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Common use of POLICY SPLIT OPTION Clause in Contracts

POLICY SPLIT OPTION. You may elect to surrender this Policy in exchange for separate individual permanent life insurance policies on the life of each Insured if:

Appears in 2 contracts

Sources: Joint & Last Survivor Flexible Premium Variable Life Insurance Policy (Variable Account Ii Aig Life Insurance Co), Joint & Last Survivor Flexible Premium Variable Life Insurance Policy (Variable Account Ii Aig Life Insurance Co)

Related Clauses

  • Group Life Insurance Plan
  • Share Option Plans
  • Option Plans
  • Equity Incentive Plans
  • Equity Award

Parent Clauses

  • Conversions, and Replacements
  • REINSTATEMENT
  • EXTRA-CONTRACTUAL DAMAGES
  • INSOLVENCY OF THE REINSURER
  • CONVERSIONS, EXCHANGES AND REPLACEMENTS

Sub-Clauses

  • AMOUNT AND PAYMENT OF REINSURANCE BENEFITS
  • NOTICE
  • PROOFS
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