No Beneficiary Designation. If the Insured dies without a valid beneficiary designation on file with the Plan Administrator, or if all designated beneficiaries predecease the Insured, then the Insured’s surviving spouse shall be the designated beneficiary. If the Insured has no surviving spouse, the benefits shall be made payable to the Insured’s estate.
Appears in 8 contracts
Samples: Split Dollar Life Insurance Agreement (Prime Meridian Holding Co), Split Dollar Life Insurance Agreement (Prime Meridian Holding Co), Split Dollar Life Insurance Agreement (Prime Meridian Holding Co)
No Beneficiary Designation. If the Insured dies without a valid beneficiary designation on file with the Plan Administratorfile, or if all designated beneficiaries predecease the Insured, then the Insured’s surviving spouse shall be the designated beneficiary. If the Insured has no surviving spouse, the benefits shall be made payable to the personal representative of the Insured’s estate.
Appears in 6 contracts
Samples: Split Dollar Life Insurance Agreement (Century Bancorp Inc), Split Dollar Life Insurance Agreement (Century Bancorp Inc), Split Dollar Life Insurance Agreement (Century Bancorp Inc)
