Common use of Death of Payee Clause in Contracts

Death of Payee. At the death of the payee, any payments remaining will be paid according to the terms of the option chosen for payment of proceeds, unless the contingent payee elects in writing to receive the present value of any remaining guaranteed payments in a single sum. If a contingent payee has not been named or does not survive the payee, the following amounts will be paid in one sum to the estate of the payee: (1) any amount left on deposit under option 1; and (2) the present value of any remaining guaranteed payments under options 2 through 5. If you have not named a contingent payee, or if every contingent payee named by you dies before the payee, you may, by written notice, name a new contingent payee. The new contingent payee will receive any amount that would otherwise have been payable to the payee's estate.

Death of Payee. At the death of the payee, we will pay any payments remaining will be paid according to the terms of the settlement option chosen for payment of proceedschosen, unless the contingent payee elects in writing to receive the present value of any remaining guaranteed payments in a single sum. If a contingent payee has not been named or does not survive the payee, we will pay the following amounts will be paid in one sum to the estate of the payee: (1) any amount left on deposit under option Option 1; and (2) the present value of any remaining guaranteed payments under options Options 2 through 5. If you have not named a contingent payee, or if every contingent payee named by you dies before the payee, you may, by written noticeWritten Notice to us, name a new contingent payee. The new contingent payee will receive any amount that would otherwise have been payable to the payee's estate.

Death of Payee. At the death of the payee, we will pay any payments remaining will be paid according to the terms of the settlement option chosen for payment of proceedschosen, unless the contingent payee elects in writing to receive the present value of any remaining guaranteed payments in a single sum. If a contingent payee has not been named or does not survive the payee, we will pay the following amounts will be paid in one sum to the estate of the payee: (1) any amount left on deposit under option Option 1; and (2) the present value of any remaining guaranteed payments under options Options 2 through 5. If you have not named a contingent payee, or if every contingent payee named by you dies before the payee, you may, by written noticeWritten Notice to us, name a new contingent payee. The new contingent payee will receive any amount that would otherwise have been payable to the payee's estate.. J177

Death of Payee. At the death of the payee, any payments remaining will be paid according to the terms of the settlement option chosen for payment of proceedschosen, unless the contingent payee elects in writing to receive the present value of any remaining guaranteed payments in a single sum. If a contingent payee has not been named or does not survive the payee, the following amounts will be paid in one sum to the estate of the payee: (1) any amount left on deposit under option Option 1; and (2) the present value of any remaining guaranteed payments under options Options 2 through 5. If you have not named a contingent payee, or if every contingent payee named by you dies before the payee, you may, by written noticenotice to us, name a new contingent payee. The new contingent payee will receive any amount that would otherwise have been payable to the payee's estate.

Death of Payee. At the death of the payee, we will pay any payments remaining will be paid according to the terms of the payment option chosen for payment of proceedschosen, unless the contingent payee elects in writing by Written Notice to receive the present value of any remaining guaranteed payments in a single sum. If you do not name a contingent payee has not been named or the contingent payee does not survive the payee, we will pay the following amounts will be paid in one sum to the estate of the payee: (1) any amount left on deposit under option Option 1; and (2) the present value of any remaining guaranteed payments under options Options 2 through 5. If you have not named a contingent payee, or if every contingent payee named by you dies before the payee, you may, by written noticeWritten Notice, name a new contingent payee. The new contingent payee will receive any amount that would otherwise have been payable to the payee's ’s estate.

Death of Payee. At the death of the payee, any payments remaining will be paid according to the terms of the option chosen for payment of proceeds, unless the contingent payee elects in writing to receive the present value of any remaining guaranteed payments in a single sum. J188 If a contingent payee has not been named or does not survive the payee, the following amounts will be paid in one sum to the estate of the payee: (1) any amount left on deposit under option 1; and (2) the present value of any remaining guaranteed payments under options 2 through 5. If you have not named a contingent payee, or if every contingent payee named by you dies before the payee, you may, by written notice, name a new contingent payee. The new contingent payee will receive any amount that would otherwise have been payable to the payee's estate.

Death of Payee. At the death of the payee, we will pay any payments remaining will be paid according to the terms of the payment option chosen for payment of proceedschosen, unless the contingent payee elects in writing by Written Notice to receive the present value of any remaining guaranteed payments in a single sum. If you do not name a contingent payee has not been named or the contingent payee does not survive the payee, we will pay the following amounts will be paid in one sum to the estate of the payee: (1) any amount left on deposit under option Option 1; and (2) the present value of any remaining guaranteed payments under options Options 2 through 5. ICC19J209 If you have not named a contingent payee, or if every contingent payee named by you dies before the payee, you may, by written noticeWritten Notice, name a new contingent payee. The new contingent payee will receive any amount that would otherwise have been payable to the payee's ’s estate.

Death of Payee. At the death of the payee, any payments remaining will be paid according to the terms of the option chosen for payment of proceeds, unless the contingent payee elects in writing to receive the present value of any remaining guaranteed payments in a single sum. If a contingent payee has not been named or does not survive the payee, the following amounts will be paid in one sum to the estate of the payee: (1) any amount left on deposit under option 1; and (2) the present value of any remaining guaranteed payments under options 2 through 5. If you have not named a contingent payee, or if every contingent payee named by you dies before the payee, you may, by written notice, name a new contingent payee. The new contingent payee will receive any amount that would otherwise have been payable to the payee's ’s estate.

Death of Payee. At the death of the payee, we will pay any payments remaining will be paid according to the terms of the payment option chosen for payment of proceedschosen, unless the contingent payee elects in writing by Written Notice to receive the present value of any remaining guaranteed payments in a single sum. If you do not name a contingent payee has not been named or the contingent payee does not survive the payee, we will pay the following amounts will be paid in one sum to the estate of the payee: (1) any amount left on deposit under option Option 1; and (2) the present value of any remaining guaranteed payments under options Options 2 through 5. ICC19J209 26 If you have not named a contingent payee, or if every contingent payee named by you dies before the payee, you may, by written noticeWritten Notice, name a new contingent payee. The new contingent payee will receive any amount that would otherwise have been payable to the payee's ’s estate.

Death of Payee. At the death of the payee, any payments remaining will be paid according to the terms of the payment option chosen for payment of proceedschosen, unless the contingent payee elects in writing to receive the present value of any remaining guaranteed payments in a single lump sum. If a contingent payee has not been named or does not survive the payee, the following amounts will be paid in one sum to the estate of the payee: (1) any amount left on deposit under option Option 1; and (2) the present value of any remaining guaranteed payments under options Options 2 through 5. If you have not named a contingent payee, or if every contingent payee named by you dies before the payee, you may, by written notice, name a new contingent payee. The new contingent payee will receive any amount that would otherwise have been payable to the payee's estate.