The Life Assured. The Life Assured is the person who signs the application form and on whose life the insurance benefits under this Contract are granted and may be the same person as the Contract Owner who is the sole owner of this Contract. If the Regular Plan is issued on a joint life basis, all references to the Life Assured should be regarded as applying to both lives assured; provided that the benefits shown in the (T.B. and C.) are payable only once, on the first death or any other event covered under this Contract first happening to either of the two lives assured.
The Life Assured. The life assured is the person on whose life the insurance benefits under this Contract are granted and may be the same person as the Contract owner who is the sole owner of this Contract. If the Regular Plan is issued on a joint life basis, all references to the life assured should be regarded as applying to both lives assured; provided that the benefits shown in the (T.B. and C.) are payable only once, on the first death or any other event covered under this Contract first happening to either of the two lives assured. The Riders, if any, are always issued on a single life basis and all the references to the life assured are always referring to the first life assured shown in the (T.B. and C.).
