Delaware Code Title 29 Sec. 5316 – Group life insurance
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(a) Upon the death of an individual receiving a pension under this chapter a benefit will be provided in the same manner as benefits provided under § 5546 of this title to the designated beneficiary or in the absence of a designated beneficiary the amount of this benefit shall be paid to the deceased pensioner’s estate.
Terms Used In Delaware Code Title 29 Sec. 5316
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302
(b) The benefit granted under this section shall not be construed as a contractual obligation of the State or of the Pension Fund and may be revised or terminated by an act of the General Assembly.
68 Del. Laws, c. 8, § ?1; 68 Del. Laws, c. 290, § ?60; 69 Del. Laws, c. 451, § ?1; 70 Del. Laws, c. 186, § ?1; 72 Del. Laws, c. 169, § ?1; 73 Del. Laws, c. 146, § ?4;