Waiver of Premium Disability Sample Clauses

Waiver of Premium Disability. An equal amount to that attaching to the face amount of Life coverage automatically reinsured. The total WPD that can be reinsured per life is $3,000,000. EXHIBIT G
Sample 1Sample 2Sample 3See All (6)
AutoNDA by SimpleDocs
Waiver of Premium Disability. The REINSURED may cede automatically Waiver of Premium Disability reinsurance in amounts not to exceed the amount applicable to the amount of Life reinsurance ceded automatically.
Sample 1Sample 2See All (5)
Waiver of Premium Disability. An amount equal to that attaching to the face amount of Life coverage retained.
Sample 1Sample 2Sample 3
Waiver of Premium Disability. The REINSURED may cede automatically Waiver of Premium Disability reinsurance in amount applicable to the amount of Life reinsurance ceded automatically not to exceed the following: In addition to the automatic coverage otherwise provided under this agreement, if the REINSURED shall become liable, as a result of having issued a temporary insurance agreement, for a death claim of an amount which, together with the amount retained by the REINSURED under previously-issued policies, if any, exceeds its own limit of retention applicable to the mortality class, plan of insurance, and age at issue for which a premium was collected, the LINCOLN shall accept reinsurance of such excess automatically in an amount not to exceed $1,000,000. This additional automatic coverage shall apply to insurance which is covered under this agreement (as specified in paragraph 1 of the “REINSURANCE COVERAGE” article) but which does not meet all the conditions outlined in paragraph 1 of the “REINSURANCE LIMITS” article. In any case, this additional reinsurance shall terminate when facultative reinsurance is completed. A copy of any temporary insurance agreement form of the REINSURED issued in connection with any policy form eligible for reinsurance under this agreement is attached as Schedule B, Part II. The REINSURED shall notify the LINCOLN immediately of any change in such form. The liability of the LINCOLN for additional coverage under this Schedule B shall be applicable only with respect to temporary insurance agreement forms which have been reviewed and accepted by the LINCOLN for purposes of such additional coverage. TEMPORARY INSURANCE AGREEMENT (To be given to the applicant if payment is made) This Agreement provides a Limited Amount of insurance coverage, for a Limited Period of time, subject to the terms of this agreement. The proposed insured dies while this temporary insurance is in effect, we will pay to the named beneficary the lesser of (a) the amount of all the death benefits applied for in the application. Including any accidental death or other optional beneifts, if applicable or (b) $300,000 This total benefit limit applies to all insurance applied for under conditional receipts and temporary insurance agreements with us and any other companies. Temporary coverage under this agreement will provide the same benefits, and be subject to the same terms as would apply under the policy had it become effective, except for the following limitations on our aggregate liabil...
Sample 1Sample 2
Waiver of Premium Disability. Waiver of Premium Disability Benefit is not reinsured under this Agreement.
Sample 1Sample 2
Waiver of Premium Disability. The premium which the REINSURED charges the insured on the amount reinsured less total allowances of [Omitted] first year and [Omitted] in renewal years. SCHEDULE D, PART III (Continued) Accidental Death Benefits Based on the classification of the occupational manual of the REINSURED: Rates Per Thousand --------------------------------------- Classification First Year Renewal ---------------- ---------- -------
Sample 1
Waiver of Premium Disability. The REINSURED may cede automatically Waiver of Premium Disability reinsurance in amounts not to exceed the amount of Life reinsurance ceded automatically. ACCIDENTAL DEATH BENEFITS AGES STANDARD-SUBSTANDARD ----- -------------------- 5-15 $125,000 16-19 100,000 20-29 200,000 30-65 100,000 Over 65 None SCHEDULE B (Continued) If the REINSURED, before having concluded the necessary reinsurance, shall become liable under a conditional or interim receipt for a death claim of an amount which, together with the amount retained by the REINSURED under previously-issued policies, if any, exceeds its own limit of retention applicable to the mortality class, plan of insurance, and age at issue for which a premium was collected, the LINCOLN shall accept reinsurance of such excess automatically in an amount not to exceed one-third of the lesser of (a) the maximum amount the REINSURED may cede automatically, as described above, plus 50% of any amount in excess thereof and (b) $250,000. The REINSURED shall submit copies of its conditional receipt to the LINCOLN and shall notify the LINCOLN immediately of any change therein. REPORTS
Sample 1
AutoNDA by SimpleDocs
Waiver of Premium Disability. The REINSURED may cede automatically Waiver of Premium Disability reinsurance in amount applicable to the amount of life reinsurance ceded automatically not to exceed the following: Ages Standard-Table 6 Over Table 6 ---- ---------------- ------------ 0-44 [Omitted] 45-65 Over 65
Sample 1
Waiver of Premium Disability. The premium which the REINSURED charges the insured on the amount reinsured less total allowances of [percentage] first year and [percentage] in renewal years. MALE RATE TABLE Guaranteed Maximum Monthly Cost of Insurance Rates per $1,000 for Insureds with a Standard Rate Classification Standard Standard Standard Attained Non- Attained Non- Attained Non- Age Standard Smoker Age Standard Smoker Age Standard Smoker --- -------- ------ --- -------- ------ --- -------- ------ For insureds with other than a standard rating classification, the guaranteed monthly cost of insurance rates are calculated by multiplying the above monthly rates by the Special Class Rating Factor shown under Policy Data. FEMALE RATE TABLE Guaranteed Maximum Monthly Cost of Insurance Rates per $1,000 for Insureds with a Standard Rate Classification Standard Standard Standard Attained Non- Attained Non- Attained Non- Age Standard Smoker Age Standard Smoker Age Standard Smoker --- -------- ------ --- -------- ------ --- -------- ------ For insureds with other than a standard rating classification, the guaranteed monthly cost of insurance rates are calculated by multiplying the above monthly rates by the Special Class Rating Factor shown under Policy Data. ARBITRATION SCHEDULE To initiate arbitration, either the REINSURED or the [name of reinsurance company] shall notify the other party in writing of its desire to arbitrate, stating the nature of its dispute and the remedy sought. The party to which the notice is sent shall respond to the notification in writing within ten (10) days of its receipt. The arbitration hearing shall be before a panel of three arbitrators, each of whom must be a present or former officer of a life insurance company. An arbitrator may not be a present or former officer, attorney, or consultant of the REINSURED or the [name of reinsurance company] or either's affiliates. The REINSURED and the [name of reinsurance company] shall each name five (5) candidates to serve as an arbitrator. The REINSURED and the [name of reinsurance company] shall each choose one candidate from the other party's list, and these two candidates shall serve as the first two arbitrators. If one or more candidates so chosen shall decline to serve as an arbitrator, the party which named such candidate shall add an additional candidate to its list, and the other party shall again choose one candidate from the list. This process shall continue until two arbitrators have been chosen and have accep...
Sample 1

Related to Waiver of Premium Disability

  • Termination by Disability In the event the employment of the Optionee is terminated by reason of Disability, the Option shall become immediately and fully exercisable as of the date the Committee determines the Optionee terminated for Disability and shall remain exercisable at any time prior to the end of the Exercise Term, or for one (1) year after the date of termination, whichever period is shorter.

  • By Disability If Executive becomes eligible for the Company’s long term disability benefits or if, in the sole opinion of the Company, Executive is unable to carry out the responsibilities and functions of the position held by Executive by reason of any physical or mental impairment for more than ninety consecutive days or more than one hundred and twenty days in any twelve-month period, then, to the extent permitted by law, the Company may terminate Executive’s employment. The Company shall pay to Executive all compensation to which Executive is entitled up through the date of termination, and thereafter all obligations of the Company under this Agreement shall cease. Nothing in this Section shall affect Executive’s rights under any disability plan in which Executive is a participant.

  • Death; Disability If Executive’s employment terminates due to Executive’s death or Disability, then the Company shall pay or provide Executive (or the legal representative of his estate in the case of his death) with: (i) (A) any accrued and unpaid Base Salary through the date of termination and any accrued and unused vacation in accordance with Company policy; and (B) reimbursement for any unreimbursed expenses, incurred and documented in accordance with applicable Company policy, through the date of termination (collectively, “Accrued Obligations”). Accrued Obligations payable under clause (A) shall be payable within fifteen (15) days following the date of termination, and under clause (B) shall be paid within fifteen (15) days after Executive shall have provided the Company all required documentation therefor; (ii) Any unpaid bonus earned with respect to any fiscal year ending on or preceding the date of termination, payable when bonuses are paid generally to senior executives for such year; (iii) A pro-rated annual bonus for the fiscal year in which such termination occurs, the amount of which shall be based on actual performance under the applicable bonus plan (for this purpose determined at fiscal year end, by treating Company financial performance goals for such fiscal year as the only performance goals applicable to Executive and without any exercise of negative discretion by the Committee) and the fraction the numerator of which is the number of days elapsed during the performance year through the date of termination and the denominator of which is 365, which pro-rated bonus shall be paid when bonuses are paid generally to senior executives for such year (“Pro-Rated Bonus”); (iv) Any disability insurance benefits, or life insurance proceeds, as the case may be, as may be provided under the Company plans in which Executive participates immediately prior to such termination; and (vii) All of Executive’s other unvested long-term incentive awards granted to Executive through the date of termination, shall vest or be forfeited, and any such vested awards granted as stock options shall be exercisable, in accordance with the terms and conditions set forth in such awards.

  • 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.

  • ’ Compensation Insurance and Disability Benefits Requirements New York State Workers’ Compensation Law (WCL) §57 & §220 requires the heads of all municipal and state entities to ensure that businesses applying for permits, licenses or contracts, document that they have appropriate workers’ compensation and disability benefits insurance coverage. These requirements apply to both original contracts and renewals, whether the governmental agency is having the work done or is simply issuing the permit, license or contract. Failure to provide proof of such coverage or a legal exemption will result in a rejection of a Vendor Submission or renewal. A Vendor may not be awarded a Contract unless proof of workers’ compensation and disability insurance is provided to OGS. 1. Proof of Compliance with Workers’ Compensation Coverage Requirements: An XXXXX form (certificate of insurance) is NOT acceptable proof of workers’ compensation coverage. In order to provide proof of compliance with the requirements of the Workers’ Compensation Law pertaining to workers’ compensation coverage, a Vendor/Contractor shall: a) Be legally exempt from obtaining Workers’ Compensation insurance coverage; or b) Obtain such coverage from an insurance carrier; or c) Be a Workers’ Compensation Board-approved self-insured employer or participate in an authorized self-insurance plan. A Vendor seeking to enter into a Contract with the State of New York shall provide one of the following forms to OGS at the time of Vendor Submission, and thereafter, within three (3) days of request: a) Form CE-200, Certificate of Attestation for New York Entities With No Employees and Certain Out of State Entities, That New York State Workers’ Compensation and/or Disability Benefits Insurance Coverage is Not Required, which is available on the Workers’ Compensation Board’s website (xxx.xxx.xx.xxx); (Reference applicable Solicitation and Group #s on the form.); b) Certificate of Workers’ Compensation Insurance: i) Form C-105.2 (9/07) if coverage is provided by the Vendor/Contractor’s insurance carrier, the Vendor/Contractor must request that its insurance carrier send this form to OGS, or ii) Form U-26.3 if coverage is provided by the State Insurance Fund, the Vendor/Contractor must request that the State Insurance Fund send this form to OGS; c) Form SI-12, Certificate of Workers’ Compensation Self-Insurance available from the New York State Workers’ Compensation Board’s Self-Insurance Office; or d) Form GSI-105.2, Certificate of Participation in Workers’ Compensation Group Self-Insurance available from the Vendor/Contractor’s Group Self-Insurance Administrator.

  • State Disability Insurance a. The County shall maintain State Disability Insurance (SDI), at the employee cost, for employees in classes covered by the Agreement. This section shall not be valid if the membership elects to withdraw from SDI during the term of this Agreement and the State has approved withdrawal from SDI. b. Employees who are absent from duty because of illness or injury and have been authorized to use County-paid leave benefits, sick leave, vacation, compensating time off, holidays and holiday-in-lieu time, shall be eligible to integrate the payment of State Disability Insurance benefits with such County-paid leave benefits. No integration of County-paid leave benefits and State Disability Insurance shall occur unless the appointing authority has approved the use of the County-paid leave benefits by the employee requesting integration. c. Integration of County-paid leave benefits with State Disability Insurance will require detailed procedures which the County shall, in its sole discretion, implement to ensure the equitable application of the program consistent with this Agreement provision. In accordance with current County policy, integration of County-paid leave balances and State Disability Insurance shall not be paid in a retroactive manner. d. Integration of County-paid leave balances and State Disability Insurance shall take place subject to the following conditions: (1) The intent of this program and contract provision is to insure that those employees who participate in the program comply with all applicable laws, policies, and procedures established to provide integration of County-paid leave balances and State Disability Insurance so as to provide a combined biweekly adjusted net income equivalent to 100% of regular net income - gross income less required deductions, such as taxes, retirement, State Disability Insurance premiums, and other mandatory deductions - as long as such eligible disability qualifies and available leave balances are authorized by the appointing authority. Other employee authorized deductions shall be deducted from the resultant net pay. (2) Upon approval of the use of County-paid leave benefits by the appointing authority and the employee's established eligibility for State Disability Insurance, the County shall make leave accrual payments to the employee in the usual manner except that the net pay, including State Disability Insurance benefits and net County pay, shall not exceed 100% of the regular net pay. If State Disability Insurance benefits equal or exceed 100% of the regular net pay, no County payment shall be made. County-paid leave benefits shall be used in the following order: sick leave, vacation, compensating time off, and holiday-in-lieu time. (3) Special pay allowances not of a permanent nature, such as overtime compensation, standby, night shift differential, call back or out-of- class pay, shall not be counted in determining the employee's gross or net pay. (4) Sick leave, vacation, and holiday-in-lieu shall not accrue during any pay period in which the employee receives County-paid leave benefits integrated with State Disability Insurance payments, except that the employee shall accrue sick leave, vacation, and holiday-in- lieu for any actual hours worked during a pay period in which integration occurs. Service credits toward seniority and step increase eligibility shall not be affected by any pay period during which an employee is on the integrated leave and State Disability Insurance program. (5) When an employee exhausts all available County-paid leave balances, the employee shall either return to work or request an unpaid leave of absence from his/her appointing authority. Regardless of whether the employee continues to receive State Disability Insurance payments, once all County-paid leave balances are exhausted, County compensation shall cease unless the employee returns to work. (6) The County shall continue its contributions towards the employee's health, dental, life and retirement contributions in accordance with established laws and practices during the pay periods which include County payment for integrated leave balances. The employee shall be responsible for payment of premiums required to maintain insurance coverage when County contributions cease. (7) Eligible part-time employees shall be included in this program on a prorated basis. e. In the event the County determines that legislative or judicial determinations cause changes which in any way restrict, reduce or prohibit this program operation, it shall immediately and automatically terminate without any further action by either party to this Agreement.

  • Termination upon Disability If this Agreement is terminated by either party as a result of the Executive's disability, as determined under Section 5.2, the Employer will pay the Executive his Salary through the remainder of the calendar month during which such termination is effective and for the lesser of (i) six consecutive months thereafter, or (ii) the period until disability insurance benefits commence under the disability insurance coverage furnished by the Employer to the Executive.

  • Definition of Disability For purposes of this Agreement, “Disability” (and any of its forms) means that, for more than six consecutive months, the Executive is unable, with reasonable accommodation, to perform the duties described in Section 4.01 on a full-time basis due to a physical or mental disability or infirmity.

  • STATE DISABILITY INSURANCE (SDI) The Agency agrees to integrate SDI benefits with sick leave. The employee shall pay required premium costs which will be deducted from their paycheck and transmitted to the state by the Agency.

  • Optional Life and Disability Coverages In order for coverage to become effective, the employee must be in active payroll status and not using sick leave on the first day following approval by the insurance company. If it is an open enrollment period, coverage may be applied for but will not become effective until the first day of the employee's return to work.

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