common disaster clause

  

Definition

Provision in most life insurance policies (and some wills) under which the primary beneficiary of the policy (or will) must survive the insured (or testator) by a certain number (usually from 60 to 90) days to qualify to receive the policy's (or will's) benefits. Otherwise the benefits will be paid to the insured's (the testator's) estate as if the primary beneficiary died before the insured (testator). Also called survivorship clause.

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