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PAYMENT OF DEATH PROCEEDS Sample Clauses

PAYMENT OF DEATH PROCEEDS. We will pay a death benefit upon receipt of a complete death benefit claim. A complete death benefit claim includes all of the following in Good Order:
Sample 1Sample 2
PAYMENT OF DEATH PROCEEDS. We will pay each beneficiary's portion of Death Proceeds as follows: 1) We will pay Death Proceeds within 7 days of the date we receive due proof of death. Due proof of death will consist of: a) A certified copy of the death certificate of the decedent, or other lawful evidence providing equivalent information; and b) Each claimant's completed claim form. 2) If we do not pay Death Proceeds within 7 days, we will pay interest beginning on the eighth day following receipt of due proof of death until we pay the Death Proceeds. Interest will be at the rate for Option 1 – Interest Income (see Section 13.2) that is in effect on the date that we receive due proof of death. 3) If we do not pay the Death Proceeds within 30 days of the latest of (a), (b), and (c) below, we will pay additional interest beginning on the 31st day from the latest of (a), (b), and (c) below until we pay the Death Proceeds. Additional interest will be at an annual rate of 10%. a) The date we receive due proof of death. b) The date we receive sufficient information to determine our liability, the extent of the liability, and the payee legally entitled to proceeds. c) The date that any legal impediments to payment of proceeds that are dependent upon action by parties other than us are resolved and we are provided with sufficient evidence of that resolution. Legal impediments include but are not limited to: i) The establishment of guardianships and conservatorships. ii) The appointment and qualification of trustees, executors, and administrators. iii) The submission of information required to satisfy state and federal reporting requirements. Beneficiaries may elect to receive Death Proceeds in a lump sum or according to Section 13 Settlement Provisions. Xxxx sums are paid immediately upon receiving a beneficiary's election in good order. In all events, lump sums will be distributed within 5 years after the date of death.
Sample 1

Related to PAYMENT OF DEATH PROCEEDS

  • PAYMENT OF DEATH BENEFIT The Company will require due proof of death before any death benefit is paid. Due proof of death will be:

  • DIVISION OF DEATH PROCEEDS Subject to Paragraph VII herein, the division of the death proceeds of the Policy is as follows: 1. The Insured's beneficiary(ies), designated in accordance with Paragraph III, shall be entitled to an amount equal to eighty percent (80%) of the net at risk insurance portion of the proceeds. The net at risk insurance portion is the total proceeds less the cash value of the Policy. 2. The Bank shall be entitled to the remainder of such proceeds. 3. The Bank and the Insured (or beneficiary[ies] or assignee[s]) shall share in any interest due on the death proceeds on a pro rata basis in the ratio that the proceeds due the Bank and the Insured, respectively, bears to the total proceeds, excluding any such interest.

  • Payment of GST Payment of the additional amount will be made at the same time as payment for the supply is required to be made under this Contract.

  • Payment of Dues Blue Shield of California offers a variety of op- tions and methods by which you may pay your dues. Please call Customer Service at the tele- phone number indicated on your Identification Card to discuss these options. Dues payments by mail should be sent to: Blue Shield of California X.X. Xxx 00000 Xxx Xxxxxxx, XX 00000-0000 Additional dues may be charged in the event that a state or any other taxing authority im- poses upon Blue Shield a tax or license fee which is calculated upon base dues or Blue Shield's gross receipts or any portion of either. Benefits designed to cover cost-sharing amounts under Medicare will be changed auto- matically to coincide with any changes in the applicable Medicare-determined Deductible and coinsurance amounts. Dues may be modi- fied to correspond with such changes. Dues are determined based on age of the Sub- xxxxxxx, subject to the right reserved by Blue Shield to modify these dues with at least sixty (60) days notice as set forth in this Agreement.

  • PRE-PAYMENT The Tenant shall: (check one)

  • Payment Upon Death In the event of death of regular employees, the College will pay to their spouse, or if there is no spouse, to the estate of those deceased, one month's salary exclusive of any amount already earned by those deceased up to the date of which they last served.

  • Final Payment A. Upon final completion and acceptance of the Work in accordance with Paragraph 15.06 of the General Conditions, Owner shall pay the remainder of the Contract Price as recommended by Engineer as provided in said Paragraph 15.06.

  • Group Life and Accidental Death and Dismemberment (a) The Employer will pay 100% of the premiums for the group life and accidental death and dismemberment insurance plans. (b) The plan will provide basic life insurance in the amount of $50,000 and standard 24 hour accidental death and dismemberment insurance until age 65. At the age of 65 the amount of coverage will decrease to $25,000 until the age of 70, at which time the group insurance coverage will cease. Employees may purchase additional insurance provided this option is available by the carrier. The Employer will deduct the appropriate amount from the employee's pay for this option. (c) On termination of employment (excluding retirement) coverage for group life will continue without premium payment for a period of 31 days during which time the conversion privilege may be exercised; that is, the individual covered may convert all or part of their group life insurance into any whole life, endowment or term life policy normally issued by the insurer and the insurer's standard rates at the time, without medical evidence. (d) Employees will be entitled to advance payment of Group Life Benefits in accordance with Memorandum of Agreement #7 (Re: Advance Payment of Group Life Benefits).

  • Basic Life and Accidental Death and Dismemberment Coverage The Employer agrees to provide and pay for the following term life coverage and accidental death and dismemberment coverage for all employees eligible for an Employer Contribution, as described in Section 3. Any premium paid by the State in excess of fifty thousand dollars ($50,000) coverage is subject to a tax liability in accord with Internal Revenue Service regulations. An employee may decline coverage in excess of fifty thousand dollars ($50,000) by filing a waiver in accord with Minnesota Management & Budget procedures. The basic life insurance policy will include an accelerated benefits agreement providing for payment of benefits prior to death if the insured has a terminal condition. $10,000 - $15,000 $15,000 $15,000 $15,001 - $20,000 $20,000 $20,000 $20,001 - $25,000 $25,000 $25,000 $25,001 - $30,000 $30,000 $30,000 $30,001 - $35,000 $35,000 $35,000 $35,001 - $40,000 $40,000 $40,000 $40,001 - $45,000 $45,000 $45,000 $45,001 - $50,000 $50,000 $50,000 $50,001 - $55,000 $55,000 $55,000 $55,001 - $60,000 $60,000 $60,000 $60,001 - $65,000 $65,000 $65,000 $65,001 - $70,000 $70,000 $70,000 $70,001 - $75,000 $75,000 $75,000 $75,001 - $80,000 $80,000 $80,000 $80,001 - $85,000 $85,000 $85,000 $85,001 - $90,000 $90,000 $90,000 Over $90,000 $95,000 $95,000

  • Payment of Benefit The Company shall pay the annual benefit to the Executive in 12 equal monthly installments commencing with the month following the Executive’s Normal Retirement Date, paying the annual benefit to the Executive for a period of 15 years.

Most Referenced Clauses

Most Referenced Definitions