Common use of NAMING AND CHANGING OF BENEFICIARIES OF THE LIFE INSURANCE BENEFIT Clause in Contracts

NAMING AND CHANGING OF BENEFICIARIES OF THE LIFE INSURANCE BENEFIT. The term “Beneficiaries” refers to the direct beneficiaries, contingent beneficiaries and further payees of the Life Insurance Benefit as designated by the Owner. The Owner may name and change the Beneficiaries of the Life Insurance Benefit, while the Insured is living, by submitting a request to the Home Office that is acceptable to the Company. If acceptable, the request will take effect on the earlier of the date that it was received by the Home Office or the date signed by the Owner. The Company is not responsible for any payment or other action that is taken by it before it receives the request at the Home Office.

NAMING AND CHANGING OF BENEFICIARIES OF THE LIFE INSURANCE BENEFIT. The term “Beneficiaries” refers to the direct beneficiaries, contingent beneficiaries and further payees of the Life Insurance Benefit as designated by the Owner. The Owner may name and change the Beneficiaries of the Life Insurance Benefit, while the Insured is living, by submitting a request to the Home Office in a form that is acceptable to the Company. If acceptable, the request will take effect on the earlier of the date that it was received by the Home Office or the date signed by the Owner. The Company is not responsible for any payment or other action that is taken by it before it receives the request at the Home Office.