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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.", "title": "Policy Proceeds", "size": 38, "id": "policy-proceeds", "examples": ["Amounts held in the Insurance <strong>Policy Proceeds</strong> Account shall be held uninvested.", "The <strong>Policy Proceeds</strong> will be paid as they become due upon the death of the Insured.", "If the <strong>Policy Proceeds</strong> become payable by Us during the Grace Period, they will be reduced by any overdue deductions.", "Under certain circumstances, the <strong>Policy Proceeds</strong> may be adjusted (see &quot;Incontestability&quot;, &quot;Misstatement of Age or Sex&quot;, and &quot;Suicide&quot; in Section 4 and &quot;Grace Period&quot; in Section 9).", "A Beneficiary is any person or entity, named in Our records as the proper recipient of the <strong>Policy Proceeds</strong>.", "If a Beneficiary is alive at that time, the Beneficiary will be entitled to payment of the <strong>Policy Proceeds</strong> as they become due.", "If You are also the Insured, the <strong>Policy Proceeds</strong> will be paid to Your estate.", "If the <strong>Policy Proceeds</strong> become payable by Us during the Grace Period, then any overdue Monthly Cost of Insurance and Monthly Expense Charge will be deducted from the amount payable by Us. SPLITTING UNITS.", "The <strong>Policy Proceeds</strong> will be paid as they become due upon the death of the Insured prior to Maturity, in accordance with Section 8.", "The remainder of the <strong>Policy Proceeds</strong> will be paid to the Corporation."], "related": [["casualty-proceeds", "Casualty Proceeds", "Casualty Proceeds"], ["equity-proceeds", "Equity Proceeds", "Equity Proceeds"], ["loss-proceeds", "Loss Proceeds", "Loss Proceeds"], ["insurance-proceeds", "Insurance Proceeds", "Insurance Proceeds"], ["condemnation-proceeds", "Condemnation Proceeds", "Condemnation Proceeds"]], "related_snippets": [], "updated": "2025-07-07T00:16:55+00:00"}, "json": true, "cursor": ""}}