Life Benefit definition

Life Benefit means the same as Death Benefit given in Section 1)p. Above
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Life Benefit means, on the date of death, Critical Illness, or Dismemberment, the lesser of the following amounts, subject to reduction as provided in this definition:
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Life Benefit means, on the date of Accidental Death or death, the lesser of the following amounts:
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Examples of Life Benefit in a sentence

  • The Insured became Totally Disabled while covered for the Life Benefit of the Policy.

  • The Policy does not provide a Waiver of Premium, Extended Death Benefit Provision or monthly payments to Totally Disabled Insureds for the Life Benefit.

  • The Insured remained Totally Disabled until the Policy ended while covered for the Life Benefit of this Policy.

  • The amount of Accelerated Life Benefit available will then be based on the amount remaining after payment of any portion of the Life Amount.

  • The amount of Accelerated Life Benefit available is shown in the Schedule of Benefits, unless any portion of Your Life Amount has already been paid.

  • The interest charge equals the Accelerated Life Benefit amount, times the number of days from the date of payment to Your date of death divided by 365, times the interest rate.

  • ACCELERATED LIFE BENEFIT If You are Permanently and Totally Disabled and are diagnosed with a Terminal Condition and are eligible for benefits under this Section, You may apply for payment of the Accelerated Life Benefit.

  • The interest rate will be based on the current 90-day Treasury bill rate existing on the date of payment of the Accelerated Life Benefit.

  • The amount of Dependent Spouse Accelerated Life Benefit available is shown in the Schedule of Benefits, unless any portion of the Dependent Spouse's Life Amount has already been paid.

  • Eligibility for Public Assistance: Receipt of an Accelerated Life Benefit may affect the Employee’s, their Dependent spouse’s, or their family’s eligibility for public assistance programs such as medical assistance (Medicaid), Aid to Families with Dependent Children (AFDC), supplementary social security income (SSI), and drug assistance programs.


More Definitions of Life Benefit

Life Benefit means the amount specified as the Life Benefit on your Certificate of Insurance. Other income includes any disability benefit you are entitled to receive from the state or another insurance company, any salary or other payments from your employer or business, or any pension you receive. Period of cover is stated on your Certificate of Insurance and cover will remain in force during this period subject to the terms and conditions of this agreement, and provided we receive your premium(s) on or before their due date (s). Pre-existing condition means any disease, illness or injury for which you have received medication, advice or treatment, or you have experienced symptoms, whether the condition has been diagnosed or not, at or prior to your date of entry to the plan. Customer Services T + 44 1276 486455 xxx.xxxxxxx-xxxxxxx.com 13 Premium means the amount(s) you are required to pay us either annually, semi annually, quarterly or monthly for this insurance cover. Premium due date, or due date means the date on which your premium falls due for payment. Rehabilitation benefit means a reduced benefit which may be paid if you are able to return to your own occupation, during the first 24 months of claiming, on a part time or reduced basis.
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Related to Life Benefit

  • 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.

  • Net Benefit means the present value of the Covered Payments net of all federal, state, local, foreign income, employment and excise taxes.

  • Actuarial equivalent means a benefit of equal value when

  • superannuation benefit means any payment, other than a refund of contributions, made to a dentist by virtue of the application of the (a) National Health Service Pension Scheme Regulations 1995; or (b) the National Health Service Superannuation Scheme (Scotland) Regulations 1995 or (c) the corresponding provisions of the law in force in Northern Ireland; as a result of his providing general dental services;

  • 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.

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • Retirement allowance means the retirement payments to which a member is entitled.