Common use of Extended Term Insurance Clause in Contracts

Extended Term Insurance. If your contract lapses, as described in Section 5.8, Grace Period, we will apply the Cash Surrender Value to continue the Specified Amount and any additional benefits provided by riders for a portion of the next month. The amount of extended term insurance is determined according to the coverage option in effect as of the date insurance is extended under this option.

Extended Term Insurance. If your contract lapses, as described in Section 5.8, Grace Period, we will apply the Cash Surrender Value to continue the Specified Amount and any J176 additional benefits provided by riders for a portion of the next month. The amount of extended term insurance is determined according to the coverage option in effect as of the date insurance is extended under this option.