Common use of Certain Term Life Insurance Contracts Clause in Contracts

Certain Term Life Insurance Contracts. A life insurance contract maintained in Finland with a coverage period that will end before the insured individual attains age 90, provided that the contract satisfies the following requirements: 1. Periodic premiums, which do not decrease over time, are payable at least annually during the period the contract is in existence or until the insured attains age 90, whichever is shorter; 2. The contract has no contract value that any person can access (by withdrawal, loan, or otherwise) without terminating the contract; 3. The amount (other than a death benefit) payable upon cancellation or termination of the contract cannot exceed the aggregate premiums paid for the contract, less the sum of mortality, morbidity, and expense charges (whether or not actually imposed) for the period or periods of the contract’s existence and any amounts paid prior to the cancellation or termination of the contract; and 4. The contract is not held by a transferee for value.

Certain Term Life Insurance Contracts. A life insurance contract maintained in Finland Estonia with a coverage period that will end before the insured individual attains age 90, provided that the contract satisfies the following requirements: 1. Periodic premiums, which do not decrease over time, are payable at least annually during the period the contract is in existence or until the insured attains age 90, whichever is shorter; 2. The contract has no contract value that any person can access (by withdrawal, loan, or otherwise) without terminating the contract; 3. The amount (other than a death benefit) payable upon cancellation or termination of the contract cannot exceed the aggregate premiums paid for the contract, less the sum of mortality, morbidity, and expense charges (whether or not actually imposed) for the period or periods of the contract’s existence and any amounts paid prior to the cancellation or termination of the contract; and 4. The contract is not held by a transferee for value.

Certain Term Life Insurance Contracts. A life insurance contract maintained in Finland Sweden with a coverage period that will end before the insured individual attains age 90, provided that the contract satisfies the following requirements: 1. Periodic premiums, which do not decrease over time, are payable at least annually during the period the contract is in existence or until the insured attains age 90, whichever is shorter; 2. The contract has no contract value that any person can access (by withdrawal, loan, or otherwise) without terminating the contract; 3. The amount (other than a death benefit) payable upon cancellation or termination of the contract cannot exceed the aggregate premiums paid for the contract, less the sum of mortality, morbidity, and expense charges (whether or not actually imposed) for the period or periods of the contract’s existence and any amounts paid prior to the cancellation or termination of the contract; and 4. The contract is not held by a transferee for value.

Certain Term Life Insurance Contracts. A life insurance contract maintained in Finland Iceland with a coverage period that will end before the insured individual attains age 90, provided that the contract satisfies the following requirements: 1. Periodic premiums, which do not decrease over time, are payable at least annually during the period the contract is in existence or until the insured attains age 90, whichever is shorter; 2. The contract has no contract value that any person can access (by withdrawal, loan, or otherwise) without terminating the contract; 3. The amount (other than a death benefit) payable upon cancellation or termination of the contract cannot exceed the aggregate premiums paid for the contract, less the sum of mortality, morbidity, and expense charges (whether or not actually imposed) for the period or periods of the contract’s existence and any amounts paid prior to the cancellation or termination of the contract; and 4. The contract is not held by a transferee for value.