Common use of SUCCESSION IN INTEREST OF BENEFICIARIES Clause in Contracts

SUCCESSION IN INTEREST OF BENEFICIARIES. DIRECT BENEFICIARIES. The proceeds of this policy will be payable in equal shares to the direct beneficiaries who survive and receive payment. If a direct beneficiary dies before receiving all or part of the direct beneficiary's full share, the unpaid portion will be payable in equal shares to the other direct beneficiaries who survive and receive payment. CONTINGENT BENEFICIARIES. At the death of all of the direct beneficiaries, the proceeds will be payable in equal shares to the contingent beneficiaries who survive and receive payment. If a contingent beneficiary dies before receiving all or part of the contingent's full share, the unpaid portion will be payable in equal shares to the other contingent beneficiaries who survive and receive payment.

SUCCESSION IN INTEREST OF BENEFICIARIES. DIRECT BENEFICIARIES. The proceeds of this policy will be payable in equal shares to the direct beneficiaries who survive and receive payment. If a direct beneficiary dies before receiving he receives all or part of the direct beneficiary's his full share, the unpaid portion part of this share will be payable in equal shares to the other direct beneficiaries who survive and receive payment. CONTINGENT BENEFICIARIES. At the death of all of the direct beneficiaries, the proceeds proceeds, or the present value of any unpaid payments under a payment plan, will be payable in equal shares to the contingent beneficiaries who survive and receive payment. If a contingent beneficiary dies before receiving he receives all or part of the contingent's his full share, the unpaid portion part of his share will be payable in equal shares to the other contingent beneficiaries who survive and receive payment.

SUCCESSION IN INTEREST OF BENEFICIARIES. DIRECT BENEFICIARIES. The proceeds of this policy will be payable in equal shares to the direct beneficiaries who survive and receive payment. If a direct beneficiary dies before receiving he receives all or part of the direct beneficiary's his full share, the unpaid portion part of his share will be payable in equal shares to the other direct beneficiaries who survive and receive payment. CONTINGENT BENEFICIARIES. At the death of all of the direct beneficiaries, the proceeds proceeds, or the present value of any unpaid payments under a payment plan, will be payable in equal shares to the contingent beneficiaries who survive and receive payment. If a contingent beneficiary dies before receiving he receives all or part of the contingent's his full share, the unpaid portion part of his share will be payable in equal shares to the other contingent beneficiaries who survive and receive payment.