Benefits During Lifetime Sample Clauses

The "Benefits During Lifetime" clause defines the rights of an individual to receive certain benefits while they are still alive. Typically, this clause outlines which benefits—such as insurance payouts, annuities, or trust distributions—are accessible to the beneficiary prior to their death, and may specify conditions or limitations for accessing these benefits. Its core practical function is to ensure that individuals can utilize or enjoy specified benefits during their lifetime, rather than having all benefits deferred until after death, thereby providing financial support or security when it is most needed.
Benefits During Lifetime 
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Related to Benefits During Lifetime

  • Distributions During Lifetime (a) Notwithstanding any provision of this Agreement to the contrary, the distribution of the Participant’s interest in the Custodial Account shall be made in accordance with the requirements of Code Section 408(a)(6) and the regulations thereunder, the provisions of which are herein incorporated by reference. If distributions are made from an annuity contract purchased from an insurance company, distributions thereunder must satisfy the requirements of Q&A-4 of Section 1.401(a)(9)-6 of the Income Tax Regulations, rather than paragraphs (b), (c) and (d) below and Section 5.

  • Benefits During Leave Employees are encouraged to contact the Employer’s Benefits Office (phone # ▇▇▇-▇▇▇-▇▇▇▇, ▇▇▇▇▇▇▇▇@▇▇.▇▇▇) prior to any leave without pay to understand impact on benefits and learn about other points to consider.

  • Death During Employment If the Executive dies during the term of employment and has not attained the age of seventy years, the Corporation and/or any third party insurance provided by the Corporation, through a coordination of benefits, shall pay the estate of the Executive a death benefit equal to two times the Executive's annual salary. In the event the Executive receives death benefits payable under any group life insurance policy issued to the Corporation, the Corporation's liability under this clause will be reduced by the amount of the death benefit paid under such policy. The Corporation shall pay any remaining death benefits to the estate of the Executive over the course of twelve (12) months in the same manner and under the same terms as the Executive would have been paid if he had still been working for the Corporation. No later than one (1) month from the date of death, the estate of the Executive will also be paid any accumulated vacation pay. Such payments pursuant to this paragraph shall constitute the full compensation of said Executive and he and his estate shall have no further claim for compensation by reason of his employment by the Corporation.

  • Death During Benefit Period If the Executive dies after the benefit payments have commenced under this Agreement but before receiving all such payments, the Company shall pay the remaining benefits to the Executive's beneficiary at the same time and in the same amounts they would have been paid to the Executive had the Executive survived.

  • Benefits Not Paid During Certain Periods General illness leave and short-term illness leave benefits will not be paid when an Employee is: