Compulsory Sum Assured definition

Compulsory Sum Assured means the sum specified in the Schedule, payable upon the death of the Member;
Compulsory Sum Assured means the sum specified in the Schedule, payable upon the death of the Member, under the compulsory life insurance cover effected under this Policy in accordance with Section 4.2 of this Policy;

Examples of Compulsory Sum Assured in a sentence

  • No Units from the Unit Account will be redeemed by Us for the payment of the Compulsory Sum Assured.

  • While the Policy is in force and if the Insured Event is the death of the Member, in addition to the Gratuity Benefit, We shall also pay the Compulsory Sum Assured to the Beneficiary through You.

  • Upon return of this Policy by the Master Policyholder, this Policy shall terminate forthwith and all rights, benefits including Gratuity Benefit and Compulsory Sum Assured and any interests under this Policy shall cease.

  • Compulsory Sum Assured means the sum specified in the Schedule, payable upon the Member’s death under the compulsory life insurance cover.

  • We shall deduct the premium in respect of the Compulsory Sum Assured as specified in the Schedule by redeeming Units from the Unit Account on a monthly basis.

  • If the Insured Event is the death of the Member, in addition to the Gratuity Benefit per Article 5)a), We shall also pay the Compulsory Sum Assured.

Related to Compulsory Sum Assured

  • Compulsory school age means the period of a child’s life from the time the child enters school, which may be no later than at the age of eight (8) years, until the age of 17 years or graduation from high school, whichever occurs first.

  • Compulsory-school-age child means a child who has attained or will attain the age of six (6) years on or before September 1 of the calendar year and who has not attained the age of seventeen (17) years on or before September 1 of the calendar year; and shall include any child who has attained or will attain the age of five (5) years on or before September 1 and has enrolled in a full-day public school kindergarten program. A child, five (5) years of age, who enrolls in public kindergarten, will have to abide by the same guidelines as outlined in the §37-13-91.

  • Sum Assured means the amount specified in the Schedule

  • Compulsory Acquisition means requisition for title or other compulsory acquisition, requisition, appropriation, expropriation, deprivation, forfeiture or confiscation for any reason of a Ship by any Government Entity or other competent authority, whether de jure or de facto, but shall exclude requisition for use or hire not involving requisition of title;

  • Compulsory Documents means the list of compulsory schedules and documents set out in Part B.

  • Compulsory License means a compulsory license under the Licensed Patents obtained by a Third Party through the order, decree, or grant of a governmental authority of competent jurisdiction, authorizing such Third Party to manufacture, use, sell, offer for sale or import a Competitive Product in one or more countries within the Territory.

  • Compulsory arbitration means the procedure whereby parties involved in a labor dispute

  • Condemnation means a temporary or permanent taking by any Governmental Authority as the result or in lieu or in anticipation of the exercise of the right of condemnation or eminent domain, of all or any part of the Property, or any interest therein or right accruing thereto, including any right of access thereto or any change of grade affecting the Property or any part thereof.

  • Landlord Party or “Landlord Parties” shall mean Landlord, any affiliate of Landlord, Landlord’s managing agents for the Building, each mortgagee (if any), each ground lessor (if any), and each of their respective direct or indirect partners, officers, shareholders, directors, members, trustees, beneficiaries, servants, employees, principals, contractors, licensees, agents or representatives. For the purposes of this Lease, the term “Tenant Party” or “Tenant Parties” shall mean Tenant, any affiliate of Tenant, any permitted subtenant or any other permitted occupant of the Premises, and each of their respective direct or indirect partners, officers, shareholders, directors, members, trustees, beneficiaries, servants, employees, principals, contractors, licensees, agents, invitees or representatives.

  • Authority’s Premises means any premises occupied by or under the control of the Authority where the Services are to be supplied, as set out in the Specification.

  • Condemnor means any public or quasi-public authority, or private corporation or individual, having the power of condemnation.

  • Leased Property shall have the meaning given such term in Section 2.1.

  • First party insurance means an insurance policy or contract in which the insurer agrees to pay a claim submitted to it by the insured for the insured's losses.

  • Expense Advance means a payment to Indemnitee pursuant to Section 3 of Expenses in advance of the settlement of or final judgement in any action, suit, proceeding or alternative dispute resolution mechanism, hearing, inquiry or investigation which constitutes a Claim.

  • post compulsory deduction salary means the amount of salary available to be packaged after payroll deductions required by legislation or order have been taken into account. Such payroll deductions may include, but are not limited to, taxes, compulsory superannuation payments, HECS payments, child support payments, and judgement debtor/garnishee orders.

  • Relevant Disposal means and includes any disposal by the Appointee;

  • Landlord Parties means Landlord and Property Manager and their respective officers, directors, partners, shareholders, members and employees.

  • Eminent Domain means the taking of title to, or the temporary use of, the Project or any part thereof pursuant to eminent domain or condemnation proceedings, or by any settlement or compromise of such proceedings, or any voluntary conveyance of the Project or any part thereof during the pendency of, or as a result of a threat of, such proceedings.

  • Condemnation Award means all proceeds of any Condemnation or transfer in lieu thereof.

  • Reassured shall be understood to mean “Company”, “Reinsured”, “Reassured” or whatever other term is used in the attached reinsurance document to designate the reinsured company or companies.

  • Condominium Association ’ means the organization, whose membership consists ex- clusively of all the unit owners in the con- dominium project, which is, or will be respon- sible for the operation, administration, and management of the condominium project;

  • Self-insured retention means the individual own risk employer's or group self-insurance association's retained amount of risk under a specific excess insurance policy, before the liability is transferred to an insurance carrier.

  • Leased Premises means the Leased Premises as defined in Paragraph 1.

  • Insured Risks means fire lightning explosion earthquake storm tempest flood subsidence landslip heave impact terrorism bursting or overflowing of water tanks and pipes earthquake damage by aircraft and other aerial devices or articles dropped there from riot and civil commotion labour disturbance and malicious damage and such other risks as the Academy Trust insures against from time to time subject in all cases to any exclusions or limitations as may from time to time be imposed by the insurers or underwriters;

  • Expropriation ’ means the compulsory acquisition of property by an expropriating authority or an organ of state upon request to an expropriating authority, and ‘‘expropriate’’ has a corresponding meaning;

  • Indemnifiable Expenses Indemnifiable Liabilities" and "Indemnifiable Amounts" shall have the meanings ascribed to those terms in Section 3(a) below.