Fully Paid-up Contract. Once this Contract has acquired an encashment value and the contributions of the first three years have been fully paid, the Contract Owner may elect to convert his/her Contract into a fully paid-up Contract. In such case, the insurance benefits will be cancelled and the amount payable on the death of the Life Assured will be limited to the value of the Investment Accounts at the date of death. If the value of the Investment Accounts becomes nil, a fully paid-up Contract will remain active for a maximum period of 90 days. Thereafter the Contract shall lapse.
Fully Paid-up Contract. Once this Contract has acquired an encashment value and the contributions of the first three years have been fully paid, the Contract owner may elect to convert his/ her Contract into a fully paid-up Contract. In such case the insurance benefits as well as the riders, if any, will be cancelled and the amount payable on the death of the life assured will be limited to the value of the investment accounts at the date of death. If the value of the investment accounts becomes nil, a fully paid-up Contract will remain active for a maximum period of 90 days. Thereafter the Contract shall lapse.
Fully Paid-up Contract. Once this Contract has acquired an encashment value and the contributions of the first three years have been fully paid, the Contract Owner may elect to convert his/her Contract into a fully paid-up Contract. In such case, the insurance benefits will be cancelled and the amount payable on the death of the Life Assured will be limited to the value of the Investment Accounts at the date of death. If the value of the Investment Accounts becomes nil, a fully paid-up Contract will remain active for a maximum period of 90 days. Thereafter the Contract shall lapse. SNA X.X.X. 11
