Common use of Complete Discharge Clause in Contracts

Complete Discharge. We will not be bound to take notice or be affected by any notice of any trust, charge, lien, assignment (unless assigned by the policyholder) or other dealing with or relating to this Policy except in case of assignment of the Benefit under Accidental Death in respect of an Insured Person where the Policyholder is a creditor of the Insured Person. The payment made by Us to the Insured Person or to their Nominee/ legal representative or to the valid assignee, as the case may be, of the compensation or Benefit under the Policy shall in all cases be complete, valid and construe as an effectual discharge in favour of Us.

Appears in 2 contracts

Sources: Lifestyle Protection Group Policy, Policy Contract

Complete Discharge. We will not be bound to take notice or be affected by any notice of any trust, charge, lien, assignment (unless assigned by the policyholder) or other dealing with or relating to this Policy except in case of assignment of the Benefit under Accidental Death in respect of an Insured Person where the Policyholder is a creditor of the Insured Person. The payment made by Us to the Insured Person or to their Nominee/ legal representative or to the valid assignee, as the case may be, of the compensation or Benefit under the Policy shall in all cases be complete, valid and construe as an effectual discharge in favour of Us.

Appears in 1 contract

Sources: Group Personal Accident Insurance Policy