Base Death Benefit definition

Base Death Benefit depends on the death benefit type you choose. Under Type A, the Base Death Benefit is the greater of the Stated Death Benefit or a multiple of the Accumulation Value on the date of the Insured's death. Under Type B, the Base Death Benefit is the greater of the Stated Death Benefit plus the Accumulation Value on the date of the Insured's death, or a multiple of the Accumulation Value on the date of the Insured's death.
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Base Death Benefit. The death benefit under the Policy exclusive of the Supplemental Insurance Death Benefit or any other supplemental benefits.
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Base Death Benefit. The death benefit under the Policy, exclusive of any APN or any other supplemental benefits. Beneficiary: The person or entity entitled to receive the Policy Proceeds as they become due after the death of the Insured. Business Day: Any day that We are open for business. Cash Surrender Value: The Gross Cash Surrender Value decreased by the balance of any outstanding Policy Debt. Class: The risk, underwriting and substandard table rating, if any, classification of the Insured. See Section 1. Company:Sun Life Insurance and Annuity Company of New York Daily Risk Percentage: The daily rate for deduction of the mortality and expense risk charge as specified in Section 1.
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Examples of Base Death Benefit in a sentence

  • The net amount at risk is the difference between the Base Death Benefit and your Account Value.

  • The Stated Death Benefit is not reduced by a Partial Withdrawal taken when the Base Death Benefit has been increased to qualify your Policy as life insurance under the Federal income tax laws and the amount withdrawn is no greater than that which reduces your Account Value to the level which no longer requires the Base Death Benefit to be increased for Federal income tax law purposes.

  • Under any death benefit option, if the Base Death Benefit has been increased in order to qualify your Policy as a life insurance contract under the Federal income tax laws, the Partial Withdrawal reduces the Base Death Benefit by an amount greater than the withdrawal.

  • For a Policy under an Option 2 or Option 3 death benefit, a Partial Withdrawal reduces the Base Death Benefit by the amount of the withdrawal.

  • This is defined in the Base Death Benefit provision of the policy.

  • The Base Death Benefit is the greater of the Specified Face Amount plus Gross Cash Surrender Value, or the Gross Cash Surrender Value multiplied by the applicable Death Benefit Percentage specified in Section 1.

  • The Base Death Benefit is the greater of the Specified Face Amount plus the sum of all Premium payments less any Partial Surrenders, or the Gross Cash Surrender Value multiplied by the applicable Death Benefit Percentage specified in Section 1.

  • We may limit the amount of such unscheduled premium payments if the payment would result in an increase in the Base Death Benefit.

  • The Base Death Benefit is the greater of the Specified Face Amount, or the Gross Cash Surrender Value multiplied by the applicable Death Benefit Percentage specified in Section 1.

  • If death benefit type B is shown on the Policy Schedule, the Base Death Benefit equals the larger of: 1.

Related to Base 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.