Accelerated Life Clause Samples
The Accelerated Life clause defines a situation where the duration or term of an obligation, such as a loan or lease, is shortened, causing the full amount to become due earlier than originally scheduled. This typically applies when certain triggering events occur, such as a default, sale of the underlying asset, or breach of contract terms. By allowing the obligation to be called due ahead of time, the clause protects the party owed by enabling them to recover their funds or assets promptly in response to increased risk or non-compliance.
Accelerated Life. The additional employee, spouse and child life insurance policies will include an accelerated benefits agreement providing for payment of benefits prior to death if the insured has a terminal condition.
Accelerated Life. The additional teacher, spouse or same sex domestic partner and child life insurance policies will include an accelerated benefits agreement providing for payment of benefits prior to death if the insured has a terminal condition.
Accelerated Life. The additional faculty member, spouse or and child life insurance 13 policies will include an accelerated benefits agreement providing for payment of benefits 14 prior to death if the insured has a terminal condition.