PAYMENT OF DEATH BENEFIT definition

PAYMENT OF DEATH BENEFIT. The Company will require due proof of death before any death benefit is paid. Due proof of death will be:
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PAYMENT OF DEATH BENEFIT. We will require due proof of death and any other documentation we request in Good Order before any death benefit is paid. All death benefits will be paid in accordance with applicable law or regulations governing death benefit payments.
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Examples of PAYMENT OF DEATH BENEFIT in a sentence

  • EFFECT OF PAYMENT OF DEATH BENEFIT If the last Covered Person dies while this Rider is in effect, this Rider terminates and no further benefits are paid under this Rider.

  • SECTION 6: DEATH BENEFIT PROVISIONS 6.01 PAYMENT OF DEATH BENEFIT Upon Due Proof of Death of the Annuitant, death benefits will become payable following the Company’s receipt of a Request.

  • In addition, the Owner may select an Annuity Payment Option that meets the requirements of Code Section 72(s) for payment of the Death Benefit to a Beneficiary as set forth in the PAYMENT OF DEATH BENEFIT AMOUNTS BEFORE THE ANNUITY COMMENCEMENT DATE provision.

  • EFFECT OF PAYMENT OF DEATH BENEFIT If the Contract's Death Benefit is paid while this Rider is in effect, and if the Beneficiary does not take the Death Benefit as a lump sum under the terms of the Contract, the following will determine whether this Rider continues or terminates: (a) If the deceased Owner (Annuitant if the Owner is not an individual) is the Covered Person, the Rider will terminate.

  • PAYMENT OF DEATH BENEFIT If the Death Benefit is to be paid in cash, payment will be made within seven days of the Death Benefit Date, except as the Company may be permitted to defer any such payment in accordance with the Investment Company Act of 1940.

  • If the Owner has not previously chosen an Annuity Payment as the distribution option for the payment of the Death Benefit to a Beneficiary, then at the time proceeds are payable to a Beneficiary, a Beneficiary may choose any Annuity Payment Option that meets the requirements of Code Section 72(s) for payment of the Death Benefit to a Beneficiary as set forth in the PAYMENT OF DEATH BENEFIT AMOUNTS BEFORE THE ANNUITY COMMENCEMENT DATE provision.

  • In addition, the Owner may select an Annuity Payment Option that meets the requirements of Code Section 72(s) (or Code Section 401(a)(9) for Qualified contracts) for payment of the Death Benefit to a Beneficiary as set forth in the PAYMENT OF DEATH BENEFIT AMOUNTS BEFORE THE ANNUITY COMMENCEMENT DATE provision.

  • If the Owner has not previously chosen an Annuity Payment as the distribution option for the payment of the Death Benefit to a Beneficiary, then at the time proceeds are payable to a Beneficiary, a Beneficiary may choose any Annuity Payment Option that meets the requirements of Code Section 72(s) (or Code Section 401(a)(9) for Qualified contracts) for payment of the Death Benefit to a Beneficiary as set forth in the PAYMENT OF DEATH BENEFIT AMOUNTS BEFORE THE ANNUITY COMMENCEMENT DATE provision.

  • PAYMENT OF DEATH BENEFIT If the Beneficiary elects a single sum payment of the death benefit, we will make payment within seven days after the Death Benefit Valuation Date.

  • PAYMENT OF DEATH BENEFIT We will require due proof of death before any death benefit is paid.

Related to PAYMENT OF DEATH BENEFIT

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

  • 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.

  • Termination Benefit means the benefit set forth in Article 7.

  • Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Retirement Benefit means the benefit set forth in Article 5.

  • Change in Control Benefit means the benefit set forth in Section 4.1 below.

  • SERP Benefit means the benefit described in Section 5.1.

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • Last Monthly Benefit means the gross Monthly Benefit payable to the Insured Employee immediately prior to death. Any reductions for Other Income Benefits, or for earnings the Insured Employee received for Partial Disability Employment, will not apply.

  • Accrued Benefit have the meanings specified in ERISA.

  • Disability Benefit means the benefit set forth in Article 8.

  • Normal Retirement Benefit means the benefit described in Section 2.1.

  • Public benefit means making capital available, or facilitating the availability of capital, to businesses in this state that have 750 or fewer employees, the intent of which is to create or retain employment opportunities for residents of this state, stabilize or increase the tax base of this state, or support the redevelopment of facilities for use by small businesses.

  • Lump Sum means the total sum which will have become payable to the Contractor by the Principal upon completion of the Works.

  • Regular benefits ’ means benefits payable to an individual under this act or under any other state law, including benefits payable to federal civilian employees and to ex-servicemen pursuant to 5 U.S.C. chapter 85, other than extended benefits.

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

  • Termination Benefits means the benefits described in Section 4.1(b).

  • Annuity Benefit means a benefit payable by us as described in Part VII.

  • Vested Benefits means amounts which are vested or which Executive is otherwise entitled to receive under the terms of or in accordance with any plan, policy, practice or program of, or any contract or agreement with, the Company or any of its subsidiaries, at or subsequent to the date of his termination without regard to the performance by Executive of further services or the resolution of a contingency.

  • Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;

  • Lump Sum Payment means, collectively, the lump-sum payments that may be payable to Executive pursuant to the first sentence of Subsection 6(b)(iii) and pursuant to Subsection 6(c)(ii)(B).

  • Early Retirement Benefit means the retirement benefit payable to a member following early

  • Actuarial equivalent means a benefit of equal value when

  • life annuity means “life annuity contract” as defined in Pension Legislation that conforms with the Act and Pension Legislation;