Basic Life Insurance definition

Basic Life Insurance means life insurance provided to an Eligible Employee under a plan sponsored by Parent or a subsidiary of Parent equal to 1x "base pay" as defined under the life insurance plan in which the Eligible Employee participates, as it may be amended from time to time.
Sample 1Sample 2Sample 3
Basic Life Insurance means the amount of life insurance that the Department provides at no charge to an employee or officer.
Sample 1Sample 2Sample 3
Basic Life Insurance means the employee group term life insurance coverage in effect for a Covered Employee on the date he/she incurs a Separation From Service as follows:
Sample 1Sample 2

Examples of Basic Life Insurance in a sentence

  • The Living Benefit will be an amount equal to 50% of Your Employee Basic Life Insurance in effect on the date Your election is made, subject to a minimum of $5,000 and a maximum of $50,000.

  • The Living Benefit will be an amount equal to 50% of Your Employee Basic Life Insurance in effect on the date Your election is made, subject to a minimum of $5,000 and a maximum of $100,000.

  • If the policy terminates within 60 days of the end of the calendar year, a final Child Care Benefit will be paid when eligible.In no event will the total of all Additional Accidental Death Benefits payable exceed 100% of Your AD&D Principal Sum.In addition to the above limitations, this benefit is subject to the further limitations and provisions of this Section 12.GC 2510.15-4 SECTION 12 - ACCIDENTAL DEATH AND DISMEMBERMENTSECTION 12E - CHILD CARE BENEFIT This Section applies to Basic Life Insurance.

  • At the end of Continuation of Insurance period, You may apply, if eligible, for Waiver of Premium for Total Disability, see Section 8, if available; or may be eligible to apply to convert the Life Amount to an individual life insurance policy pursuant to Section 10.GC 2510.9 SECTION 7 - CONTINUATION OF INSURANCE(Waiver: Included) This Section applies to Basic Life Insurance.

  • ENROLLMENT PROCESS In order to enroll for Life Insurance for Your Dependents, You must either (a) already be enrolled for Basic Life Insurance for You or (b) enroll at the same time for Basic Life Insurance for You.

  • Basic Life Insurance Death BenefitWe will pay a benefit if You die while covered in accordance with the provisions of the Policy.

  • Employees who become insured for MetLife Supplemental Life Insurance and/or non- contributory Basic Life Insurance will also have access to funeral planning resources including funeral planning tools and concierge services provided by the same national network of providers.

  • Eligible Coverages: What coverages are eligible under this provision?This provision applies only to Your Basic Life Insurance.

  • Amount of Benefit The Accelerated Death Benefit is an amount equal to the lesser of 75% of the amount of Basic Life Insurance to which You are entitled on the date You apply in Writing for this benefit, to a maximum benefit of $250,000.A lesser amount of Accelerated Benefit may be elected.

  • Included are Basic Life Insurance coverage and Accidental Death and Dismemberment (AD&D) coverage.


More Definitions of Basic Life Insurance

Basic Life Insurance. The Board of Education will provide Administrator with a basic life insurance policy and coverage of $ 5,000.00. Dental Insurance: Administrator shall be offered self-funded dental insurance paid by the Board of Education. The Board reserves the right to select the carrier for the dental fringe benefits. The total premiums for the dental fringe shall be paid by the Board of Education. Vision Insurance: Administrator shall be offered self-funded vision insurance paid by the Board of Education. The Board reserves the right to select the carrier for the vision fringe benefits. The total premiums for the vision fringe shall be paid by the Board of Education.
Sample 1Sample 2
Basic Life Insurance. 200% of annual basic earnings.
Sample 1
Basic Life Insurance. A term life insurance is provided, paid in full by BMC covering one times your annual salary, effective upon date of hire.
Sample 1
Basic Life Insurance means life insurance provided to an Eligible Employee under a plan sponsored by the Employer equal to 1.0 x “base pay” as defined under the life insurance plan in which the Eligible Employee participates, as it may be amended from time to time.
Sample 1

Related to Basic Life Insurance

  • Life insurance means insurance coverage on human lives including benefits of endowment and annuities, and may include benefits in the event of death or dismemberment by accident and benefits for disability income and unless otherwise specifically excluded, includes individually issued annuities.

  • Life Insurance Policy has the meaning given in Section 6.10.

  • Life Insured means the person named in the Schedule, on whose life the Policy is effected;

  • policy of life insurance means any instrument by which the payment of money is assured on death (except death by accident only) or the happening of any contingency dependent on human life, or any instrument evidencing a contract which is subject to payment of premiums for a term dependent on human life;

  • life insurance business means the business of providing or undertaking to provide policy benefits under life policies;

  • Credit life insurance means insurance on the life of a debtor in connection with

  • Insurance Company The Transferee is an insurance company whose primary and predominant business activity is the writing of insurance or the reinsuring of risks underwritten by insurance companies and which is subject to supervision by the insurance commissioner or a similar official or agency of a state, U.S. territory or the District of Columbia.

  • Guaranteed automobile protection insurance means insurance offered in

  • Blanket insurance policy means a group policy covering a defined class of

  • ' Compensation Insurance With respect to all operations performed, the Party shall carry workers’ compensation insurance in accordance with the laws of the State of Vermont. Vermont will accept an out-of-state employer's workers’ compensation coverage while operating in Vermont provided that the insurance carrier is licensed to write insurance in Vermont and an amendatory endorsement is added to the policy adding Vermont for coverage purposes. Otherwise, the party shall secure a Vermont workers’ compensation policy, if necessary to comply with Vermont law.

  • Reimbursement insurance policy means a policy of insurance

  • Fidelity Insurance means insurance coverage with respect to employee errors, omissions, dishonesty, forgery, theft, disappearance and destruction, robbery and safe burglary, property (other than money and securities) and computer fraud in an aggregate amount acceptable to Seller’s regulators.

  • Long-term care insurance means group insurance that is authorized by the retirement system for retirants, retirement allowance beneficiaries, and health insurance dependents, as that term is defined in section 91, to cover the costs of services provided to retirants, retirement allowance beneficiaries, and health insurance dependents, from nursing homes, assisted living facilities, home health care providers, adult day care providers, and other similar service providers.

  • Lot coverage means the portion or percentage of the area of a lot upon which buildings are erected.

  • Franchise insurance means an individual insurance policy provided through a