Death Benefit definition

Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

Death Benefit means the benefit set forth in Article 9.

Death Benefit means the benefit which becomes payable on the Life Assured’s death in accordance with Part C of this Policy.

Examples of Death Benefit in a sentence

• This benefit provides that the spouse or domestic partner of a deceased member, who was eligible to retire for service at the time of death, may elect to receive the Pre- Retirement Option 2W Death Benefit which is the highest monthly allowance a member can leave a spouse or domestic partner in lieu of the lump sum Basic Death Benefit.

• Subject to the terms and conditions of the Master Plan, the Employer hereby elects the following in-service death benefit, to be payable in the event that an eligible Participant's employment with the Employer is terminated by reason of the Participant's death prior to Retirement: (i) Auto A Death Benefit.

• For employees in Safety Pension Group A, the 3% at 50 benefit plan includes the following options: • Post Retirement Survivor Allowance • 2W Death Benefit • 1959 Survivor Benefit Termed "Indexed Level" • "Military Service Credit"Option Employees in Safety Pension Group A shall pay the full nine percent (9.0%) employee contribution.

• The payment of the Death Benefit will not be made for death due to suicide while sane or insane within twelve (12) months from the Date of Issue or the date of reinstatement (if applicable) of the Policy and the Policy will be rendered void.

More Definitions of Death Benefit

Death Benefit means the amount payable to the claimant on death of the Life Assured during the Policy term, as agreed at inception of the Policy contract, provided the Policy has not lapsed or terminated

Death Benefit means the insurance amount payable under the Certificate at death of the Insured. It does not include any amount that is only payable in the event of Accidental Death.

Death Benefit means the benefit payable on the death of the Life Assured. Please refer to Section 4) below for more details.

Death Benefit means the benefit, which is payable on death, as specified in Condition 1.A of Part C of this Policy Document.

Death Benefit shown in the Schedule is initially set equal to the Account Value as of the Business Day we receive proof of death. The entire interest in this Contract must be distributed to the new Beneficiary in accordance with the provisions of 3.a. or 3.b. above. If there is more than one Beneficiary, the foregoing provisions will independently apply to each Beneficiary.

Death Benefit means the benefit described in Article 3.

Death Benefit means an amount which will be highest of the following: