Change of Death Benefit Option. The Death Benefit Option may be changed to Option A or B upon Written Request at a maximum of once per year. Changes to Option C are not permitted. After any such change, the Face Amount will be that amount which results in the death benefit after the change being equal to the death benefit before the change. The change will be effective on the Monthly Payment Date on or next following the day we receive your Written Request at our Home Office.
Appears in 2 contracts
Samples: Pacific Select Exec Separate Account of Pacific Life & Annui, Pacific Select Exec Separate Acct Pacific Life Ins
Change of Death Benefit Option. The Death Benefit Option may be changed to Option A or B upon Written Request at a maximum of once per year. Changes to Option C are not permitted. After any such change, the Face Amount will be that amount which results in the death benefit after the change being equal to the death benefit before the change. The change will be effective on the Monthly Payment Date on or next following the day we receive your Written Request at our Home Office. We reserve the right to disallow any Death Benefit Option Change from Option A to B that would result in the Face Amount remaining after the change to be less than $50,000.
Appears in 2 contracts
Samples: Pacific Select Exec Separate Acct Pacific Life Ins, Pacific Select Exec Separate Acct Pacific Life Ins
