Common use of CHANGE OF BENEFICIARY Clause in Contracts

CHANGE OF BENEFICIARY. The right to change the beneficiary is reserved to the employee, provided there is no legal restriction to the contrary, but such change shall take effect only upon receipt of a written request by the Employer. Whenever a change of beneficiary is desired a completed Change of Beneficiary Form should be submitted to the Personnel & Industrial Relations Department in order that the change may be recorded. If the beneficiary named should predecease the employee another beneficiary should be named immediately. Any addition to the initial amount of insurance will be paid to the person to whom such initial amount is payable unless another beneficiary for the additional amount shall have been validly appointed.

CHANGE OF BENEFICIARY. The right to change the beneficiary is reserved to the employee, provided there is no legal restriction to the contrary, but such change shall take effect only upon receipt of a written request by the Employer. Whenever a change of beneficiary is desired a completed Change of Beneficiary Form should be submitted to the Personnel & Industrial Relations Department in order that the change may be recorded. If the beneficiary named should predecease the employee another beneficiary should be named immediately. Any addition to the initial amount of insurance will be paid to the person to whom such initial amount is payable unless another beneficiary for the additional amount shall have been validly appointed.