Common use of Liability of Insurer Clause in Contracts

Liability of Insurer. No Insurer shall be a party to this Agreement. With respect to any Policy of insurance issued pursuant to this Agreement, the issuing Insurer shall have no liability except as set forth in the Policy. Such Insurer shall not be bound to inquire into or take notice of any of the covenants herein contained as to policies of life insurance, or as to the application of the proceeds of such policies. The Insurer shall be discharged from all liability in making payments of the proceeds and in permitting rights and privileges under a Policy to be exercised pursuant to the provisions of the Policy.