Secondary Life definition

Secondary Life means Your spouse, in case You have opted for the Joint Life Cover Option as per Clause 1.7 of Part C of this Policy;
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Secondary Life is the second natural person, if any, used to determine the benefits provided under Article 4 and Article 8. If a Guaranteed Withdrawal Benefit is elected under the terms of Article 4, on the Benefit Election Date any Secondary Life must be an Annuitant's Spouse. The Secondary Life may not be changed.
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Secondary Life has the meaning set forth in the Riders.
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Examples of Secondary Life in a sentence

  • Paraeducators in Secondary Life Skills, Secondary Adaptive Life Skills, Elementary Life Skills and Elementary 27 Adaptive Life Skills classrooms shall receive an additional one dollar ($1.00) per hour stipend for all of the 28 hours assigned to the classrooms stated above.

  • Lincoln National has the right to ask for proof that the Annuitant and Secondary Life, if any, are alive when each Periodic Income Payment is due.

  • Upon approval, a lump-sum payment for the value of any suspended payments, as of the date the death claim is approved, will be made and the Periodic Income Payments will continue for as long as the Secondary Life continues to live.

  • Policy ownership will not be automatically transferred to the appointed Secondary Life Insured.

  • If an election is made to continue the Periodic Income Payments, a lump-sum payment for the value of any suspended payments, as of the date the death claim is approved, will be made and the Periodic Income Payments will then continue for the remainder of the Access Period and then, if there is a surviving Annuitant or, if applicable, Secondary Life, for the Lifetime Income Period.

  • The age and sex of the survivor will be substituted for the ages and sexes of the Annuitant and the Secondary Life in calculating subsequent revised annuity factors to determine Periodic Income Payments subsequent to the first death of either the Annuitant or Secondary Life.

  • Upon notification to Lincoln National of the death of the Annuitant or, if applicable, the Secondary Life, the Periodic Income Payments may be suspended until the death claim is approved as described in the Contract.

  • This period will then continue for as long as the Annuitant, or the case of a joint life payout the Annuitant or the Secondary Life, is living.

  • After the deaths of both the Annuitant and the Secondary Life the revised annuity factor is based only upon, as of the Valuation Date of the Periodic Income Payment, the Periodic Income Payment Mode; an Access Period (See:Death before the Lifetime Income Period); and the Assumed Interest Rate.

  • LIFETIME INCOME PERIOD -- The period that begins after the Access Period, provided the Annuitant, or in the case of a joint life payout the Annuitant or the Secondary Life, is still living and the Contract has not been surrendered.