Accelerated Benefit Rider definition

Accelerated Benefit Rider. Provides the policyholder up to 100% of the death benefit, discounted with interest, if the insured's life expectancy is 12 months or less. After acceleration, the Ceding Company shall continue to pay the Reinsurer Reinsurance Premiums on the Reinsured Net Amount at Risk based on the Death Benefit prior to acceleration, and the Reinsurer shall be liable for such Reinsured Net Amount at Risk upon the death of the insured. LifeAccess Accelerated Benefit Rider (LAABR): Provides for monthly benefits (up to 2% of death benefit) if insured meets certain ADL and home-care requirements. During and after acceleration, the Ceding Company shall continue to pay the Reinsurer Reinsurance Premiums on the Reinsured Net Amount at Risk based on the Death Benefit prior to acceleration, and the Reinsurer shall be liable for such Reinsured Net Amount at Risk upon the death of the insured. Policy Continuation Rider: Intended to prevent the lapse of highly loaned policies. Allocated Retention Pool -- Effective 10/1/2008 Between HLIC and Swiss Re Amendment #2 -- Effective 10/1/2008 SCHEDULE A PLANS OF INSURANCE COVERED UNDER THIS AGREEMENT EFFECTIVE OCTOBER 1, 2008 Policy Protection Rider: Protects the death benefit of the base policy and any primary insured term rider from lapse as long as the Policy Protection Account Value ("shadow accounts") is not negative. Enhanced No Lapse Guarantee Rider: Provides that the policy will not lapse as long as cumulative premiums paid less indebtedness and less withdrawals are greater than or equal to the cumulative no lapse guarantee premiums. Length of guarantee varies by issue age. Lifetime No Lapse Guarantee Rider: Same as Enhanced No Lapse Guarantee Rider but with lifetime guarantee. Guaranteed Minimum Accumulation Benefit (GMAB) Rider: Provides, at the end of the GMAB Guarantee Period (usually 20 years), that the policy Account Value will be increased, if necessary, to equal the sum of gross premiums paid to that date. There is a small monthly charge and a minimum cumulative premium requirement to keep the rider in force. Paid-Up Life Insurance Rider: Similar to the GMAB rider, with the same Guarantee Period, a monthly charge, and a cumulative premium requirement. At end of the Guarantee Period, the owner may elect to change coverage to paid-up life using the Account Value as a 5% NSP to determine the amount of coverage; however, the amount of coverage will never be lower than the sum of gross premiums paid to that date. Once elected, p...
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Accelerated Benefit Rider. Provides the policyholder up to 100% of the death benefit, discounted with interest, if the insured's life expectancy is 12 months or less. After acceleration, the Ceding Company shall continue to pay the Reinsurer Reinsurance Premiums on the Reinsured Net Amount at Risk based on the Death Benefit prior to acceleration, and the Reinsurer shall be liable for such Reinsured Net Amount at Risk upon the death of the insured. LifeAccess Accelerated Benefit Rider (LAABR): Provides for monthly benefits (up to 2% of death benefit) if insured meets certain ADL and home-care requirements. During and after acceleration, the Ceding Company shall continue to pay the Reinsurer Reinsurance Premiums on the Reinsured Net Amount at Risk based on the Death Benefit prior to acceleration, and the Reinsurer shall be liable for such Reinsured Net Amount at Risk upon the death of the insured. Policy Continuation Rider: Intended to prevent the lapse of highly loaned policies.
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Accelerated Benefit Rider. With this rider, the policyholder can receive up to 100% of their death benefit discounted with interest if the life expectancy is 12 months or less. Specify Monthly Deductions: This rider allows the policyholder to specify to take monthly deductions out of a particular account in the policy. Mortality and Expense Risk Rider: This rider guarantees that the mortality and expense risk rate will be zero for years greater than and equal to 21.
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Examples of Accelerated Benefit Rider in a sentence

  • LifeAccess Accelerated Benefit Rider (LAABR): Provides for monthly benefits (up to 2% of death benefit) if insured meets certain ADL and home-care requirements.

  • Joint LifeAccess Rider: Similar to the LifeAccess Accelerated Benefit Rider.

  • Accelerated Benefit Rider: With this rider, the policyholder can receive up to 100% of their death benefit discounted with interest if the life expectancy is 12 months or less.

  • I certify that the Terminal Illness Accelerated Benefit Rider and Confined Care Accelerated Benefit Rider Disclosure Forms have been presented to the applicant, if applicable.

  • LifeAccess Care Rider: Similar to the LifeAccess Accelerated Benefit Rider, but filed as a health product in some states.

  • NONE, there is no additional charge for the Terminal Illness Accelerated Benefit Rider.

  • Terminal Illness means a condition that a physician certifies will reasonably be expected to result in death in 24 months or less as specified in the Terminal Illness Accelerated Benefit Rider.

  • If a signature LifeAccess Accelerated Benefit Rider Application is required, it must be signed on or before the Supplement and Policy Owner Disclosure Statement.

  • AdvanceSource Rider (Accelerated Benefit Rider for Chronic Illness (LTC Rider) – Any such rider is not reinsured under this Agreement, but payments made under such a rider are taken into account when determining Reinsured Net Amount at Risk as defined in Article 5 – Reinsured Risk Amounts.

  • Accelerated Benefit Rider: Provides the policyholder up to 100% of the death benefit, discounted with interest, if the insured's life expectancy is 12 months or less.


More Definitions of Accelerated Benefit Rider

Accelerated Benefit Rider. With this rider, the policyholder can receive up to 100% of their death benefit discounted with interest if the life expectancy is 12 months or less. Specify Monthly Deductions: This rider allows the policyholder to specify to take monthly deductions out of a particular account in the policy. Mortality and Expense Risk Rider: This rider guarantees that the mortality and expense risk rate will be zero for years greater than and equal to 21. Foreign Travel Exclusion Rider: The rider is written such that if the insured dies while traveling to, from, or in a country NOT listed on the List of Countries and Jurisdictions (Foreign Travel Exclusion Rider Exhibit II), or dies as a direct or indirect result of an illness or injury sustained during such travel, the death benefit proceeds will be limited to the policy's account value, less any outstanding indebtedness. Single Life 12/01/2002 -- Amendment 1 Between HLAIC and TOLIC 5 FOREIGN TRAVEL EXCLUSION RIDER EXHIBIT IV UNDERWRITING GUIDELINES [Redacted] Single Life 12/01/2002 -- Amendment 1 Between HLAIC and TOLIC 6 FOREIGN TRAVEL EXCLUSION RIDER EXHIBIT V LIST OF COUNTRIES AND JURISDICTIONS [Redacted] Single Life 12/01/2002 -- Amendment 1 Between HLAIC and TOLIC 7 AMENDMENT 2 EFFECTIVE DECEMBER 1, 2003 TO THE REINSURANCE AGREEMENT EFFECTIVE DECEMBER 1, 2002 (AUTO) EFFECTIVE NOVEMBER 1, 2002 (FAC) BETWEEN HARTFORD LIFE AND ANNUITY INSURANCE COMPANY ("CEDING COMPANY") AND TRANSAMERICA OCCIDENTAL LIFE INSURANCE COMPANY ("REINSURER")
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Accelerated Benefit Rider. With this rider, the policyholder can receive up to 100% of their death benefit discounted with interest if the life expectancy is 12 months or less. Specify Monthly Deductions : This rider allows the policyholder to specify to take monthly deductions out of a particular account in the policy. Mortality and Expense Risk Rider: This rider guarantees that the mortality and expense risk rate will be zero for years greater than and equal to 21. Fac for Single Life Excess Pool Between HLAIC and Canada Life Effective 4/01/2003 SCHEDULE B BASIS OF REINSURANCE FACULTATIVE REINSURANCE The Reinsurer will accept X% (as determined at issue) of the risk. NET AMOUNT AT RISK DEFINITION: [Redacted] MINIMUM INITIAL FACULTATIVE REINSURANCE SUBMISSION [Redacted] Fac for Single Life Excess Pool Between HLAIC and Canada Life Effective 4/01/2003 EXHIBIT I REINSURANCE PREMIUM CALCULATION 1. REINSURANCE PREMIUM ANNUAL YRT REINSURANCE PREMIUM [Redacted]
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Accelerated Benefit Rider. With this rider, the policyholder can receive up to 100% of their death benefit discounted with interest if the life expectancy is 12 months or less. Specify Monthly Deductions: This rider allows the policyholder to specify to take monthly deductions out of a particular account in the policy. Mortality and Expense Risk Rider: This rider guarantees that the mortality and expense risk rate will be zero for years greater than and equal to 21. Single Life Excess Pool Between HLIC and Munich Effective 11/01/2002 Fac / 12/01/2002 Auto SCHEDULE B BASIS OF REINSURANCE REINSURANCE POOL SHARE: [Redacted] LEAD REINSURER: [Redacted] AUTOMATIC REINSURANCE: The Ceding Company will retain its available retention on each risk as referenced in Exhibit II. The Reinsurance Pool Share of the remainder will be ceded to the Reinsurer for reinsurance.
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Accelerated Benefit Rider. Forms 9304, 9305: Provides for payment of Death Benefit upon certain terminal and chronic illnesses in lieu of payment upon death
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Accelerated Benefit Rider. With this rider, the policyholder can receive up to 100% of their death benefit discounted with interest if the life expectancy is 12 months or less. SPECIFY MONTHLY DEDUCTIONS: This rider allows the policyholder to specify to take monthly deductions out of a particular account in the policy. MORTALITY AND EXPENSE RISK RIDER: This rider guarantees that the mortality and expense risk rate will be zero for years greater than and equal to 21. POLICY CONTINUATION RIDER: This rider is automatically added to the policy at issue. This rider is intended to prevent the lapse of highly loaned policies.
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Accelerated Benefit Rider. With this rider, the policyholder can receive up to 100% of their death benefit discounted with interest if the life expectancy is 12 months or less. Specify Monthly Deductions: This rider allows the policyholder to specify to take monthly deductions out of a particular account in the policy. Mortality and Expense Risk Rider: This rider guarantees that the mortality and expense risk rate will be zero for years greater than and equal to 21. Foreign Travel Exclusion Rider: The rider is written such that if the insured dies while traveling to, from, or in a country NOT listed on the List of Countries and Jurisdictions (Foreign Travel Exclusion Rider Exhibit II), or dies as a direct or indirect result of an illness or injury sustained during such travel, the death benefit proceeds will be limited to the policy's account value, less any outstanding indebtedness. Single Life 12/01/2002 -- Amendment 1 Between HLIC and Transamerica Financial FOREIGN TRAVEL EXCLUSION RIDER EXHIBIT IV UNDERWRITING GUIDELINES Single Life 12/01/2002 -- Amendment 1 Between HLIC and Transamerica Financial FOREIGN TRAVEL EXCLUSION RIDER EXHIBIT V LIST OF COUNTRIES AND JURISDICTIONS LIST OF COUNTRIES AND JURISDICTIONS ---------------------------------------------------------------------------------------------- AFRICA: EUROPE: LATIN & SOUTH AMERICA: Canary Island Andorra Argentina South Africa Austria Brazil Belgium Chile ASIA PACIFIC: Bulgaria Costa Rica Australia Czech Republic Ecuador Fiji Denmark El Salvador Guam Estonia Mexico Hong Kong Finland Panama Japan France Uruguay Macau Germany Marshall Islands Gibraltar Micronesia Greece New Caledonia Greenland CARIBBEAN: New Zealand Hungary Anguila Niue Iceland Bahamas Okinawa Ireland Barbados Samoa Italy Bermuda Singapore Latvia British Virgin Islands Tonga Liechtenstein Cayman Islands Tuvalu Lithuania Dominica Vanuatu Luxembourg Dominican Republic Malta Grenada NORTH AMERICA: Moldova Guadalupe Canada Monaco Jamaica United States Netherlands Marinique Norway Netherlands Antilles Poland Puerto Rico Portugal St. Lucia Romania St. Vincent & Grenadixxx Sicily Trinidad & Tobago Slovak Republic Turks & Caicos Islands Slovenia U. S. Virgin Islands Spain Sweden Switzerland United Kingdom Single Life 12/01/2002 -- Amendment 1 Between HLIC and Transamerica Financial AMENDMENT 2 EFFECTIVE DECEMBER 1, 2003 TO THE REINSURANCE AGREEMENT EFFECTIVE DECEMBER 1, 2002 (AUTO) EFFECTIVE NOVEMBER 1, 2002 (FAC) BETWEEN HARTFORD LIFE INSURANCE COMPANY ("CEDING CO...
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Related to Accelerated Benefit Rider

  • Vested Benefits means amounts which are vested or which Executive is otherwise entitled to receive under the terms of or in accordance with any plan, policy, practice or program of, or any contract or agreement with, the Company or any of its subsidiaries, at or subsequent to the date of his termination without regard to the performance by Executive of further services or the resolution of a contingency.

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Designated Beneficiary means the beneficiary or beneficiaries the Participant designates, in a manner the Administrator determines, to receive amounts due or exercise the Participant’s rights if the Participant dies or becomes incapacitated. Without a Participant’s effective designation, “Designated Beneficiary” will mean the Participant’s estate.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • SERP Benefit means the benefit described in Section 5.1.

  • Accrued Benefits shall include the following amounts, payable as described herein: (i) all base salary for the time period ending with the Termination Date; (ii) reimbursement for any and all monies advanced in connection with the Executive’s employment for reasonable and necessary expenses incurred by the Executive on behalf of the Employer for the time period ending with the Termination Date; (iii) any and all other cash earned through the Termination Date and deferred at the election of the Executive or pursuant to any deferred compensation plan then in effect; (iv) notwithstanding any provision of any bonus or incentive compensation plan applicable to the Executive, but subject to any deferral election then in effect, a lump sum amount, in cash, equal to the sum of (A) any bonus or incentive compensation that has been allocated or awarded to the Executive for a fiscal year or other measuring period under the plan that ends prior to the Termination Date but has not yet been paid (pursuant to Section 5(f) or otherwise) and (B) a pro rata portion to the Termination Date of the aggregate value of all contingent bonus or incentive compensation awards to the Executive for all uncompleted periods under the plan calculated as to each such award as if the Goals with respect to such bonus or incentive compensation award had been attained at the target level (reduced, but not below zero, by amounts paid under all such contingent bonus or incentive compensation awards upon the Change in Control of the Company to the extent such amounts relate to the same period of time); and (v) all other payments and benefits to which the Executive (or in the event of the Executive’s death, the Executive’s surviving spouse or other beneficiary) may be entitled on the Termination Date as compensatory fringe benefits or under the terms of any benefit plan of the Employer, excluding severance payments under any Employer severance policy, practice or agreement in effect on the Termination Date. Payment of Accrued Benefits shall be made promptly in accordance with the Company’s prevailing practice with respect to clauses (i) and (ii) or, with respect to clauses (iii), (iv) and (v), pursuant to the terms of the benefit plan or practice establishing such benefits; provided that payments pursuant to clause (iv)(B) shall be paid on the first day of the seventh month following the month in which the Executive’s Separation from Service occurs, unless the Executive’s Separation from Service is due to death, in which event such payment shall be made within 90 days of the date of Executive’s death.

  • Refund beneficiary means an individual nominated by a qualified participant or a former qualified participant under section 66 to receive a distribution of the participant's accumulated balance in the manner prescribed in section 67.

  • Termination Benefit means the benefit set forth in Article 7.

  • Covered benefits or “benefits” means those health care services to which a covered person is entitled under the terms of a health benefit plan.

  • Excepted benefits means benefits under one or more (or any combination thereof) of the following:

  • Normal Retirement Benefit means the benefit described in Section 2.1.

  • Maximum Benefit Amount means the maximum amount payable for coverage provided to You as shown in the Schedule of Benefits.

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).

  • Severance from Service Date means the earlier of:

  • Net Benefits Test means a calculation to determine whether the benefits of a reduction in price resulting from the dispatch of Economic Load Response exceeds the cost to other loads resulting from the billing unit effects of the load reduction, as specified in Operating Agreement, Schedule 1, section 3.3A.4 and the parallel provisions of Tariff, Attachment K-Appendix, section 3.3A.4.

  • Disability benefit recipient means a member who is receiving a disability benefit.

  • Annual Benefit Limit means the maximum amount of benefits paid by the Company to the Policy Holder in a Policy Year irrespective of whether any limits of any benefit items stated in the Benefit Schedule have been reached. The Annual Benefit Limit is counted afresh in a new Policy Year.

  • Retirement Benefit means the benefit set forth in Article 5.

  • Annual Benefit means an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).

  • Disability Retirement Date means the first day of the month following the last day of paid employment;

  • Early Retirement Benefit means the retirement benefit payable to a member following early

  • Disability retirement for plan 1 members, means the period

  • Lifetime Benefit Limit means the maximum amount of benefits paid by the Company to the Policy Holder cumulatively since the inception of these Terms and Benefits, irrespective whether any limits of any benefit items stated in the Benefit Schedule have been reached or whether the Annual Benefit Limit in a Policy Year has been reached.