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 options described in the Benefit Options section of this contract.

Examples of Benefit Option in a sentence

• A partial withdrawal will not change the face amount of a Policy on which the owner has selected Death Benefit Option B or Death Benefit Option C.

• Under Death Benefit Option C, the death benefit could be less than the face amount if the total withdrawals are greater than the total premiums paid.

• The excess of any withdrawal over this amount may cause a reduction in Face Amount if the Death Benefit Option is Option A, as described below.

• The death benefit will be the greater of the Guideline Minimum Death Benefit or one of the following three options: (1) Death Benefit Option A — the face amount of the Policy; (2) Death Benefit Option B — the face amount of the Policy plus the accumulated value; or (3) Death Benefit Option C — the face amount of the Policy plus the total premiums paid minus total withdrawals.

• During the Access Period, this will result in an amount no less than the Guaranteed Income Benefit amount being paid from the Account Value, which may result in a lower Account Value than otherwise would be available in the absence of the Guaranteed Income Benefit Option.

More Definitions of Benefit Option

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

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 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 the option selected by the Client to benefit from an increase, decrease or both increase/decrease in the Reference Future

Benefit Option means each type of welfare benefit provided under this Plan as described from time to time in Appendix B and the related Summary Plan Descriptions. To the extent the terms of any Benefit Option conflict with the terms of this document, the terms of this document shall control.

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