Facility of Payment definition

Facility of Payment. Subject to applicable law, we reserve the right, in settlement of full liability, to make payments to a guardian, conservator or other legal representative if a payee is legally incompetent.

Facility of Payment. If any Participant, contingent annuitant, or beneficiary is legally incapable of giving a valid receipt for any payment due him, and no guardian has been appointed, AUL may make such payment to the person or persons who have assumed the care and principal support of such Participant, contingent annuitant, or beneficiary. Also, AUL may make payment directly to any person or entity when directed to do so in writing by the Participant. Any payment made by AUL will fully discharge AUL to the extent of such payment.

Facility of Payment. If any Participant, contingent annuitant, or beneficiary is legally incapable of giving a valid receipt for any payment, if no guardian has been appointed, and if we receive a valid power of attorney for such Participant, contingent annuitant, or beneficiary, we may pay the person or persons named in such power of attorney. Any such payment fully discharges us to the extent of such payment.

Examples of Facility of Payment in a sentence

• Facility of Payment and Recovery - Whenever payments which should have been made under our coverage have been made under any other Plans, We shall have the right to pay over to any organizations that made such other payments, any amounts that are needed in order to satisfy the intent of this provision.

• If you are not living when your Dependent dies, the death benefit will be paid to your beneficiary or in accord with the Facility of Payment section of the Policy.

• If You do not name a new beneficiary, We will pay death benefits in accordance with the Facility of Payment provision.00015 CONVERSION OF LIFE INSURANCE How much Life Insurance may You convert if eligibility terminates?You may convert to an individual policy of life insurance if Your life insurance, or a portion of it, ceases because:1.

• Facility of Payment A payment made under another plan may include an amount that should have been paid under this plan.

• If You do not name a new beneficiary, we will pay death benefits according to the Facility of Payment provision.Is Conversion available after coverage under Portability ends?If coverage under Portability terminates according to (3) or (4) above, You may convert to an individual policy of whole life insurance in accordance with the terms of the Conversion provisions of the Policy.

• Facility of Payment A payment made under another plan may include an amount, which should have been paid under this Plan.

• Facility of Payment A payment made under another plan may include an amount that should have been paid under This Plan.

• Our notice to you will be similar in form to that described above.

• Seller’s Terms and Conditions, Order Acknowledgement and Invoice supersede any and all terms and conditions included with or referenced by Buyer’s purchase order.

• Ms. Gallagher stated that she has received and reviewed the Town’s comment letters and is able to discuss any of those issues.

More Definitions of Facility of Payment

Facility of Payment. If any Participant, contingent annuitant, or beneficiary is legally incapable of giving a valid receipt for any payment, if no guardian has been appointed, and if we receive a valid power of attorney for such Participant, contingent annuitant, or beneficiary, we may pay the person or XXX.XX [(SBR)] 19 persons named in such power of attorney. We may also pay you directly or as you otherwise instruct. Any such payment fully discharges us to the extent of such payment.

Facility of Payment. We reserve the right, in settlement of full liability, to make Insured Income Payments or Annuity Payments to a guardian, relative, or other person deemed eligible by us if a person(s) to whom we are making Income, Insured Income or Annuity Payments is deemed to be legally incompetent, as permitted by law. Incontestability: We will not contest this Contract. All statements in the Contract Owner’s application are representations, not warranties. Misstatement of Age or Sex: If there has been a misstatement of the age and/or sex of any person upon whose life any amounts we are obligated to determine in order to make any payment, including Insured Income Payments or Annuity Payments, we will adjust such amounts to conform to that for the correct age and/or sex. As to Annuity Payments and Insured Income Payments: (a) any underpayments by us will be remedied on the next payment following the correction with interest at a rate not less than that required by applicable law but not exceeding 6%; and (b) any overpayments by us will be charged against future amounts payable by us under your Contract. If there has been a misstatement of the age and/or sex of a person(s) upon whose life the Insured Income Payments or Annuity Payments under this Contract are based, we will make adjustments to any availability and any benefits payable under this Contract to conform to the facts. Non-Participation: This Contract does not share in our profits or surplus earnings. No dividends are payable. Premium Tax: Premium tax rates and rules vary by state and may change. We reserve the right to deduct any such tax from Annuity Payments or Insured Income Payments. Recovery of Excess Payments: We may recover from you or your estate any Insured Income Payments or Annuity Payments made after the death of the Annuitant or the last of the Annuitants that would have otherwise resulted in the termination of this Contract. Reports to you: Each contract year after the first, you will receive a report at least once annually.

Facility of Payment. Any installment or payment required to be made by the Company under this Agreement, to any person entitled to said payment, with the person being under a legal disability at the time, then said payment may be made in any of the following ways, by the Company, in its sole discretion. 1. Directly to the person. 2. To the legal representative of the person. 3. To some near relative of the person, said payment to be used for the latter's benefit. 4. Directly for the payment of expenses relating to the health, maintenance, support and education of the person. Any such payment by the Company shall be a discharge of the obligation to make said payment. The company shall not be liable for making the payment to any of the parties enumerated above.

Facility of Payment. If any Participant, contingent annuitant, or beneficiary is legally incapable of giving a valid receipt for any payment, and no guardian has been appointed, we may pay the P-K-TDAMFVA-GMDB(BR).17 person or persons who have assumed the care and principal support of such Participant, contingent annuitant, or beneficiary. We may also pay you directly or as you otherwise instruct. Any such payment fully discharges us to the extent of such payment.

Facility of Payment. Subject to applicable law, we reserve the right, in settlement of full liability, to make payments to a guardian, conservator or other legal representative if a payee is legally incompetent. P-CR/IND(2/10)-NY