Primary Beneficiary(ies) Sample Clauses
The Primary Beneficiary(ies) clause identifies the individual(s) or entity(ies) who are first in line to receive the benefits or proceeds under a contract, such as a life insurance policy or a trust. This clause specifies exactly who will receive the designated assets or payments upon the occurrence of a triggering event, like the policyholder's death. By clearly naming the primary beneficiary(ies), the clause ensures that the intended parties receive the benefits without ambiguity, thereby preventing disputes and streamlining the distribution process.
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Primary Beneficiary(ies). Check box(es) and complete percentage. If you have checked Box 3, complete the additional information requested.
1. To my Spouse at time of death or, if none, the Alternate Beneficiary(ies) designated in Section B.
2. To my Children who survive me, in equal shares, or all to the one who survives me provided that, if any such child predeceases me leaving any descendants who survive me, such descendants shall receive, per stirpes, the share such deceased child would have received if surviving.
Primary Beneficiary(ies). You may designate anyone you wish, subject to spousal consent requirement. (check one)
Primary Beneficiary(ies). I hereby designate the following person as my primary Beneficiary under the Plan, reserving the right to change or revoke this designation at any time prior to my death: % % % Total=100%
Primary Beneficiary(ies). In equal shares to those of the following beneficiary(ies) who are living or in existence at the Executive's death:
Primary Beneficiary(ies). Check box(es) and complete percentage. If you have checked Box 3, complete the additional information requested.
1. ¨ % To my Spouse at time of death or, if none, the Alternate Beneficiary(ies) designated in Section B.
2. ¨ % To my Children who survive me, in equal shares, or all to the one who survives me provided that, if any such child predeceases me leaving any descendants who survive me, such descendants shall receive, per stirpes, the share such deceased child would have received if surviving.
3. ¨ % To my other Primary Beneficiary(ies) who survive me* in the indicated percentages: % % % % % Total 100 % 4. ¨ % To my Estate TOTAL 100 %