Net Death Proceeds definition

Net Death Proceeds means the total death proceeds of the Policy minus the cash surrender value.

Net Death Proceeds means the total death proceeds of the Participant’s Policy or Policies minus the greater of (i) cash surrender value or (ii) the aggregate premiums paid.

Net Death Proceeds means the death proceeds of the Policy, in the aggregate amount as provided in the attached endorsements.

Examples of Net Death Proceeds in a sentence

• In no event shall the death benefit hereunder exceed the Net Death Proceeds of the Policy.

• In no event shall the death benefit exceed the Net Death Proceeds of the Policy.

• If the Director dies prior to Separation from Service, the Beneficiary shall be entitled to a benefit equal to One Hundred Thousand Dollars ($100,000), provided that such benefit shall not exceed the Net Death Proceeds.

• If, pursuant to Article 3, the Director has a Vested Insurance Benefit at the date of death, the Director’s Beneficiary shall be entitled to a benefit equal to one Hundred Thousand Dollars ($100,000), provided that such amount shall not exceed the Net Death Proceeds.

• Notwithstanding anything to the contrary in this Agreement, any benefit payable under this Agreement shall not exceed the Net Death Proceeds of the Policy.

More Definitions of Net Death Proceeds

Net Death Proceeds means the total death proceeds of the Policy minus the cash surrender value. 1.6 “Policy” means the specific life insurance policy or policies issued by the Insurer. 1.7 “Salary Continuation Agreement” means the Salary Continuation Agreement between the Bank and the Executive, as the same may hereafter be amended. 1.8 “Split Dollar Policy Endorsement” means the form required by the Administrator or the Insurer to indicate the Executive’s interest, if any, in a Policy on the Executive’s life.

Net Death Proceeds means the total death proceeds of the Policy minus the greater of (i) the Policy's cash surrender value or (ii) the aggregate premiums paid on the Policy by the Employer.

Net Death Proceeds means the amount of total death proceeds that exceeds cash surrender value for any bank-owned life insurance policy on the Director's life for which the Company is owner and beneficiary. Any such policy shall be a general asset of the Company, and neither the Director nor his/her beneficiaries shall have any preferred or secured claim to such policy.

Net Death Proceeds means an amount equal to the Death Proceeds minus the cash surrender value of the Policy on the date of the Insured's death.

Net Death Proceeds means the total death proceeds of a Participant’s Policies minus the greater of (i) the Policies’ cash surrender value or (ii) the aggregate premiums paid by the Bank on the Policies.

Net Death Proceeds means the total death proceeds of the Policy minus the cash surrender value, after giving effect to the Executive’s death proceeds received under the Bank’s Executive Supplemental Insurance Plan effective March 24, 2004.

Net Death Proceeds means the death proceeds of the Policy, in the aggregate amount as provided in the attachment endorsements.