Examples of Coverage Term in a sentence
If the Convertible Supplemental Coverage Term Rider is present, the face amount attributable to that rider is added to the DB.
During the Term, the Company shall bear all costs and expenses of the Insurance Coverage for the Consultant and the Consultant's spouse but at all times thereafter during the Coverage Term, the Consultant shall bear the premium costs and shall be responsible for all co-payments, deductibles, and all other costs in the same manner and to the same extent as the active employees of the Company with respect to such Insurance Coverage.
These rates will not exceed those shown in the Table of Maximum Monthly Cost of Insurance Rates for the Supplemental Coverage Term Rider.
The Face Amount of the Policy, any Supplemental Coverage Term Rider and any Adjustable Benefit Term Rider will be decreased, if necessary, to equal the Death Benefit less the Cash Value on the effective date of the change.
The Company will therefore recognize the annual payments associated with the exclusive rights and maintenance over the Coverage Term using a time-based measure toward complete satisfaction of the performance obligation.