Maximum Death Benefit Clause Samples
The Maximum Death Benefit clause sets an upper limit on the amount payable to beneficiaries upon the insured's death under a life insurance policy. This clause specifies the highest sum that can be claimed, regardless of the policy's cash value or any additional riders. For example, even if the policy accumulates significant value or multiple claims are made, the payout will not exceed this predetermined cap. Its core function is to manage the insurer's risk exposure and provide clear expectations to policyholders regarding the maximum benefit available.
Maximum Death Benefit. If the Insured’s death occurs while the Insured is in the full-time employment of the Bank (or while the Executive is deemed to be in the full-time employment of the Bank due to Section 8(b)(ii) on account of being Substantially Disabled), but prior to the Insured attaining age sixty-five (65), then the “Death Benefit” shall equal $1,800,000.
Maximum Death Benefit. If Insured’s death occurs while Insured is in the full-time employment of Bank, then the “Death Benefit” shall equal $500,000.
Maximum Death Benefit. The Maximum Coverage Amount with respect to any one Life Insured under this Policy shall not exceed $750,000 for issue for ages 45 years and under and $500,000 for issue for ages 46 years to 60 years.
Maximum Death Benefit. After the Policy Date, the Minimum Required Death Benefit may exceed the Specified Amount due to investment results reflected in the Cash Value. We reserve the right to limit the Death Benefit to the Maximum Death Benefit amount shown on the Policy Data Page. The amount of the Death Benefit is calculated on each Valuation Day. If the calculation results in an amount greater than the Maximum Death Benefit, and we elect to exercise the above right, we will generate a Partial Surrender of sufficient amount that after said Partial Surrender, the Death Benefit is 90% of the Maximum Death Benefit. If the Insured dies, the Death Benefit shall not exceed the Maximum Death Benefit. If payment of the proceeds from a Partial Surrender is pending on the date of death, our obligation to remit such proceeds shall be in addition to our obligation to pay Death Proceeds.