Minimum death benefit definition

Minimum death benefit means the amount of the guaranteed death benefit, other than incidental insurance benefits, payable under a variable life insurance policy regardless of the investment performance of the separate account.
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Minimum death benefit means 105% (Hundred and Five percent) of the total Single Premium/Regular Premium received until the Life Insured's death;
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Minimum death benefit means 105% (Hundred and Five percent) of the total Regular Premiums received until Life Insured's death;
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Examples of Minimum death benefit in a sentence

  • In case of the Life Assured’s unfortunate demise, we will pay the highest of the following to the nominee.• Sum Assured (less all withdrawals made during the two year period immediately preceding the death of Life Assured)• Unit Fund Value.• Minimum death benefit of 105% of the total premiums paid.The policy will terminate thereafter and no more benefit will be payable.

  • BENEFIT TYPESSUMMARY Death BenefitWe will pay the highest of the following Sum Assured (less withdrawals@)  Unit Fund Value  Minimum death benefit The policy will terminate and no more benefits will be payable.

  • On or after attainment of age 60 yearsWe will pay the highest of the following Sum Assured (less all withdrawals made after attainment of age 58) The total fund value. Minimum death benefit of 105% of the premiums paid.

  • Substitutions may only occur in between Games in a Match, and Teams are limited to one Substitution per Match.

  • On or after attainment of age 60 yearsWe will pay the greater of the following• Sum Assured (less all withdrawals made after attainment of age 58)• The total fund value.The policy will terminate thereafter and no more benefit will be payable.The Minimum death benefit will be at least 105% of the annual premiums paid.


More Definitions of Minimum death benefit

Minimum death benefit means an amount calculated in accordance with 6.7 which is payable after the later of (a) the date of death of the survivor of the Participant and his Spouse, or (b) the date upon which a Survivor Pension is no longer payable under the Plan to or for the benefit of the Participant's Dependent Child(ren).
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Minimum death benefit means $925,000.
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Minimum death benefit. The Minimum Death Benefit is equal to the sum of I and II below: I. The Accumulation Value allocated to Excluded Funds; and II.
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Minimum death benefit is the minimum amount payable upon the death of a Participant prior to age 70 and before any annuity income option has commenced.
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Minimum death benefit means the amount determined for an eligible Member as of December 31, 2002 as the "Minimum Death Benefit" in accordance with the Pre-revision Plan;
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Minimum death benefit means 105% (Hundred and Five percent) of the total Regular Premium received until the Life Insured‟s death.
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Minimum death benefit means the lump sum amount payable to the beneficiary of a Participant who was covered by the Prior Plan immediately prior to the Effective Date, who has remained in continuous employment with the Employer since the Effective Date, and who dies while an Employee subsequent to the Effective Date.
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