Payment of Premiums. Except as otherwise provided herein, on or before the due date of each Policy premium, or within the grace period provided therein, the Corporation shall pay the full amount of the premium to the Insurer, and shall, upon request, promptly furnish the Employee evidence of timely payment of such premium. The Corporation shall annually furnish the Employee a statement of the amount of income reportable by the Employee for federal and state income tax purposes as a result of the insurance protection provided the Owner as the beneficiary of the Policy.
Payment of Premiums. Any premium or portion thereof which is payable by the Employee under any Article of the Agreement may at the election of the Employee be deducted from the cash compensation otherwise payable to him and the Corporation agrees to transmit that premium or portion, along with any premium or portion thereof payable by it, to the Insurance Company on or before the premium due date.
Payment of Premiums. The County shall contribute the total semi-monthly premium for a County-offered dental plan at the corresponding level of coverage (i.e. Self, Self + 1 dependent, Family) provided that the employee is on paid status (excluding vacation purchase hours referenced in subsection 10.J. (Vacation Purchase Plan), which do not count as hours in paid status) at least fifty percent (50%) of the normal full-time biweekly pay period for the job classification. If an employee is not in paid status at least fifty percent (50%) of the normal full-time biweekly pay period for the job classification, the employee will be responsible for paying the entire semi-monthly dental premium payment for the benefit.
Examples of Payment of Premiums in a sentence
Employees who are regularly scheduled to work at least fifty percent (50%) of the normal full-time biweekly pay period for their classification, shall be entitled to elect coverage from the available options. The County and covered employees share the cost of medical premiums as provided in subsection 14.A.1. (Payment of Premiums) below.
More Definitions of Payment of Premiums
Payment of Premiums. The Company shall pay punctually all premiums payable for all insurance taken out and maintained by it.
Payment of Premiums. The first Premium is due on or before the Policy Date shown on the Policy Schedule. The Company will mail the Owner a billing notice 30 days in advance of the Premium due date. All Premiums after the first are to be made payable in advance to the Company at the Administrative Office and will be due on the Monthly Anniversary on which the cost of insurance exceeds the Policy Value Account less any outstanding Policy loans and accrued loan interest. Subject to limitations as provided in this Policy, Premiums paid after the first may be paid in any amount and at any time before the Insured attains the age of 121. Confirmation will be sent upon receipt of each Premium. Allocation of Premiums: Premiums (less expense charges) will be allocated among the available Sub-Account(s) or the Fixed Account selected by the Owner. To the extent a selected Sub-Account is not available, the Company will allocate that portion of the Premium payment to the Money Market Sub-Account until receipt of further allocation instructions from the Owner. The Owner will be bound by the investment experience of such Sub-Account(s) and the Fund(s) in which such Sub-Account invests. The Company is not responsible for any tax consequences, liability or effect which may result due to Premiums being invested in any Sub-Accounts during the right to cancel period. V17-J355X-NY 8-20
Payment of Premiums. Subject to the conditions set forth herein, for prepaid premiums the Company agrees to pay of the premium for each month the employee is on the payroll. Prepaid Premiums! To assist employees who are temporarily laid off to maintain their coverage for a full twelve months after their date of enrolment, the Company shall make the following contributions: If an employee i s laid off after four (4) months from his date of enrolment or subsequent years the employee is laid off after four
Payment of Premiums. The Company has paid all premiums due under the relevant policies and has respected its obligations of disclosure in respect of the said policies.
Payment of Premiums. On or before the date or dates on which each premium becomes due under the Policy, the Employer shall pay to the Insurer the entire premium for the Policy. Employer and Employee agree that Employee shall recognize taxable income equal to the "current term rate" (as defined below) for the portion of the insurance proceeds which the Employee or his designated beneficiaries would receive on the death of the Employee during the year in which such premium is due. The "current term rate" with respect to the Policy is an amount equal to the lesser of the Insurer's rate for a single life one year term life insurance policy available to all standard risks, or the rate determined under the principles of Revenue Rulings 64-328 and 66-110 (commonly known as the "P.S. 58 rates").
Payment of Premiums. The cost of the premiums for the insurance policies maintained by Lessor under this Paragraph 8 shall be a Common Area Operating Expense pursuant to Paragraph 4.2 hereof. Premiums for policy periods commencing prior to, or extending beyond, the term of this Lease shall be prorated to coincide with the corresponding Commencement Date or Expiration Date.