Retained Death Benefit definition

Retained Death Benefit means a portion of the death benefit due under a Policy payable, pursuant to a contractual obligation to a prior owner or beneficiary of a Policy to the extent set forth in Schedules 1 of the applicable Confirmation.
Sample 1

Examples of Retained Death Benefit in a sentence

  • As of each Advance Date, all Pledged Policies that constitute Retained Death Benefit Policies are listed on Schedule 8.1(x) and, except as set forth on Schedule 8.1(x), the portion of the Net Death Benefit payable to any Person other than the Securities Intermediary does not exceed fifteen percent (15%) of the Net Death Benefit of any such Retained Death Benefit Policy.

  • As of the date of any Additional Policy Advance made pursuant to a Borrowing Request, all Pledged Policies that are to be funded from such Advance that constitute Retained Death Benefit Policies are listed on Schedule 8.1(w), which also indicates the percentage of the Net Death Benefit of each such Retained Death Benefit Policy that is payable to any Person other than the Securities Intermediary.

  • Pursuant to the Agreement, the Insurance Company will be served a copy of the Court's order requiring it to list the Receiver as a beneficiary entitled to the Retained Death Benefit.

  • The Agreement, as contemplated, relieves the receivership estate from the burden of escalating and cost prohibitive premiums, while maintaining the Policies and preserving a Retained Death Benefit in Policy No. 7253—valued from 2 million to 7 million depending on the date of maturity—for the benefit of creditors and investors over the next 9 years.2 This is extremely important because the Receivership Estate only has enough funds left to pay a few more months of premiums.

  • As of the Closing Date, all Pledged Policies that constitute Retained Death Benefit Policies are listed on Schedule 8.1(w).

  • Certificates of Deposit issued by a bank or trust company authorized to do business in New York State.

  • The Insurance Company shall be required to pay the Retained Death Benefit under Policy No. 7253 directly to the Receiver and the balance to the Purchaser.

  • No Collateral Assignment will be filed for the following Retained Death Benefit Policy: [*] [*] [*] 8/15/2008 [*] 10,000,000.00 14.00% 86.00% • Schedule 7.1(f) Policy Delivery Exception Policies [Attached] [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

  • Life Settlement Retained Death Benefit Life Settlement Retained Death Benefit Life Settlement Retained Death Benefit Premium Finance – Ratained Death Benefit • Schedule 8.1(m) Proceedings On April 18, 2013, Sun Life Assurance Company of Canada (“Sun Life”) filed a complaint against Emergent Capital, Inc., f/k/a Imperial Holdings, Inc.

  • As of each Advance Date, all Pledged Policies that constitute Retained Death Benefit Policies are listed on S chedule 8.1(x) and, except as set forth on S chedule 8.1(x), the portion of the Net Death Benefit payable to any Person other than the Securities Intermediary does not exceed fifteen percent (15%) of the Net Death Benefit of any such Retained Death Benefit Policy.

Related to Retained Death Benefit

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • Designated Beneficiary means the beneficiary or beneficiaries the Participant designates, in a manner the Administrator determines, to receive amounts due or exercise the Participant’s rights if the Participant dies or becomes incapacitated. Without a Participant’s effective designation, “Designated Beneficiary” will mean the Participant’s estate.