Common use of Face Amount Decrease Clause in Contracts

Face Amount Decrease. You may request a decrease in the Total Face Amount of the policy by providing a Written Request. A decrease in Total Face Amount is subject to these limits: • Only one requested decrease per policy year is allowed. • A decrease during the first policy year is not allowed. • The Basic Face Amount remaining after a decrease must be at least $10,000. The effective date of the decreased Face Amount will be the first Monthly Payment Date on or next following the date we approved your Written Request. Unless and until you specify otherwise by Written Request, any request for a decrease in Total Face Amount will not take effect if the requested change would cause the policy to be classified as a Modified Endowment Contract under the Code. We recommend you consult your tax advisor before requesting a decrease in Total Face Amount of Coverage Layers as described below. Upon approval of any decrease, we will send you a Supplemental Schedule of Coverage to reflect the decrease. The request for a decrease in the Total Face Amount will be subject to the Guideline Premium Limit (if specified for your policy) as defined in the Code. This may result in one or more refunds of premiums or required distributions of Accumulated Value in order to maintain compliance with such limit, in accordance with the Tax Qualification as Life Insurance section of this policy. Such request will not be allowed to the extent we determine that any resulting Guideline Premium limit would cause an amount in excess of the Net Cash Surrender Value to be distributed from the policy.

Face Amount Decrease. You may request a decrease in the Total Face Amount of the policy Policy by providing a Written Request. A decrease in Total Face Amount is subject to each of these limits: • · Only one requested decrease per policy Policy year is allowed. • ; · A decrease during the first policy Policy year is not allowed. • ; and · The Basic Face Amount remaining after a decrease must be at least $10,000equal to the Minimum Basic Face Amount Following Decrease shown in the Policy Specifications. The effective date of the decreased Face Amount will be the first Monthly Payment Date on or next following the date we approved your Written Request. Unless and until you specify otherwise by Written Request, any request for a decrease in Total Face Amount will not take effect if the requested change would cause the policy Policy to be classified as a Modified Endowment Contract under the CodeCode in accordance with the Modified Endowment Contract Tax Status section of this Policy. We recommend you consult your a qualified tax advisor before requesting a decrease in Total Face Amount of Coverage Layers as described below. Upon approval of any decrease, we will send you a Supplemental Schedule of Coverage to reflect the decrease. The request for a decrease in the Total Face Amount will be subject to the Guideline Premium Limit (if specified for your policyPolicy) as defined in the Code. This may result in one or more refunds of premiums or required distributions of Accumulated Value in order to maintain compliance with such limit, in accordance with the Tax Qualification as Life Insurance section of this policyPolicy. Such request will not be allowed to the extent we determine that any resulting Guideline Premium limit would cause an amount in excess of the Net Cash Surrender Value to be distributed from the policyPolicy.

Face Amount Decrease. You may request a decrease in the Total Face Amount of the policy Policy by providing a Written Request. A decrease in Total Face Amount is subject to each of these limits: • Only one requested decrease per policy Policy year is allowed. allowed • A decrease during the first policy Policy year is not allowed. allowed • The amount of the decrease must be at least $10,000 • The Basic Face Amount remaining after a decrease must be at least $10,000. 10,000 • The Total Face Amount remaining after a decrease must be at least $100,000 The effective date of the decreased Face Amount will be the first Monthly Payment Date on or next following the date we approved your Written Request. Unless and until you specify otherwise by Written Request, any request for a decrease in Total Face Amount will not take effect if the requested change would cause the policy Policy to be classified as a Modified Endowment Contract under the Code. We recommend you consult your a qualified tax advisor before requesting a decrease in Total Face Amount of Coverage Layers as described below. Upon approval of any decrease, we will send you a Supplemental Schedule of Coverage to reflect the decrease. The request for a decrease in the Total Face Amount will be subject to the Guideline Premium Limit (if specified for your policyPolicy) as defined in the Code. This may result in one or more refunds of premiums or required distributions of Accumulated Value in order to maintain compliance with such limit, in accordance with the Tax Qualification as Life Insurance section of this policyPolicy. Such request will not be allowed to the extent we determine that any resulting Guideline Premium limit would cause an amount in excess of the Net Cash Surrender Value to be distributed from the policyPolicy.

Face Amount Decrease. You may request a decrease in the Total Face Amount of the policy Policy by providing a Written Request. A decrease in Total Face Amount is subject to each of these limits: • Only one requested decrease per policy Policy year is allowed. • A decrease during the first policy Policy year is not allowed. • The Basic Face Amount remaining after a decrease must be at least $10,000. The effective date of the decreased Face Amount will be the first Monthly Payment Date on or next following the date we approved your Written Request. Unless and until you specify otherwise by Written Request, any request for a decrease in Total Face Amount will not take effect if the requested change would cause the policy Policy to be classified as a Modified Endowment Contract under the CodeCode in accordance with the Modified Endowment Contract Tax Status section of this Policy. We recommend you consult your a qualified tax advisor before requesting a decrease in Total Face Amount of Coverage Layers as described below. Upon approval of any decrease, we will send you a Supplemental Schedule of Coverage to reflect the decrease. The request for a decrease in the Total Face Amount will be subject to the Guideline Premium Limit (if specified for your policyPolicy) as defined in the Code. This may result in one or more refunds of premiums or required distributions of Accumulated Value in order to maintain compliance with such limit, in accordance with the Tax Qualification as Life Insurance section of this policyPolicy. Such request will not be allowed to the extent we determine that any resulting Guideline Premium limit would cause an amount in excess of the Net Cash Surrender Value to be distributed from the policyPolicy.