Policy Proceeds definition

Policy Proceeds. The amount determined in accordance with the terms of this Policy which is payable at the death of the Insured. This amount is the Death Benefit as described in Section 7, decreased by the amount of any outstanding Policy Debt, and increased by the amounts payable under any supplemental benefits. Policy Year: A one-year period commencing on the Issue Date or any Anniversary and ending on the next Anniversary.

Policy Proceeds means the aggregate amount payable by the Insurer pursuant to the Policy to the Participant’s Beneficiary and the Company upon the death of the Participant.

Policy Proceeds means the proceeds paid by Underwriter on a Purchased Receivable submitted for payment under the Policy.

Examples of Policy Proceeds in a sentence

• The Request Letter is a standardized form, which instructs Capitol Bankers Life to “Change Beneficiary As Follows”—the “Simon Bernstein Irrevocable Insurance Trust Dated June 21, 1995” is the new “successor” to the Policy Proceeds.

• As in the Allied Digital Technologies Corporation case, by virtue of the adversary proceeding filed by the Committee, the Movants face ‘real' defense costs, while the Debtor faces ‘hypothetical' indemnification costs." The court therefore concluded that, in these circumstances, "the Policy Proceeds are not property of the Debtor's bankruptcy estate," and that insurer could therefore advance defense costs without running afoul of the automatic stay of the Bankruptcy Code.

• In the other summary judgment motion pending before the Court, the Estate argues that Plaintiffs cannot establish the existence of the 1995 Trust, such that the Estate is entitled to the Policy Proceeds as Simon Bernstein’s default beneficiary.

• Heritage was eventually dismissed in February of 2014 after interpleading the Policy Proceeds.

• This argument similarly turns on Eliot’s lack of legal interest in the Estate or testamentary trust, and the Plaintiffs’ acknowledgement that Eliot, under their theory, is entitled to an equal share of the Policy Proceeds.

More Definitions of Policy Proceeds

Policy Proceeds means any and all proceeds of any type of, from or under the Policy, including (i) the cash surrender value of the Policy, (ii) any and all proceeds of the Policy payable when it becomes a claim at death, maturity or otherwise, and (iii) distributions or shares of surplus, dividends, deposits or additions to the Policy, now or hereafter made thereunder or apportioned thereto.

Policy Proceeds. The amount determined in accordance with the terms of the Policy which is payable at the death of the Insured prior to Maturity. This amount is the Death Benefit as described in Section 8, decreased by the amount of any outstanding Policy Debt, and increased by the amounts payable under any supplemental benefits.

Policy Proceeds means the amount of $2,000,000 from the Defendants’ insurance carrier, the Scottsdale Insurance Company; and the amount of

Policy Proceeds. The amount determined in accordance with the terms of the Policy which is payable at the death of the Insured. This amount is the death benefit as described in Section 8, decreased by the amount of any outstanding Policy Debt and increased by any amounts payable under any supplemental benefits.

Policy Proceeds means the proceeds paid by the Insurer on an Assigned Receivable submitted for payment under the Policy.

Policy Proceeds means the death benefits payable under the Policy, net of any outstanding policy loans or cash withdrawals.

Policy Proceeds means the death benefits payable under the life insurance policy purchased by Xxxxx on the life of the Executive pursuant to the Split Dollar Life Insurance Agreement between Executive and Xxxxx executed on even date herewith, net of any outstanding policy loans or cash withdrawals.