Common use of FOR PAYMENT PLANS ELECTED BY OWNER Clause in Contracts

FOR PAYMENT PLANS ELECTED BY OWNER. If the Owner of the contract elected a payment plan, a direct beneficiary may name and change the contingent beneficiaries and further payees of the direct beneficiary’s share of the benefits only if: • the direct beneficiary was the Owner of the contract; or • no contingent beneficiary or further payee of that share is living.

FOR PAYMENT PLANS ELECTED BY OWNER. If the Owner of the contract elected a payment plan, a direct beneficiary may name and change the contingent beneficiaries and further payees of the direct beneficiary’s 's share of the benefits only if: • o the direct beneficiary was the Owner of the contract; or • o no contingent beneficiary or further payee of that share is living.

FOR PAYMENT PLANS ELECTED BY OWNER. If the Owner of the contract elected a payment plan, a direct beneficiary may name and change the contingent beneficiaries and further payees of the direct beneficiary’s 's share of the benefits only if: • - the direct beneficiary was the Owner of the contract; or • - no contingent beneficiary or further payee of that share is living.

FOR PAYMENT PLANS ELECTED BY OWNER. If the Owner of the contract Contract elected a payment plan, a direct beneficiary may name and change the contingent beneficiaries and further payees of the direct beneficiary’s share of the benefits only if: • the direct beneficiary was the Owner of the contractContract; or • no contingent beneficiary or further payee of that share is living.