SECTION 4 - INSURANCE BENEFITS (Continued)
EMPLOYEE LIFE INSURANCE COVERAGE (Continued) Accelerated Death Benefit (Continued) When Must you Apply for an Accelerated Death Benefit? (Continued)
During the pendency of a claim, Lincoln may, at its own expense, have a Physician examine you. If you have assigned all or a portion of the Life Insurance under this policy or named an irrevocable beneficiary, you must also give Lincoln a signed written consent form from the assignee or irrevocable beneficiary. The Accelerated Death Benefit will be payable upon receipt of satisfactory Proof of a Terminal Condition; and signed written consent from an assignee or irrevocable beneficiary, if required.
With respect to this provision "Terminal Condition" means a condition: 1. which is expected to result in your death within 12 months; and 2. from which there is no reasonable prospect of recovery.
What is the Effect on Insurance? The amount of your Life Insurance will be reduced by the amount paid as an Accelerated Death Benefit. Premiums, if any, for the remaining portion of your Life Insurance will be based on the amount of the remaining Life Insurance in effect after payment of the Accelerated Death Benefit. All other terms and provisions of this policy will apply to the remaining portion. Receipt of an Accelerated Death Benefit does not affect any Accidental Death or Dismemberment insurance benefit in force on your life. Exceptions No Accelerated Death Benefit will be paid if: 1. you are required by a court of law to exercise this option to satisfy a claim of creditors, whether in bankruptcy or otherwise; 2. you are required by a governmental agency to exercise this option in order to apply for, receive, or continue a government benefit or entitlement; 3. all or a part of your insurance must be paid to your children or spouse or former spouse as part of a divorce decree, separate maintenance agreement or property settlement agreement; 4. you are married and live in a community property state, unless your spouse has given Lincoln signed written consent.
GLC-LIF-3.10 (TN)
Employee Life Insurance
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