Thorough Search definition
Examples of Thorough Search in a sentence
At the conclusion of that one (1) year period, if (i) the Beneficiary cannot be located by a Thorough Search and (ii) the Company is unable to establish an Exception, it shall report and remit the death benefit proceeds as Unclaimed Property to the affected state(s) in accordance with the applicable Unclaimed Property Laws.
For the sole purpose of this Agreement, the Company, within the time period in Schedule B, shall implement policies and procedures establishing a DMF listing as prima facie proof of death and requiring the Company to initiate its death claims process and conduct a Thorough Search for Beneficiaries in accordance with Section 2(b) of this Agreement.
The Company shall not deduct or charge the Beneficiaries, either directly or indirectly through or by any person or company, for any fees or costs as part of the Thorough Search.
Subject to Schedule B, if the Company is not contacted by a Beneficiary within one hundred twenty (120) days of the Date of Death Notice, the Company shall promptly commence a Thorough Search, which shall be completed within one (1) year from the Date of Death Notice.
Paragraph 2.i. further requires the Company to perform a Thorough Search for the Owner if the notice letters are returned as undeliverable, disallows extending the Maturity Date in the absence of affirmative request by the Owner, and provides for the reporting and remitting as Unclaimed Property proceeds where the Owner cannot be located by Thorough Search or where annuity payments are not deposited within one year.
The Company shall conduct a Thorough Search for group life insurance policies, including group life insurance certificates issued thereunder, where a group life insurance claim is received for which the Company, from information in its administrative systems and/or the group policy claim form, is able to determine that a benefit is due and is able to determine the benefit amount, but the beneficiary cannot be identified and/or located.
Prudential shall implement policies and procedures for conducting a Thorough Search.
In the event that Prudential locates the Beneficiary following a Thorough Search, Prudential shall provide the appropriate claims forms or instructions, if required, to the Beneficiary to make a claim, including instructions as to the need to provide an official death certificate if consistent with law and the Policy, Annuity Contract, or Retained Asset Account.
The obligation to conduct a Thorough Search under the terms of this Agreement shall not abrogate the obligation of the Company to complete any due diligence within the timeframe required by any applicable law.
In any event, the Thorough Search shall be completed within one (1) year from the Date of Death Notice and subject to the provisions of Section 2(b).