Terminal Illness Distributions Clause Samples

The Terminal Illness Distributions clause allows a plan participant to access funds or benefits from a retirement or insurance plan if they are diagnosed with a terminal illness. Typically, this clause outlines the medical criteria required for eligibility, such as certification by a physician that the individual has a limited life expectancy, and specifies the process for requesting and receiving the distribution. Its core function is to provide financial support to individuals facing a terminal diagnosis, addressing the need for immediate access to resources during a critical time.
Terminal Illness Distributions. If you have taken a terminal illness distribution, you may generally pay all or a portion of the aggregate amount of such distribution to a ▇▇▇▇ ▇▇▇ at any time during the three-year period beginning on the day after the date on which such distributions was received.
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Terminal Illness Distributions. An exception to the 10% early withdrawal penalty for distributions made to an individual whose physician certifies that they have an illness or condition that is reasonably expected to result in death within 84 months. 1
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Related to Terminal Illness Distributions

  • Interim Distributions At such times as may be determined by it in its sole discretion, the Trustee shall distribute, or cause to be distributed, to the Beneficiaries, in proportion to the number of Trust Units held by each Beneficiary relating to the Trust, such cash or other property comprising a portion of the Trust Assets as the Trustee may in its sole discretion determine may be distributed without detriment to the conservation and protection of the Trust Assets in the Trust.