Common use of Educational Benefit Clause in Contracts

Educational Benefit. If indemnity becomes payable for the accidental loss of life of an Insured Member, who, at the date of the accident, had also insured their Spouse and Dependent Child(ren) under the policy, the Carrier shall: 1. Pay the lesser of the following amounts to or on behalf of any Dependent Child who, at the date of accident, was enrolled as a full- time student in any institution of higher learning beyond the l2th grade level: i. The actual annual tuition, exclusive of room and board, charged by such institution per school year. ii. $5,000.00 per school year.