An act of God. Any occurrence completely beyond human control and which could not have been avoided by foresight; a superior power; circumstances beyond one’s control. Example: an earthquake.
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Various rights that may be exercised under the policy contract by the policy owner. Some of the incidents of ownership would be: (1) the right to cash in the policy, (2) to receive a loan on the cash value of the policy, and (3) to change the beneficiary.