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Old 01-05-2014, 02:57 PM
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<!--[if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:PunctuationKerning/> <w:ValidateAgainstSchemas/> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:Compatibility> <w:BreakWrappedTables/> <w:SnapToGridInCell/> <w:WrapTextWithPunct/> <w:UseAsianBreakRules/> <wontGrowAutofit/> </w:Compatibility> <w:BrowserLevel>MicrosoftInternetExplorer4</w:BrowserLevel> </w:WordDocument> </xml><![endif]--> them from the husband, together with all her costs and expenses, including her solicitor and client costs.
(7) If the husband dies without this insurance in effect, his personal representatives will pay to the wife the difference between $ and the amount of life insurance she did receive under this paragraph and this obligation will be a first charge on his estate.
(Alternate
(8) If the husband dies without this insurance in effect, his obligation to pay support pursuant to this agreement will survive his death (notwithstanding paragraph(s) 11 and 14 of this agreement) and will be a first charge on his estate.
or
(9) The parties acknowledge that the husband's maintaining this life insurance is to provide a fund out of which support may be payable to the wife and/or child(ren) in the event of the husband's death. The support payments, however, are not limited to this fund.
Life Insurance‑Private)
24. LIFE INSURANCE
(1) The husband owns a policy of insurance in the amount of $__________through_________(name of company) bearing policy number #_____________ .
<!--[if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:PunctuationKerning/> <w:ValidateAgainstSchemas/> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:Compatibility> <w:BreakWrappedTables/> <w:SnapToGridInCell/> <w:WrapTextWithPunct/> <w:UseAsianBreakRules/> <wontGrowAutofit/> </w:Compatibility> <w:BrowserLevel>MicrosoftInternetExplorer4</w:BrowserLevel> </w:WordDocument> </xml><![endif]--> The husband will designate irrevocably the wife as sole beneficiary under this policy and file the designation with the __________as provided by the Insurance Act. The husband will give the wife a true copy of the designation within 14 days from the execution of this agreement.
(3) The husband will maintain the wife as sole irrevocable beneficiary under the policy for as long as he is required to pay support for either the wife or the child(ren) and the husband may then deal with the policy as he wishes.
(4) At the wife's request, the husband will annually provide proof that the policy remains in effect.
(Alternate):
authorization and direction,


(5) If the husband defaults in payment of the premiums and the policy is no longer in good standing, the wife, at her sole option, may pay any premiums and may recover them from the husband, together with all her costs and expenses, including her solicitor and client costs.
(6) If the husband dies without this insurance in effect, his personal representatives will pay to the wife the difference between $________ and the amount of life insurance she received under this paragraph and this obligation will be a first charge on his estate.
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