Disability Income Benefit definition

Disability Income Benefit means the amount to be paid to each eligible Insured for loss of time from employment due to Total Disability.
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Disability Income Benefit means a benefit (other than the FIXED RISK BENEFIT) payable by an INSURER to a FIXED RISK MEMBER in terms of a policy of insurance issued by the INSURER to the EMPLOYER, which benefit shall be administered by the FUND on behalf of the FIXED RISK MEMBER. For the avoidance of doubt, it is specifically provided that this benefit will not be provided in terms of these RULES but in accordance with a separate EMPLOYER-owned policy of insurance;
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Disability Income Benefit means a benefit provided under a group life insurance contract or under a group accident or group sickness insurance contract whereby the insurer will make periodic income replacement payments to a member or other person insured under the contract in the event of his or her disability due to accident or sickness.
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Examples of Disability Income Benefit in a sentence

  • Payment will continue to be made to the earliest of the date on which the disability ceases to exist or death, or to the end of the Maximum Payment period described under Amount of Disability Income Benefit.

  • The SCLTDITF was created to fund and account for the employer costs of the State’s Basic Long-Term Disability Income Benefit Plan.

  • Benefits may also be available under the Short-Term Disability Income Benefit Plan and/or the Group Long-Term Disability Policy.

  • This payment may be made during the waiting period.If the life assured is still totally disabled or partially disabled at the end of the expected recovery period corresponding with the lump sum payment, then Sovereign will reopen the claim and pay either the Total Disability Income Benefit or a Partial Disability Income Benefit in accordance with this appendix.

  • Where an employee has been granted an approved leave of absence without pay in excess of thirty (30) calendar days, and the employee has been participating in the following benefit coverages: Flexible Benefits Plan 9.4 Disability Income Benefit 9.5 the employee must pay 100% of the premiums for those coverages during such leave, fully paid in advance or by monthly post-dated cheques before the leave commences.

  • In case of disability or death, it is recommended that a local church continue to pay the pastor=s salary for three months until the Life Insurance and Disability Income Benefit Plan becomes effective.

  • If a Plan Member loses Coverage during his/her disability, the Plan Member’s Long-Term Disability Income Benefit will continue until the end of the Benefit period described in Section 15.02.

  • If a Plan Member loses Coverage during their disability, the Plan Member’s Weekly Disability Income Benefit will continue until the end of the Benefit period described in Section 14.02 or until the Plan Member recovers, whichever occurs first.

  • Survivor Benefits payable upon the death of an Employee are payable according to the Long Term Disability Income Benefit Provision.

  • The Extra Cash Benefit is equivalent to 1/3rd (33.3%) of the Total Disability Income Benefit for each month.Where applicable and only in respect of the period for which the Extra Cash Benefit is payable, the Extra Cash Benefit will be included together with the Total Disability Income Benefit in the calculation of the lump sum payment Sovereign may choose to make in lieu of up to 3 monthly benefit payments, as set out in Section 1.This benefit is only payable once for a life assured.

Related to Disability Income Benefit

  • Disability Benefit means the benefit set forth in Article 8.

  • Disability retirement for plan 1 members, means the period

  • Disability allowance means monthly payments during

  • Disability Retirement Date means the first day of the month following the last day of paid employment;

  • Disability benefits means any cash payments which are payable to a covered individual for all or part of a period of disability pursuant to P.L.1948, c.110 (C.43:21-25 et al.).

  • Disability means total and permanent disability as defined in Section 22(e)(3) of the Code.

  • Supplemental Retirement Income Benefit means an annual amount (before taking into account federal and state income taxes), payable in monthly installments throughout the Payout Period. Such benefit is projected pursuant to the Agreement for the purpose of determining the Contributions to be made to the Retirement Income Trust Fund (or Phantom Contributions to be recorded in the Accrued Benefit Account). The annual Contributions and Phantom Contributions have been actuarially determined, using the assumptions set forth in Exhibit A, in order to fund for the projected Supplemental Retirement Income Benefit. The Supplemental Retirement Income Benefit for which Contributions (or Phantom Contributions) are being made (or recorded) is set forth in Exhibit A.

  • Disability benefit recipient means a member who is receiving a disability benefit.

  • disability living allowance means a disability living allowance under section 71 of the SSCBA;

  • Long-term disability insurance or "LTD insurance" means employ- er-paid long-term disability insurance and employee-paid long-term disability insurance offered by the PEBB program.

  • Termination Benefit means the benefit set forth in Article 7.

  • Disability/Disabled means because of Injury or Sickness you are unable to perform the material duties of your Regular Occupation, or are receiving disability benefits under the Employer's plan, during the initial 9 months of Disability. Thereafter, you must be unable to perform all of the material duties of any occupation which you may reasonably become qualified based on education, training or experience, or are subject to the terms of a Rehabilitation Plan approved by the Insurance Company.

  • Accidental disability means a physical or mental condition that

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Disability Termination means the termination of a Participant’s employment under the disability provisions of the Participant’s Employment Agreement or, if the Participant is not a party to an Employment Agreement, then as a result of a “Disability” as defined in the Plan.

  • Disability Date means the date on which a Participant is deemed disabled under the employee benefit plans of the Corporation applicable to the Participant.

  • war disablement pension means any retired pay or pension or allowance payable in respect of disablement under an instrument specified in section 639(2) of the Income Tax (Earnings and Pensions) Act 2003;

  • Lifetime Benefit Limit means the maximum amount of benefits paid by the Company to the Policy Holder cumulatively since the inception of these Terms and Benefits, irrespective whether any limits of any benefit items stated in the Benefit Schedule have been reached or whether the Annual Benefit Limit in a Policy Year has been reached.

  • Pregnancy disability means a pregnancy-related medical condition or miscarriage.

  • Normal Retirement Benefit means the benefit described in Section 2.1.

  • Disability Support Pension means the Commonwealth pension scheme to provide income security for persons with a disability as provided under the Social Security Act 1991, as amended from time to time, or any successor to that scheme.

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • 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.

  • Termination Benefits means the benefits described in Section 4.1(b).

  • Recurrent Disability means a Disability caused by an Injury or Sickness that is the same as, or related to, the cause of a prior Disability for which Monthly Benefits were payable. A Recurrent Disability will be treated as follows.

  • Social Security Retirement Age means the age used as the retirement age under Section 216(l) of the Social Security Act, applied without regard to the age increase factor and as if the early retirement age under Section 216(l)(2) of such Act were 62.

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