Income benefit definition

Income benefit means a payment made to an employee for a compensable injury. The term does not include a medical benefit, death benefit, or burial benefit.

Income benefit means all payments made under this Title to the providers of medical care, rehabilitation services and hospital care.

Income benefit means, in a policy that is not lapsed or paid-up [both as per Section 6a) & Section 6b) below], an additional benefit payable on the death of the Life Assured over a 10 year period (if the Variant chosen under the Policy is “Super”) equal to a monthly instalment as mentioned in the Schedule. That is, the monthly instalment is equal to Sum Assured divided by 120. The details are as given in Section 4a) below.

Examples of Income benefit in a sentence

• Such monthly Bridge Survivor Income Benefit shall be reduced by an amount equal to the full amount of any monthly benefit payable to a surviving spouse under any pension plan or retirement program then in effect to which the Company or any of its subsidiaries has contributed.

• Survivor Income Benefit Insurance shall be in force only while an employee is insured for Extra Accident Insurance under this Article and only while such employee has at least one eligible dependent.

• The employee shall pay 50¢ per month per $1000 of Basic Life Insurance for Basic Life, Extra Accident and Survivor Income Benefit Insurance, $5.00 per month for Sickness and Accident and Extended Disability Benefit coverages, and the full cost of Optional and Dependent Life Insurance and Personal Accident Insurance.

• The employee shall be entitled to have issued to such employee an individual policy of life insurance in accordance with the provisions set forth in Article IV, Section 6 provided the employee has at least one eligible dependent under any Class at the date of cessation of insurance, the employee’s Basic Life Insurance ceases, and the employee applies within 31 days after the date the employee’s Survivor Income Benefit Insurance ceases.

• There shall also be payable in accordance with the terms and conditions of this subsection to a Class A or Class B eligible survivor, both terms as defined in subsection (c) above, who has received 24 monthly payments of the Transition Survivor Income Benefit provided in subsections (a) and (b) above, an additional survivor income benefit (hereinafter referred to as a Bridge Survivor Income Benefit) of $700 per month.

More Definitions of Income benefit

Income benefit means an amount payable monthly during the Payout Period as specified in the Schedule;

Income benefit means an amount, as specified in the Schedule, payable during the Payout Period as per the frequency selected by You;

Income benefit means the benefit payable on the death or ATPD of the Life Assured (whichever is earlier) calculated in accordance with Section 5 a ii) below.

Income benefit means an amount, as specified in the Schedule, payable during the Income Benefit Period as per the Income Benefit Payout Frequency selected by You. No Income Benefit is available under the Wealth For Milestones Variant;

Income benefit means all payments made under this Title to the employee or his dependents.

Income benefit means a payment made to an employee for a compensable injury.

Income benefit means an amount, as specified in the Schedule, payable upon maturity of the Policy till the date of death of last surviving Insured Persons under this Policy, as per the frequency selected by You;