Common use of Face Amount Change Clause in Contracts

Face Amount Change. Subject to our approval, the Owner may change the Face Amount if such request is made: . during the lifetime of the Insured; . no more often than once in any policy year; and . on your Written Request while this policy is in force. Face Amount Increase -- The effective date of the increased Face Amount will be the first Monthly Payment Date on or following the date all applicable conditions are met. A supplemental schedule of benefits and premiums will be issued. This schedule will include: . the risk class; . the effective date; . the M&E Risk Charges; . the Surrender Charges; . the guaranteed Cost of Insurance Rates; . the amount of the increase and the total Face Amount after the increase; and . if the Guideline Premium Test is used, the new Guideline Premiums. We reserve the right to charge a fee not to exceed $100 for each increase. Any such fee will be deducted from the Accumulated Value of the Fixed and the Variable Accounts in the proportion that each bears to the Accumulated Value less Policy Debt on the effective date of the increase. For any increase in Face Amount which arises from conversion of a term rider, we will waive the Surrender Charges and M&E Risk Face Amount Charges that would otherwise apply for the increase. Limits on Face Amount Increase -- An increase in Face Amount will be allowed only if it results in a death benefit increase no less than our minimum limit in effect on the date of the request. Also, an increase will not be allowed if there has been a prior decrease in Face Amount, including any decrease which occurred as a result of a Withdrawal. Face Amount Decrease -- We recommend you consult your tax advisor before requesting a decrease in policy Face Amount. You may not decrease the Face Amount before the fifth anniversary of the effective date of the associated coverage. The effective date of the decreased Face Amount will be the first Monthly Payment Date on or following the date we receive the Written Request. If there have been prior increases in Face Amount, the original Face Amount and any increase(s) in Face Amount will be decreased proportionately. A supplemental schedule of benefits and premiums will be issued. This schedule will include the following information: . the effective date of the decreased Face Amount; . the amount of the decrease and the decreased Face Amount; and . if the Death Benefit Qualification is the Guideline Premium Test, the new Guideline Premiums. Paid-Up Insurance -- On each policy anniversary you have the option to use the Net Cash Surrender Value to purchase guaranteed fixed paid-up insurance on the life of the Insured. At the time of conversion, the Net Cash Surrender Value will be transferred to our general account. The amount of paid-up insurance is determined by applying the Net Cash Surrender Value as the net single premium based upon the Insured's Age and Risk Classification, 1980 CSO mortality and 3% interest. Any riders attached to the policy will terminate at the time of conversion. Such paid-up insurance may be surrendered at any time, with the cash surrender value being determined on the same basis. Change in Benefits -- Under the Guideline Premium Test, any change in policy or rider benefits will require an adjustment to the guideline premium limitation. See the Tax Qualification as Life Insurance subsection of the General Provisions section for details.

Face Amount Change. Subject to our approval, the Owner may change the Face Amount if such request is made: . during the lifetime of the Insured; . no more often than once in any policy year; and . on your Written Request while this policy is in force. Face Amount Increase -- FACE AMOUNT INCREASE - The effective date of the increased Face Amount will be the first Monthly Payment Date on or following the date all applicable conditions are met. A supplemental schedule of benefits and premiums will be issued. This schedule will include: . the risk class; . the effective date; . the M&E Risk Charges; . the Surrender Charges; . the guaranteed Cost of Insurance Rates; . the amount of the increase and the total Face Amount after the increase; and . if the Guideline Premium Test is used, the new Guideline Premiums. An increase in Face Amount will be allowed only if it results in a death benefit increase no less than our minimum limit in effect on the date of the request. We reserve the right to charge a fee not to exceed $100 for each increase. Any such fee will be deducted from the Accumulated Value of the Fixed and the Variable Accounts in the proportion that each bears to the Accumulated Value less Policy Debt on the effective date of the increase. For any increase in Face Amount which arises from conversion of a term rider, we will waive the Surrender Charges and M&E Risk Face Amount Charges that would otherwise apply for the increase. Limits on Face Amount Increase -- An increase in Face Amount will be allowed only if it results in a death benefit increase no less than our minimum limit in effect on the date of the request. Also, an increase will not be allowed if there has been a prior decrease in Face Amount, including any decrease which occurred as a result of a Withdrawal. Face Amount Decrease -- We recommend you consult your tax advisor before requesting a decrease in policy Face Amount. You may not decrease the Face Amount before the fifth anniversary of the effective date of the associated coverage. FACE AMOUNT DECREASE - The effective date of the decreased Face Amount will be the first Monthly Payment Date on or following the date we receive the Written Request. If there have been prior Existing insurance will be decreased or eliminated in the following order: . first, the most recent increase; . second, the next most recent increases in Face Amountsuccessively; and . finally, the original Face Amount and any increase(s) in Face Amount will be decreased proportionatelyAmount. A supplemental schedule of benefits and premiums will be issued. This schedule will include the following information: . the effective date of the decreased Face Amount; . the amount of the decrease and the decreased Face Amount; and . if the Death Benefit Qualification is the Guideline Premium Test, the new Guideline Premiums. Paid-Up Insurance -- On each policy anniversary you have If the option Guideline Premium Test has been elected as the Death Benefit Qualification Test, the request for a decrease in the Face Amount will be subject to use the Guideline Premiums Limitation as defined in the Code. This may result in a refund of premiums and/or the distribution of Accumulated Value in order to maintain compliance with such limitations. Such request will not be allowed if the resulting Guideline Premiums could cause an amount greater than the Net Cash Surrender Value to purchase guaranteed fixed paid-up insurance on be distributed from the life policy. Unless specified otherwise by you in writing, no request for a face amount decrease will be processed if the decrease would cause the policy to be treated as a MEC under the Code. ACCUMULATED VALUE ACCUMULATED VALUE - is the sum of the Insured. At Fixed Accumulated Value plus the time of conversion, Variable Accumulated Value plus the Net Cash Surrender Value will be transferred Loan Account and any interest credited to our general account. The amount of paid-up insurance is determined by applying the Net Cash Surrender Value as the net single premium based upon the Insured's Age and Risk Classification, 1980 CSO mortality and 3% interest. Any riders attached to the policy will terminate at the time of conversion. Such paid-up insurance may be surrendered at any time, with the cash surrender value being determined on the same basis. Change in Benefits -- Under the Guideline Premium Test, any change in policy or rider benefits will require an adjustment to the guideline premium limitation. See the Tax Qualification as Life Insurance subsection of the General Provisions section for detailsit.

Face Amount Change. Subject to our approval, the Owner may change the Face Amount if such request is made: . during the lifetime of the Insured; . no more often than once in any policy year; and . on your Written Request while this policy is in force. Face Amount Increase -- The - An increase in Face Amount is subject to evidence of insurability and will be effective date of the increased Face Amount will be on the first Monthly Payment Date on or following the date all applicable conditions are met. A supplemental schedule of benefits and premiums will be issued. This schedule will include: . the risk class; . the effective date; . the M&E Risk Charges; . the Surrender Charges; . the guaranteed Cost of Insurance Rates; . the amount of the increase and the total Face Amount after the increase; and . if the Guideline Premium Test is used, the new Guideline Premiums. We reserve the right to charge a fee not to exceed $100 for each increase. Any such fee will be deducted from the Accumulated Value of the Fixed and the Variable Accounts in the proportion that each bears to the Accumulated Value less Policy Debt on the effective date of the increase. For any increase in Face Amount which arises from conversion of a term rider, we will waive the Surrender Charges and M&E Risk Face Amount Charges that would otherwise apply for the increase. Limits on Face Amount Increase -- - An increase in Face Amount will be allowed only if it results in a death benefit increase no less than our minimum limit in effect on the date of the request. Also, an increase will not be allowed if there has been a prior decrease in Face Amount, including any decrease which occurred as a result of a Withdrawal. P98-52-NY Page 8 (P) Face Amount Decrease -- - We recommend you consult your tax advisor before requesting a decrease in policy Face Amount. You may not decrease the Face Amount before the fifth anniversary of the effective date of the associated coverage. The effective date of the decreased Face Amount will be the first Monthly Payment Date on or following the date we receive the Written Request. If there have been prior increases in Face Amount, the original Face Amount and any increase(s) in Face Amount will be decreased proportionatelyin reverse order. A supplemental schedule of benefits and premiums will be issued. This schedule will include the following information: . o the effective date of the decreased Face Amount; . the amount of the decrease and the decreased Face Amount; and . if the Death Benefit Qualification is the Guideline Premium Test, the new Guideline Premiums. Paid-Up Insurance -- - On each policy anniversary you have the option to use the Net Cash Surrender Value to purchase guaranteed fixed paid-up insurance on the life of the Insured. At the time of conversion, the Net Cash Surrender Value will be transferred to our general account. The amount of paid-up insurance is determined by applying the entire Net Cash Surrender Value as the net single premium based upon the Insured's Age and Risk Classification, 1980 CSO mortality and 3% interest. Any If the amount of paid-up insurance so determined would exceed the death benefit of the policy immediately prior to purchase of the paid-up insurance, we will apply only a portion of the Net Cash Surrender Value to purchase paid-up insurance, and the remainder will be paid to you. In this case, we will determine the amount of paid-up insurance so that the paid-up insurance plus the Net Cash Surrender Value paid to you will equal the policy's death benefit immediately prior to the purchase of the paid-up insurance. This policy and any riders attached to the policy it will terminate at the time of conversion. Such paid-up insurance may be surrendered at any time, with the cash surrender value being determined on the same basis. Change in Benefits -- - Under the Guideline Premium Test, any change in policy or rider benefits will require an adjustment to the guideline premium limitation. See the Tax Qualification as Life Insurance subsection of the General Provisions section for details. ACCUMULATED VALUE Accumulated Value (AV) - is the sum of the Fixed Accumulated Value plus the Variable Accumulated Value plus the Loan Account and any interest credited to it.

Face Amount Change. Subject to our approval, the Owner may change the Face Amount if such request is made: . during the lifetime of the Insured; . no more often than once in any policy year; and . on your Written Request while this policy is in force. Face Amount Increase -- Increase--The effective date of the increased Face Amount will be the first Monthly Payment Date on or following the date all applicable conditions are met. A supplemental schedule of benefits and premiums will be issued. This schedule will include: . the risk class; . the effective date; . the M&E Risk Charges; . the Surrender Charges; . the guaranteed Cost of Insurance Rates; . the amount of the increase and the total Face Amount after the increase; and . if the Guideline Premium Test is used, the new Guideline Premiums. An increase in Face Amount will be allowed only if it results in a death benefit increase no less than our minimum limit in effect on the date of the request. We reserve the right to charge a fee not to exceed $100 for each increase. Any such fee will be deducted from the Accumulated Value of the Fixed and the Variable Accounts in the proportion that each bears to the Accumulated Value less Policy Debt on the effective date of the increase. For any increase in Face Amount which arises from conversion of a term rider, we will waive the Surrender Charges and M&E Risk Face Amount Charges that would otherwise apply for the increase. Limits on Face Amount Increase -- An increase in Face Amount will be allowed only if it results in a death benefit increase no less than our minimum limit in effect on the date of the request. Also, an increase will not be allowed if there has been a prior decrease in Face Amount, including any decrease which occurred as a result of a Withdrawal. Face Amount Decrease -- We recommend you consult your tax advisor before requesting a decrease in policy Face Amount. You may not decrease the Face Amount before the fifth anniversary of the effective date of the associated coverage. Decrease--The effective date of the decreased Face Amount will be the first Monthly Payment Date on or following the date we receive the Written Request. If there have been prior Existing insurance will be decreased or eliminated in the following order: . first, the most recent increase; . second, the next most recent increases in Face Amountsuccessively; and . finally, the original Face Amount and any increase(s) in Face Amount will be decreased proportionatelyAmount. A supplemental schedule of benefits and premiums will be issued. This schedule will include the following information: . the effective date of the decreased Face Amount; . the amount of the decrease and the decreased Face Amount; and . if the Death Benefit Qualification is the Guideline Premium Test, the new Guideline Premiums. Paid-Up Insurance -- On each policy anniversary you have If the option Guideline Premium Test has been elected as the Death Benefit Qualification Test, the request for a decrease in the Face Amount will be subject to use the Guideline Premiums Limitation as defined in the Code. This may result in a refund of premiums and/or the distribution of Accumulated Value in order to maintain compliance with such limitations. Such request will not be allowed if the resulting Guideline Premiums could cause an amount greater than the Net Cash Surrender Value to purchase guaranteed fixed paid-up insurance on be distributed from the life policy. Unless specified otherwise by you in writing, no request for a face amount decrease will be processed if the decrease would cause the policy to be treated as a MEC under the Code. ACCUMULATED VALUE Accumulated Value--is the sum of the Insured. At Fixed Accumulated Value plus the time of conversion, Variable Accumulated Value plus the Net Cash Surrender Value will be transferred Loan Account and any interest credited to our general account. The amount of paid-up insurance is determined by applying the Net Cash Surrender Value as the net single premium based upon the Insured's Age and Risk Classification, 1980 CSO mortality and 3% interest. Any riders attached to the policy will terminate at the time of conversion. Such paid-up insurance may be surrendered at any time, with the cash surrender value being determined on the same basis. Change in Benefits -- Under the Guideline Premium Test, any change in policy or rider benefits will require an adjustment to the guideline premium limitation. See the Tax Qualification as Life Insurance subsection of the General Provisions section for detailsit.