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.
Appears in 6 contracts
Samples: Variable Whole Life Policy (Aerosonic Corp /De/), Variable Whole Life Policy (Northwestern Mutual Variable Life Account), Variable Whole Life Insurance Policy (Northwestern Mutual Variable Life Account)
SUCCESSION IN INTEREST OF BENEFICIARIES. Direct BeneficiariesDIRECT 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.
Appears in 1 contract
Samples: Single Premium Variable Whole Life Policy (Northwestern Mutual Variable Life Account)
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.
Appears in 1 contract
Samples: Variable Whole Life Insurance Policy (Northwestern Mutual Variable Life Account)
