Common use of OWNERSHIP AND BENEFICIARY CHANGES Clause in Contracts

OWNERSHIP AND BENEFICIARY CHANGES. Subject to the terms of any existing Assignment, you may name a new Owner, a new Primary Beneficiary or a new Contingent Beneficiary; provided that you may not change or remove an irrevocable Beneficiary without obtaining his or her written consent in a form acceptable to us. Any new choice of Owner, Primary Beneficiary or Contingent Beneficiary will revoke any prior choice. Any change must be made in writing and recorded at the Home Office. The change will become effective as of the date the written request is signed, whether or not the Owner is living at the time the change is recorded. A new choice of Primary Beneficiary or Contingent Beneficiary will not apply to any payment made or action taken by SBL prior to the time it was recorded. SBL may require the Contract be returned so these changes may be made.

OWNERSHIP AND BENEFICIARY CHANGES. Subject to the terms of any existing Assignment, you may name a new Owner, a new Primary Beneficiary or a new Contingent Beneficiary; provided that you may not change or remove an irrevocable Beneficiary without obtaining his or her written consent in a form acceptable to us. Any new choice of Owner, Primary Beneficiary or Contingent Beneficiary will revoke any prior choice. Any change must be made in writing and recorded at the Home Administrative Office. The change will become effective as of the date the written request is signed, whether or not the Owner is living at the time the change is recorded. A new choice of Primary Beneficiary or Contingent Beneficiary will not apply to any payment made or action taken by SBL FSBL prior to the time it was recordedreceived. SBL FSBL may require the Contract be returned so these changes may be made.

OWNERSHIP AND BENEFICIARY CHANGES. Subject to the terms of any existing Assignmentassignment, you may name a new Owner, a new Primary Beneficiary or a new Contingent Beneficiary; provided that that, you may not change or remove an irrevocable Beneficiary without obtaining his or her written consent in a form acceptable to usSBL. Any new choice of Owner, Primary Beneficiary or Contingent Beneficiary will revoke any prior choice. Any change must be made in writing and recorded at the Home Office. The change will become effective as of the date the written request is signed, whether or not the Owner is living at the time the change is recorded. A new choice of Primary Beneficiary or Contingent Beneficiary will not apply to any payment made or action taken by SBL prior to the time it was recorded. SBL may require the Contract be returned so these changes may be made.