Common use of Further Payees Clause in Contracts

Further Payees. If no direct or contingent beneficiary survives and receives payment of the entire Life Insurance Benefit, then the remaining Life Insurance Benefit will be paid as a lump sum in equal shares to the further payees, if any, who survive and receive payment.

Further Payees. If no the direct or and contingent beneficiary survives beneficiaries do not survive and receives receive payment of the entire Life Insurance Benefit, then the remaining Life Insurance Benefit unpaid portion will be paid as a lump sum in one sum: • in equal shares shares, unless otherwise designated by the Owner, to the further payees, if any, payees who survive and receive payment; or • if no further payees survive and receive pay- ment of the Life Insurance Benefit, then to the estate of the last to die of all of the Benefi- ciaries.