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.

  • Once the Gratuity Benefit and/or the Compulsory Sum Assured, is/are paid to the Master Policyholder or to the Member or the Member‟s beneficiary, the same shall constitute a valid discharge of Our liability under this Policy in respect of such Member.

  • 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.

  • We reserve the right to request for any additional information, documents and particulars, in such form and manner as We may prescribe, and the Gratuity Benefit and/or the Compulsory Sum Assured would be paid only after receipt of such additional information, documents and particulars by Us.

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 the 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 Penn Patent Rights obtained by a Third Party through the order, decree, or grant of a competent Governmental Body or court, authorizing such Third Party to develop, make, have made, use, sell, offer to sell or import a Licensed Product in any country.

  • 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.

  • 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.

  • 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.

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

  • 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 any voluntary conveyance of any part of the Project 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.

  • the Premises means the building or part of the building booked and referred to in the contract

  • Demised Premises or “Premises” (and whether or not capitalized) is used herein, it shall be understood to mean the “premises leased hereby”; and whenever the term “Entire Premises” is used herein (and whether or not capitalized), it shall be understood to mean all of the contiguous land and buildings owned by Landlord at this location, which include the premises leased hereby. The term “Non-leased Premises” shall mean the Entire Premises less the Leased Premises.

  • Forcible compulsion means physical force which overcomes resistance, or a threat, express or implied, that places a person in fear of death or physical injury to herself or himself or another person, or in fear that she or he or another person will be kidnapped. Wash. Rev. Code Ann. § 9A.44.010(6).

  • Indemnity Payment shall have the meaning set forth in Section 4.4(a).