Common use of Further Payees Clause in Contracts

Further Payees. At the death of all direct and contingent beneficiaries, the present value of any unpaid payments under a payment plan, will be paid in one sum: • in equal shares to the further payees who survive and receive payment; or • if no further payees survive and receive payment, to the estate of the last to die of all beneficiaries. RR.V.B.BK.(0805) 21

Further Payees. At the death of all of the direct and contingent beneficiaries, the proceeds, or the present value of any unpaid payments under a payment plan, will be paid in one sum: • in equal shares to the further payees who survive and receive payment; or • if no further payees survive and receive payment, to the estate of the last to die of all beneficiaries. RR.V.B.BK.(0805) 21:

Further Payees. At the death of all direct and contingent of the beneficiaries, the proceeds, or the present value of any unpaid un paid payments under a payment plan, will be paid in one sum: • in equal shares to the further payees who survive and receive payment; or • if no further payees survive and receive payment, to the estate of the last to die of all beneficiaries. RR.V.B.BK.(0805) 21: