Common use of OWNERSHIP AND BENEFICIARY CHANGES Clause in Contracts

OWNERSHIP AND BENEFICIARY CHANGES. Subject to the terms of any existing Assignment, the Owner may name a new Owner, a new Primary Beneficiary or a new Secondary Beneficiary. Any new choice of Owner, Primary Beneficiary or Secondary 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 Secondary Beneficiary will not apply to any payment made or action taken by the Company prior to the time it was recorded. The Company may require the Contract be returned so these changes may be made. -9- BP 2010N1 -------------------------------------------------------------------------------- PURCHASE PAYMENT PROVISIONS -------------------------------------------------------------------------------- FLEXIBLE PURCHASE PAYMENTS The Contract becomes in force when the initial Purchase Payment is applied. The Owner is not required to continue Purchase Payments in the amount or frequency originally planned. The Owner may: (1) increase or decrease the amount of Purchase Payments; or (2) change the frequency of Purchase Payments. A change in frequency or amount of Purchase Payments does not require a written request.

OWNERSHIP AND BENEFICIARY CHANGES. Subject to the terms of any existing Assignment, the Owner may name a new Owner, a new Primary Beneficiary or a new Secondary Beneficiary. Any new choice of Owner, Primary Beneficiary or Secondary 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 Secondary Beneficiary will not apply to any payment made or action taken by the Company prior to the time it was recorded. The Company may require the Contract be returned so these changes may be made. -9- BP 2010N1 -------------------------------------------------------------------------------- PURCHASE PAYMENT PROVISIONS -------------------------------------------------------------------------------- FLEXIBLE PURCHASE PAYMENTS The Contract becomes in force when the initial Purchase Payment is applied. The Owner is not required to continue Purchase Payments in the amount or frequency originally planned. The Owner may: (1) increase or decrease the amount of Purchase Payments, subject to any Contract or administrative limits; or (2) change the frequency of Purchase Payments. A change in frequency or amount of Purchase Payments does not require a written request.