Covered Monthly Earnings means your basic monthly salary received from the Policyholder on the day just before the date of Total Disability, prior to any deductions to a 401(k) and Section 125 plan. Covered Monthly Earnings does not include commissions, overtime pay, bonuses, incentive pay or any other special compensation not received as Covered Monthly Earnings.
Covered Monthly Earnings means your basic monthly salary received from the Policyholder on the first of the Policy month just before the date of Total Disability. Covered Monthly Earnings does not include commissions, overtime pay, bonuses, incentive pay or any other special compensation not received as Covered Monthly Earnings.
Covered Monthly Earnings means your basic monthly salary received from the Policyholder on the first of the Policy month just before the date of Total Disability, prior to any deductions to a 403(b) or Section 125 plan. Covered Monthly Earnings does not include commissions, overtime pay, bonuses or any other special compensation not received as Covered Monthly Earnings.
Examples of Covered Monthly Earnings in a sentence
MONTHLY BENEFIT: The Monthly Benefit is an amount equal to 60% of Covered Monthly Earnings.
However, changes in the Monthly Benefit because of a change in Earnings are effective asexplained in the definition of Covered Monthly Earnings.
However, changes in the Monthly Benefit because of a change in Earnings are effective as explained in the definition of Covered Monthly Earnings.
However,changes in the Monthly Benefit because of a change in Earnings are effective as explained in the definition of Covered Monthly Earnings.
CORE: $15,000 (this is equal to a maximum Covered Monthly Earnings of $30,000).BUY-UP: $15,000 (this is equal to a maximum Covered Monthly Earnings of $25,000).
More Definitions of Covered Monthly Earnings
Covered Monthly Earnings means your basic monthly salary received from the Policyholder on the day just before the date of Total Disability. Covered Monthly Earnings does not include commissions, overtime pay, bonuses, incentive pay or any other special compensation not received as Covered Monthly Earnings.
Covered Monthly Earnings means the Insured's monthly salary received from you on the {day/first of the month} just before the date of Total Disability{, prior to any deductions to a {401(k), 403(b) and Section 125} plan}. Covered Monthly Earnings does not include {commissions, overtime pay, bonuses, incentive pay} or any other special compensation not received as Covered Monthly Earnings. However, {for a Salesperson, }"Covered Monthly Earnings" will include {commissions, overtime pay, bonuses, incentive pay} received from you averaged over the lesser of:
Covered Monthly Earnings means 1/12 of the amount of wages the Policyholder paid to you as reported on your W-2 form for the year just before the date Total Disability began. W-2 earnings includes base pay, commissions, bonuses, 401(k) deferrals, 403(b) deferrals and Section 125 deferrals received from the Policyholder but excludes overtime pay; group term life imputed income; allowances, such as, but not limited to, disturbance allowances, relocation allowances, leased car and car allowances; and other special forms of compensation. If the W-2 is for less than a full calendar year, W-2 earnings, as defined above, will be annualized and divided by 12.
Covered Monthly Earnings means the Insured's monthly salary received from you on the January 1st just before the date of Total Disability. Covered Monthly Earnings does not include commissions, overtime pay, bonuses, incentive pay or any other special compensation not received as Covered Monthly Earnings.
Covered Monthly Earnings means 1/12th of the Insured's annual salary received from you as of the first of the month just before the date of Total Disability. Covered Monthly Earnings do not include commissions, overtime pay, bonuses or any other special compensation not received as Covered Monthly Earnings.
Covered Monthly Earnings means monthly gross Total Assessable Compensation, as defined under The Church Pension Fund Clergy Pension Plan (Clergy Pension Plan), but excluding one-time payments such as overtime and bonuses and income received from sources other than the employer. Earnings will be based on the annualized monthly earnings just prior to the date of disability.
Covered Monthly Earnings means the amount of wages you paid to the Insured as reported on his/her W-2 form as "Medicare wages and tips" (box 5) averaged over the lesser of: