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LSDefine

Simple English definitions for legal terms

proceeds and avails

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A quick definition of proceeds and avails:

Proceeds and Avails: This refers to the money that can be received from a life insurance policy. It includes the amount of money that has been accumulated since the policy was issued, as well as the benefits that are payable when the policy matures or when the insured person passes away. Basically, it's the total amount of money that can be obtained from a life insurance policy.

A more thorough explanation:

Definition: Proceeds and avails refer to the cash-surrender value of a life-insurance policy, including the values accumulated since the policy's issue date and the benefits payable upon maturity and the death of the insured.

Example: Suppose a person has a life-insurance policy with a cash-surrender value of $50,000. If the policyholder decides to surrender the policy, they will receive the $50,000 as the proceeds and avails of the policy. Additionally, if the policyholder passes away, their beneficiaries will receive the death benefit as part of the proceeds and avails.

The examples illustrate that proceeds and avails refer to the total value of a life-insurance policy, including the cash-surrender value, accumulated values, and benefits payable upon maturity and death. These values are paid out to the policyholder or their beneficiaries depending on the circumstances.

proceeds | proceres

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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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