CHANGE OF LIFE INSURED Sample Clauses

CHANGE OF LIFE INSURED. This rider provides the ability to change the life insured under the policy without surrender/re-issue. The new insured must be fully underwritten. If the rider is exercised, the Reinsurer will continue to participate in the policy with reinsurance premiums based on the gender, risk class, and age of the new insured. There are no reinsurance premiums for the rider/benefit.
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CHANGE OF LIFE INSURED. You have the option to request for a change of Life insured from the third (3rd) Policy year onwards, subject to the following conditions:
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CHANGE OF LIFE INSURED. While the policy is inforce, You have the option to request for a change of Life insured from the third Policy year onwards, subject to the following conditions: • The new Life insured must meet the entry Age requirement; • All exclusions and conditions will be applicable to the new Life insured. The exclusions and conditions to this policy will begin from the effective date of the change of Life insured; • Acceptance of the new Life insured is subject to Our approval, depending on the insurability of the new Life insured and such other terms and conditions as We shall determine from time to time; • Where the Policy owner is a corporation, Policy owner may request to change the Life insured under this policy, without any limit on the number of changes. Where the Policy owner is not a corporation, Policy owner may only change the Life insured once throughout the policy term; and • This policy will cover the new Life insured up to the Maturity date on the Policy anniversary immediately before the new Life insured attains 100 years old.
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CHANGE OF LIFE INSURED. You have the option to request for a change of Life insured after the second Policy year, subject to the following conditions:  Acceptance of the new Life insured is subject to our approval, depending on the insurability of the new Life insured and such other terms and conditions as we shall determine from time to time;  All exclusions and conditions will be applicable to the new Life insured. The exclusions and conditions to this policy will begin from the effective date of the change of Life insured;  Where the Policy owner is a corporation, Policy owner may request to change the life insured under this policy, without any limit on the number of changes. Where the Policy owner is not a corporation, Policy owner may only change the Life insured once throughout the policy term;  The Guaranteed Death Benefit cover will be revised to guarantee a minimum death coverage before the policy anniversary when the new Life insured attains age 90; and  The Accidental Death Benefit will be revised to cover the new Life insured on or before the policy anniversary when the new Life insured attains age 80. If We have paid a claim under the TI Benefit, and the policy is still in force thereafter, the change of Life insured benefit will terminate under this policy. When the change of Life insured request becomes effective, the surrender value and any bonuses in the policy will be revised accordingly. We will notify You of any additional Top-up amount You may have to pay for the change of Life insured upon acceptance of Your application.
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CHANGE OF LIFE INSURED. While the policy is in force, You have the option to request for a change of Life insured after the second (2nd) Policy year, subject to the following conditions:
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CHANGE OF LIFE INSURED. Where the Policy owner is an entity, Policy owner has the option to request for a change of Life insured under this policy after the first Policy year, subject to the following conditions:  Acceptance of the new Life insured is subject to our approval, depending on the insurability of the new Life insured and such other terms and conditions as we shall determine from time to time. The new Life insured must be a Key personnel of the entity;  All exclusions and conditions will be applicable to the new Life insured. The exclusions and conditions to this policy will begin from the effective date of the change of Life insured; and  The policy term will remain unchanged. The policy will mature on the policy anniversary immediately before the original Life insured attains 100 years old. There are no restrictions on the number of changes that can be made.
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Related to CHANGE OF LIFE INSURED

  • Life Insurance No portion of your IRA may be invested in life insurance contracts.

  • Term Life Insurance The Employer will maintain and make available to full-time and part-time employees, the current term life insurance plan as set forth in the document "Summary of Health Benefits, Maryland State Employees."

  • Fire and Extended Coverage Insurance Landlord shall maintain and pay, subject to reimbursement from Tenant as provided in Section 4 hereof, for fire and casualty special form “all risk” insurance, with extended coverage (including boiler and machinery coverage), covering the Building and any permanently affixed alterations or improvements thereto other than Tenant’s personal property, trade fixtures and equipment (all of which shall be insured by Tenant), equal to at least eighty percent (80%) of the replacement cost thereof Except for Tenant’s use of materials used in the ordinary course of Tenant’s business which use will be in strict compliance with all applicable laws and regulations, Tenant shall not do or cause to be done or permit on the Premises or in the Building anything deemed extra hazardous on account of fire and Tenant shall not use the Premises, the Building or the Common Areas in any manner which will cause an increase in the premium rate for any insurance in effect on the Building or a part thereof. If, because of anything done, caused to be done, permitted or omitted by Tenant or Tenant’s Invitees, the premium rate for any kind of insurance in effect on the Building or any part thereof shall be raised, Tenant shall pay Landlord on demand the amount of any such increase in premium which Landlord shall pay for such insurance and if Landlord shall demand that Tenant remedy the condition which caused any such increase in an insurance premium rate, Tenant shall remedy such condition within twenty (20) days after receipt of such demand. Tenant shall maintain and pay for all fire and extended coverage insurance on its contents in the Premises, including trade fixtures, equipment, machinery, merchandise or other personal property belonging to or in the custody of Tenant. Tenant shall first furnish to Landlord copies of insurance policies or certificates of insurance evidencing the required coverage prior to the Commencement Date and thereafter prior to each policy renewal date. Notwithstanding anything herein to the contrary, Landlord reserves the right for itself, any affiliated entities and any successors and assigns, with a net worth substantially equivalent to Landlord’s net worth as of the date hereof, to self-insure against any risk required hereunder to be insured or otherwise assumed by Landlord so long as any such program of self-insurance affords the same coverage of risks and benefits which would be afforded in the event Landlord procured insurance from a third-party insurer.

  • Non-Exclusivity; Survival of Rights; Insurance; Subrogation; Contribution 13.1 The rights of indemnification and to receive advancement of Expenses as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may at any time be entitled under applicable law, the certificate of incorporation or by-laws of the Company, any agreement, a vote of stockholders or a resolution of directors, or otherwise. No amendment, alteration or repeal of this Agreement or any provision hereof shall be effective as to any Indemnitee with respect to any action taken or omitted by such Indemnitee in his Corporate Status prior to such amendment, alteration or repeal.

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