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 10/01/2008 Between HLIC and Swiss Re Amendment 1 -- Effective March 5, 2010 SCHEDULE A PLANS OF INSURANCE COVERED UNDER THIS AGREEMENT EFFECTIVE MARCH 5, 2010 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 account") 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, ...
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.
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.
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.
LifeAccess Care Rider: Similar to the LifeAccess Accelerated Benefit Rider, but filed as a health product in some states.
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.
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.
Pool -- Effective 10/1/2008 Between HLIC and TFLIC 35 SCHEDULE A PLANS OF INSURANCE COVERED UNDER THIS AGREEMENT EFFECTIVE OCTOBER 1, 2008 SINGLE LIFE PLANS OF INSURANCE RIDERS PROVIDING DEATH BENEFITS RIDERS THAT PROVIDE ADDITIONAL BENEFITS THAT ARE ELIGIBLE FOR REINSURANCE: BUT THAT ARE NOT ELIGIBLE FOR REINSURANCE: Accidental Death Benefit (ADB) Rider Primary Insured Term Rider Accelerated Benefit Rider (ABR) Other Covered Insured Term Life LifeAccess Accelerated Ben.
The Reinsurer’s participation is pursuant to Section 19 - Settlement of Claims, sub-section D, Accelerated Benefit Rider.
No reinsurance premiums will be paid for the riders and the maximum benefit will be $1,000,000 ($2,000,000 for the NY version of the Chronic Illness Accelerated Benefit Rider).
Allocated Retention Pool -- Effective 10/01/2008 Between HLIC and Swiss Re Amendment 11 -- Effective 07/16/2012 RIDERS THAT PROVIDE ADDITIONAL BENEFITS THAT ARE NOT ELIGIBLE FOR REINSURANCE (CONTINUED): LifeAccess Care Rider: Similar to the LifeAccess Accelerated Benefit Rider, but filed as a health product in some states.
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 HLIC and RGA FOREIGN TRAVEL EXCLUSION RIDER EXHIBIT I UNDERWRITING GUIDELINES [Redacted] Single Life 12/01/2002 -- Amendment 1 Between HLIC and RGA FOREIGN TRAVEL EXCLUSION RIDER EXHIBIT II LIST OF COUNTRIES AND JURISDICTIONS [Redacted] Single Life 12/01/2002 -- Amendment 1 Between HLIC and RGA AMENDMENT 2 EFFECTIVE JULY 21, 2003 TO THE REINSURANCE AGREEMENT EFFECTIVE DECEMBER 1, 2002 (AUTO) EFFECTIVE NOVEMBER 1, 2002 (FAC) BETWEEN HARTFORD LIFE INSURANCE COMPANY ("CEDING COMPANY") AND RGA REINSURANCE COMPANY ("REINSURER")
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 HLIC 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 HLIC and Canada Life Effective 4/01/2003 EXHIBIT I REINSURANCE PREMIUM CALCULATION 1. REINSURANCE PREMIUM ANNUAL YRT REINSURANCE PREMIUM [Redacted]
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 Transamerica 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.
Accelerated Benefit Rider. Forms 9304, 9305: Provides for payment of Death Benefit upon certain terminal and chronic illnesses in lieu of payment upon death
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.
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 & Grenadi▇▇▇ 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...