Death Benefit Increases. If a premium payment accompanies a request for a Stated Death Benefit increase or is received while a request is pending, the payment will be applied to the policy but commissions shall not be payable until the increase is effective. The commission shall then be payable based on the premium being allocated among all segments as it would normally and the new target premium after the increase.
Appears in 5 contracts
Samples: Selling Agreement (Southland Separate Account L1), Selling Agreement (Security Life Separate Account L1), Selling Agreement (Southland Separate Account L1)
Death Benefit Increases. If a premium payment accompanies a request for a Stated Death Benefit increase or is received while a request is pending, the payment will be applied to the policy but commissions shall not be payable until the increase is effective. The commission shall then be payable based on the premium being allocated among all segments as it would normally and the new target premium and new underwriting classification, if any, after the increase.
Appears in 1 contract
Samples: Selling Agreement (Security Life Separate Account L1)
