CHANGES IN SPECIFIED AMOUNT Clause Samples
CHANGES IN SPECIFIED AMOUNT. The Specified Amount may be changed after the contract has been in force one year. Once the Specified Amount has been changed, it cannot be changed again for the next twelve months. Specified Amount changes are subject to the conditions outlined below. Changes in Specified Amount will be effective on the Monthly Anniversary Day on or following the date we approve your application.
CHANGES IN SPECIFIED AMOUNT. The Owner may decrease the Specified Amount upon written request, subject to approval by the Company. If the request is received before the close of trading on the NYSE on a monthly processing date, it will be effective on that monthly processing date; otherwise it will be effective on the next monthly processing date. The Company reserves the right to charge for more than one change to the Specified Amount in a Policy year. This charge will be deducted from the Contract Fund Value and will not exceed the amount shown on the Policy Schedule Pages (page 4). A decrease will not be allowed if the Specified Amount following the decrease would be less than the minimum Specified Amount the Company would require for issuance of a policy at the time of change.
CHANGES IN SPECIFIED AMOUNT. The Owner may change the Specified Amount, upon written request, subject to approval by the Company. If the request is received before the close of trading on the NYSE on a monthly processing date, it will be effective on that monthly processing date; otherwise it will be effective on the next monthly processing date. The Company reserves the right to charge for more than one change to the Specified Amount in a Policy year. This charge will be deducted from the Contract Fund Value and will not exceed the amount shown on the Policy Schedule Pages (page 4).