Single Life Coverage definition

Single Life Coverage means life insurance coverage on the life of the Participant.
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Single Life Coverage means a life insurance or death benefit payable upon the death of the Participant.
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Examples of Single Life Coverage in a sentence

  • The reduction of the Participant's Policy death benefit to a level that is less than the initial Policy Coverage Amount, except that a conversion from Survivorship Coverage to Single Life Coverage shall not be considered a reduction in Policy death benefit for the purpose of this Section.

  • Subject to any proof of insurability required by the Insurer, a Participant (or other Policy Owner) can elect to convert Survivorship Coverage to Single Life Coverage, and with respect to a married Participant, the Participant (or other Policy Owner) can elect to convert Single Life Coverage to Survivorship Coverage.

  • An Employee who is unmarried at the time the Employee enrolls in the Plan shall be eligible for Single Life Coverage only.

  • If an Employee is married at the time the Employee enrolls in the Plan, the Employee can elect to participate in either Single Life Coverage or Survivorship Coverage.

  • Provided, however, that the Policy Owner may make a one-time election to exchange Survivorship Coverage for Single Life Coverage (equal to fifty percent (50%) of the Participant's Survivorship Coverage Amount), or to exchange Single Life Coverage for Survivorship Coverage (equal to two hundred percent (200%) of the Participant's Single Life Coverage Amount), subject to any proof of insurability required by the Insurer.

  • With respect to a Participant who has elected Single Life Coverage, upon the Participant's death prior to his/her Retirement, the Participant's Beneficiary shall receive life insurance proceeds in an amount equal to the amount of Single Life Coverage elected by the Participant.

  • Upon the death of a Participant who has elected Survivor Joint Life Coverage, if the Participant's surviving spouse has elected Option A pursuant to Section 3.7, such spouse shall reimburse the Bank for Participant Premiums in an amount equal to the "P.S. 58 alternative rates" for Single Life Coverage, as determined by the Carrier from time to time until such spouse attains age 65.

  • Prior to the Retirement of a Participant who has elected Single Life Coverage, the Bank shall pay to the Carrier each year the amount necessary to maintain in effect a life insurance policy on the life of the Participant in an amount not less than the amount sufficient to provide the insurance coverage elected by the Participant.

  • Upon a change in the marital status of a Participant, the Participant may, subject to Section 3.2, reallocate his/her total coverage then in effect (expressed as a percentage of Annual Compensation) between Single Life Coverage and Survivor Joint Life Coverage.

  • Upon a change in the marital status of a Participant, the Participant may, subject to Section 3.2, reallocate his/her total coverage then in effect 7 (expressed as a percentage of Annual Compensation) between Single Life Coverage and Survivor Joint Life Coverage.

Related to Single Life Coverage

  • Single Life Annuity means a Participant’s Grandfathered Benefit and/or 409A Benefit, as applicable, payable as an annuity in equal monthly installments over the life of the Participant, commencing as of the Payment Date and terminating in the month in which the Participant dies, with no further payments thereafter.

  • Creditable coverage means, with respect to an individual, coverage of the individual provided under any of the following:

  • Life insurance means insurance coverage on human lives including benefits of endowment and annuities, and may include benefits in the event of death or dismemberment by accident and benefits for disability income and unless otherwise specifically excluded, includes individually issued annuities.

  • Site Coverage means ratio expressed in percentage between the area covered by the ground floor of building and the area of the site;

  • Insurance Coverage Contractor shall, at Contractor’s sole expense, procure, maintain and keep in force for the duration of this Contract the following insurance conforming to the minimum requirements specified below. Unless specified herein or otherwise agreed to by the City, the required insurance shall be in effect prior to the commencement of work by Contractor and shall continue in force as appropriate until the latter of:

  • Life expectancy means life expectancy as computed by use of the Single Life Table in Section 1.401(a)(9)-9 of the Treasury regulations.

  • Insurance Amount has the meaning set forth in Section 6.11(c).

  • Life Insurance Policy has the meaning given in Section 6.10.

  • Continuation Coverage means coverage under a COBRA continuation provision or a similar state program. Coverage provided by a plan that is subject to a COBRA continuation provision or similar state program, but that does not satisfy all the requirements of that provision or program, will be deemed to be continuation coverage if it allows an individual to elect to continue coverage for a period of at least 18 months. Continuation coverage does not include coverage under a conversion policy required to be offered to an individual upon exhaustion of continuation coverage, nor does it include continuation coverage under the Federal Employees Health Benefits Program.

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

  • Fraud Loss Coverage Amount As of the Closing Date, $2,500,000, subject to reduction from time to time, by the amount of Fraud Losses allocated to the Certificates. In addition, on each anniversary of the Cut-off Date, the Fraud Loss Coverage Amount will be reduced as follows: (a) on the first, second, third and fourth anniversaries of the Cut-off Date, to an amount equal to the lesser of (i) 1.00% of the then current Stated Principal Balance of the Mortgage Loans in the case of the first and second anniversaries and 0.50% of the then-current Stated Principal Balance of the Mortgage Loans in the case of the third and fourth such anniversaries and (ii) the excess of the Fraud Loss Coverage Amount as of the preceding anniversary of the Cut-off Date over the cumulative amount of Fraud Losses allocated to the Certificates since such preceding anniversary; and (b) on the fifth anniversary of the Cut-off Date, to zero.

  • Life Insured means the person named in the Schedule, on whose life the Policy is effected;

  • life policy means a contract in terms of which a person, in return for a premium, undertakes to -

  • Credit life insurance means insurance on the life of a debtor in connection with

  • Coverage means the types of persons to be eligible as the beneficiaries of the Scheme to health services provided under the Scheme, subject to the terms, conditions and limitations.

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

  • Fraud Coverage During the period prior to the first anniversary of the Cut-Off Date, 2.00% of the aggregate principal balance of the Mortgage Loans as of the Cut-Off Date (the "Initial Fraud Coverage"), reduced by Fraud Losses allocated to the Certificates since the Cut-Off Date; during the period from the first anniversary of the Cut-Off Date to (but not including) the fifth anniversary of the Cut-Off Date, the amount of the Fraud Coverage on the most recent previous anniversary of the Cut-Off Date (calculated in accordance with the second sentence of this paragraph) reduced by Fraud Losses allocated to the Certificates since such anniversary; and during the period on and after the fifth anniversary of the Cut-Off Date, zero. On each anniversary of the Cut-Off Date, the Fraud Coverage shall be reduced to the lesser of (i) on the first, second, third and fourth anniversaries of the Cut-Off Date, 1.00% of the aggregate principal balance of the Mortgage Loans as of the Due Date in the preceding month and (ii) the excess of the Initial Fraud Coverage over cumulative Fraud Losses allocated to the Certificates since the Cut-Off Date. The Fraud Coverage may be reduced upon written confirmation from the Rating Agencies that such reduction will not adversely affect the then current ratings assigned to the Certificates by the Rating Agencies.

  • Special Hazard Loss Coverage Amount With respect to the first Distribution Date, $5,000,000. With respect to any Distribution Date after the first Distribution Date, the lesser of (a) the greatest of (i) 1% of the aggregate of the principal balances of the Mortgage Loans, (ii) twice the principal balance of the largest Mortgage Loan and (iii) the aggregate of the principal balances of all Mortgage Loans secured by Mortgaged Properties located in the single California postal zip code area having the highest aggregate principal balance of any such zip code area and (b) the Special Hazard Loss Coverage Amount as of the Closing Date less the amount, if any, of Special Hazard Losses allocated to the Certificates since the Closing Date. All principal balances for the purpose of this definition will be calculated as of the first day of the calendar month preceding the month of such Distribution Date after giving effect to Scheduled Payments on the Mortgage Loans then due, whether or not paid.

  • Health care coverage means any plan providing hospital, medical or surgical care coverage for