Monthly Deduction End Date. Provided the Policy is still In Force, coverage will continue on and after the Monthly Deduction End Date, subject to all Policy provisions, with all of the following exceptions and clarifications: · Monthly Deductions will cease; · Premiums will not be accepted, except amounts required to keep the Policy In Force; · Loans will be allowed; · Loan repayments will be permitted; · Loan Interest Charges and Loan Interest Credits will continue to accrue; and · Withdrawals will not be allowed.
Monthly Deduction End Date. Provided the Policy is still In Force, coverage will continue on and after the Monthly Deduction End Date, subject to all Policy provisions, with all of the following exceptions and clarifications: • Monthly Deductions will cease • Premiums will not be accepted, except amounts required to keep the Policy In Force • Loans will be allowed • Loan repayments will be permitted • Loan Interest Charges and Loan Interest Credits will continue to accrue • Withdrawals will not be allowed Annual Report – A report will be mailed to your last known address no less frequently than annually. This report will show all of the following: • The beginning and end dates of the reporting period • The Accumulated Value at the beginning and end of the reporting period • Amounts that have been credited or debited to the Accumulated Value during the reporting period, identified by type • The Death Benefit at the end of the reporting period on each life covered by the Policy • The Net Cash Surrender Value at the end of the reporting period • Any Policy Debt outstanding at the end of the reporting period • A notice if the Net Cash Surrender Value will not be sufficient to keep the Policy In Force until the end of the next reporting period, unless further premium payments are made • Any other information required by law In addition to the above report, we will also mail you an annual report containing financial statements for the Separate Account and the designated investment company or companies or other designated portfolio(s) in which the Separate Account invests. The latter report will include a list of the portfolio securities of the investment company, or of any other designated portfolio, as required by the Investment Company Act of 1940. We will also send any other reports as required by federal securities law.
