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Common use of USE OF DIVIDENDS Clause in Contracts

USE OF DIVIDENDS. Policy dividends shall be applied to purchase paid-up additional insurance protection.

Appears in 2 contracts

Sources: Split Dollar Insurance Agreement (Westbury Bancorp, Inc.), Split Dollar Insurance Agreement (Coltec Industries Inc)

Related Clauses

  • Declaration of Dividends
  • Payment of Dividends
  • Nature of Dividends
  • Cash Dividends
  • PAYMENT OF DIVIDENDS OR DISTRIBUTIONS

Parent Clauses

  • Dividends
  • REINSTATEMENT
  • BENEFICIARIES
  • Death Benefit
  • SPECIFIED AMOUNT CHANGES

Sub-Clauses

  • Special Rule for Mature Accounts
  • INVESTMENT OF FUND
  • Unallocated Reserve Dividends
  • Management and Investment of Fund
  • General Rule
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