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 death proceeds of the Policy, in the aggregate amount as provided in the attached endorsements.
Examples of Net Death Proceeds in a sentence
If the Employee dies prior to Separation from Service, the Beneficiary shall be entitled to the lesser of (i) One Hundred Thousand Dollars ($100,000) or (ii) the Net Death Proceeds.
More Definitions of Net Death Proceeds
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 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 amount of total death proceeds that exceeds cash surrender value for any bank-owned life insurance policy on the Executive's life for which the Company is owner and beneficiary. Any such policy shall be a general asset of the Company, and neither the Executive 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, with respect to a Participant, the total death proceeds payable pursuant to the Participant’s Policy minus the greater of (i) the cash surrender value of such Policy or (ii) the aggregate premiums paid by the Bank on such Policy.
Net Death Proceeds means an amount of One Hundred Thousand and No/100 Dollars ($100,000.00) from Policy number XXXXXXXX and an amount of Fifty Thousand and No/100 Dollars ($50,000.00) from Policy number XXXXXXXX.