Premium benefit definition

Premium benefit means an employment benefit, such as seniority, group life insurance, health insurance, disability insurance, sick leave, annual leave, or an educational or pension benefit that is greater than the employment benefit due the employee for an equivalent period of work performed during the regular work schedule of the employee.
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Premium benefit means the amount the ASRS provides on behalf of a retired member or Disabled member in order to offset the Coverage premium of the retired or Disabled member pursuant to A.R.S. § 38-783.
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Premium benefit means if any benefit, such as paid time off or compensatory time, due to an employee for an equivalent period of work performed during the regular work schedule of the employee.
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Examples of Premium benefit in a sentence

  • The reinsurance premium for the Waiver of Premium benefit shall be the proportionate share of the ceding company’s disability premium less the following percentages of premium discount: 75% in the first year and 10% in renewal years.

  • The reinsurance premium for the Waiver of Premium benefit shall be the proportionate share of the ceding company's disability premium less the following percentages of premium discount: 75% in the first year and 10% in renewal years.

  • For an approved Waiver of Premium benefit claim, the Reinsurer shall pay its share of the gross premium waived by the Company, and the Company shall continue to pay the total reinsurance premium, excluding the corresponding waiver premium.

  • If during this 30 day period You do not register for the Premium Plan, then You will not be eligible for the SC+ Premium benefit.

  • If You do not register for the Premium Plan at the time of purchase of the Plan Device, You will still enjoy a 30 day registration period in which You may register Your Plan Device for the SC+ Premium benefit.

  • If a claim is approved for Waiver of Premium benefit on a reinsured policy, the Company shall continue to pay the premiums for reinsurance except the premium for Disability reinsurance.

  • For approved Waiver of Premium benefit claims, [name of reinsurance company] will pay the CEDING COMPANY its portion of the amount of gross premiums waived by the CEDING COMPANY.

  • If the same disability recurs more than months after cessation of your Waiver of Premium benefit, such disability will be considered a separate disability.

  • The Disability Waiver of Premium benefit amount reinsured shall not be greater than the amount of the corresponding Life Insurance benefit reinsured.

  • To submit a claim for the Waiver of Premium benefit you must complete a Waiver of Premium claim form which is available from your Plan Administrator.