The recipient would get the whole face value less any unpaid premiums from the insurance company.
This is further explained below.
What are premiums?
Generally, A premium is a sum of money that is paid on a regular basis to an insurer by the insured as payment for risk coverage. In the context of an insurance contract, the risk is passed from the insured party to the insurance company. The amount that the insurance charges the policyholder, known as the premium, for bearing this risk.
In conclusion, The recipient would get the whole face value less any unpaid premiums that were accrued in arrears.
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