Life Insurance Obligations Sample Clauses

Life Insurance Obligations. So long as one or more of the Children are unemancipated, each of the Parties shall maintain in full force and effect a life insurance policy or policies on his or her life with total death benefits of [$____________], the proceeds of which shall be payable to (a) the other Party or (b) at the election of the insured Party, a trust for the benefit of the other Party and the Children (the “Insurance Trust”). The Parties shall agree on the trustees and the terms of the Insurance Trust, such agreement not to be unreasonably withheld, conditioned, or delayed. [Optional: For purposes of this provision of the Agreement, _____________ and _____________ are acceptable as trustees if they are willing to serve in that capacity.]
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Related to Life Insurance Obligations

  • Insurance Obligations Borrower fails to promptly perform or comply with any of the covenants contained in the Loan Documents with respect to maintaining insurance, including the covenants contained in Section 4.4.

  • Insurance Obligation During the Term of this Master Contract, Contractor shall possess and maintain in full force and effect, at Contractor’s sole expense, the following insurance coverages:

  • Policy Obligations Contractor’s indemnity and other obligations shall not be limited by the foregoing insurance requirements.

  • Term Life Insurance The Employer will maintain and make available to full-time and part-time employees, the current term life insurance plan as set forth in the document "Summary of Health Benefits, Maryland State Employees."

  • Life Insurance No portion of your IRA may be invested in life insurance contracts.

  • INSURANCE AND PENSION In accordance with RCW 41.80.010(7), the insurance and pension conditions for all members of the bargaining unit will be as follows.

  • Maintenance Obligations In the event the Project includes construction then the following provisions are incorporated into this Agreement:

  • Life Insurance and Accidental Death and Dismemberment The Board shall provide without cost to the employee’s life insurance and accidental death and dismemberment insurance in the amount of $35,000.

  • Life Insurance Benefits A. During the life of this Agreement, the basic life insurance benefit made available to Faculty members shall be calculated as 3 times base annual earnings, rounded to the next highest $1,000, but not more than $225,000. A separate additional benefit up to the amount of the life insurance will be paid for accidental death and dismemberment, or loss of sight. The amount of Life and Accidental Death and Dismemberment/Loss of Sight benefits will be reduced to 65% at age 65, and further reduced (from the original insurance amount) as follows: to 50% at age 70, and 35% at age 75. Basic life insurance and AD&D benefits will be provided with no employee contributions.

  • Dependent Life Insurance In the event of the death of your spouse or dependent child from any cause whatsoever, while you and your dependents are insured under the plan, the insurance company will pay you $10,000 in respect of your spouse and $5,000 in respect of each insured dependent child. This applies to those employees with family health coverage only.

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