Common use of EFFECT OF THE LIFE INSURANCE POLICY’S CONTESTABILITY CLAUSES Clause in Contracts

EFFECT OF THE LIFE INSURANCE POLICY’S CONTESTABILITY CLAUSES. Notwithstanding anything to the contrary, the parties herein understand and agree that the payment of the benefits provided herein are subject to the Life Insurance Policy’s suicide and contestability clauses and other such clauses, and if such clauses preclude the Insurer from paying the full death proceeds, then, in such event, no death benefits of whatever nature shall be payable to Insured’s (or Insured’s Assignee’s) beneficiary(ies) under this Agreement.

Appears in 5 contracts

Samples: Split Dollar Agreement (Bank Holdings), Split Dollar Agreement (Bank Holdings), Dollar Agreement (Bank Holdings)

AutoNDA by SimpleDocs

EFFECT OF THE LIFE INSURANCE POLICY’S CONTESTABILITY CLAUSES. Notwithstanding anything to the contrary, the The parties herein understand and agree that the payment of the benefits provided herein are subject to the Life Insurance Policy’s Policy’s(ies’) suicide and contestability clauses and other such clauses, and if such clauses preclude the Insurer from paying the full death proceeds, then, in such event, no death benefits of whatever nature shall be payable to Insured’s (or Insured’s Assignee’sAssignees) beneficiary(iesBeneficiary(ies) under this Agreement.

Appears in 1 contract

Samples: Split Dollar Agreement (California BanCorp)

EFFECT OF THE LIFE INSURANCE POLICY’S CONTESTABILITY CLAUSES. Notwithstanding anything to the contrary, the The parties herein understand and agree that the payment of the benefits provided herein are subject to the Life Insurance Policy’s (Policies’) suicide and contestability clauses and other such clauses, and if such clauses preclude the Insurer from paying the full death proceeds, then, in such event, no death benefits of whatever nature shall be payable to Insured’s (or Insured’s Assigneeassignee’s) beneficiary(iesBeneficiary(ies) under this Agreement. 17.

Appears in 1 contract

Samples: Dollar Agreement (Heritage Financial Corp /Wa/)

AutoNDA by SimpleDocs

EFFECT OF THE LIFE INSURANCE POLICY’S CONTESTABILITY CLAUSES. Notwithstanding anything to the contrary, the The parties herein understand and agree that the payment of the benefits provided herein are subject to the Life Insurance Policy’s (Policies’) suicide and contestability clauses and other such clauses, and if such clauses preclude the Insurer from paying the full death proceeds, then, in such event, no death benefits of whatever nature shall be payable to Insured’s (or Insured’s Assigneeassignee’s) beneficiary(iesBeneficiary(ies) under this Agreement.

Appears in 1 contract

Samples: Split Dollar Agreement (Heritage Financial Corp /Wa/)

Time is Money Join Law Insider Premium to draft better contracts faster.