PAID-UP OPTION. The Owner may change this Policy to the Paid-up Option upon written request to the Company provided the following conditions are met as of the effective date of the change (Section 11.2): • the Cash Surrender Value is at least $1,000; and • the Policy has been in force for a minimum period of time as shown on the Policy Schedule Pages (page 3). The change to the Paid-up Option is irrevocable.
Appears in 4 contracts
Samples: Life Insurance Policy (Northwestern Mutual Variable Life Account II), Life Insurance Policy (Northwestern Mutual Variable Life Account II), Life Insurance Policy (Northwestern Mutual Variable Life Account II)
