Accelerated death benefit definition

Accelerated death benefit means the advance payment of some or all of the death proceeds payable under a certificate:
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Accelerated death benefit means the advance payment of some or all of the death proceeds payable under a life insurance policy:
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Accelerated death benefit means the amount of advanced Death Benefit payment under Clause D.4;
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Examples of Accelerated death benefit in a sentence

  • POLICY LIEN Accelerated death benefit payments made under this Rider are an advance of the Specified Insured's death benefit.

  • These include:• Accidental dismemberment benefit• Seatbelt benefit• Repatriation benefit• Felonious assault benefit• Accelerated death benefit optionReduction in Benefit AmountsThe benefit amounts provided to members covered under the GLI are subject to a reduction factor.

  • Accelerated death benefit for Servicemembers’ Group Life I n- surance and Veterans’ Group Life I nsurance participants.Sec.

  • Accelerated death benefit option endorsementThe benefit under this endorsement will not be paid if the terminal illness results from self-inflicted injury(ies) at any time.

  • Here's a list of commonly used terms: Accelerated death benefit: A benefit allowing terminally ill or chronically ill life insurance policyholders to receive cash advances of all or part of the expected death benefit.

  • Accelerated death benefit options arose in the 1990s at the same time that viatical settlements (payments derived from sale of an insurance policy by a terminally ill policy holder) became more common.

  • These include:o Accidental dismemberment benefito Safety belt benefito Repatriation benefito Felonious assault benefito Accelerated death benefit option Reduction in benefit AmountsThe benefit amounts provided to members covered under the Group Life Insurance Program are subject to a reduction factor.

  • Accelerated death benefit for Servicemembers’ Group Life Insurance and Veterans’ Group Life Insurance participants.

  • These include:o Accidental dismemberment benefito Safety belt benefito Repatriation benefito Felonious assault benefito Accelerated death benefit optionReduction in Benefit AmountsThe benefit amounts provided to members covered under the GLI are subject to a reduction factor.

  • These include:o Accidental dismemberment benefito Safety belt benefito Repatriation benefito Felonious assault benefito Accelerated death benefit option Reduction in Benefit Amounts: The benefit amounts provided to members covered under the GLI Program are subject to a reduction factor.


More Definitions of Accelerated death benefit

Accelerated death benefit means proceeds payable in part or in full under a life insurance policy to a policyowner or certificateholder during the lifetime of the insured:
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Accelerated death benefit or “ADB” means a benefit that will allow the employee to receive an advance on the amount of his death benefit once he has been diagnosed as terminally ill. [A person is terminally ill if the person:
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Accelerated death benefit as used in this chapter, means a benefit that is added to a life insurance policy to provide for the advance payment of any part of the death proceeds payable upon the occurrence of a qualifying event.
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Related to Accelerated death benefit

  • 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.

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

  • Accrued Benefit have the meanings specified in ERISA.

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

  • SERP Benefit means the benefit described in Section 5.1.

  • Change in Control Benefit means the benefit set forth in Section 4.1 below.

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

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

  • Severance Benefit means the payment of severance compensation as provided in Article III.

  • Actuarial equivalent means a benefit of equal value when

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

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

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

  • Severance from Service Date means the earlier of:

  • 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.

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

  • Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.

  • Disability Benefit means the benefit set forth in Article 8.

  • Termination Benefits means the benefits described in Section 4.1(b).

  • Change in Control Benefits means the following benefits:

  • 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).

  • 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.

  • Last Monthly Benefit means the gross Monthly Benefit payable to the Insured Employee immediately prior to death. Any reductions for Other Income Benefits, or for earnings the Insured Employee received for Partial Disability Employment, will not apply.

  • Maximum Benefit means the maximum benefit amount of each of the benefits covered under this Policy as stated in the Schedule of Benefits.

  • Lump Sum Payment means, collectively, the lump-sum payments that may be payable to Executive pursuant to the first sentence of Subsection 6(b)(iii) and pursuant to Subsection 6(c)(ii)(B).