facility of payment clause
- facility of payment clause
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An appointment by the parties to an insurance contract of persons or classes of persons who may receive payment of the benefits or proceeds accruing under the contract, give receipt therefor to the insurer so as to discharge it from liability, and thereafter hold the amount received for the benefit of the person ultimately entitled thereto. Anno: 166 ALR 12. Better known is the clause in industrial life insurance policies whereby the insurer is permitted to discharge its liability for the proceeds by payment to the beneficiary named or to any other person appearing to the insurer to be equitably entitled to the proceeds. Annos: 28 ALR 1350; 49 ALR 939.
Ballentine's law dictionary.
Anderson, W.S..
1998.
Look at other dictionaries:
facility of payment clause — fa·cil·i·ty of pay·ment clause /fə si lə tē /: a clause in an insurance policy permitting the insurer to pay the death benefit to a relative of the insured or to any other person esp. by reason of the person s incurring expenses (as funeral… … Law dictionary
facility of payment clause — Provision in insurance policy providing for appointment by insured and beneficiary of persons authorized to receive payment. Downey v. Downey, 1 Conn.App. 489, 472 A.2d 1296, 1298. It confers on insurer an option as to whom it will make payment.… … Black's law dictionary
facility of payment clause — Provision in insurance policy providing for appointment by insured and beneficiary of persons authorized to receive payment. Downey v. Downey, 1 Conn.App. 489, 472 A.2d 1296, 1298. It confers on insurer an option as to whom it will make payment.… … Black's law dictionary
facility of payment clause — a provision in an industrial life insurance policy permitting the company to pay the death benefit to a relative of the insured or any other person entitled thereto by reason of his having paid expenses in the insured s behalf … Useful english dictionary
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