Corporate Beneficiary

Contract » Insurance Contract » Beneficiary » Corporate Beneficiary

When a corporation is a beneficiary of a life insurance policy, the death proceeds less the ACB go to the Capital Dividend Account.

Note: The insurance proceeds are subject to the claims of creditors of the corporation when received (and before going to the Capital Dividend Account).

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corporate definitions

page revision: 3, last edited: 20 Apr 2007 03:32

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