Security Benefit Life Insurance Sample Clauses

Security Benefit Life Insurance. Company A Member of The Security Benefit Group of Companies One Security Benefit Place, Xxxxxx, XX 00000-0000 0-000-000-0000
Sample 1Sample 2Sample 3See All (4)
AutoNDA by SimpleDocs
Security Benefit Life Insurance. Company A Member of The Security Benefit Group of Companies One Security Benefit Place, Xxxxxx, XX 00000-0000 0-000-000-0000 The variable annuity covered by this Contract is the subject of a pending patent application in the United States Patent and Trademark Office. V6029 (11-00) CONTRACT DATA PAGE 3 DEFINITIONS 4 GENERAL PROVISIONS 7 The Contract 7 Compliance 8 Misstatement of Age or Sex 8 Evidence of Survival 8 Incontestability 8 Assignment 8 Ownership of Assets 8 Transfers 8 Claims of Creditors 9 Basis of Values 9 Participation 9 Statements 9 Delay of Payment 9 OWNERSHIP, ANNUITANT AND BENEFICIARY PROVISIONS 10 Ownership 10 Joint Ownership 10 Annuitant 10 Primary and Contingent Beneficiaries 10 Ownership and Beneficiary Changes 10 PURCHASE PAYMENT PROVISIONS 11 Flexible Purchase Payments 11 Purchase Payment Limitations 11 Purchase Payment Allocation 11 Place of Payment 11 CONTRACT VALUE AND EXPENSE PROVISIONS 11 Contract Value 11 Fixed Account Contract Value 11 Fixed Account Interest Crediting 12 Separate Account Contract Value 12 Accumulation Unit Value 12 Net Investment Factor 13 Determining Accumulation Units 13 Mortality and Expense Risk Charge 13 Rider Charge 13 Method of Deducting Mortality and Expense Risk and Rider Charges 14 Administration Charge 15 Account Administration Charge 15 Premium Tax Expense 15 Withdrawal Charges 15 Free Withdrawals 16 Mutual Fund Expenses 16 WITHDRAWAL PROVISIONS 16 Withdrawals 16 Partial Withdrawals 17 Systematic Withdrawals 17 Withdrawal Value 17 DEATH BENEFIT PROVISIONS 18 Death Benefit 18 Proof of Death 18 Distribution Rules 18 ANNUITY BENEFIT PROVISIONS 19 Annuity Start Date 19 Change of Annuity Start Date 19 Annuity Options 19 Annuity Start Amount 21 Fixed Annuity Payments 21 Variable Annuity Payments 21 Annuity Tables 21 Annuity Payments 22 Annuity Units 22 Annuity Unit Value 22 Alternate Annuity Option Rates 23 AMENDMENTS OR RIDERS, if any OWNER NAME: Xxxx Xxx CONTRACT NUMBER: 123456789 JOINT OWNER NAME: Xxxx Xxx CONTRACT DATE: July 1, 1999 ANNUITANT NAME: Xxxx Xxx ANNUITY START DATE: July 1, 2005 ANNUITANT DATE OF BIRTH: October 5, 1960 PLAN: Non-Qualified
Sample 1
Security Benefit Life Insurance. Company A Member of The Security Benefit Group of Companies One Security Benefit Place, Xxxxxx, XX 00000-0000 0-000-000-0000 V6029 (11-00)U CONTRACT DATA PAGE 3 DEFINITIONS 4 GENERAL PROVISIONS 7 The Contract 7 Compliance 8 Misstatement of Age 8 Evidence of Survival 8 Incontestability 8 Assignment 8 Ownership of Assets 8 Transfers 8 Claims of Creditors 9 Basis of Values 9 Participation 9 Statements 9 Delay of Payment 9
Sample 1
Security Benefit Life Insurance. If you agree to the foregoing, please sign the enclosed copies of this letter and return them to Xxxxxxxx Xxxxx Yu at Xxxxxx Xxxxxxx Investment Management Inc., 0000 Xxxxxx xx xxx Xxxxxxxx, Xxx Xxxx, Xxx Xxxx 00000.
Sample 1
Security Benefit Life Insurance. Company 4. Security Benefit Group, Inc. 5. Security Management Company, LLC 6. Security Distributors, Inc. 7. Creative Impressions, Inc. 8. Security Benefit Academy, Inc. Security Benefit Life Insurance Company and all of its affiliates listed above (hereafter collectively referred to as the "GROUP OF COMPANIES") agree that from time to time certain members of the GROUP OF COMPANIES may furnish personnel, services, office space and equipment (hereafter referred to as "Facilities") to other members of the GROUP OF COMPANIES and that members providing such facilities should be fairly compensated by the member to whom such facilities are provided. In consideration of the mutual promises from and to each party, it is agreed by and between the parties as follows:
Sample 1
Security Benefit Life Insurance. If you agree to the foregoing, please sign the enclosed copies of this letter and return them to Xxxxxxxx Xxxxx Yu at Xxxxxx Xxxxxxx Investment Management Inc., 0000 Xxxxxx xx xxx Xxxxxxxx, Xxx Xxxx, Xxx Xxxx 00000. Sincerely, Xxxxxx Xxxxxxx Investment Management Inc. By: /s/ Xxxxxx X. Xxxxxxx ----------------------------------- Name: Xxxxxx X. Xxxxxxx ----------------------------------- Title: Managing Director ----------------------------------- AGREED and ACCEPTED: Security Benefit Life Insurance Company By: /s/ Xxx Xxxx ----------------------------------- Name: Xxx Xxxx ----------------------------------- Title: Sr. V.P. & CMO ----------------------------------- AMENDMENT TO PARTICIPATION AGREEMENT This AMENDMENT TO PARTICIPATION AGREEMENT (the "Amendment") is made and entered into as of the 1st day of March, 2007, by and among SECURITY BENEFIT LIFE INSURANCE COMPANY (the "Company"), on its own behalf and on behalf of each separate account of the Company identified in the Participation Agreement (as defined below), THE UNIVERSAL INSTITUTIONAL FUNDS, INC. (the "Fund"), XXXXXX XXXXXXX DISTRIBUTION, INC. (the "Underwriter"), and XXXXXX XXXXXXX INVESTMENT MANAGEMENT INC. (the "Adviser").
Sample 1

Related to Security Benefit Life Insurance

  • 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.

  • Disability Benefit If the Executive terminates employment due to Disability prior to Normal Retirement Age, the Company shall pay to the Executive the benefit described in this Section 2.3 in lieu of any other benefit under this Agreement.

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

  • Life Insurance Benefits A. During the life of this Agreement, the basic life insurance benefit made available to Faculty members shall be calculated as 3 times base annual earnings, rounded to the next highest $1,000, but not more than $225,000. A separate additional benefit up to the amount of the life insurance will be paid for accidental death and dismemberment, or loss of sight. The amount of Life and Accidental Death and Dismemberment/Loss of Sight benefits will be reduced to 65% at age 65, and further reduced (from the original insurance amount) as follows: to 50% at age 70, and 35% at age 75. Basic life insurance and AD&D benefits will be provided with no employee contributions. B. Faculty members will be eligible to purchase the following supplemental coverage: 1. additional amounts of group term life insurance at a level of between one and three (3) times the Faculty member’s annual salary with a maximum of $600,000. The guaranteed issue level at initial enrollment will be determined by the life insurance carrier and any amounts over the guaranteed level will be subject to the underwriting requirements of the life insurance carrier. 2. group term life insurance for spouses and domestic partners at a level of between one (1) and three (3) times annual salary with a maximum of $600,000. The guaranteed issue level at initial enrollment will be determined by the life insurance carrier and any amounts over the guaranteed level will be subject to the underwriting requirements of the life insurance carrier. 3. group term life insurance for eligible dependent children at a level of $10,000.

  • Benefit Limit In the event that any payments or benefits to which Employee becomes entitled in accordance with the provisions of this Agreement (or any other agreement with the Company or any other corporation or entity that directly or indirectly controls, is controlled by, or is under common control with the Company) would otherwise constitute a parachute payment under Code Section 280G(b)(2), then such payments and/or benefits will be subject to reduction to the extent necessary to assure that Employee receives only the greater of (i) the amount of those payments which would not constitute such a parachute payment or (ii) the amount which yields Employee the greatest after-tax amount of benefits after taking into account any excise tax imposed under Code Section 4999 on the payments and benefits provided Employee under this Agreement (or on any other payments or benefits to which Employee may become entitled in connection with any change in control or ownership of the Company or the subsequent termination of his employment with the Company). The benefit limits of this paragraph shall be calculated as of the date on which the event triggering any parachute payment is effected, and such calculation shall be completed within thirty (30) days after such effective date. Should the completed calculations require a reduction in benefits in order to satisfy the benefit limit of this paragraph, then the portion of any parachute payment otherwise payable in cash to Employee shall be reduced to the extent necessary to comply with such benefit limit, with each such cash payment to be reduced pro-rata but without any change in the payment dates, and with the cash severance payments detailed herein to be the first and then the benefit payments to be the next such payments so reduced. Should such benefit limit still be exceeded following such reduction, then the number of shares which would otherwise vest on an accelerated basis under each of Employee’s outstanding equity awards shall be reduced to the extent necessary to eliminate such excess, with such reduction to be applied to such equity awards in the same chronological order in which those awards were made.

  • Dependent Life Insurance In the event of the death of your spouse or dependent child from any cause whatsoever, while you and your dependents are insured under the plan, the insurance company will pay you $10,000 in respect of your spouse and $5,000 in respect of each insured dependent child. This applies to those employees with family health coverage only.

  • Benefit Level The primary care clinics available through each plan administrator are assigned a Benefit Level. The Benefit Levels are outlined in the benefit chart below. Primary care clinics may be in different Benefit Levels for different plan administrators. Family members may be enrolled in clinics that are in different Benefits Levels. Employees and their dependents may change to clinics in different Benefit Levels during the annual open enrollment. Employees and their dependents may also elect to move to a clinic in a different Benefit Level within the same plan administrator up to two (2) additional times during the plan year. Unless the individual has a referral from his/her primary care clinic, there are no benefits for services received from providers in Benefit Levels that are different from that of the primary care clinic in which the individual has enrolled.

  • Retiree Life Insurance Employees who retire under the Monroe County Employees' Retirement System shall be eligible for $4,000.00 term life insurance. All employees hired by the Employer on or after October 1, 2007 shall not be eligible for Retiree Life Insurance.

  • Long Term Disability Benefit In the event an employee, while covered under this Plan, becomes totally disabled as a result of an accident or a sickness, then, after the employee has been totally disabled for seven (7) months, including periods approved in Sections 1.3(a) and (c), he/she shall be eligible to receive a monthly benefit as follows: (a) while the employee has a time bank balance to be used on a day-for-day basis, full monthly earnings will continue until the time bank is exhausted, and Section 2.6 will not apply; (b) effective March 1, 2001, when an employee has no time bank, or after it is exhausted, the employee shall receive a monthly benefit equal to the sum of: (1) seventy-five percent (75%) of monthly earnings; (2) annual cost-of-living adjustment of the benefit equal to the consumer price index to a maximum of two percent (2%); (3) for the purpose of the above, earnings shall mean basic monthly earnings of the employee's classification. The date of disability for determining the commencement of the first two (2) years of disability shall be the day following the last month of the Short Term Plan period, or an equivalent seven (7) month period. (c) The Long Term Disability benefit payment will be made as long as an employee remains totally disabled in accordance with Section 2.3, and will cease on the date the employee recovers, or at the end of the month in which the employee reaches age sixty-five (65), or resigns or dies, whichever occurs first. (d) An employee in receipt of long term disability benefits will be considered an employee for purposes of pension and will continue to be covered by group life, extended health, dental and medical plans. Employees will not be covered by any other portion of a collective agreement but will retain the right of access to rehabilitative employment as per Article 12.1 and will retain seniority rights should they return to employment within six (6) months following cessation of benefits. (e) When an employee is in receipt of the benefit described in (b) above, contributions required for benefit plans in (d) above and contributions for pension plan will be waived by the Employer. (f) An employee engaged in rehabilitative employment with the Employer and who is receiving partial Long Term Disability benefit payments will have contributions required for benefit plans in (d) above and contributions for pension waived by the Employer, except that pension contributions shall be deducted from any salary received from the Employer to cover the period of rehabilitative employment.

  • Benefit Coverage The Company agrees to provide pension and welfare benefits as described in the Company Booklets, benefit plan documents or policies of insurance for the duration of the Agreement.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!