Common use of Optional Life Clause in Contracts

Optional Life. Optional life insurance allows you to choose additional coverage for yourself and your spouse. Check the benefit summary for the amount of optional life insurance available. When you apply for optional life insurance, you must provide proof of your insurability, and your application must be approved by the insurance company. If you, or your spouse, die within two (2) years after applying for optional life insurance, the insurance company has the right to verify any medical information you or your spouse provided. If any inconsistencies are discovered, the claim will be denied and any premiums paid will be refunded. You may name a beneficiary for your optional life insurance and change that beneficiary at any time by completing a form available from your Employer. On your death, the insurance company will pay your life insurance to your beneficiary. If your spouse dies you will be paid the amount for which he or she was insured. Your Employer will explain the claim requirements. • If you are approved for waiver of premium on your basic life insurance, any optional life insurance for yourself or your spouse will also continue without premium payment as long as your basic life insurance continues but not beyond the date your optional insurance would otherwise terminate. • If you or your spouse’s optional life insurance terminates, you or your spouse may be eligible to apply for an individual conversion policy without providing proof of insurability. You must apply and pay the first premium no later than thirty-one (31) days after your group insurance terminates. See your Employer for details. • Your optional life insurance terminates when you reach age sixty-five (65). Your spouse’s coverage terminates at the same time, or when he or she reaches age sixty-five (65) or is no longer your spouse, whichever comes first.

Optional Life. Optional life insurance Life Insurance allows you to choose additional coverage for yourself and your spouseSpouse. Check the benefit summary Benefit Summary for the amount of optional life insurance Optional Life Insurance available. When you apply for optional life insuranceOptional Life Insurance, you must provide proof of your insurability, and your application must be approved by the insurance company. If you, you or your spouse, spouse die within two (2) years after applying for optional life insuranceOptional Life Insurance, the The insurance company has the right to verify any medical information you or your spouse provided. If any inconsistencies are discovered, the claim will be denied and any premiums paid will be refunded. You may name a beneficiary for your optional life insurance and change that beneficiary at any time by completing a form available from your Employer. On your death, the The insurance company will pay your life insurance to your beneficiary. If your spouse dies you will be paid the amount for which he or she was insured. Your Employer will explain the claim requirements. • If you are approved for waiver of premium on your basic life insurance, any optional life insurance for yourself or your spouse will also continue without premium payment as long as your basic life insurance continues but not beyond the date your optional insurance would otherwise terminate. • If you your or your spouse’s optional life insurance terminates, you or your spouse may be eligible to apply for an individual conversion policy without providing proof of insurability. You must apply and pay the first premium no later than thirty-one (31) days after your group insurance terminates. See your Employer for details. • Your optional life insurance terminates when you reach age sixty-five (65). Your spouse’s coverage terminates at the same time, or when he or she reaches age sixty-five (65) 65 or is no longer your spouse, whichever comes first. No benefit is paid for a suicide within the first two (2) years of initial or increased optional life coverage. In such a situation, The insurance company refunds the premiums that have been received.