Common use of With Regard to Life Insurance Policies Clause in Contracts

With Regard to Life Insurance Policies. With regard to any life insurance held hereunder, the Settlor reserves the following rights: A. To sell, assign or hypothecate the policies owned by the Settlor and held hereunder. B. To exercise any option or privilege granted by any of the policies owned by the Settlor including the right to change any beneficiary of any policy, to borrow any sum in accordance with the provisions of any of said policies, and to receive all payments, dividends, surrender values, benefits or privileges of any kind which may accrue on account of said policies during the Settlor's lifetime. C. To direct the Trustee to deliver to or upon the order of the Settlor or the Settlor's written request any policy held hereunder. D. The Trustee as beneficiary of said policies shall join in the execution of any assignments thereof upon written request of the Settlor.

With Regard to Life Insurance Policies. With regard to any life insurance held hereunder, the Settlor reserves the following rights: A. (a) To sell, assign or hypothecate the policies owned by the Settlor and held hereunder. B. (b) To exercise any option or privilege granted by any of the policies owned by the Settlor including the right to change any beneficiary of any policy, to borrow any sum in accordance with the provisions of any of said policies, and to receive all payments, dividends, surrender values, benefits or privileges of any kind which may accrue on account of said policies during the Settlor's lifetime. C. (c) To direct the Trustee to deliver to or upon the order of the Settlor or the Settlor's written request any policy held hereunder. D. (d) The Trustee as beneficiary of said policies shall join in the execution of any assignments thereof upon written request of the Settlor.