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Loss of Job Sample Clauses

Loss of Job. If an Insured Person suffers an Involuntary Unemployment during the Coverage Period resulting in loss of Income, then We will pay the monthly amount specified in the Certificate of Insurance against this Benefit, or the number of EMI Amount(s) as specified in the Certificate of Insurance falling due in respect of the Loan Account Number specified against this benefit in the Certificate of Insurance, as applicable, for each continuous and completed month specified in the Certificate of Insurance from the date of such Involuntary Unemployment. This benefit shall be payable subject to the following: a. Salaried Individuals are eligible for cover under this benefit, where such primary occupation is evidenced by their ITR (Income Tax Return) for the number of years specified in the Certificate of Insurance preceding the date of loss of income. b. The Insured Person is employed on the direct payroll of an organization or entity having a registered office in India for a minimum of six continuous months before the Risk Commencement Date, or of an Indian branch of such organization or entity. c. Such dismissal/termination/retrenchment of the Insured Person by his/her employer should be affected in compliance with his/her employer’s internal rules/regulations/policies, and any laws or any directives issued by a public authority and in force. d. Our liability to make any payment under this benefit shall be in excess of the Deductible specified in the Certificate of Insurance for each claim and shall be payable for the maximum number of months specified in the Certificate of Insurance against this benefit, until reinstatement of employment with the same or any other employer, whether confirmed or on probation. e. Where the EMI Option is opted for and specified as such in the Certificate of Insurance, any payments that are overdue and unpaid by the Insured Person prior to the occurrence of the event giving rise to a claim under this benefit will not be considered for the purpose of this benefit and shall be deemed as paid by the Insured Person. f. Any monthly amounts being paid under an admitted claim under this benefit will be discontinued if We reasonably believe that the Insured Person is demonstrably not taking any measures, deemed reasonable and necessary as advised by Us, that can assist in reinstatement of employment in his/her primary occupation, or any occupation of similar nature.
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Loss of Job a) your resignation or voluntary redundancy; or b) the termination of a contract of employment due to your misconduct;
Loss of Job any trip that is cancelled, cut short or altered as a result of: a) your resignation or voluntary redundancy; or b) the termination of a contract of employment due to your misconduct;
Loss of Job. In current times the threat of losing the job looms large on many of us. A loss of job not only renders the individual jobless, worthless (a feeling till you get another job), but throws life completely out of gear. Ask these questions to yourself… • How does your family survive the shock? • Have you catered financially to take of children's education, health needs and daily living needs? • Are you prepared financially to survive few months without pay? • What are your options to generate revenues when your steady source of income is lost? • Are your savings adequate to cushion the loss of job? • Do you have any alternate source of income? • Have you developed any additional skills that can help you in getting a new job or money? Below tabulation address the (1) other preparations and (2) money needs. Other preparations • Keep the family informed of a possibility of losing a job in today’s job market. Explain them the availability of a buffer from your end to meet this situation. • The buffer amount to cater the education needs, health, rent and other daily living needs for THREE TO FOUR MONTHS should be available. • How to arrive at this buffer? Calculate all the expenses that you currently do for a month and arrive at a figure. Observe this pattern for 2-3 months. Tracking of expenses that we discussed earlier will be very handy for this exercise. • This could give a tentative monthly expense. You need to have 4 times this amount as buffer to manage your expenses for 3-4 months. Money needs • If current monthly expense is Rs. 25,000, then the buffer amount needed is 25,000 x 4 = 1 Lakh liquid cash. • However, this need not be held as cash, but as short term Fixed deposit for 3 months. • This Fixed deposit can be renewed every 3 months. • The amount dispensed as final settlement by the current employer would also be handy along with the buffer. Hospitalization seems to be a certainty in today's uncertain times!!! Hospitalization is not only life threatening, but costly in terms of finances. Some treatment very easily could cost 1-2 lakhs. We enjoy some protection in the form of Medical cover provided by our employers. But remember, some ailments are NOT COVERED by insurance companies. about dependents? Ask these questions to yourself… • Have you planned for such an eventuality? • Do you have adequate medical cover? • Are your family members aware of the details of medical cover? • Have you planned your finances to cater for such an eventuality? • Do they ...

Related to Loss of Job

  • Loss of Data In the event of loss of any State data or records where such loss is due to the intentional act, omission, or negligence of the Contractor or any of its subcontractors or agents, the Contractor shall be responsible for recreating such lost data in the manner and on the schedule set by the Contract Manager. The Contractor shall ensure that all data is backed up and is recoverable by the Contractor.

  • Loss of a Facility Hub In the event that BellSouth loses a facility hub, the recovery process is much the same as above. Once the NMC has observed the problem and administered the appropriate controls, the ECC will assume authority for the repairs. The recovery effort will include a) Placing specialists and emergency equipment on notice; b) Inventorying the damage to determine what equipment and/or functions are lost; c) Moving containerized emergency equipment to the stricken area, if necessary; d) Reconnecting service for Hospitals, Police and other emergency agencies; and e) Restoring service to CLECs and other customers. If necessary, BellSouth will aggregate the traffic at another location and build temporary facilities. This alternative would be viable for a location that is destroyed and building repairs are required.

  • Loss of Collateral There occurs any uninsured loss to any material portion of the Collateral; or

  • Consumer Liability Generally. Tell us AT ONCE if you believe your card and/or code has been lost or stolen, or if you believe that an electronic fund transfer has been made without your permission using information from your check or draft. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account (plus your maximum overdraft line of credit). If you tell us within 2 business days after you learn of the loss or theft of your card and/or code, you can lose no more than $50 if someone used your card and/or code without your permission. If you do NOT tell us within 2 business days after you learn of the loss or theft of your card and/or code, and we can prove we could have stopped someone from using your card and/or code without your permission if you had told us, you could lose as much as $500. Also, if your statement shows transfers that you did not make, including those made by card, code or other means, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods.

  • Loss of Warrant Upon receipt by the Company of evidence of the loss, theft, destruction or mutilation of this Warrant, and (in the case of loss, theft or destruction) of indemnity or security reasonably satisfactory to the Company, and upon surrender and cancellation of this Warrant, if mutilated, the Company shall execute and deliver a new Warrant of like tenor and date.

  • Business Interruption Plan ALPS shall maintain in effect a business interruption plan, and enter into any agreements necessary with appropriate parties making reasonable provisions for emergency use of electronic data processing equipment customary in the industry. In the event of equipment failures, ALPS shall, at no additional expense to the Fund, take commercially reasonable steps to minimize service interruptions.

  • Your Liability 15.1 If you believe that a Transaction has not been executed correctly, or that a Transaction has not been authorised by you, you must inform us immediately via our Customer Service. Failure to notify us immediately, as soon as you become aware of it, or in any case within thirteen (13) months of the date of the unexplained or incorrectly executed Transaction, will result in you losing your right to a refund. If we establish that a Transaction has been incorrectly executed, or that it has not been authorised, and that you have promptly reported it to us within 13 months of its execution, then, unless Article 15.3 applies, we will refund the amount to you at the latest at the close of business on the Business Day following the date on which you made the incident known to us (or on which we became aware of it, if that date is earlier). 15.2 Notwithstanding your right to a refund as provided for in Article 15.1, you will be required to bear, without limitation of the amount if you are a Professional Customer, and up to 50 Euros if you are a Consumer Customer, any losses related to any unauthorised Payment Transactions resulting from the use of a lost or stolen payment instrument, or the misappropriation of a payment instrument, unless (i) the loss, theft or misappropriation could not be detected before the payment or (ii) the loss is caused by an act of one of our employees, agents or subcontractors. You will bear all losses related to unauthorised payment Transactions in the event of fraud on your part, or if you have not complied with, intentionally or through gross negligence, one or more of the security obligations provided for in Article 13. 15.3 If we grant a refund request for a disputed Transaction, and thereafter we receive information demonstrating that the Transaction had in fact been authorised, we will deduct the amount of the Transaction being disputed from the Available Funds, and, if applicable, you will be charged for the costs incurred. 15.4 You may also be liable for any reasonable costs incurred in conducting investigations to show that the Transaction had in fact been authorised. 15.5 You undertake to comply with the tax laws and regulations of all jurisdictions that apply to you, and you agree to indemnify Sogexia for any damages suffered in the event of non-compliance with your tax obligations. 15.6 You will assume all risks related to the means of communication that you use, including those resulting from communication errors, misunderstanding or the identity of the customer, or the risk of fraudulent use by unauthorised third parties. You hereby release us from any liability in this regard. 15.7 You expressly agree that, notwithstanding Article 1341 of the Civil Code, we may, whenever necessary or useful, prove our allegations by any legally permissible means in commercial matters, such as by testimony and oath. You expressly authorise us to record our telephone conversations, and to use them in court with the same probative force as a written document. 15.8 Your instructions must be complete, accurate and precise in order to avoid any error, failing which we will be entitled to suspend the execution of Transactions without incurring any liability.

  • Your liability to us (alleged) illegal use, etc (a) This clause applies where: (i) your Service is actually or allegedly used in a way that breaches any law or infringes the rights of any third party; and (ii) we suffer loss or reasonably incur expense as a result. (b) You must make good our loss and reimburse our expenses on request.

  • Loss or Damage The District and its agents and authorized representatives shall not in any way or manner be answerable or suffer loss, damage, expense, or liability for any loss or damage that may happen to the Work, or any part thereof, or in or about the same during its construction and before acceptance, and the Contractor shall assume all liabilities of every kind or nature arising from the Work, either by accident, negligence, theft, vandalism, or any cause whatsoever; and shall hold the District and its agents and authorized representatives harmless from all liability of every kind and nature arising from accident, negligence, or any cause whatsoever.

  • Loss of Funding Performance by Owner under this Agreement may be dependent upon the appropriation and allotment of funds by the Texas State Legislature (the “Legislature”). If the Legislature fails to appropriate or allot the necessary funds then Owner will issue written notice to Architect/Engineer and Owner may terminate this Agreement without further duty or obligation hereunder. Architect/Engineer acknowledges that appropriation of funds is beyond the control of Owner.

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