Common use of MAKING PURCHASE PAYMENTS Clause in Contracts

MAKING PURCHASE PAYMENTS. Initial Purchase Payment - You must make the initial purchase payment in order to put this Contract in force. The amount of your initial purchase payment is shown in the Schedule. Additional Purchase Payments - Subject to our acceptance and the limits described in the Schedule, additional purchase payments may be made at any time while this Contract is in force. All purchase payments after the first are payable at our Customer Service Center. If additional purchase payments are accepted, they may increase the death benefit. We reserve the right to require satisfactory evidence of insurability before accepting any additional purchase payment that increases the death benefit by more than it increases the Account Value. Unless specified otherwise, all payments received while a loan is outstanding, will first be considered as a payment of any loan interest, next as a loan repayment, and last as an additional purchase payment to this Contract.