COMMON DISASTER CLAUSE Sample Clauses
A Common Disaster Clause is a provision in insurance policies or estate planning documents that addresses the distribution of benefits if the insured and their primary beneficiary die simultaneously or within a short period of each other due to the same event. Typically, this clause specifies an alternative beneficiary or sets a minimum survival period for the primary beneficiary to inherit, such as requiring the beneficiary to outlive the insured by a certain number of days. Its core function is to prevent complications or unintended outcomes in benefit distribution, ensuring that assets or insurance proceeds are allocated according to the policyholder's wishes even in the event of a common disaster.
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COMMON DISASTER CLAUSE. If any beneficiary under this Agreement and I shall die as a result of a common disaster or under circumstances giving rise to any question as to which one of us died first, it shall be presumed that I survived such beneficiary and this trust estate shall be administered accordingly. If any person to whom any income could be payable from any trust and any remainderman of such trust shall die as a result of a common disaster or under circumstances giving rise to any question as to which one died first, it shall be presumed that such remainderman died before any such other person.