Sentences with phrase «death or disability of»

(D) In the event of the death or disability of the President and the inability or incapacity of the President - Elect to succeed to such office pursuant to this section, the office of President shall be filled until the next National Convention by a person appointed by the Executive Committee.

This benefit offers fixed amount or some pre-defined percentage of the sum insured, whichever is lower as the education benefit for the kids due to accidental death or disability of the life insured during the policy term.

Max Life Payor Rider provides policy continuance benefit in case of death or disability of the payor.

As the name suggests the future premiums are waived off in the events like death or disability of the insured or policyholder as per the policy contract.

The company should have a binding buy - sell agreement which would state that upon the death or disability of a shareholder the stock owned by the deceased would be sold to the surviving members at a prearranged price.

It is important that limited liability companies plan for the possibility of the sudden death or disability of a shareholder or member.

Sum assured is paid on death and on death or disability of the policyholder, all the future premiums are funded by the company.

However, you would not need to pay any compensation in case of the death or disability of the employee due to the influence of alcohol, drugs or other intoxicating substances.

A fund allocated towards insured's child's education of Rs. 10000 is paid out in case of the death or disability of the insured caused due to an accident.

As per this plan, a sum assured of Rs. 1 lakh is payable in case of accidental death or disability of the insured.

Offers resignations or early termination of service of the employee, retirement of the employees, death or disability of the employee in service, surrender / discontinuance of policy.

At the death or disability of the parents, who can substitute for them?

Key man insurance, otherwise known as key person or key employee insurance, is coverage which can help protect your company in the case of an untimely death or disability of a top salesperson, executive or business owner.

Businesses desiring to minimize risk and prevent the potentially devastating effects of the death or disability of a top employee or executive should own key man insurance.

The amount of the policy is usually paid directly to your business so it can be used to cover the financial losses incurred by the death or disability of a key person.

Will there be a need for additional funds to provide for his or her needs at the death or disability of the parents?

These agreements are crucial for small and closely held companies, as in many cases, the death or disability of a business owner creates a significant financial burden on the business as well as the remaining partners.

The goal when valuing a key person for life and disability insurance is to get the correct amount of coverage based on the specific needs of the business but that also corresponds to the realistic loss associated with the death or disability of the key employee from the insurance company's viewpoint.

If you closely consider the impact to your company of the death or disability of a key person, you can begin to understand the level of protection you need.

The death or disability of one of these key people may well be a fatal blow to the company.

Businesses or organizations desiring to minimize risk and prevent the potentially devastating effects of the death or disability of a critically important person should own keyman insurance.

Major problems can arise at the death or disability of an equity partner.

Key man insurance, a.k.a. key person insurance or key employee insurance, is coverage that will protect the company or business in the case of an untimely death or disability of a top salesperson, executive or business owner.

Business owners that want to plan for the successful transition of the company in the event of the death or disability of a shareholder.

The death or disability of a partner or shareholder may suddenly mean you're faced with a partnership with their surviving spouse or family members.

The policyholder may additionally choose the disability benefit option under which, in case of death or disability of the insured during the tenure of the plan, the aggregate of all future premiums is paid which can be availed immediately in lump sum or can be invested in the fund where it will attract market linked returns.

In these cases, it is even more crucial to protect the company from the untimely death or disability of a significant bottom line contributor.

Your home is most at - risk following the death or disability of a loved one,..

Key man insurance commonly referred to as key person insurance or key employee insurance is designed to protect company in the case of an untimely death or disability of a top salesperson, executive or business owner.

The so - called triggering event could be the death or disability of an owner.

Key man insurance, commonly referred to as key person insurance, is the most effective and efficient tool a business can use to guard against the death or disability of a highly valued employee or business owner.

Business Continuation Insurance Life or disability coverage intended to help a business remain operational in the event of the death or disability of an owner.

Some insurance companies will also factor in the projected loss of revenues that could occur during the transition time following the death or disability of the key executive.

The federal government forgives certain federal student loans in the case of the death or disability of the borrower.

«If you had a longer amortization period left and you don't have a lot of equity in your home — especially if you're a new home buyer who was stretched to the max when you bought it — those are the people that should consider making extra payments in the case of a job loss, or the death or disability of a spouse,» he says.

«Every withdrawal will include an earnings portion, meaning that if the owner makes a nonqualified withdrawal, he or she is going to pay a penalty tax on earnings unless the withdrawal qualifies for an exemption, such as the death or disability of the beneficiary,» he said.

Key - employee insurance indemnifies you against losses resulting from the death or disability of a key employee in your firm, including yourself or your partners.

Not exact matches

While you're still employed, you can only withdraw money from your plan in the event of death, disability or financial hardship.

The 10 percent penalty is waived in case of death or disability.

We generally do not enter into severance arrangements with our named executive officers, and none of the equity awards granted to the named executive officers under Apple's equity incentive plans provide for acceleration in connection with a change in control or a termination of employment, other than as noted below or in connection with death or disability.

A SAR Agreement may provide for accelerated vesting in the event of the Participant's death, Disability, retirement or other circumstances the Committee may determine to be appropriate and may provide for tolling of vesting in the event of a Participant's leave of absence.

Also, if a majority of the Board is comprised of persons other than (i) persons for whose election proxies were solicited by the Board; or (ii) persons who were appointed by the Board to fill vacancies caused by death or resignation or to fill newly - created directorships («Board Change»), unless the Committee or Board determines otherwise prior to such Board Change, then participants immediately prior to the Board Change who cease to be employees or non-employee directors within six months after such Board Change for any reason other than death or permanent disability generally have their (i) options and stock appreciation rights become immediately exercisable and to the extent not canceled or cashed out, generally have at least six months to exercise such awards; (ii) restrictions with respect to restricted stock and RSRs lapse and generally shares are delivered; and (iii) performance shares and performance units pay out pro rata based on performance through the end of the last calendar quarter before the time the participant ceased to be an employee.

In the event Mr. Block's employment terminates due to his death or disability (as defined in his offer letter), he or his estate will be entitled to receive the following payments and benefits (less applicable tax withholdings), in addition to any other compensation and benefits to which he (or his estate) may be entitled under applicable plans, programs and agreements of the Company:

In addition, pursuant to our outside director equity compensation policy, in the event of the termination of a non-employee director's service to the Board as a result of death, disability or retirement, all of the non-employee director's equity compensation awards will become fully vested, provided that the non-employee director served as a member of the Board for at least three years prior to the date of termination and the non-employee director satisfied our equity ownership guidelines during his or her service as a Board member.

A distribution from a Roth IRA is tax free and penalty free, provided the five - year aging requirement has been satisfied and one of the following conditions is met: age 59 1/2, disability, qualified first - time home purchase, or death.

Except for those executives who have an employment agreement that expressly provides for payment of an Award under the Bonus Plan in limited circumstances, in the event a participant's employment is terminated for any reason prior to the date of payment of an Award under the Bonus Plan, such participant will not be entitled to any bonus under the Bonus Plan, provided that in the event that a participant's employment terminates during the performance period due to (i) death or (ii) disability, the Committee may, at its sole discretion, authorize the Company to pay, on a prorated basis, an Award determined in accordance with the terms and conditions of Bonus Plan.

Qualified Roth IRA distributions are tax - free provided a Roth account has been open for more than five years and the owner is at least age 59 1/2, or as a result of their death, disability, or using the first - time homebuyer exception.

The following table quantifies for each named executive officer the value of his unvested restricted shares and stock options, the vesting of which would be accelerated upon death or permanent disability (assuming the officer died or became permanently disabled on May 31, 2014):

Loans are also dischargeable in the event of total and permanent disability or death of the primary borrower.

Other reasons may include attainment of age 59 1/2, death, or disability.