Settlement Options Clause Samples
The Settlement Options clause defines the methods by which parties can resolve outstanding obligations or claims, typically after a triggering event such as a default or contract termination. This clause may outline choices such as lump-sum payments, installment plans, or the transfer of assets to satisfy debts or liabilities. By specifying these alternatives, the clause provides flexibility and clarity in how settlements are handled, helping to prevent disputes and ensuring that both parties understand their available options for concluding their contractual relationship.
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Settlement Options. 23 SCHEDULE Contract No.: Owner: Issue Date: Insured: Contract Date: Issue Age/Sex: Initial Purchase Payment $ Risk Class: Initial Insurance Amount: $ This Schedule sets forth additional information that relates to the provisions in this Contract with the corresponding headings. MAKING PURCHASE PAYMENTS Additional purchase payments may be made at any time and in any amount necessary to avoid termination of this Contract. Other additional purchase payments may be made at any time after the first Contract Anniversary, subject to the following conditions:
Settlement Options. The amount of any valid life insurance or accidental death and dismemberment insurance claim for death shall be paid in one sum or in a fixed number of monthly or yearly instalments for each $1,000.00 in accordance with the settlement options made available by the Insurer. In the event that provision for payment of such a claim by instalments has not been made by the employee prior to his/her death, then such provision may be designated by the beneficiary last named by the employee.
Settlement Options. 12 Option 1: Life Annuity ......................................................................................................... 12 Option 2: Life Annuity with Guaranteed Period .................................................................. 12 Option 3: Installment Refund Life Annuity .......................................................................... 12 Option 4: Joint and Last Survivor Annuity .......................................................................... 12 Option 5:
Settlement Options. A lump sum payment of any amount payable under one or several Life Insurance benefits provided under this policy, may, at the request of the Insured Employee or of the Beneficiary, be replaced by a method of payment mutually agreed upon by the Insured Employee or the Beneficiary and the Insurer such as a deposit bearing interest, guaranteed annuity, immediate or deferred life annuity.
Settlement Options. 14 Suicide................................2 Surrender..............................8
Settlement Options. Except as provided in Section 1.4.8 of this Appendix, the order may not require the Plan to provide any type or form of benefits or any option not otherwise provided under the Plan.
Settlement Options. Conditions Benefit Payments
Settlement Options. Payee Defined.--In these provisions and under the Automatic Mode of Settlement, the word Payee means a person who has a right to receive a settlement under the contract. Such a person may be the Insured, the owner, a beneficiary, or a contingent payee. Choosing an Option.--While the Insured is living you may choose, or change the choice of, an option for all or part of the proceeds that may arise from the Insured's death. The requirements are the same as those to designate or change a beneficiary. We describe them under Beneficiary. A payee may choose an option for all or part of any proceeds or residue that becomes payable to him or her in one sum. We describe residue later on this page. In some cases, you or another Payee will need our consent to choose an option. We describe these cases under conditions. Options Described.--Here are the options we offer. We may also consent to other arrangements.
Settlement Options. At our discretion, your loss will be settled at replacement cost value with no deduction for depreciation, less the deductible listed on your Policy Declarations page.
Settlement Options. Sylvan Union School District will pay for the cost of repair of the insured device to include parts and labor, minus any applicable deductible. If the device cannot be repaired, an equivalent replacement of Sylvan Union School District choosing will be provided. If a replacement device is provided, this coverage will transfer to the replacement device for the duration of the policy. While a student’s device is being repaired the student will be issued a loaner device of Sylvan Union School District choosing. The policy will cover the loaner device until the student’s original device is returned or a permanent replacement device is issued. Coverage may be denied if the student willfully defrauds, conceals, and/or misrepresents any material information about the cause of damage or loss of the device. ● Accidental damage, drop, liquid spills, and submersion ● Theft, burglary, robbery (requires official police report) ● Vandalism (requires official police report or school administrator incident report) ● Fire, flood, natural disaster ● Power surge ● Damaged or worn A/C Adapter (also referred to as the Power Charger) ● Mechanical failure or defect ● Dishonest and/or intentional acts, vandalism ● Tampering with or unauthorized attempts to repair the device. ● Unexplained loss or mysterious disappearance ● Loss or damage to accessories, software and data ● Corrosion and rust ● Cosmetic damage ● Government seizure