Common use of Survivor Benefit Clause in Contracts

Survivor Benefit. We will pay a benefit to a survivor (Survivor Benefit) if you die while Disability Benefits are payable under this policy. The amount of the Survivor Benefit will equal three times the Basic Monthly Benefit. There is no Benefit Waiting Period for the Survivor Benefit. While this policy is in force the Owner may designate a payee, or change a previously named payee, to receive the Survivor Benefit.