Death Claims. 8.1 Upon the death of the Employee, the Corporation shall have an interest in the proceeds of the Policy equal to the "Assignee's Death Benefit Share", as defined within the provisions of Part A "Definitions" section of the Assignment. The balance of proceeds remaining shall be paid directly by the insurance company to the beneficiary or beneficiaries designated in the Policy.
Death Claims. Death Claims include the death benefit and any interest paid associated with the Reinsured Contracts.
Death Claims. Death Claims includes the cash surrender value and, if applicable any guaranteed minimum death benefits (GMDB) paid or accrued by the Ceding Company under the Reinsured Contracts at death of an Owner or Annuitant, as the case may be.
Death Claims. For each claim for death benefits under the life insurance Contracts, shall pay NLV the sum of (1) Death Benefits pursuant to the modified coinsurance arrangement and (
Death Claims. 5.1 When the Employee dies, the Bank shall be entitled to receive from the insurance company a portion of the death benefits payable under the insurance policy equal to the Bank’s Policy Interest the receipt of this amount by the Bank shall constitute satisfaction of the Bank’s rights under Section 3 of this Agreement.
5.2 When the Employee dies, the Beneficiary shall be entitled to receive from the insurance company the amount of the death benefits equal to the Employee Death Benefit.
Death Claims. Claims covered under this Agreement include only "Death Claims" which: (i) are for the proportionate share of the risk reinsured by Generali USA; (ii) arise out of the death of the Reinsured Policy's named insured; and, (iii) are based upon the contractual death benefits specified in the Reinsured Policy including any applicable riders and supplementary benefits that are reinsured, as more fully specified in Schedule A. The Reinsurer shall also pay its proportionate share of interest imposed automatically by statute without regard to fault.
Death Claims. A. When the survivor of the Husband and Wife dies, the Company shall be entitled to receive a portion of the death benefits provided under the Policy; provided, however, that a Vesting Event shall not have occurred prior to such death, in which event the Company shall not receive any part or all of the death benefits provided under the Policy. The amount to which the Company shall be entitled shall be the Net Payment Amount less any repayments made by the Epstxxx Xxxily Trust to the Company prior to the death of the survivor of the Husband and Wife; provided, however, that upon receipt of such amount by the Company, the Company shall release the collateral assignment of the Policy made by the Epstxxx Xxxily Trust to the Company pursuant to ARTICLE 6 of this Agreement. The receipt of such amount by the Company shall constitute satisfaction of the Epstxxx Xxxily Trust's obligation under Section A of ARTICLE 5 of this Agreement. To the extent, if any, the death benefits under the Policy are insufficient to pay in full the Net Payment Amount less any repayments made by the Epstxxx Xxxily Trust to the Company prior to the death of the survivor of the Husband and Wife, the Epstxxx Xxxily Trust shall be liable to the Company for the amount of such insufficiency.
B. When the survivor of the Husband and Wife dies, the beneficiary or beneficiaries named by the Epstxxx Xxxily Trust (or by its assignees) shall be entitled to receive the amount, if any, of the death benefits provided under the Policy in excess of the amount, if any, payable to the Company under Section A of this ARTICLE 8. Such amount shall be paid under the settlement option elected by the Epstxxx Xxxily Trust (or by its assignees).
C. If any interest is due upon the death benefits provided under the Policy, the Company and the beneficiary or beneficiaries named by the Epstxxx Xxxily Trust (or by its assignees) shall share such interest in the same proportions as their respective shares of such death benefits (as provided in Sections A and B, respectively, of this ARTICLE 8) shall bear to the total death benefits provided under the Policy excluding such interest.
D. If, upon the death of the survivor of the Husband and Wife, there is a refund of unearned premium under the Policy, then any such refund shall be divided between the Company (provided, however, that a Vesting Event shall not have occurred prior to such death, in which event the Company shall not receive any part or all of such refund under...
Death Claims. Upon receipt of acceptable notification* that the Borrower or Co-Borrower has died, the Servicer must suspend any and all collection activity with respect to the loan, as an administrative forbearance, for 60 days. If the Borrower in whose name and Social Security number the account is listed has died, the Servicer will de-convert and reconvert the loan under the other Borrower's name. *ACCEPTABLE WRITTEN NOTIFICATION OF DEATH - Certified copy of the death certificate - Letters testamentary or certificate of appointment of the executor / executrix of the estate, stamped and certified by the applicable court. - Obituary from local newspaper All written notification must be received by XXXX within sixty (60) calendar days of receipt by the Servicer. If the Servicer receives verbal or written notification that is not considered acceptable, the Servicer will still provide XXXX, within sixty (60) calendar days, with the written notification. In instances where unacceptable information is received, the Servicer will continue all collection activity as well as pursue all avenues to obtain acceptable written notification. The Servicer will file a claim with XXXX within sixty (60) calendar days of receipt of the acceptable notification provided the loan(s) are single signatory. In instances where there is more than one signatory, a claim will not be filed to XXXX, as the surviving signatory (s) is still obligated on the debt. Any payments that XXXX receives from a deceased's Estate will be forwarded to the Servicer to be applied to all applicable loan (s), provided the Servicer has retained the servicing of the loan(s).
Death Claims. In the event of the Employee's death, the Employee's personal representative and the Company shall promptly take all steps necessary to cause the death benefits provided under the Policy to be paid by the Insurer. The Policy shall provide by endorsement or otherwise that in the event of the death of the Employee while the Policy is in full force and effect during the term of this Agreement, there shall be paid to the beneficiary or beneficiaries designated by the Employee as provided in Paragraph 6 of this Agreement, that portion of the death benefit retained by the Employee as provided in Paragraph 5 of this Agreement, and the remaining proceeds from the Policy shall be paid directly to the Company.
Death Claims. For each claim for death benefits under the life insurance Contracts, shall pay NLV the sum of (1) Death Benefits pursuant to the modified coinsurance arrangement and (2) Death Benefits pursuant to the term reinsurance arrangement, calculated according to the following:
1. With respect to the modified coinsurance arrangement, one-half of the Death Benefits paid to policyholders, before diminution for policy loans and without deduction of accumulated value, including benefits under the Accidental Death Benefit rider, without deduction of reserves, and including benefits under the Accelerated Death Benefit rider, before diminution for policy loans and without deduction of accumulated value. These Death Benefits are paid to NLV on a single sum basis; will not participate in any periodic settlement of these benefits to policyholders.
2. With respect to the term reinsurance arrangement, one-half of (a) minus one-half of (b),where:
(a) = Death Benefit, on contracts other than survivorship life contracts, determined as of the beginning of the policy year of death, before diminution for policy loans, including benefits under the Accelerated Death Benefit rider, before diminution for policy loans, and excluding benefits under the Accidental Death Benefit rider. These Death Benefits are paid to NLV on a single sum basis; will not participate in any periodic settlement for these benefits to policyholders.
(b) = Accumulated Value, determined as of the beginning of the policy year of death, before diminution for policy loans, with respect to the Death Benefits in (a) above. For life contracts other than survivorship life contracts, has assumed 100% of the mortality risk with respect to the reinsured contracts and will perform death claim administration services related to the validation of claims. Therefore, will have unilateral discretion with respect to decisions regarding claims for death benefits, including decisions to contest the claim or the policy. will bear all costs associated with the investigation and settlement of death claims or lawsuits with respect thereto. For survivorship life contracts, and NLV have each assumed 50% of the mortality risk with respect to the reinsured contracts, but will perform death claim administration services related to the validation of claims. All death claims made on the underlying policies, when settled by in good faith will be binding on NLV. will notify NLV promptly of such obligations as they become known to . will give NL...
