Common use of Due Diligence for Property Due Clause in Contracts

Due Diligence for Property Due. (a) Upon Annuity Contracts Reaching the Maturity Date; and (b) Upon an Endowment Policy With a Maturity Age of 75 or Less Reaching Maturity Age Company shall send one or more notification letters to, and may otherwise attempt to notify, the Beneficiary. If there is no response to a notification letter within 180 days (six months) after the initial notification letter is sent and the property is not paid to the Beneficiary in accordance with the terms of the Agreement, the property shall be subject to the reporting and remittance process described in Sections IV.B and V below. At least one letter shall be sent to the last known address on Company's books and records, as of the time it receives the UPR, for the Beneficiary. If at any time prior to the expiration of the 180 day period described above, Company determines that the Beneficiary cannot be located, the property shall be subject to the reporting and remittance process described in Sections IV.B and V below.

Due Diligence for Property Due. (a) Upon Annuity Contracts Reaching the Maturity Date; and (b) Upon an Endowment Policy With a Maturity Age of 75 or Less Reaching Maturity Age Company shall send one or more notification letters to, and may otherwise attempt to notify, the Annuity Contract Owner or Beneficiary. If there is no response to a notification letter within 180 days (six months) after the initial notification letter is sent and the property is not paid to the Annuity Contract Owner or Beneficiary in accordance with the terms of the Agreement, the property shall be subject to the reporting and remittance process described in Sections IV.B and V below. At least one letter shall be sent to the last known address on Company's books and records, as of the time it receives the UPR, for the Beneficiary. If at any time prior to the expiration of the 180 day period described above, Company determines that the Beneficiary cannot be located, the property shall be subject to the reporting and remittance process described in Sections IV.B and V below.