Sentences with phrase «heirs claim the amount»

Even if the other legal heirs claim the amount, insurers will pay the proceeds only to the beneficiary nominees.

Not exact matches

The insurance company might dispatch the claim amount to Class I legal heir which includes - insured's spouse, son, daughter and mother.

On any eventuality, the claim amount is payable to the nominee or legal heir.

In case the Master Policy is issued under Lender - Borrower category to any of the «Regulated Entities», the Member shall have an option to issue an authorization in favour of insurer to the effect that in the unfortunate event of the Member's death during the Coverage Term, the claim amount, if any payable under the Master Policy shall first be utilized for payment to Master Policyholder for the outstanding loan amount as specified in Master Policyholder's Credit Account Statement and the balance amount, if any, payable under the Master Policy will be payable to the Member's Nominees / legal heirs or legal representatives (as applicable).

For «Other Entities» (other than the above Regulated Entities), on the unfortunate event of the Member's death during the Coverage Term, the claim amount shall be payable to the Member's Nominee / legal heirs or legal representatives (as applicable).