Reinsurance Benefit definition

Reinsurance Benefit means the amount calculated in accordance with Article 5 for which the Reinsurer is liable under Contract Forms reinsured hereunder.
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Examples of Reinsurance Benefit in a sentence

  • The maximum Reinsurance Benefit payable to the Ceding Company under each Covered Policy is the Reinsured Net Amount at Risk for each Benefit.

  • If the Contract Value equals or exceeds such present value, there is no Reinsurance Benefit.

  • For GMDB Types 1, 2, and 3, the Reinsurance Benefit payable by the Reinsurer to the Ceding Company on a contract covered by this Agreement shall be equal to the greater of the GMDB Claim or the EPB Claim, subject to the limits described in Sections 5.02 and 5.03, below.

  • For GMDB Type 4, 5, and 6, the Reinsurance Benefit payable by the Reinsurer to the Ceding Company on a contract covered by this Agreement shall be equal to the GMDB Claim, subject to the limits described in Sections 5.02 and 5.03 below.

  • For GMDB Type 1, the Reinsurance Benefit payable by the Reinsurer to the Ceding Companyon a contract covered by this Agreement shall be equal to the GMDB Claim, subject to the limits described in Sections 5.02 and 5.03 below.

  • If the Contract Value is less than such present value, the Reinsurance Benefit will be the Reinsurer's Quota Share Percentage of the excess of the present value, as determined in Paragraph a, over the Contract Value.

  • Notwithstanding Section 6.01, if the contract owner elects the Fixed Payout Option as provided for in the Rider or if the Ceding Company elects such Fixed Payout Option for contract owners age 90 or older, the Reinsurance Benefit will be determined as follows: a.

  • For GMDB Type 1, the Reinsurance Benefit payable by the Reinsurer to the Ceding Company on a contract covered by this Agreement shall be equal to the GMDB Claim, subject to the limits described in Sections 5.02 and 5.03 below.

  • The Catastrophic Reinsurance Benefit would be administered by the MHIP Board.

  • The Reinsurer will pay the Reinsurance Benefit on a Reinsured Policy under this Agreement whether or not the underlying Claim is contested, compromised, negotiated, or litigated by the Ceding Company, and Claim proofs provided by the Ceding Company in good faith consistent with past practices consistently applied than be accepted and binding on the Reinsurer.

Related to Reinsurance Benefit

  • 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.

  • Severance Benefit means the payment of severance compensation as provided in Article III.

  • Primary Social Security Benefit means, with respect to any member, the primary insurance amount

  • SERP Benefit means the benefit described in Section 5.1.

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

  • Social Security Benefit means an amount received by a claimant as a monthly benefit in accordance with the Social Security Act, 42 U.S.C. Sec. 401 et seq.

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

  • Social Security Benefits means any social insurance, pension insurance benefits, medical insurance benefits, work-related injury insurance benefits, maternity insurance benefits, unemployment insurance benefits and public housing reserve fund benefits or similar benefits, in each case as required by any applicable Law or contractual arrangements.

  • Pension Benefit means a pension, annuity, gratuity or similar allowance which is payable—

  • Accrued Benefit have the meanings specified in ERISA.

  • Relevant Benefits means any pension, annuity, lump sum, gratuity or other like benefit given or to be given on retirement or death, or in anticipation of retirement.

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

  • 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;

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

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

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

  • Severance Benefits means the payment of severance compensation as provided in Section 3.3 herein.

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

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

  • relevant benefit means any benefit specified in paragraph 21(2); and

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

  • Disability benefits means any cash payments which are payable to a covered individual for all or part of a period of disability pursuant to P.L.1948, c.110 (C.43:21-25 et al.).

  • Annual Benefit means an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).

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

  • 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.

  • Medicare benefit means the Medicare benefit payable within the meaning of Part II of the Health Insurance Act 1973 with respect to a professional service.