PAYMENT OF POLICY BENEFITS. 12.1 PAYMENT OF PROCEEDS Death proceeds will be paid under the payment plan that takes effect on the date of death of the Insured. The Interest Income Plan (Option A) will be in effect if no patient plan has been elected. Interest will accumulate from the date of death until a payment plan is elected or the proceeds are withdrawn in cash. Surrender proceeds will be paid in cash or under a payment plan that is elected.
Appears in 4 contracts
Samples: Northwestern Mutual Variable Life Account, Northwestern Mutual Variable Life Account, Northwestern Mutual Variable Life Account
PAYMENT OF POLICY BENEFITS. 12.1 PAYMENT OF PROCEEDS Death proceeds will be paid under the payment plan that takes effect on the date of death of the Insured. The Interest Income Plan (Option A) will be in effect if no patient payment plan has been elected. Interest will accumulate from the date of death until a payment plan is elected or the proceeds are withdrawn in cash. Surrender proceeds will be paid in cash or under a payment plan that is elected.
Appears in 2 contracts
Samples: Agreement (Aerosonic Corp /De/), Agreement (Aerosonic Corp /De/)
PAYMENT OF POLICY BENEFITS. 12.1 PAYMENT OF PROCEEDS Death proceeds will be paid under the payment plan that takes effect on the date of death of the Insured. The Interest interest Income Plan (Option A) will be in effect if no patient payment plan has been elected. Interest will accumulate from the date of death until a payment plan is elected or the proceeds are withdrawn in cash. Surrender proceeds will be paid in cash or under a payment plan that is elected.
Appears in 1 contract
Samples: Agreement (Aerosonic Corp /De/)
