Group term life insurance definition

Group term life insurance means any Member Basic Group Term Life Insurance for which you are insured under this plan. "Group term life insurance" does not mean any accidental death and dismemberment benefits, any insurance provided under this plan for covered persons other than you or any scheduled increase in the amount of any Member Group Term Life Insurance that is due within the six month period after the date you apply for the Accelerated Life Benefit.
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Group term life insurance. The District shall provide district paid group life insurance coverage in the amount of $25,000 for each school year for each teacher.
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Group term life insurance means any Employee Basic Group Term Life Insurance for which an employee is insured under this plan. "Group term life insurance" does not mean any accidental death and dismemberment benefits, any insurance provided under this plan for covered persons other than the employee or any scheduled increase in the amount of any Employee Group Term Life Insurance that is due within the six month period after the date the employee applies for the Accelerated Life Benefit.
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Examples of Group term life insurance in a sentence

  • The City shall offer a voluntary Group Term Life Insurance option to eligible employees.

  • The Board shall provide, without cost to each employee, Group Term Life Insurance equal to one and one-quarter (1 1/4) times the employee's annual salary, rounded to the next higher multiple of one thousand dollars ($1,000), subject to a minimum of seven thousand dollars ($7,000) and a maximum of fifty thousand dollars ($50,000).

  • In the case of an employee who is on active claim arising from a disability which occurred before a negotiated change in benefits and which continues thereafter, the said employee shall, as from the effective date of the negotiated change, be paid the changed weekly indemnity benefit, be covered for the changed Group Term Life Insurance and Accidental Death and Dismemberment Insurance, and make the changed contributions.

  • The employee shall have the option of purchasing at their own expense through payroll deduction, an additional amount of "Group Term" Life Insurance ranging from one and one-quarter (1¼) times the employee’s annual salary, up to five (5) times the employee’s annual salary or one million dollars ($1,000,000), whichever is less (medical underwriting may apply above the guarantee issue amounts) in accordance and subject to the provisions of the group life insurance policy equal to that provided by the Board.

  • The Welfare Plan will include Group Term Life Insurance in accordance with the following Table of Hourly Job Rate Brackets and corresponding coverages.

  • In addition to the above Group Term Life Insurance coverage the Welfare Plan will include Accidental Death Insurance as outlined in the Table on a twenty-four (24) hour coverage basis.

  • In the case of an employee who is on active claim arising from a disability which occurred before a negotiated change in benefits and which continues thereafter, the said employee shall, as from the effective date of the negotiated change, be paid the changed Weekly Indemnity benefit, be covered for the changed Group Term Life Insurance and Accidental Death and Dismemberment Insurance, and make the changed contributions.

  • Each employee shall have the option, at the employee's expense, through a direct pay method, to convert the Group Term Life Insurance to an individual life insurance policy upon retirement or termination of employment, in accordance and subject to the provisions of the group life insurance policy.

  • Premium rebates received by the City from the voluntary Group Term Life Insurance option shall be administered as provided for below.

  • The Welfare Plan will include Group Term Life Insurance in accordance with the following Table of Hourly Job Rate Brackets and corresponding coverage’s.


More Definitions of Group term life insurance

Group term life insurance means the coverage, as specified in the Policy Schedule, provided for a Members’ Nominee (s) in the event of his death before his Normal Retirement Date.
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Group term life insurance. Beneficial Life Insurance Company.
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Group term life insurance. The district will provide a $40,000 term life insurance policy to all eligible employees who apply for coverage. This policy amount will increase to $50,000- beginning July l , 2019. Eligible employees must work 30 hours or more per week. Supplemental term life insurance policies are also available to eligible employees through payroll deduction.
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Related to Group term life insurance

  • Life insurance means insurance coverage on human lives including benefits of endowment and annuities, and may include benefits in the event of death or dismemberment by accident and benefits for disability income and unless otherwise specifically excluded, includes individually issued annuities.

  • life insurance business means the business of providing or undertaking to provide policy benefits under life policies;

  • Group long-term care insurance means a long-term care insurance policy which is delivered or issued for delivery in this State and issued to:

  • long-term insurance business means the business of providing or undertaking to provide policy benefits under long-term policies, but does not include -

  • Life Insurance Policy has the meaning given in Section 6.10.

  • Long-term care insurance means group insurance that is authorized by the retirement system for retirants, retirement allowance beneficiaries, and health insurance dependents, as that term is defined in section 91, to cover the costs of services provided to retirants, retirement allowance beneficiaries, and health insurance dependents, from nursing homes, assisted living facilities, home health care providers, adult day care providers, and other similar service providers.

  • group insurance means insurance, other than creditor’s group insurance and family insurance, whereby the lives of a number of persons are insured severally under a single contract between an insurer and an employer or other person; (“assurance collective”)

  • Life insurance producer means any person licensed in this state as a resident or nonresident insurance producer who has received qualification or authority for life insurance coverage or a life line of coverage pursuant to chapter 522B.

  • Additional gap medical benefits means the benefits (if any) payable in respect of medical expenses that are more than the schedule fee and which otherwise meet the requirements of the fund’s no or known gap policy, provided always that the medical expenses relate to a professional service that:

  • Sponsored captive insurance company means a captive insurance company:

  • Life Insured means the person named in the Schedule, on whose life the Policy is effected;

  • Credit life insurance means insurance on the life of a debtor in connection with

  • Long-term care means the system through which the Department provides a broad range of social and health services to eligible adults who are aged, blind, or have disabilities for extended periods of time. This includes nursing homes and state hospitals (Eastern Oregon and Oregon State Hospitals).

  • Insurance premium finance company means a person engaged in the business of

  • insurance period means a contribution period or an equivalent period;

  • Medical flexible spending arrangement means a benefit plan

  • Group health insurance coverage means in connection with a group health plan, health insurance

  • Individual health insurance coverage means health insurance coverage offered to individuals in the

  • Gap medical benefits means the benefits (if any) payable in respect of medical expenses that are less than, greater than or equal to the schedule fee, provided always that the medical expenses relate to a professional service that:

  • income-related employment and support allowance means an income-related allowance under Part 1 of the Welfare Reform Act 2007;

  • Insurance holding company system means a group of two or more affiliated persons, at least one of whom is an insurer.

  • Long-term inpatient care means inpatient services for

  • Captive insurance company means a pure captive insurance company, association captive insurance company, captive reinsurance company, sponsored captive insurance company, special purpose captive insurance company, or industrial insured captive insurance company formed or licensed under this chapter. For purposes of this chapter, a branch captive insurance company must be a pure captive insurance company with respect to operations in this State, unless otherwise permitted by the director.

  • Insurance Amount has the meaning set forth in Section 6.08(c).

  • Long-Term Disability means the Grantee is receiving long-term disability benefits under the Employer’s long-term disability plan.

  • Insurance group means the persons that comprise an insurance holding company system.