Policy Proceeds definition
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
Amounts held in the Insurance Policy Proceeds Account shall be held uninvested.
The Policy Proceeds will be paid as they become due upon the death of the Insured.
If the Policy Proceeds become payable by Us during the Grace Period, they will be reduced by any overdue deductions.
Under certain circumstances, the Policy Proceeds may be adjusted (see "Incontestability", "Misstatement of Age or Sex", and "Suicide" in Section 4 and "Grace Period" in Section 9).
A Beneficiary is any person or entity, named in Our records as the proper recipient of the Policy Proceeds.
More Definitions of Policy Proceeds
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 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 means the amount of $2,000,000 from the Defendants’ insurance carrier, the Scottsdale Insurance Company; and the amount of
Policy Proceeds means any and all types of proceeds of, from or under the Policy, including without limitation, (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, (iii) any and all proceeds of any loans or advances on or against the Policy, and (iv) distributions or shares of surplus, dividends, deposits or additions to the Policy, now or hereafter made thereunder or apportioned thereto.
Policy Proceeds means the death benefits payable under the Policy, net of any outstanding policy loans or cash withdrawals.
Policy Proceeds. With respect to, and in accordance with the terms of any Policy, the proceeds that are paid by the Obligor upon the Maturity of such Policy, including but not limited to, any accrued dividends, paid up additions thereon and interest, and any Recoveries related to such Policy.
Policy Proceeds mean the insurance proceeds paid to the Grantor pursuant to the terms of one or more of the Policies for a Claim with respect to which a Beneficiary is entitled to indemnification according to the terms of this Agreement.