SUCCESSION OF BENEFICIARIES. You may designate one or more beneficiaries to receive the Death Proceeds. You will classify each beneficiary as primary or contingent. Upon the Insured's death, we will pay the Death Proceeds to the beneficiaries of the Insured as follows: 1) Proceeds will be paid to the primary beneficiaries who are then alive. 2) If no primary beneficiaries are living, proceeds will be paid to the surviving contingent beneficiaries.
Appears in 2 contracts
Samples: Flexible Premium Variable Life Insurance (Thrivent Variable Life Account 1), Flexible Premium Variable Life Insurance (Thrivent Variable Life Account 1)
SUCCESSION OF BENEFICIARIES. You may designate one or more beneficiaries to receive the Death Proceeds. You will classify each beneficiary as primary or contingent. Upon the Insured's death, we will pay the Death Proceeds to the beneficiaries of the Insured as follows:
1) Proceeds will be paid to the primary beneficiaries who are then alive.
2) survive the Insured. If no primary beneficiaries are livingnone survive, proceeds the Proceeds will be paid to the surviving contingent beneficiaries. In the event no beneficiary survives the Insured, proceeds will be paid to the Insured's estate. Other designations or successions of beneficiaries may be arranged with us.
Appears in 2 contracts
Samples: Variable Life Insurance Contract (Lbvip Variable Insurance Account), Variable Life Insurance Contract (Lb Variable Insurance Account I)
SUCCESSION OF BENEFICIARIES. You may designate one or more beneficiaries to receive the Death Proceeds. You will classify each beneficiary as primary or contingent. Upon the Insured's death, we will pay the Death Proceeds to the beneficiaries of the Insured as follows:
1) Proceeds will be paid to the primary beneficiaries who are then alive.
2) If no primary beneficiaries are living, proceeds will be paid to the surviving contingent beneficiaries.
Appears in 1 contract
Samples: Variable Life Insurance Contract (Lbvip Variable Insurance Account)
