Life Only definition

Life Only. Periodic payments are made to the designated payee during the Annuitant's lifetime. Payments stop when the Annuitant dies.
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Examples of Life Only in a sentence

  • Net new business of $1.03 billion was recorded for the first quarter, representing a book-to-bill ratio of 0.93.

  • If your beneficiary dies before you, the monthly payments you receive after that will be increased to the amount that would have been payable as a Retiree Life Only Benefit.

  • Life Only pension – a monthly pension payable for life only with no minimum guaranteed period.

  • If a pensioner retires after January 1, 1992, he or she may elect an Optional Lump Sum Death Benefit equal to 12 times the monthly normal form pension (Life Only annuity).

  • This reduced amount is an “actuarial equivalent” of the Life Only Pension.

  • Life Only Installments will be paid for as long as the payee lives.

  • ANNUITIZATION Prior to the maximum annuity commencement date, the company will provide you with lifetime income payments that are no less than your rider withdrawal amount if a Life Only Payment Option (No Period Certain) is elected.

  • If your beneficiary dies before you, the monthly payments you receive after that will be increased to the amount that would have been payable as a Retiree Life Only Benefit.RETIREE LIFE – GUARANTEED TERM BENEFITS - A retirement benefit payable monthly as long as you live.

  • When the Depositary, in performing its duties and obligations, determines irregularities and/or unlawfulness resulting from the Company’s activities which present a violation of the Company's obligations under the Act, regulations based on the Act, Prospectus or Rules of the Fund, they shall warn the Company in writing without delay and request clarification of these circumstances.

  • Annuitization — If you annuitize the Contract at the maximum Annuity Date specified in the Contract and this Rider is still in effect at the time of your election and a Life Only annuity option is chosen, the annuity payments will be equal to the greater of: .

Related to Life Only

  • life cycle means all consecutive and/or interlinked stages, including research and development to be carried out, production, trading and its conditions, transport, use and maintenance, throughout the existence of the product or the works or the provision of the service, from raw material acquisition or generation of resources to disposal, clearance and end of service or utilisation;

  • 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 sciences means science for the examination or understanding of life or life processes, including, but not limited to, all of the following:

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

  • Continuation Coverage means coverage under a COBRA continuation provision or a similar state program. Coverage provided by a plan that is subject to a COBRA continuation provision or similar state program, but that does not satisfy all the requirements of that provision or program, will be deemed to be continuation coverage if it allows an individual to elect to continue coverage for a period of at least 18 months. Continuation coverage does not include coverage under a conversion policy required to be offered to an individual upon exhaustion of continuation coverage, nor does it include continuation coverage under the Federal Employees Health Benefits Program.

  • life policy means a contract in terms of which a person, in return for a premium, undertakes to -

  • Life-threatening means that the subject was at immediate risk of death from the AE as it occurred or it is suspected that use or continued use of the product would result in the subject’s death. ‘Life-threatening’ does not mean that had an AE occurred in a more severe form it might have caused death (eg, hepatitis that resolved without hepatic failure).

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

  • Dental means of or relating to the teeth and the work of a dentist.

  • dependants for the purpose of definition, dependants are spouse, dependent children and anyone for whom the employee claims exemption on federal income tax returns;

  • Copayment means that you pay a fixed amount each time you fill a prescription.

  • COBRA Continuation Coverage means the health care benefit continuation coverage mandated by the Consolidated Omnibus Budget Reconciliation Act and similar provisions of state law.

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

  • Retiree means any person who has begun accruing a retirement

  • life annuity means an annuity payable under a policy issued to an SRS member for a term ending with, or at a time ascertainable only by reference to, the end of his life;

  • Social Security Retirement Age means the age used as the retirement age under Section 216(l) of the Social Security Act, applied without regard to the age increase factor and as if the early retirement age under Section 216(l)(2) of such Act were 62.

  • DEPP means the Authority’s Decision Procedure and Penalties Manual;