Fillable Form Sp-8244 - Security Agreement printable pdf download

SECURITY AGREEMENT

_________________________________________

Print Name of Insured

_________________________________________

_____________________________________________

Print Name of Owner

Policy Number

WHEREAS, the undersigned owner (Grantor) has purchased a life insurance or annuity policy (Policy) from National Western

Life Insurance Company as described above; and

WHEREAS, the Grantor has entered into a prearranged funeral plan or Funeral Service Agreement (Funeral Agreement) with

the following funeral service provider (Grantee), whose name and address is

_____________________________________________________________________________________________________

__________________________________________________________________________________________.

NOW, THEREFORE, for value received, the Grantor hereby grants to the Grantee, its successors and assigns, a security interest

in the above Policy, subject to all terms of the Policy, and the parties agree as follows:

1. The Grantor warrants that he/she has accepted the above Policy, is satisfied with its terms, has no desire to void the Policy

and to receive a refund of premium. The security interest granted herein is revocable by the Grantor at any time by giving

written notice to National Western Life Insurance Company.

2. The security interest is granted to secure the payment to the Grantee for the funeral and/or burial services and/or merchandise

as detailed in the Funeral Agreement between Grantor and Grantee. The obligation of the Grantee to provide funeral services

and/or merchandise is contained in the Funeral Agreement between the parties. The provisions of the Funeral Agreement shall

govern in the case the proceeds payable to the Grantee by virtue of this Security Agreement are insufficient to cover the cost of

the arrangements made. In the event the proceeds of the Policy exceed the amounts due under the Funeral Agreement, such

excess shall be paid to the beneficiary(ies) designated in the Policy (or if no beneficiary, the Grantor's estate).

3. The Grantee acknowledges that this Agreement provides only a security interest in the Policy and that payment of the

proceeds from the Policy is contingent upon delivery of the agreed upon services and/or merchandise as provided in the Funeral

Agreement. The Grantee agrees, if the services and/or merchandise as specified in the Funeral Agreement are not provided by

the Grantee, or its successors or assigns, the proceeds of the Policy will be paid to the beneficiary(ies) designated in the Policy

(or if no beneficiary, the Grantor's estate).

NOTICE: The Funeral Agreement between the owner of the Policy and funeral provider may be subject to registration

under state law. This agreement is null and void if the Funeral Agreement is not properly filed.

SP-8244

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Form Sp-8244 - Security Agreement