Living Benefits definition

Living Benefits as used in this agreement, refers to benefits paid under such riders. VALGB Rider Form # Description ------------------ ----------- GA-RA-1047 Minimum Guaranteed Income Benefit Rider GA-RA-1045 Minimum Guaranteed Accumulation Benefit Rider GA-RA-1048 Minimum Guaranteed Withdrawal Benefit Rider
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Living Benefits means the amount of life coverage that you may elect to place under this option. The living benefits is a one-time lump sum payment which is equal to 50% of your total amount of life coverage (shown in the Summary of Coverages) in effect on the date Canada Life receives proof that you are terminally sick, to a maximum of
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Living Benefits. [ ] I/We hereby elect the Lincoln SmartSecurity(SM) Advantage - 5-year Elective Step-up/3/. [ ] I/We hereby elect the Lincoln SmartSecurity(SM) Advantage - 1-year Automatic Step-up/3/.
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Examples of Living Benefits in a sentence

  • See Schedule A, below, for information on VAGLB and Living Benefits.

  • For the purposes of this adjustment, Living Benefits paid for annuities that are terminated during the Accounting Period are excluded.

  • Coverage under this Agreement for VAPOR Riders will only be provided to contractholders who previously purchased the Living Benefits Rider reinsured under this Agreement and elect the VAPOR Rider with Guaranteed Income Benefit.

  • Transamerica Center ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ Attention: General Counsel If to Transamerica: TRANSAMERICA OCCIDENTAL LIFE INSURANCE COMPANY Transamerica Center ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ Charlotte, North Carolina 28202 Attention: President, Living Benefits Division If to the Underwriter: Transamerica Securities Sales Corporation, Inc.

  • Unlike Premier Living Benefits Rider (PLBR), there is a monthly charge for this rider.

  • For the Living Benefits Rider, the Guaranteed Annual Income amount (“GAI”) and the GAI Annuity Payment Option (which does not include the Nursing Home GAI) is reinsured under this Agreement.

  • The Guaranteed Income Benefit provision is effective concurrently with the VAPOR Rider effective date and the irrevocable termination of the Guaranteed Minimum Withdrawal Benefit provision of the Living Benefits Rider.

  • There are no reinsurance premiums for the Accelerated Living Benefits Rider and its successor the Terminal Illness Rider (each individually and together known herein as the “ALBR/TIR”).

  • Only the Variable Annuity Living Benefit Rider (“Living Benefits Rider”) and the Variable Annuity Payment Option Rider (“VAPOR Rider”) (the Living Benefits Rider and VAPOR Rider are collectively referred to as “Riders”) and certain state variations thereof issued for use with certain variable annuity contracts (“Base Annuity(ies)”) as further described in Schedule A are reinsured under this Agreement.

  • Base Annuities or Riders converting to another annuity, rider or policy pursuant to a contractual right to convert, whether listed on Schedule A attached hereto or not, shall not be reinsured under this Agreement except when the contractholder transitions to the Guaranteed Income Benefit provision provided under the Living Benefits Rider.


More Definitions of Living Benefits

Living Benefits means the amount of Life Coverage that you may elect to place under this option. The Living is a lump sum payment which is equal to of your total amount of Coverage (shown in the Summary of Coverages) in effect on the date London Life receives proof that you are Terminally Sick, to a of However, the Living may be reduced if, within six months after the date London Life receives such proof, a reduction on account of age would have appliedto your amount of Life Coverage. In that case, the amount of Living Benefits will be of your amount of Life Coverage after applying the reduction, subject to the Living Benefits maximum.
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Living Benefits means any payment during the Insured Person’s life.
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Living Benefits means (i) the Cancer Benefit under provision B1; and (ii) Carcinoma-in-situ or Early
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Living Benefits means policy moneys which are paid out before the death of the insured.
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Living Benefits means the amount of life coverage that you may elect to place under this option. The benefits is a one-time lump sum payment which is equal to of your total amount of life coverage (shown in the Summary of Coverages) in effect on the date Great-West Life receives proof that you are terminally sick, to a maximum of However, the living benefits may be reduced if, within months after the date Great-West receivessuch proof, a reductionon account of age have applied to your amount of life coverage. In that case, the amount of living benefits will be of your amount of life coverage applyingthe reduction, subject to the living benefits maximum,
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