Common use of Death Benefit Amounts Clause in Contracts

Death Benefit Amounts. a. In the event of Owner's death prior to the termination of this Agreement, the death benefit payable to the Employer (or the Employer's designated beneficiaries) under this Agreement shall be equal to the Employer's Interest in the Policy at the time of Owner's death. b. In the event of the Owner's death prior to the termination of this Agreement, the death benefit payable to the Owner (or the Owner's designated beneficiaries) shall be the excess of the total death proceeds under the Policy less the amount payable to the Employer (or the Employer's designated beneficiaries). Following the termination of this Agreement and upon the satisfaction of the Employer's Interest in the Policy, the Owner's death benefit will be equal to the total death benefit provided by the Policy. c. Owner understands that sufficiency of cash value in the Policy to provide expected amounts of death benefit under this Agreement may vary as a result of Policy performance and duration of premium payments and this is in no event guaranteed by the Employer or the Insurer.

Death Benefit Amounts. a. In the event of Owner's ’s death prior to the termination of this Agreement, the death benefit payable to the Employer (or the Employer's ’s designated beneficiaries) under this Agreement shall be equal to the Employer's ’s Interest in the Policy at the time of Owner's ’s death. b. In the event of the Owner's ’s death prior to the termination of this Agreement, the death benefit payable to the Owner (or the Owner's ’s designated beneficiaries) shall be the excess of the total death proceeds under the Policy less the amount payable to the Employer (or the Employer's ’s designated beneficiaries). Following the termination of this Agreement and upon the satisfaction of the Employer's ’s Interest in the Policy, the Owner's ’s death benefit will be equal to the total death benefit provided by the Policy. c. Owner understands that sufficiency of cash value in the Policy to provide expected amounts of death benefit under this Agreement may vary as a result of Policy performance and duration of premium payments and this is in no event guaranteed by the Employer or the Insurer.