Common use of Limitations on Owner's Rights in Policy Clause in Contracts

Limitations on Owner's Rights in Policy. The Owner shall not sell, assign, transfer, borrow against, surrender or cancel the Policy, change the beneficiary designation provision thereof, or terminate the dividend election thereof.

Limitations on Owner's Rights in Policy. The Except as otherwise provided herein, the Owner shall not sell, assign, transfer, borrow against, surrender or cancel the Policy, change the beneficiary designation provision thereof, or nor terminate the dividend election thereofthereof without, in any such case, the express written consent of the Corporation.