Benefit Option definition

Benefit Option means any benefit listed in Exhibit A and for which an Eligible Employee may elect to make pre-tax contributions pursuant to Article VI and Article XII of the Plan.

Benefit Option means an option for coverage within an underlying Component Benefit (such as a particular “benefit package” within a group health plan).

Benefit Option means the medical plan, dental plan, vision plan, and health flexible spending account (HFSA).

Examples of Benefit Option in a sentence

• If Death Benefit Option B is in effect at the time of a Withdrawal, the Withdrawal will not reduce the Basic Face Amount, but it will reduce the Accumulated Value.

• When Death Benefit Option A is in effect, a requested withdrawal may increase the Net Amount at Risk, in which case, We will decrease the Basic Face Amount as follows: · During the first 15 Policy years, but only in the case of the first withdrawal of a given Policy year, the Basic Face Amount will be decreased only to the extent that the withdrawal exceeds the lesser of $10,000 or 10% of the Accumulated Value less any Maximum Surrender Charge and Policy Debt.

• Descriptions of all the Available Death Benefit Options on this Policy and the initial Death Benefit Option In Effect are shown in the Policy Specifications.

• Any such Death Benefit Option change will be shown in a Supplemental Schedule of Coverage that will be sent to the Address on Record at the time of the change.

• If the Guideline Premium Test is the Death Benefit Qualification Test in Effect, then Change of Death Benefit Option requests will be subject to the Guideline Premium Limit as defined in the Code.

More Definitions of Benefit Option

Benefit Option means the options described in the Benefit Options section of this contract.

Benefit Option means an option for coverage within an underlying Component Benefit (such

Benefit Option means any of the following benefits that the Employer specifies in Item IV of the Adoption Agreement, which Employees can elect and pay for with pretaxsalary reduction contributions: the Medical Plan, the Dental Plan, the Accidental Death and Dismemberment Plan, the Group Term Life Insurance Plan, the Disability Plan, the Medical FSA, the Dependent Care FSA, and Health Savings Account contributions.

Benefit Option means a Qualified Benefit (including any separate option for coverage under an underlying accident or health plan) or a Permitted Taxable Benefit that is offered under a Component Plan.

Benefit Option means a benefit available to a Participant under the Plan as set forth in the Summary Plan Description. Benefit Options may include any welfare benefits excludable from the Employee's taxable income under applicable sections of the IRS Code and Income Tax Regulations. To be an eligible Benefit Option qualifying for pre-tax treatment under the Plan, a benefit must be specifically listed in the Summary Plan Description currently in force.

Benefit Option means the option chosen by the Policyholder at Policy inception, as specified in the Policy Schedule. The benefits offered under the Policy will be based on the option chosen at inception and cannot be changed later on during the Policy Term.

Benefit Option means any of the following: