Group contractholder definition

Group contractholder means the person to which a group contract has been issued.
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Group contractholder means the person to whom a group contract has been issued.
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Group contractholder. The entity with ownership rights under the Group Contract as shown on the Contract Data Page. Guaranteed Annual Withdrawal (XXX) – The annualized withdrawal amount that is guaranteed for the lifetime of the Covered Person(s), subject to the terms of this Certificate. Guaranteed Annual Withdrawal Percentage (XXX%) – The percentage of the Benefit Base that determines the amount of the XXX. This percentage is based on the age of the Covered Person(s) at the time of the first Installment determined by calculating the 10 Year Treasury Yield multiplied by the Age Adjustment, subject to the maximum and minimum percentages described in Section 5.01. If there are two Covered Persons the percentage is based on the age of the younger Covered Person and the Joint Withdrawal Adjustment, pursuant to Section 5.01. Guarantee Benefit Fee – The fee described in Section 8. Guaranteed Lifetime Withdrawal Benefit (GLWB) – A payment option offered by Certificate that pays Installments during the life of the Covered Person(s). The Covered Person(s) will receive periodic payments in either monthly, quarterly, semiannual, or annual Installments that in total over a twelve month period equal the XXX. Initial Calculation – The calculation used to determine the XXX% on the Initial Installment Date pursuant to Section 5.01. Initial Installment Date – The date of the first Installment under the GLWB, which must be a Business Day. Installments – Periodic payments of the XXX made pursuant to Section 5.03. Installment Frequency Options – The options listed in Section 5.03.
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Related to Group contractholder

  • Group contract means a contract for health care services which by its terms limits eligibility to members of a specified group. The group contract may include coverage for dependents.

  • Group Company means any one of them;

  • Sub-Contractor means the person named in the Contract for any part of the works or any person to whom any part of the contract has been sublet by the contractor with the consent in writing of the Engineer-in-charge and will include the legal representatives, successors and permitted assigns of such persons.

  • Acquired Company means any business, corporation or other entity acquired by the Company or any Subsidiary.

  • Material Group Company means the Issuer or a Subsidiary representing more than 5.00 per cent. of either (i) the total assets of the Group on a consolidated basis (for the avoidance of doubt, excluding any intra-group transactions) or (ii) the net profit of the Group on a consolidated basis according to the latest Financial Report.

  • sub-contract means the primary contractor’s assigning, leasing, making out work to, or employing, another person to support such primary contractor in the execution of part of a project in terms of the contract;

  • Individual contract plan means a subcontracting plan that covers the entire contract period (including option periods), applies to a specific contract, and has goals that are based on the offeror’s planned subcontracting in support of the specific contract except that indirect costs incurred for common or joint purposes may be allocated on a prorated basis to the contract.