PAYMENT OF POLICY BENEFITS. 12.1 PAYMENT OF PROCEEDS Death proceeds will be paid under the payment plan that takes effect on the date of death of the Insured. The Interest Income Plan (Option A) will be in effect if no patient plan has been elected. Interest will accumulate from the date of death until a payment plan is elected or the proceeds are withdrawn in cash. Surrender proceeds will be paid in cash or under a payment plan that is elected.
PAYMENT OF POLICY BENEFITS. 15.1 PAYMENT OF THE LIFE INSURANCE BENEFIT
PAYMENT OF POLICY BENEFITS. Payment of death or surrender proceeds. Payment plans for policy proceeds. Right to increase income under payment plans. Guaranteed payment tables. ADDITIONAL BENEFITS (if any) APPLICATION BENEFITS AND PREMIUMS DATE OF ISSUE - JUNE 1, 1995 Initial Annual Payable Plan and Additional Benefits Amount Premiums for Variable Whole Life With Additional Protection Minimum Guaranteed Death Benefit $100,000 $1,347.00 Life Additional Protection 50,000* 189.00 Life Premiums To Increase Policy Value Scheduled Additional Premium 1,000.00 Life Excess Xxxxxx 000# Initial Totals $150,519# $2,536.00
1. To continue this amount of Additional Protection after June 1, 2006, an increased premium may be required under section 3.2. # This amount may increase or decrease daily depending on investment results. A premium is payable June 1, 1995 and every June 1 after that. The first premium is $2,536.00. The initial minimum premium is $1,536.00. This policy is issued on a select basis. Direct Beneficiary Xxxx X Xxx, spouse of the Insured Owner Xxxx X Xxx, the Insured Insured Xxxx X Xxx Age and Sex 35 Male Policy Date June 1, 1995 Policy Number 12 345 678 Plan Variable Whole Life Initial Total With Additional Protection Death Benefit $ 150,519 POLICY NUMBER 12 345 678 -LIST OF CONTRACTUAL MINIMUMS- The minimum increase in the scheduled additional premium is $100.00. The minimum unscheduled additional premium is $100.00. The minimum withdrawal amount is $250.00. TABLE OF DEDUCTIONS FROM ANNUAL PREMIUMS (see section 4.5) an amount not more than $114.00; plus an amount not more than 8% of the remainder of the premium TABLE OF DEDUCTIONS FROM ADDITIONAL PREMIUMS (see section 4.5) an amount not more than 8% TABLE OF CHARGES UNDER PREMIUM SUSPENSION (see section 7.1) if premiums are suspended as described in section 4.6. an amount of not more than $104.88 per year TABLE OF SURRENDER CHARGES (see section 8.1) Following Payment Policy of Premium Due on Surrender Year June 1, Charge 1 1995 $ 703.80 2 1996 716.10 3 1997 728.40 4 1998 740.70 5 1999 753.00 6 2000 711.00 7 2001 669.00 8 2002 627.00 9 2003 585.00 10 2004 543.00 11 2005 434.40 12 2006 325.80 13 2007 217.20 14 2008 108.60 15 and later 2009 0.00 POLICY NUMBER 12 345 678 TABLE OF COST OF INSURANCE RATES Beginning Beginning of Policy of Policy Year June 1, Rate Year June 1, Rate 1 1995 .00169 36 2030 .03463 2 1996 .00177 37 2031 .03891 3 1997 .00188 38 2032 .04256 4 1998 .00200 39 2033 .04744 5 1999 .00214 40 2034 .05292 6 2000 .00229 4...
PAYMENT OF POLICY BENEFITS. Section 10.1 Payment of Proceeds • Section 10.2 Payment Plans ADDITIONAL BENEFITS (if any) APPLICATION Whole Life Paid-up at 90 $200,000 $2,940.00 55 Years A premium is payable on June 30, 2008 and every June 30 after that. The first premium is $ 2,940.00. The minimum annual premium is $2,940.00. See Section 3.2. To determine the premium when paid more often than annually, see page 6. The Owner may elect the Specified Rate or the Variable Rate loan interest option. See Sections 7.4 through 7.6 of the Policy. The Specified Rate loan interest option was elected on the Application. This Policy is issued in a Premier (Non-Tobacco) premium classification. Insured Xxxx X. Xxx Age and Sex 35 Male Policy Date June 30, 2008 Policy Number 00 000 000 Plan Whole Life Paid-up at 90 Insurance Amount $200,000 1 2009 0 0 June 30, 2009 2 2010 1,922 8,766 November 6, 2017 3 2011 3,914 17,233 October 1, 2023 4 2012 5,969 25,382 June 18, 2028 5 2013 8,094 33,237 December 9, 2031 6 2014 10,289 40,808 October 25, 2034 7 2015 12,552 48,089 March 9, 2037 8 2016 14,881 55,082 March 9, 2039 9 2017 17,275 61,794 December 13, 2040 10 2018 19,733 68,230 July 24, 2042 11 2019 22,252 74,397 January 15, 2044 12 2020 24,838 80,318 May 29, 2045 13 2021 27,492 86,003 August 24, 2046 14 2022 30,236 91,503 October 15, 2047 15 2023 33,070 96,820 November 7, 2048 16 2024 35,987 101,944 November 6, 2049 17 2025 38,986 106,877 October 15, 2050 18 2026 42,056 111,608 September 3, 2051 19 2027 45,197 116,145 July 5, 2052 20 2028 48,398 120,483 April 19, 2053 AGE 60 2033 65,213 139,459 September 27, 2056 AGE 65 2038 83,228 154,660 September 3, 2059 AGE 70 2043 101,861 166,747 April 30, 2061 *Based on Extended Term Insurance described in Section 6.2 and amounts shown on page 3. Values are increased by Paid-up Additions and dividend accumulations and decreased by Policy Debt. Values shown at end of the Policy year do not reflect any premium due on that Policy anniversary. 0 2008 0.20443 1 2009 0.21173 44 2052 0.74256 2 2010 0.21928 45 2053 0.75622 3 2011 0.22710 46 2054 0.76947 4 2012 0.23517 47 2055 0.78223 5 2013 0.24351 48 2056 0.79456 6 2014 0.25213 49 2057 0.80648 7 2015 0.26102 50 2058 0.81794 8 2016 0.27016 51 2059 0.82886 9 2017 0.27956 52 2060 0.83919 10 2018 0.28921 53 2061 0.84886 11 2019 0.29910 54 2062 0.85785 12 2020 0.30925 55 2063 0.86615 13 2021 0.31967 56 2064 0.87375 14 2022 0.33044 57 2065 0.88093 15 2023 0.34156 58 2066 0.88769 16 2024 0.35300 59 2067 0.89403 17 2025 0.36477 60 20...
PAYMENT OF POLICY BENEFITS. We will pay the benefits under this Policy if it is still in force upon the earliest of: o Proof of death of the Insured; or o The date you surrender the Policy for its Net Cash Value; or o The Maturity Date shown on the Schedule Page. This Policy will terminate once the benefits become payable. The MATURITY DATE is the last date to which premiums can be paid and coverage continued under this Policy. If the Insured is alive on the Maturity Date and this Policy is still in force, we will pay a Maturity Benefit. If the Insured dies before the Maturity Date while this Policy is in force, we will pay a Death Benefit. Coverage will not continue to the Maturity Date if premiums paid, interest credited, and/or the investment returns in the chosen Variable Options are not sufficient to keep the Policy in force until the Maturity Date. The proceeds may be taken in a lump sum or applied under one of our settlement options. Our settlement options are described in the section following Part 12. If the proceeds are applied under a settlement option, we will issue a new contract (payment contract). The effective date of the payment contract is the date benefits become payable under this Policy.
PAYMENT OF POLICY BENEFITS. Section 14.1 Payment of the Life Insurance Benefit · Section 14.2 Surrender Proceeds UU.VULP.(1019) 2A NY Date of Issue – 1{November 1, 2019} Northwestern Mutual Flexible Premium Variable Universal Life Specified Amount: $2{350,000.00}
PAYMENT OF POLICY BENEFITS. All benefits payable by the Seller and, to the knowledge of the Seller, by any other Person that is a party to or bound by any reinsurance, coinsurance, or other similar contract with the Seller, with respect to the Reinsured Policies and the Policies subject to the Inward Reinsurance Agreements have been paid in accordance with the terms of the Reinsured Policy under which they arose, except for such benefits for which there is, in the reasonable opinion of the Seller, a reasonable basis to contest and all such contested benefits have been disclosed in Section 2.12.7 of the Seller's Disclosure Schedule.
PAYMENT OF POLICY BENEFITS. Section 14.1 Payment of the Life Insurance Benefit • Section 14.2 Surrender Proceeds UU.VULP.(1019) 2A NY
PAYMENT OF POLICY BENEFITS. Section 15.1 Payment of the Life Insurance Benefit • Section 15.2 Surrender Proceeds Date of Issue – 1{November 1, 2019} This Policy was issued in the State of 16[state]. The [state insurance department’s] phone number is: 51[(XXX)XXX-XXXX]. Northwestern Mutual Variable Universal Life Plus Specified Amount: $2{350,000.00} 3 {Waiver Benefit: The amount of the Selected Monthly Premium is ${xx,xxx.xx}}.
PAYMENT OF POLICY BENEFITS. Payment of the Life Insurance Benefit • Section 15.2 Surrender Proceeds Date of Issue – 1{November 1, 2019} This Policy was issued in the State of 15[state]. The 52[state insurance department’s] phone number is: 52[(XXX)XXX-XXXX]. Northwestern Mutual Executive Variable Universal Life Specified Amount: $2{350,000.00} 3{Waiver Benefit: The amount of the Selected Monthly Premium is ${xx,xxx.xx}} Death Benefit Option: 4{Specified Amount (Option A)} (Section 3.2) 5{The Death Benefit Guarantee was not elected.} The Guaranteed Minimum Death Benefit is 6{$350,000.00}. (Section 3.1) Death Benefit Guarantee Period: 7{5} years beginning on the Policy Date through 7{November 1, 2024}. (Section 3.5) Definition of Life Insurance Test: 8{Guideline Premium/Cash Value Corridor Test} (Section 3.2) 9{Short term premium charges of ${xx.xx} were deducted from the initial payment for coverage provided from the Date of Issue {month, day, year} to the Policy Date of {month, day, year}.} Death Benefit Guarantee Monthly Premium is $10{84.31}. (Section 3.5) The NM Strength and Stability Account Availability Date is 11{month, day, year}. (Section 7.1) The Minimum Guaranteed Annual Effective Interest Rate for the NM Strength and Stability Account Tier One Balance is 1.50%. (Section 7.2) The Minimum Guaranteed Annual Effective Interest Rate for the NM Strength and Stability Account Tier Two Balance is 1.25%. (Section 7.2) The minimum premium is $ 25.00. (Section 4.4) The minimum withdrawal amount is $ 250.00. (Section 10.5) This Policy must be in force for at least 12{36} months from the Policy Date before the Owner may change this Policy to the Paid-up Option. (Section 11.1) This Policy is issued in a 13{Premier (Non-Tobacco)} rate classification 14{using the Modified Underwriting process}. This Policy is participating. Dividends are not guaranteed. It is not expected that any dividends will be payable on this Policy. State of Issue 15{Wisconsin} Direct Beneficiary 16{Xxxx X. Xxx}, 17{daughter of the Insured} Owner 18{Xxxx X. Xxx}, 19{the Insured} Insured 20{Xxxx X. Xxx} Issue Age 22{and Sex} 23{35} 24{Male} Policy Date 21{November 1, 2019} Policy Number 25{00 000 000} Plan Northwestern Mutual Specified Amount $2{350,000.00} Executive Variable Universal Life Policy Number: 25{00 000 000} The Maximum Premium Expense Charge is the sum of the following (Section 4.2):
