made within 12 months before the end date of the insurance;
c. the insured person’s age in the event of a claim for benefi ts on account of terminal illness is 65 years or older.
22.7 The payment will be reduced by any premiums and/or costs still due that are for the account of the policyholder.
22.8 The insurer is always entitled to claim back undue payments.
22.9 Payment shall be made by crediting an account designated by the entitled party to a bank institution established in the Netherlands or in another member state of the European Union, using a legal Dutch method of payment.
Insurance Benefit. 11.01 11.02 Limitation on Life Insurance Protection............ 11.01 11.03 Definitions........................................ 11.02 11.04 Dividend Plan...................................... 11.02 11.05 Insurance Company Not a Party to Agreement......... 11.02 11.06 Insurance Company Not Responsible for Trustee's Actions.................................. 11.03 11.07 Insurance Company Reliance on Trustee's Signature.......................................... 11.03 11.08 Acquittance........................................ 11.03 11.09 Duties of Insurance Company........................ 11.03
Insurance Benefit. 11.01 11.02 Limitation on Life Insurance Protection..................11.01 11.03 Definitions..............................................11.02 11.04
Insurance Benefit. The District shall provide medical coverage for the Superintendent pursuant to the same rate as all other employees of the District. Any costs above the payment provided for herein shall be paid by the Superintendent.
Insurance Benefit. (hereinafter the “Benefit”) - a benefit provided by the Insurer to the Entitled Person under the conditions set out in Article 10 hereof.
Insurance Benefit. 11.01 11.02 Limitation on Life Insurance Protection . . . . . . . . . . . . . . . . . . . . . . . 11.01 11.03 Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.02 11.04 Dividend Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.02 11.05 Insurance Company Not a Party to Agreement . . . . . . . . . . . . . . . . . . . . . . 11.02 11.06 Insurance Company Not Responsible for Trustee's Actions . . . . . . . . . . . . . . . 11.02 11.07 Insurance Company Reliance on Trustee's Signature . . . . . . . . . . . . . . . . . . 11.03 11.08 Acquittance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.03 11.09 Duties of Insurance Company . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.03
Insurance Benefit. 2.1. In the case of an insured event, the Insurer shall pay the Insurance Benefit for the following:
2.1.1. dental treatment for acute painful dental disease (not caused by an injury) treated with simple fillings (including X-ray) or extraction up to the insurance benefit limit specified in the Insurance Agreement; in the event of injury consequences, only first-aid treatment to prevent further aggravation of the injury (e.g. grinding of the tooth) will be provided, but not definitive treatment;
2.1.2. medical treatment including the used medical supplies and diagnostic means reasonable with respect to the illness of the Insured;
2.1.3. hospital stay (without special equipment of the room or special care) for the period necessary, necessary diagnostic tests, surgery and anaesthesia, medication and material used, the cost of food provided by the hospital;
2.1.4. medically necessary: • transportation to the nearest health care facility unless the Insured is capable of transportation via standard means of transport; • transportation from the physician to the hospital or from the hospital to another specialised hospital should the state of health of the Insured require it; • transportation by helicopter from the point of illness/ injury to the nearest hospital if necessary; • transportation from the hospital back to the place of stay abroad unless public transport can be used; • transportation to the attending physician and back during treatment, approved by the Insurer if public transport cannot be used. The Insured is obliged to agree on the transportation with the Assistance Service of the Insurer in advance and to follow its instructions. OF LUGGAGE PERSONAL
Insurance Benefit. 2.2. In the case of the Insured Event, the Insurer will pay compensation to the Insured for lost, stolen or destroyed luggage or personal item in the amount of the time price of the luggage or personal item, and compensation for the repair costs up to the amount of the time price of the luggage or personal item (up to the insurance benefit limit). The Insurance Benefit for one lost piece of luggage shall be limited by the insurance benefit limit per piece of luggage. The Insurance Benefit for the loss per one piece, pair or set of personal item shall be limited by the insurance benefit limit per item.
Insurance Benefit. Eligible employees with at least ten (10) years of continuous employment in the District (#107, 108, 111 or 112) and who timely elect to retire within the meaning of the Illinois Municipal Retirement Fund (IMRF) before age sixty-five may continue to purchase health insurance for individual or family coverage, life insurance and dental from the District as per the conditions in the insurance booklet at 100% of the group rate cost of such insurance until age 65 or until the employee becomes eligible for Medicare, whichever is later in age or, if such becomes available, until the employee becomes eligible for insurance as a result of retirement pursuant to the IMRF, whichever occurs first.
