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The Pros And Cons Of US Life

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Effective November 15, 1998, Dr. Griffith purchased an “American Medical Association–Sponsored Group Level Term Life Insurance Policy,” Certificate Number 9500108167, which was underwritten by U.S. Life. The Policy was for a 10–year term. Dr. Griffith was the owner of the Policy and was the named insured. Ms. Wilson was the primary beneficiary. Under the Policy, if Dr. Griffith died “while this [life] insurance is in force,” then, upon presentation of proof of his death to U.S. Life, U.S. Life would pay the beneficiary the scheduled benefit. The scheduled benefit for death was $400,000, with an additional accidental death benefit of $250,000.
Each premium, after the first, may be paid up to 31 days after its due date. This period is the grace

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