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Meaning / Definition of

Pay On Death

Categories: Estate Planning,

Clause tied to money that only allows the beneficiary to receive the funds after the owner had died. Beneficiaries have no claim to the money until the death occurs. The owner has the ability to change the POD beneficiary at any time. POD orders are often taken out on bank accounts and other investments.

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Homeowners Policy Special Form 3 (HO 3)

Categories: Insurance,

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