Common use of Policy Ownership Clause in Contracts

Policy Ownership. The company will be the sole owner of any life insurance policies that it purchases and may use any dividends declared and paid on a policy for the payment of premiums on the policy. The company may name itself as beneficiary of any life insurance policies purchased, but death benefits received by the company must be held in trust for the purposes of this agreement.

Policy Ownership. The company Company will be the sole owner of any life insurance policies that it purchases and may use any dividends declared and paid on a policy for the payment of premiums on the policy. The company Company may name itself as beneficiary of any life insurance policies purchased, but death benefits received by the company Company must be held in trust for the purposes of this agreementAgreement.