Death of Insured. Upon the death of the Insured, the Company shall be entitled to payment by the Insurer from the death benefit payable under the Policy an amount which shall be equal to the lesser of the cash surrender value of the Policy immediately prior to the Insured's death or the Company Advances ("Company Death
Death of Insured s spouse, children, parent or parent in-law’s.
Death of Insured a. Upon the death of the Insured, Corporation and Owner shall promptly take all action necessary to obtain the death benefit provided under the Policy; when such benefit has been collected and paid as provided therein, this Agreement shall thereupon terminate.
Death of Insured. If the death of the Insured under this policy occurs while this agreement is in force, the term insurance on each Additional Insured covered by this agreement will continue for a period of 90 days beginning on the date of death of the Insured. This term insurance may be converted during the 90 day period. At the end of the 90 day period all term insurance under this agreement will terminate. Change in Specified Amount--The Specified Amount for an Additional Insured may be changed subject to the following conditions:
Death of Insured. A. Upon the death of the Insured, APC and the personal representative of the Insured shall promptly take any and all actions necessary to obtain the death benefit proceeds provided under the Policy.
Death of Insured. If the company owns insurance on the life of a member at the time of his or her death and the price for the purchase of the member’s ownership shares is determined by appraisal, the insurance must be valued for purposes of the appraisal at its cash surrender value on the day preceding the member’s death. Whether the purchase price is determined by agreement or appraisal and whether the purchase is made by the company or the other members, the purchase price for all of a deceased member’s ownership shares may not be less than the amount of the death benefits received by the company, and a down payment must be made when the purchase of the decedent’s shares is closed equal to the amount of such death benefits. The amount of this down payment will reduce the amount of the promissory note or notes representing the obligation to purchase the decedent’s shares.
Death of Insured. If the death of the Insured under this policy occurs while this agreement is in force, the term insurance on each Insured Child covered by this agreement will continue in force until the anniversary of this policy nearest the Insured Child's 23rd birthday. The Cost of Insurance for such term insurance will be waived. Monthly Deduction--While this agreement is in force, the Monthly Deduction under this policy will include the Monthly Deduction for this agreement. The Monthly Deduction for this agreement is the Cost of Insurance for the term insurance benefit under this agreement. Cost of Insurance--The Cost of Insurance for each policy month for this agreement is calculated as (a) multiplied by (b), where
Death of Insured. Upon death of the Insured, coverage will continue as paid-up level term life insurance on any living Insured Child until the rider anniversary following the child's 25th birthday. This paid-up term life insurance may be converted as provided in this rider. The paid-up term life insurance provided under this benefit will have cash value. If this insurance is surrendered, we will pay the cash value. The cash value is equal to the Net Single Premium for the paid-up insurance. Calculations are based on the Commissioner's 1980 Standard Ordinary Mortality Table with interest at 4-1/2% per year. The cash value of the paid-up term insurance, on the rider anniversary and 30 days thereafter, will not be less than the present value (on the anniversary) of the future benefits provided by the rider. VUL31838ST 2-98 ULife 31838-0298 ---------- VUL301ST ----------------------------------------------------------------------------- TERM OF INSURANCE ----------------------------------------------------------------------------- The insurance on an Insured Child will end on the rider anniversary following the child's 25th birthday. ----------------------------------------------------------------------------- PREMIUM PROVISIONS ----------------------------------------------------------------------------- COST FOR RIDER Thecost for this rider is in addition to the cost for the policy. The cost for this rider will be deducted from the cash value of the policy on the same dates as the monthly deduction for the policy. The cost for the rider will be deducted until the Expiration Date of the rider unless the death of the Insured occurs prior to that time. In such event, no further cost for this rider is due.
Death of Insured. Upon termination of this Agreement, Owner shall have a 90-day option to pay to Employer an amount equal to the aggregate of the Cumulative Unreimbursed Premiums and receive a release of the Assignment from Employer. Employer agrees that Owner may obtain this amount from the Policy by effectuating a policy loan or a withdrawal or by partial surrender of the Policy, as long as Employer receives reimbursement of the full amount of the Cumulative Unreimbursed Premiums. To assure that Employer will receive its entire interest, Employer may request that Owner provide Employer with collateral which is satisfactory to Employer, in its sole discretion. Alternatively, if Insured is to perform future services for Employer and if Insured is entitled to receive deferred compensation for these services pursuant to a separate agreement or agreements between Insured and Employer, then Employer shall have the right under this Agreement to release to Owner its interest in all or any portion of such compensation in partial or complete satisfaction of that deferred payment obligation. Nothing herein shall be construed to represent an ownership right or interest of Owner or Insured in or to any particular asset of Employer, nor shall Owner or Insured be deemed to be in constructive receipt of such amount. Owner does not have any right to a release of the Assignment by Employer without reimbursement, and may not anticipate, pledge, assign, hypothecate or, in any manner, exercise rights, ownership or control over any such right or interest. Should Owner (or his assignees) fail to exercise one of these options within the prescribed 90-day period, the Policy will be surrendered to Insurer and the proceeds distributed between Employer and Owner as prescribed by Article V.
Death of Insured. If the Insured dies, we will return any unearned premium for the rider.
