Policy Proceeds. The amount determined in accordance with the terms of this Policy which is payable at the death of the Insured. This amount is the Death Benefit as described in Section 7, decreased by the amount of any outstanding Policy Debt, and increased by the amounts payable under any supplemental benefits. Policy Year: A one-year period commencing on the Issue Date or any Anniversary and ending on the next Anniversary.
Policy Proceeds means the aggregate amount payable by the Insurer pursuant to the Policy to the Participant’s Beneficiary and the Company upon the death of the Participant.
Policy Proceeds means the proceeds paid by Underwriter on a Purchased Receivable submitted for payment under the Policy.
Examples of Policy Proceeds in a sentence
NYLIAC can delay payment of the entire Policy Proceeds if payment is contested.
Upon the death of a Participant, the Employer with the cooperation of the Beneficiary, shall promptly take all action necessary to initiate payment by the Insurer of the Policy Proceeds.
Deferment of Benefits Delay of Payment of Policy Proceeds and Other Transactions Delay of Separate Account Payments and Transactions.
The Policy Proceeds are calculated as described in the prospectus.
Any interest payable by the Insurer with respect to a Beneficiary's share of the Policy Proceeds shall be paid to the Beneficiary and any interest payable by the Insurer with respect to the Employer's share of the Policy Proceeds shall be paid to the Employer.
More Definitions of Policy Proceeds
Policy Proceeds means any and all proceeds of any type of, from or under the Policy, including (i) the cash surrender value of the Policy, (ii) any and all proceeds of the Policy payable when it becomes a claim at death, maturity or otherwise, and (iii) distributions or shares of surplus, dividends, deposits or additions to the Policy, now or hereafter made thereunder or apportioned thereto.
Policy Proceeds. The amount determined in accordance with the terms of the Policy which is payable at the death of the Insured prior to Maturity. This amount is the Death Benefit as described in Section 8, decreased by the amount of any outstanding Policy Debt, and increased by the amounts payable under any supplemental benefits.
Policy Proceeds. The amount determined in accordance with the terms of the Policy which is payable at the death of the Insured. This amount is the death benefit as described in Section 8, decreased by the amount of any outstanding Policy Debt and increased by any amounts payable under any supplemental benefits.
Policy Proceeds means the amount of $2,000,000 from the Defendants’ insurance carrier, the Scottsdale Insurance Company; and the amount of
Policy Proceeds means all benefits of a Policy (including for any Matured Policy) including but not limited to the right to any death benefits, any return of premiums, any interest accrued in relation to any amounts payable by the applicable Insurer and any other proceeds or other benefits of any nature associated with such Policy.
Policy Proceeds means the death benefits payable under the Policy, net of any outstanding policy loans or cash withdrawals.
Policy Proceeds means the death benefits payable under the life insurance policy purchased by Xxxxx on the life of the Executive pursuant to the Split Dollar Life Insurance Agreement between Executive and Xxxxx executed on even date herewith, net of any outstanding policy loans or cash withdrawals.