Insured Benefit definition

Insured Benefit means benefit payable in accordance with Part C of this Group Policy on occurrence of Insured Event which is as per the Loan Schedule given in the Certificate of Insurance.

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Insured Benefit means the proceeds payable under a Policy of Insurance covering a Member or group of Members.

Insured Benefit means in relation to an Eligible Member, subject to rule 16.2, the amount of any insurance we hold for a Member and is paid to us by the insurer in the event of the death or Total and Permanent Disablement (as applicable) of the Member.

Examples of Insured Benefit in a sentence

Contractor will evaluate and negotiate annual renewals for the Insured Benefit Plans and coordinate carrier information necessary for Board approval.
The Owner has the unilateral right to add the Change of Insured Benefit if: • this Policy has been in force for at least six months; • the Insured is alive; • this Policy would continue to qualify as Life Insurance under Section 7702 of the Internal Revenue Code; and • this Policy is not in force under the Paid-up Option.
For insured benefit programs the section of the Accounting Manual entitled "Special Regulations for Non-University Insured Benefit Program" applies.
A copy of the Group Master Policy or Policies of the Insured Benefit Plan shall be given to the Bargaining Unit.
The Company will not provide any Insured Benefit if the relevant insurer does not accept its liability to make the relevant payment under the terms of the relevant policy.

More Definitions of Insured Benefit

Insured Benefit means the proceeds of any Benefit arranged in respect of a Participant or Member at the request of the Participant or Member by the Trustee pursuant to Clause 11.10.1(a).

Insured Benefit means a death, disability or funeral benefit or any other contingent benefit which does not form part of the retirement benefit, for which the retirement fund holds an insurance policy;

Insured Benefit means the proceeds of any insurance policy effected by the Trustee on the life of a Member or ADF Member or against the Temporary Disablement or Permanent Disablement of a Member or ADF Member and any transfers to the Member's or ADF Member's Individual Account after the date of the Member's or ADF Member's death, Permanent Disablement or Temporary Disablement from the Mortality Fluctuation Reserve in accordance with Clause 4.8(b) or Clause 9.22, as the case may be. The amount of the Insured Benefit will be determined by the Plan Specifications applicable to the Member or ADF Member, and where a Member or ADF Member is not acceptable at standard rates by the Trustee or any Insurer the Trustee may reduce the Insured Benefit by such amount as the Trustee considers appropriate.

Insured Benefit in respect of a Member means the amount (if any) in addition to the Member's Account (if payable) which is payable on the death, Total and Permanent Disablement or sickness or illness of the Member and arising from any Policy effected by the Trustee.

Insured Benefit means the proceeds of any policy of insurance taken out by the Trustee on the life of a Member or for Terminal Illness, Total and Permanent Disablement or for Total and Temporary Disablement of a Member whether a group policy or individual policy;

Insured Benefit of a Spouse Member means the amount of any insurance proceeds which is:

Insured Benefit means in relation to an Eligible Member, subject to rule 16.2, the amount of any insurance we hold for a Member and is paid to us by the insurer in