Salary protection insurance definition

Salary protection insurance means insurance against financial loss caused by the cessation of earned income because of disability from sickness, ailment, or bodily injury.
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Salary protection insurance means insurance against financial loss caused by the cessation of earned income due to disability from sickness, ailment or bodily injury, in an amount up to: (A) that portion of an individual’s annual earned income which is in excess of the amount of in force disability insurance as defined in paragraph three of this subsection in an amount not to exceed seventy-five percent of the individual’s annual earned income in total based upon the sum of the in force disability insurance and salary protection insurance when the benefits are payable to the individual or the individual’s beneficiary; or (B) where such underlying disability insurance cannot be obtained by an individual from an authorized insurer, in an amount not to exceed seventy-five percent of the individual’s annual earned income when the benefits are payable to the individual or the individual’s beneficiary. Any insurer licensed to write disability insurance as defined in paragraph three of this subsection may also write salary protection insurance as defined in this paragraph.
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Examples of Salary protection insurance in a sentence

  • Salary protection insurance Items 2 and 3 shall be restricted from changing participating status during the plan year unless there was a change in status or other qualifying event as recognized by IRS.

  • Salary protection insurance, which qualifies as accident and health insurance under I.R.C. Section 105.

Related to Salary protection insurance

  • ' Compensation Insurance With respect to all operations performed, the Party shall carry workers’ compensation insurance in accordance with the laws of the State of Vermont. Vermont will accept an out-of-state employer's workers’ compensation coverage while operating in Vermont provided that the insurance carrier is licensed to write insurance in Vermont and an amendatory endorsement is added to the policy adding Vermont for coverage purposes. Otherwise, the party shall secure a Vermont workers’ compensation policy, if necessary to comply with Vermont law.

  • Guaranteed automobile protection insurance means insurance offered in

  • group insurance means insurance, other than creditor’s group insurance and family insurance, whereby the lives of a number of persons are insured severally under a single contract between an insurer and an employer or other person; (“assurance collective”)

  • FHA Insurance The contractual obligation of FHA respecting the insurance of an FHA Loan pursuant to the National Housing Act, as amended.

  • Travel Insurance means coverage for personal risks incidental to planned travel, including one or more of the following:

  • Fidelity Insurance means insurance coverage with respect to employee errors, omissions, dishonesty, forgery, theft, disappearance and destruction, robbery and safe burglary, property (other than money and securities) and computer fraud in an aggregate amount acceptable to Seller’s regulators.

  • Insurance means comprehensive insurance of the vehicle(s)/equipment and shall include insurance of the crew.

  • Crew Insurances means insurances against crew risks which shall include but not be limited to death, sickness, repatriation, injury, shipwreck unemployment indemnity and loss of personal effects.

  • Individual health insurance coverage means health insurance coverage offered to individuals in the

  • Liability Insurance means compulsory professional liability errors and omissions insurance required by a governing body;

  • Period of Insurance means the period commencing from the retroactive date and terminating on the expiry date as shown in the Policy Schedule.

  • Type of insurance means coverage afforded under the particular policy that is being placed.

  • Other Insurance means insurance available to any covered person that covers a loss to which this policy applies, other than either primary insurance or insurance specifically purchased by you to be excess of the insurance afforded by this policy.

  • General Liability Insurance Subcontractor shall carry minimum primary General Liability Insurance for the following amounts:

  • Policy means Related Party Transaction Policy.

  • Sum Insured means the sum as specified in the Schedule to this Policy against the name of Insured / each Insured Person, which sum represents the Company's maximum liability for any or all claims under this Policy during the Policy period for the respective benefit(s) against which the sum is mentioned in the Schedule to this Policy.

  • Personal lines insurance means property and casualty insurance coverage sold for primarily noncommercial purposes to:

  • Health insurance coverage means benefits consisting of medical care (provided directly, through

  • Primary insurance means the policies listed in this policy’s Umbrella Schedule.

  • Lot coverage means the portion or percentage of the area of a lot upon which buildings are erected.

  • Health insurance means protection which provides payment of benefits for covered sickness or injury.

  • Group health insurance coverage means in connection with a group health plan, health insurance

  • Property Insurance is defined in Section 6.10(a).

  • Basic Comprehensive User Guide means the Ministry document titled Basic Comprehensive Certificates of Approval (Air) User Guide” dated April 2004 as amended.

  • Mortgage guaranty insurance means surety insurance under which a mortgagee or other creditor is indemnified against losses caused by the default of a debtor.

  • Medical malpractice insurance means insurance against legal liability incident to the practice and provision of a medical service other than the practice and provision of a dental service.