Common use of Policy Loans Clause in Contracts

Policy Loans. You may obtain policy loans by Written Request after the Free Look Period, on the sole security of the Cash Surrender Value of this policy. We recommend you consult your tax advisor before requesting a policy loan. Unless you request otherwise, loan amounts will be deducted from the Investment Options on a pro rata basis. Loan Amount Available – The amount of the loan must be at least $200. The maximum amount available for a loan on any date is equal to the Accumulated Value less: • three times the most recent Monthly Deduction; • any Surrender Charge; and • any existing Policy Debt. Loan Interest – Interest will accrue daily and is due and payable in arrears at the end of each policy year at the maximum annual rate of 2.75%. We may use a lower loan interest rate. Interest not paid when due will be added to the loan principal and bear interest at the same rate. Loan Repayment – Loans may be repaid at any time while the policy is In Force. Any payment we receive from you while you have a loan will be first considered a loan repayment, unless you tell us by Written Request it is a premium payment. An amount equal to the portion of any loan repaid, but not more than the Loan Account Value, will be transferred from the Loan Account to the Investment Options according to your most recent instructions for allocation of premiums. We reserve the right to transfer repayments from the Loan Account to each Fixed Option up to the amount that was originally borrowed from that Fixed Option. Any excess over such amount will be transferred to the Variable Accounts according to your most recent instructions for allocation of premiums. Separate Account – We established the Separate Account and maintain it under the laws and regulations of our state of domicile. The assets of the Separate Account shall be valued at least as often as any policy benefits vary, but at least monthly. The Separate Account is divided into subaccounts, called Variable Accounts. Xxxxxx and realized and unrealized gains and losses from the assets of each Variable Account are credited or charged against it without regard to our other income, gains or losses. Assets may be put in our Separate Account to support this policy and other variable life policies. Assets may be put in our Separate Account for other purposes, but not to support contracts or policies other than variable life contracts or policies. The assets of our Separate Account are our property. The portion of its assets equal to the reserves and other policy liabilities with respect to our Separate Account will not be chargeable with liabilities arising out of any other business we conduct. We may transfer assets of a Variable Account in excess of the reserves and other liabilities with respect to that Variable Account to another Variable Account or to our general account. All obligations arising under the policy are general corporate obligations of ours. We do not hold ourselves out to be trustees of the Separate Account assets.

Policy Loans. You may obtain policy loans by Written Request after the Free Look Period, on the sole security of the Cash Surrender Value Loan Account of this policy. We recommend you consult your tax advisor before requesting a policy loan. Unless you request otherwise, loan Loan amounts will be deducted from the Investment Options on a pro rata basis. Loan Amount Available – The amount of the loan must be at least $200. The maximum amount available for a loan on any date is equal to the Accumulated Value less: • three Three times the most recent Monthly Deduction; Deduction • any Any Surrender Charge; and Charge • any Any existing Policy Debt. Debt Loan Interest – Interest will accrue daily and is due and payable in arrears at the end of each policy year at the maximum annual rate of 2.75%. We may use a lower loan interest rate. Interest not paid when due will be added to the loan principal and bear interest at the same rate. Loan Repayment – Loans may be repaid at any time while the policy is In Force. Any payment we receive from you while you have a loan will be first considered a loan repayment, unless you tell us by Written Request it is a premium payment. An amount equal to the portion of any loan repaid, but not more than the amount in the Loan Account ValueAccount, will be transferred from the Loan Account to the Investment Options according to your most recent instructions for allocation of premiums. We reserve the right to transfer repayments from the Loan Account to each Fixed Option up to the amount that was originally borrowed from that Fixed Option. Any excess over such amount will be transferred to the Variable Accounts according to your most recent instructions for allocation of premiums. Separate Account – We established the Separate Account and maintain it under the laws and regulations of our state of domicile. The assets of the Separate Account shall be valued at least as often as any policy benefits vary, but at least monthly. The Separate Account is divided into subaccounts, called Variable Accounts. Xxxxxx and realized and unrealized gains and losses from the assets of each Variable Account are credited or charged against it without regard to our other income, gains or losses. Assets may be put in our Separate Account to support this policy and other variable life policies. Assets may be put in our Separate Account for other purposes, but not to support contracts or policies other than variable life contracts or policies. The assets of our Separate Account are our property. The portion of its assets equal to the reserves and other policy liabilities with respect to our Separate Account will not be chargeable with liabilities arising out of any other business we conduct. We may transfer assets of a Variable Account in excess of the reserves and other liabilities with respect to that Variable Account to another Variable Account or to our P09SE5 general account. All obligations arising under the policy are general corporate obligations of ours. We do not hold ourselves out to be trustees of the Separate Account assets.

Policy Loans. You may obtain policy loans by Written Request after the Free Look Period, on the sole security of the Cash Surrender Value Loan Account of this policy. We recommend you consult your tax advisor before requesting a policy loan. Unless you request otherwise, loan amounts will be deducted from the Investment Options on a pro rata basis. Loan Amount Available – -- The amount available for a loan is equal to 90% of Accumulated Value less any Policy Debt and also less any Surrender Charges that would be imposed if the policy were surrendered on the date the loan is taken or, if greater, the result of (a x b/c)-d, where: a is the Accumulated Value less 12 times the most recent monthly deduction less any Surrender Charge on the date of the loan; b = 1 + the loan interest credited; c = 1.0355; and d = any existing Policy Debt. The amount of the a loan must be at least $200. The maximum amount available for a loan on any date is equal to the Accumulated Value less: • three times the most recent Monthly Deduction; • any Surrender Charge; and • any existing Policy Debt. Loan Interest – -- Interest will accrue daily and is due and payable in arrears at the end of each policy year at the maximum annual rate of 2.753.55%. We may use a lower loan interest rate. Interest not paid when due will be added to the loan principal and bear interest at the same raterate of interest. Loan Account -- When a loan is taken, an amount equal to the loan is transferred out of the Accumulated Value in the Investment Options into the Loan Account to secure the loan. Unless you request otherwise, loan amounts will be deducted from the Variable Accounts and the Fixed Options on a pro rata basis, up to the amount available. We will credit interest to the Loan Account as described in the Accumulated Value section. On each policy anniversary, if the amount in the Loan Account exceeds Policy Debt, the excess will be transferred from the Loan Account to the Investment Options according to your most recent instructions. If Policy Debt exceeds the amount in the Loan Account, an amount equal to such excess will be transferred from the Investment Options on a proportionate basis to the Loan Account. Loan Repayment – -- Loans may be repaid at any time while prior to lapse of this policy. An amount equal to the policy is In Forceportion of any loan repaid, but not more than the amount in the Loan Account, will be transferred from the Loan Account to the Investment Options according to your most recent instructions. We reserve the right to first transfer repayments from the Loan Account to each Fixed Option up to the amount that was originally borrowed. Any excess over such amount will be transferred to the Variable Accounts relative to your most recent instructions. Any payment we receive from you while you have a loan will be first considered a loan repayment, unless you tell us by Written Request in writing it is a premium payment. An amount equal to the portion of any loan repaid, but not more than the Loan Account Value, will be transferred from the Loan Account to the Investment Options according to your most recent instructions for allocation of premiums. We reserve the right to transfer repayments from the Loan Account to each Fixed Option up to the amount that was originally borrowed from that Fixed Option. Any excess over such amount will be transferred to the Variable Accounts according to your most recent instructions for allocation of premiums. SEPARATE ACCOUNT PROVISIONS Separate Account – -- This policy uses the Pacific Select Exec Separate Account owned by PM Group Life Insurance Company, hereafter called the "Separate Account". We established the Separate Account and maintain it under the laws and regulations of our state of domicile. The assets of the Separate Account shall be valued at least as often as any policy benefits vary, but at least monthlyArizona. The Separate Account is divided into subaccounts, called Variable Accounts. Xxxxxx and realized Realized and unrealized gains and losses from the assets of each Variable Account are credited or charged against it without regard to our other income, gains or losses. Assets may be put in our Separate Account to support this policy and other variable life policies. Assets may be put in our Separate Account for other purposes, but not to support contracts or policies other than variable life contracts or policies. The assets of our Separate Account are our property. The portion of its assets equal to the reserves and other policy liabilities with respect to our Separate Account will not be chargeable with liabilities arising out of any other business we conduct. We may transfer assets of a Variable Account in excess of the reserves and other liabilities with respect to that Variable Account to another Variable Account or to our general account. All obligations arising under the policy are general corporate obligations of ours. We do not hold ourselves out to be trustees of the Separate Account assets. We reserve the right, subject to compliance with the law then in effect, to: . change or add designated investment companies; . add, remove or combine Variable Accounts; . add, delete or make substitutions for the securities that are held or purchased by the Separate Account or any Variable Account; . register or deregister any Variable Account under the Investment Company Act of 1940; . change the classification of any Variable Account; . operate any Variable Account as a managed investment company or as a unit investment trust; . combine the assets of any Variable Account with other separate accounts or subaccounts of ours or our affiliates; . transfer the assets of any Variable Account to other separate accounts or subaccounts of ours or our affiliates; . run any Variable Account under the direction of a committee, board, or other group; . restrict or eliminate any voting rights of policy Owners with respect to any Variable Account, or other persons who have voting rights as to any Variable Account; . change the allocations permitted under the policy; . terminate and liquidate any Variable Account; and . make any other change needed to comply with law. If any of these changes result in a material change in the underlying investment of a Variable Account of our Separate Account, we will notify you of such change. Unless required by law or regulation, an investment policy may not be changed without our consent. We will not change the investment policy of the Separate Account without the approval of the Insurance Commissioner in the state of Arizona and without following filing and other procedures established by insurance regulators of the state of issue.

Policy Loans. You may obtain policy loans by Written Request after the Free Look Period, on the sole security of the Cash Surrender Value Loan Account of this policy. We recommend you consult your tax advisor before requesting LOAN AMOUNT AVAILABLE - The amount available for a loan is equal to 90% of Accumulated Value less any Policy Debt and also less any Surrender Charges that would be imposed if the policy loanwere surrendered on the date the loan is taken or, if greater, the Accumulated Value less Policy Debt less 12 times the most recent monthly deduction. Unless you request otherwise, loan amounts will be deducted from the Investment Options on a pro rata basis. Loan Amount Available – The amount of the a loan must be at least $200. The maximum amount available for a loan on any date is equal to the Accumulated Value less: • three times the most recent Monthly Deduction; • any Surrender Charge; and • any existing Policy Debt. Loan Interest – LOAN INTEREST - Interest will accrue daily and is due and payable in arrears at the end of each policy year at the maximum annual rate of 2.753.25%. We may use a lower loan interest rate. Interest not paid when due will be added to the loan principal and bear interest at the same raterate of interest. LOAN ACCOUNT - When a loan is taken, an amount equal to the loan is transferred out of the Accumulated Value in the Investment Options into the Loan Repayment – Account to secure the loan. Unless you request otherwise, loan amounts will be deducted from the Variable Accounts and the Fixed Options on a pro rata basis, up to the amount available. We will credit interest to the Loan Account as described in the Accumulated Value section. On each policy anniversary, if the amount in the Loan Account exceeds Policy Debt, the excess will be transferred from the Loan Account to the Investment Options according to your most recent instructions. If Policy Debt exceeds the amount in the Loan Account, an amount equal to such excess will be transferred from the Investment Options on a proportionate basis to the Loan Account. LOAN REPAYMENT - Loans may be repaid at any time while prior to lapse of this policy. An amount equal to the policy is In Forceportion of any loan repaid, but not more than the amount in the Loan Account, will be transferred from the Loan Account to the Investment Options according to your most recent instructions. We reserve the right to first transfer repayments from the Loan Account to each Fixed Option up to the amount that was originally borrowed. Any excess over such amount will be transferred to the Variable Accounts relative to your most recent instructions. Any payment we receive from you while you have a loan will be first considered a loan repayment, unless you tell us by Written Request in writing it is a premium payment. An amount equal to the portion of any loan repaid, but not more than the Loan Account Value, will be transferred from the Loan Account to the Investment Options according to your most recent instructions for allocation of premiums. We reserve the right to transfer repayments from the Loan Account to each Fixed Option up to the amount that was originally borrowed from that Fixed Option. Any excess over such amount will be transferred to the Variable Accounts according to your most recent instructions for allocation of premiums. Separate Account – SEPARATE ACCOUNT PROVISIONS SEPARATE ACCOUNT - We established the Separate Account and maintain it under the laws and regulations of our state of domicile. The assets of the Separate Account shall be valued at least as often as any policy benefits vary, but at least monthlyCalifornia. The Separate Account is divided into subaccounts, called Variable Accounts. Xxxxxx and realized Realized and unrealized gains and losses from the assets of each Variable Account are credited or charged against it without regard to our other income, gains gains, or losses. Assets may be put in our Separate Account to support this policy and other variable life policies. Assets may be put in our Separate Account for other purposes, but not to support contracts or policies other than variable life contracts or policies. The assets of our Separate Account are our property. The portion of its assets equal to the reserves and other policy liabilities with respect to our Separate Account will not be chargeable with liabilities arising out of any other business we conduct. We may transfer assets of a Variable Account in excess of the reserves and other liabilities with respect to that Variable Account to another Variable Account or to our general account. All obligations arising under the policy are general corporate obligations of ours. We do not hold ourselves out to be trustees of the Separate Account assets. We reserve the right, subject to compliance with the law then in effect, to: . change or add designated investment companies; . add, remove or combine Variable Accounts; . add, delete or make substitutions for the securities that are held or purchased by the Separate Account or any Variable Account; . register or deregister any Variable Account under the Investment Company Act of 1940; . change the classification of any Variable Account; . operate any Variable Account as a managed investment company or as a unit investment trust; . combine the assets of any Variable Account with other separate accounts or subaccounts of ours or our affiliate; . transfer the assets of any Variable Account to other separate accounts or subaccounts of ours or our affiliate; . run any Variable Account under the direction of a committee, board, or other group; . restrict or eliminate any voting rights of policy Owners with respect to any Variable Account, or other persons who have voting rights as to any Variable Account; . change the allocations permitted under the policy; . terminate and liquidate any Variable Account; and . make any other change needed to comply with law. If any of these changes result in a material change in the underlying investment of a Variable Account of our Separate Account, we will notify you of such change. Unless required by law or regulation, an investment policy may not be changed without our consent. We will not change the investment policy of the Separate Account without the approval of the Insurance Commissioner in the state of California and without following filing and other procedures established by insurance regulators of the state of issue.

Policy Loans. You may obtain policy loans by Written Request after the Free Look Period, on the sole security of the Cash Surrender Value Loan Account of this policy. We recommend you consult your tax advisor before requesting a policy loan. Unless you request otherwise, loan amounts will be deducted from the Investment Options on a pro rata basis. Loan Amount Available – Available--The amount available for a loan is equal to 90% of Accumulated Value less any Policy Debt and also less any Surrender Charges that would be imposed if the policy were surrendered on the date the loan is taken or, if greater, the Accumulated Value less Policy Debt less 12 times the most recent monthly deduction. The amount of the a loan must be at least $200. The maximum amount available for a loan on any date is equal to the Accumulated Value less: • three times the most recent Monthly Deduction; • any Surrender Charge; and • any existing Policy Debt. Loan Interest – Interest--Interest will accrue daily and is due and payable in arrears at the end of each policy year at the maximum annual rate of 2.753.25%. We may use a lower loan interest rate. Interest not paid when due will be added to the loan principal and bear interest at the same raterate of interest. Loan Repayment – Account--When a loan is taken, an amount equal to the loan is transferred out of the Accumulated Value in the Investment Options into the Loan Account to secure the loan. Unless you request otherwise, loan amounts will be deducted from the Variable Accounts and the Fixed Options on a pro rata basis, up to the amount available. We will credit interest to the Loan Account as described in the Accumulated Value section. On each policy anniversary, if the amount in the Loan Account exceeds Policy Debt, the excess will be transferred from the Loan Account to the Investment Options according to your most recent instructions. If Policy Debt exceeds the amount in the Loan Account, an amount equal to such excess will be transferred from the Investment Options on a proportionate basis to the Loan Account. Loan Repayment--Loans may be repaid at any time while prior to lapse of this policy. An amount equal to the policy is In Forceportion of any loan repaid, but not more than the amount in the Loan Account, will be transferred from the Loan Account to the Investment Options according to your most recent instructions. We reserve the right to first transfer repayments from the Loan Account to each Fixed Option up to the amount that was originally borrowed. Any excess over such amount will be transferred to the Variable Accounts relative to your most recent instructions. Any payment we receive from you while you have a loan will be first considered a loan repayment, unless you tell us by Written Request in writing it is a premium payment. An amount equal to the portion of any loan repaid, but not more than the Loan Account Value, will be transferred from the Loan Account to the Investment Options according to your most recent instructions for allocation of premiums. We reserve the right to transfer repayments from the Loan Account to each Fixed Option up to the amount that was originally borrowed from that Fixed Option. Any excess over such amount will be transferred to the Variable Accounts according to your most recent instructions for allocation of premiums. SEPARATE ACCOUNT PROVISIONS Separate Account – Account--We established the Separate Account and maintain it under the laws and regulations of our state of domicile. The assets of the Separate Account shall be valued at least as often as any policy benefits vary, but at least monthlyCalifornia. The Separate Account is divided into subaccounts, called Variable Accounts. Xxxxxx and realized Realized and unrealized gains and losses from the assets of each Variable Account are credited or charged against it without regard to our other income, gains gains, or losses. Assets may be put in our Separate Account to support this policy and other variable life policies. Assets may be put in our Separate Account for other purposes, but not to support contracts or policies other than variable life contracts or policies. The assets of our Separate Account are our property. The portion of its assets equal to the reserves and other policy liabilities with respect to our Separate Account will not be chargeable with liabilities arising out of any other business we conduct. We may transfer assets of a Variable Account in excess of the reserves and other liabilities with respect to that Variable Account to another Variable Account or to our general account. All obligations arising under the policy are general corporate obligations of ours. We do not hold ourselves out to be trustees of the Separate Account assets. We reserve the right, subject to compliance with the law then in effect, to: . change or add designated investment companies; . add, remove or combine Variable Accounts; . add, delete or make substitutions for the securities that are held or purchased by the Separate Account or any Variable Account; . register or deregister any Variable Account under the Investment Company Act of 1940; . change the classification of any Variable Account; . operate any Variable Account as a managed investment company or as a unit- investment trust; . combine the assets of any Variable Account with other separate accounts or subaccounts of ours or our affiliate; . transfer the assets of any Variable Account to other separate accounts or subaccounts of ours or our affiliate; . run any Variable Account under the direction of a committee, board, or other group; . restrict or eliminate any voting rights of policy Owners with respect to any Variable Account, or other persons who have voting rights as to any Variable Account; . change the allocations permitted under the policy; . terminate and liquidate any Variable Account; and . make any other change needed to comply with law. If any of these changes result in a material change in the underlying investment of a Variable Account of our Separate Account, we will notify you of such change. Unless required by law or regulation, an investment policy may not be changed without our consent. We will not change the investment policy of the Separate Account without the approval of the Insurance Commissioner in the state of California and without following filing and other procedures established by insurance regulators of the state of issue.

Policy Loans. You may obtain policy loans by Written Request after the Free Look Period, on the sole security of the Cash Surrender Value Loan Account of this policy. We recommend you consult your tax advisor before requesting a policy loan. Unless you request otherwise, loan amounts will be deducted from the Investment Options on a pro rata basis. Loan Amount Available – -- The amount available for a loan is equal to 90% of Accumulated Value less any Policy Debt and also less any Surrender Charges that would be imposed if the policy were surrendered on the date the loan is taken or, if greater, the result of (a x b/c)-d, where: a is the Accumulated Value less 12 times the most recent monthly deduction less any Surrender Charge on the date of the loan; b = 1 + the loan interest credited; c = 1.0355; and d = any existing Policy Debt. The amount of the a loan must be at least $200. The maximum amount available for a loan on any date is equal to the Accumulated Value less: • three times the most recent Monthly Deduction; • any Surrender Charge; and • any existing Policy Debt. Loan Interest – -- Interest will accrue daily and is due and payable in arrears at the end of each policy year at the maximum annual rate of 2.753.55%. We may use a lower loan interest rate. Interest not paid when due will be added to the loan principal and bear interest at the same raterate of interest. Loan Account -- When a loan is taken, an amount equal to the loan is transferred out of the Accumulated Value in the Investment Options into the Loan Account to secure the loan. Unless you request otherwise, loan amounts will be deducted from the Variable Accounts and the Fixed Options on a pro rata basis, up to the amount available. We will credit interest to the Loan Account as described in the Accumulated Value section. On each policy anniversary, if the amount in the Loan Account exceeds Policy Debt, the excess will be transferred from the Loan Account to the Investment Options according to your most recent instructions. If Policy Debt exceeds the amount in the Loan Account, an amount equal to such excess will be transferred from the Investment Options on a proportionate basis to the Loan Account. Loan Repayment – -- Loans may be repaid at any time while prior to lapse of this policy. An amount equal to the policy is In Forceportion of any loan repaid, but not more than the amount in the Loan Account, will be transferred from the Loan Account to the Investment Options according to your most recent instructions. We reserve the right to first transfer repayments from the Loan Account to each Fixed Option up to the amount that was originally borrowed. Any excess over such amount will be transferred to the Variable Accounts relative to your most recent instructions. Any payment we receive from you while you have a loan will be first considered a loan repayment, unless you tell us by Written Request in writing it is a premium payment. An amount equal to the portion of any loan repaid, but not more than the Loan Account Value, will be transferred from the Loan Account to the Investment Options according to your most recent instructions for allocation of premiums. We reserve the right to transfer repayments from the Loan Account to each Fixed Option up to the amount that was originally borrowed from that Fixed Option. Any excess over such amount will be transferred to the Variable Accounts according to your most recent instructions for allocation of premiums. SEPARATE ACCOUNT PROVISIONS Separate Account – We established -- This policy uses the Pacific Select Exec Separate Account and maintain it under owned by Pacific Life & Annuity Company, hereafter called the laws and regulations of our state of domicile"Separate Account". The assets of the Separate Account shall be valued at least as often as any policy benefits vary, but at least monthly. We established the Separate Account and maintain it under the laws and regulations of Arizona and New York. The Separate Account is divided into subaccounts, called Variable Accounts. Xxxxxx and realized Realized and unrealized gains and losses from the assets of each Variable Account are credited or charged against it without regard to our other income, gains or losses. Assets may be put in our Separate Account to support this policy and other variable life policies. Assets may be put in our Separate Account for other purposes, but not to support contracts or policies other than variable life contracts or policies. The assets of our Separate Account are our property. The portion of its assets equal to the reserves and other policy liabilities with respect to our Separate Account will not be chargeable with liabilities arising out of any other business we conduct. We may transfer assets of a Variable Account in excess of the reserves and other liabilities with respect to that Variable Account to another Variable Account or to our general account. All obligations arising under the policy are general corporate obligations of ours. We do not hold ourselves out to be trustees of the Separate Account assets.

Policy Loans. You may obtain policy loans by Written Request after the Free Look Period, on the sole security of the Cash Surrender Value Loan Account of this policy. We recommend you consult your tax advisor before requesting Loan Amount Available - The amount available for a loan is equal to 90% of Accumulated Value, less any Policy Debt and also less and Surrender Charges that would be imposed if the policy were surrendered on the date the loan is taken or, if greater, the result of (a x b/c)-d, where: a is the Accumulation Value less 12 times the most recent monthly deduction; b = 1 plus the rate of interest credited to the Loan Account at the time of the loan; c = 1 plus the rate of interest charged on the loan at the time of the loan; and d = any existing Policy Debt. The amount of a loan must be at least $200. Loan Interest - Interest will accrue daily and is payable in arrears at the annual rate of 3.55%. Interest not paid when due will be added to the loan principal and bear interest at the same rate of interest. Loan Account - When a loan is taken, an amount equal to the loan is transferred out of the Accumulated Value in the Investment Options into the Loan Account to secure the loan. Unless you request otherwise, loan amounts will be deducted from the Investment Options on a pro rata basis, up to the amount available. We will credit interest to the Loan Amount Available – The amount of the loan must be at least $200. The maximum amount available for a loan on any date is equal to Account as described in the Accumulated Value less: • three times section. On each policy anniversary, if the amount in the Loan Account exceeds Policy Debt, the excess will be transferred from the Loan Account to the Investment Options according to your most recent Monthly Deduction; • any Surrender Charge; and • any existing instructions. If Policy DebtDebt exceeds the amount in the Loan Account. Loan Interest – Interest will accrue daily and is due and payable in arrears at the end of each policy year at the maximum annual rate of 2.75%. We may use a lower loan interest rate. Interest not paid when due an amount equal to such excess will be added transferred from the Investment Options on a proportionate basis to the loan principal and bear interest at the same rateLoan Account. Loan Repayment – - Loans may be repaid at any time while prior to lapse of this policy. An amount equal to the policy is In Forceportion of any loan repaid, but not more than the amount in the Loan Account, will be transferred from the Loan Account to the Investment Options according to your most recent instructions. We reserve the right to first transfer repayments from the Loan Account to each Fixed Option up to the amount that was originally borrowed. Any excess over such amount will be transferred to the Variable Accounts according to your most recent instructions. Any payment we receive from you while you have a loan will be first considered a loan repayment, unless you tell us by Written Request in writing it is a premium payment. An amount equal to the portion of any loan repaid, but not more than the Loan Account Value, will be transferred from the Loan Account to the Investment Options according to your most recent instructions for allocation of premiums. We reserve the right to transfer repayments from the Loan Account to each Fixed Option up to the amount that was originally borrowed from that Fixed Option. Any excess over such amount will be transferred to the Variable Accounts according to your most recent instructions for allocation of premiums. Separate Account – We established the Separate Account and maintain it under the laws and regulations of our state of domicile. The assets of the Separate Account shall be valued at least as often as any policy benefits vary, but at least monthly. The Separate Account is divided into subaccounts, called Variable Accounts. Xxxxxx and realized and unrealized gains and losses from the assets of each Variable Account are credited or charged against it without regard to our other income, gains or losses. Assets may be put in our Separate Account to support this policy and other variable life policies. Assets may be put in our Separate Account for other purposes, but not to support contracts or policies other than variable life contracts or policies. The assets of our Separate Account are our property. The portion of its assets equal to the reserves and other policy liabilities with respect to our Separate Account will not be chargeable with liabilities arising out of any other business we conduct. We may transfer assets of a Variable Account in excess of the reserves and other liabilities with respect to that Variable Account to another Variable Account or to our general account. All obligations arising under the policy are general corporate obligations of ours. We do not hold ourselves out to be trustees of the Separate Account assets.

Policy Loans. Policy Loans - You may obtain policy loans by Written Request after the Free Look Period, on the sole security of the Cash Surrender Value Loan Account of this policy. We recommend you consult your tax advisor before requesting a policy loan. Unless you request otherwise, loan amounts will be deducted from the Investment Options on a pro rata basis. Loan Amount Available – - The amount available for a loan is equal to 90% of Accumulated Value, less any Policy Debt and also less any Surrender Charge that would be imposed if the policy were surrendered on the date the loan is taken or, if greater, the result of (a x b/c)-d, where: a = the Accumulated Value less 12 times the most recent monthly deduction less any Surrender Charge on the date of the loan; b = 1 + rate of interest credited on the Loan Account on the date of the loan; c = 1.0325; and d = any existing Policy Debt. The amount of the a loan must be at least $200. The maximum amount available for a loan on any date is equal to the Accumulated Value less: • three times the most recent Monthly Deduction; • any Surrender Charge; and • any existing Policy Debt. Loan Interest – - Interest will accrue daily and is due and payable in arrears at the end of each policy year at the maximum annual rate of 2.753.25%. We may use a lower loan interest rate. Interest not paid when due will be added to the loan principal and bear interest at the same raterate of interest. Loan Account - When a loan is taken, an amount equal to the loan is transferred out of the Accumulated Value in the Investment Options into the Loan Account to secure the loan. Such transfers will be done on a pro rata basis from your Accumulated Value in the Investment Options, unless you request a specific allocation. We will credit interest to the Loan Account as described in the Accumulated Value section. On each policy anniversary, if the amount in the Loan Account exceeds Policy Debt, the excess will be transferred from the Loan Account to the Investment Options according to your most recent instructions for allocation of premium. If Policy Debt exceeds the amount in the Loan Account, the excess will be transferred from the Investment Options on a proportionate basis to the Loan Account. Loan Repayment – - Loans may be repaid at any time while prior to lapse of this policy. An amount equal to the policy is In Forceportion of any loan repaid, but not more than the amount in the Loan Account, will be transferred from the Loan Account to the Investment Options according to your most recent instructions for allocation of premium. We reserve the right to first transfer repayments from the Loan Account to each Fixed Option up to the amount that was originally borrowed. Any excess over such amount will be transferred to the Variable Accounts relative to your most recent instructions. Any payment we receive from you while you have a loan will be first considered a loan repayment, unless you tell us by Written Request in writing it is a premium payment. An amount equal to the portion of any loan repaid, but not more than the Loan Account Value, will be transferred from the Loan Account to the Investment Options according to your most recent instructions for allocation of premiums. We reserve the right to transfer repayments from the Loan Account to each Fixed Option up to the amount that was originally borrowed from that Fixed Option. Any excess over such amount will be transferred to the Variable Accounts according to your most recent instructions for allocation of premiums. SEPARATE ACCOUNT PROVISIONS Separate Account – - We established the Separate Account and maintain it under the laws and regulations of our state of domicile. The assets of the Separate Account shall be valued at least as often as any policy benefits vary, but at least monthlyCalifornia. The Separate Account is divided into subaccounts, called Variable Accounts. Xxxxxx Income and realized and unrealized gains and losses from the assets of each Variable Account are credited or charged against it without regard to our other income, gains or losses. Assets may be put in our Separate Account to support this policy and other variable life policies. Assets may be put in our Separate Account for other purposes, but not to support contracts or policies other than variable life contracts or policies. The assets of our Separate Account are our property. The portion of its assets equal to the reserves and other policy liabilities with respect to our Separate Account will not be chargeable with liabilities arising out of any other business we conduct. We may transfer assets of a Variable Account in excess of the reserves and other liabilities with respect to that Variable Account to another Variable Account or to our general account. All obligations arising under the policy are general corporate obligations of ours. We do not hold ourselves out to be trustees of the Separate Account assets. Variable Accounts - Each Variable Account may invest its assets in a separate class of shares of a designated investment company or companies. The Variable Accounts of our Separate Account that were available for your initial allocations are shown in the Policy Specifications. From time to time, we may make other Variable Accounts available to you. We will provide you with written notice of all material details including investment objectives and all charges. We reserve the right, subject to compliance with the law then in effect, to: . change or add designated investment companies; . add, remove or combine Variable Accounts; . add, delete or make substitutions for the securities that are held or purchased by the Separate Account or any Variable Account; . register or deregister any Variable Account under the Investment Company Act of 1940; . change the classification of any Variable Account; . operate any Variable Account as a managed investment company or as a unit investment trust; . combine the assets of any Variable Account with other separate accounts or subaccounts of ours or our affiliates; . transfer the assets of any Variable Account to other separate accounts or subaccounts of ours or our affiliates; . run any Variable Account under the direction of a committee, board, or other group; . restrict or eliminate any voting rights of policy Owners with respect to any Variable Account, or other persons who have voting rights as to any Variable Account; . change the allocations permitted under the policy; . terminate and liquidate any Variable Account; and . make any other change needed to comply with law. If any of these changes result in a material change in the underlying investment of a Variable Account of our Separate Account, we will notify you of such change. Unless required by law or regulation, an investment policy may not be changed without our consent. We will not change the investment policy of the Separate Account without the approval of the Insurance Commissioner in the state of California and without following filing and other procedures established by insurance regulators of the state of issue.

Policy Loans. Policy Loans - You may obtain policy loans by Written Request after the Free Look Period, on the sole security of the Cash Surrender Value Loan Account of this policy. We recommend you consult your tax advisor before requesting a policy loan. Unless you request otherwise, loan amounts will be deducted from the Investment Options on a pro rata basis. Loan Amount Available – - The amount of the a loan must be at least $200. The maximum amount available for a loan on any date is equal to 90% of Accumulated Value, less any Policy Debt and also less any Surrender Charge that would be imposed if the policy were surrendered on the date the loan is taken or, if greater, the result of (a x b/c)-d, where: a = the Accumulated Value less: • three less 12 times the most recent Monthly Deduction; • monthly deduction less any Surrender ChargeCharge on the date of the loan; b = 1 + rate of interest credited on the Loan Account on the date of the loan; c = 1.0325; and • d = any existing Policy Debt. Loan Interest – - Interest will accrue daily and is due and payable in arrears at the end of each policy year at the maximum annual rate of 2.753.25%. We may use a lower loan interest rate. Interest not paid when due will be added to the loan principal and bear interest at the same raterate of interest. Loan Account - When a loan is taken, an amount equal to the loan is transferred out of the Accumulated Value in the Investment Options into the Loan Account to secure the loan. Such transfers will be done on a pro rata basis from your Accumulated Value in the Investment Options, unless you request a specific allocation. We will credit interest to the Loan Account as described in the Accumulated Value section. On each policy anniversary, if the amount in the Loan Account exceeds Policy Debt, the excess will be transferred from the Loan Account to the Investment Options according to your most recent allocation instructions for allocation of premium. If Policy Debt exceeds the amount in the Loan Account, the excess will be transferred from the Investment Options on a proportionate basis to the Loan Account. Loan Repayment – - Loans may be repaid at any time while prior to lapse of this policy. An amount equal to the policy is In Forceportion of any loan repaid, but not more than the amount in the Loan Account, will be transferred from the Loan Account to the Investment Options according to your most recent allocation instructions for allocation of premium. We reserve the right to first transfer repayments from the Loan Account to each Fixed Option up to the amount that was originally borrowed. Any excess over such amount will be transferred to the Variable Accounts relative to your most recent allocation instructions. Any payment we receive from you while you have a loan will be first considered a loan repayment, unless you tell us by Written Request in writing it is a premium payment. An amount equal to the portion of any loan repaid, but not more than the Loan Account Value, will be transferred from the Loan Account to the Investment Options according to your most recent instructions for allocation of premiums. We reserve the right to transfer repayments from the Loan Account to each Fixed Option up to the amount that was originally borrowed from that Fixed Option. Any excess over such amount will be transferred to the Variable Accounts according to your most recent instructions for allocation of premiums. SEPARATE ACCOUNT PROVISIONS Separate Account – - We established the Separate Account and maintain it under the laws and regulations of our state of domicileCalifornia. The assets of the Separate Account shall be valued at least as often as any policy benefits vary, but at least monthly. The Separate Account is divided into subaccounts, called Variable Accounts. Xxxxxx Income and realized and unrealized gains and losses from the assets of each Variable Account are credited or charged against it without regard to our other income, gains or losses. Assets may be put in our Separate Account to support this policy and other variable life policies. Assets may be put in our Separate Account for other purposes, but not to support contracts or policies other than variable life contracts or policies. The assets of our Separate Account are our property. The portion of its assets equal to the reserves and other policy liabilities with respect to our Separate Account will not be chargeable with liabilities arising out of any other business we conduct. We may transfer assets of a Variable Account in excess of the reserves and other liabilities with respect to that Variable Account to another Variable Account or to our general account. All obligations arising under the policy are general corporate obligations of ours. We do not hold ourselves out to be trustees of the Separate Account assets. Variable Accounts - Each Variable Account may invest its assets in a separate class of shares of a designated investment company or companies. The Variable Accounts of our Separate Account that were available for your initial allocations are shown in your application for this policy. From time to time, we may make other Variable Accounts available to you. We will provide you with written notice of all material details including investment objectives and all charges. We reserve the right, subject to compliance with the law then in effect, to: .. change or add designated investment companies; .. add, remove or combine Variable Accounts; .. add, delete or make substitutions for the securities that are held or purchased by the Separate Account or any Variable Account; .. register or deregister any Variable Account under the Investment Company Act of 1940; .. change the classification of any Variable Account; .. operate any Variable Account as a managed investment company or as a unit investment trust; .. combine the assets of any Variable Account with other separate accounts or subaccounts of ours or our affiliates; o transfer the assets of any Variable Account to other separate accounts or subaccounts of ours or our affiliates; .. run any Variable Account under the direction of a committee, board, or other group; .. restrict or eliminate any voting rights of policy Owners with respect to any Variable Account, or other persons who have voting rights as to any Variable Account; .. change the allocations permitted under the policy; .. terminate and liquidate any Variable Account; and .. make any other change needed to comply with law. If any of these changes result in a material change in the underlying investment of a Variable Account of our Separate Account, we will notify you of such change. Unless required by law or regulation, an investment policy may not be changed without our consent. We will not change the investment policy of the Separate Account without the approval of the Insurance Commissioner in the state of California, and the approval process is on file with the Commissioner.

Policy Loans. You may obtain policy loans by Written Request after the Free Look Period, on the sole security of the Cash Surrender Value Loan Account of this policy. We recommend you consult your tax advisor before requesting a policy loan. Loan Amount Available — The amount available for a policy loan is equal to the Net Cash Surrender Value. Loan Interest — Interest will accrue daily and is payable in arrears at the annual rate of 3.55%. Interest not paid when due will be added to the loan principal and bear interest at the same rate of interest. Loan Account — When a loan is taken, an amount equal to the loan is transferred out of the Accumulated Value in the Investment Options into the Loan Account to secure the loan. Unless you request otherwise, loan amounts will be deducted from the Investment Options on a pro rata basis, up to the amount available. We will credit interest to the Loan Amount Available – The amount of the loan must be at least $200. The maximum amount available for a loan on any date is equal to Account as described in the Accumulated Value less: • three times section. On each policy anniversary, if the amount in the Loan Account exceeds Policy Debt, the excess will be transferred from the Loan Account to the Investment Options according to your most recent Monthly Deduction; • any Surrender Charge; and • any existing instructions. If Policy Debt. Debt exceeds the amount in the Loan Interest – Interest will accrue daily and is due and payable in arrears at the end of each policy year at the maximum annual rate of 2.75%. We may use a lower loan interest rate. Interest not paid when due Account, an amount equal to such excess will be added transferred from the Investment Options on a proportionate basis to the loan principal and bear interest at the same rateLoan Account. Loan Repayment – — Loans may be repaid at any time while prior to lapse of this policy. An amount equal to the policy is In Forceportion of any loan repaid, but not more than the amount in the Loan Account, will be transferred from the Loan Account to the Investment Options according to your most recent instructions. We reserve the right to first transfer repayments from the Loan Account to each Fixed Option up to the amount that was originally borrowed. Any excess over such amount will be transferred to the Variable Accounts according to your most recent instructions. Any payment we receive from you while you have a loan will be first considered a loan repayment, unless you tell us by Written Request in writing it is a premium payment. An amount equal to the portion of any loan repaid, but not more than the Loan Account Value, will be transferred from the Loan Account to the Investment Options according to your most recent instructions for allocation of premiums. We reserve the right to transfer repayments from the Loan Account to each Fixed Option up to the amount that was originally borrowed from that Fixed Option. Any excess over such amount will be transferred to the Variable Accounts according to your most recent instructions for allocation of premiums. Separate Account – — We established the Separate Account and maintain it under the laws and regulations of our state of domicileArizona and New York. The assets of the Separate Account shall be valued at least as often as any policy benefits vary, but at least monthly. The Separate Account is divided into subaccounts, called Variable Accounts. Xxxxxx Ixxxxx and realized and unrealized gains and losses from the assets of each Variable Account are credited or charged against it without regard to our other income, gains or losses. Assets may be put in our Separate Account to support this policy and other variable life policies. Assets may be put in our Separate Account for other purposes, but not to support contracts or policies other than variable life contracts or policies. The assets of our Separate Account are our property. The portion of its assets equal to the reserves and other policy liabilities with respect to our Separate Account will not be chargeable with liabilities arising out of any other business we conduct. We may transfer assets of a Variable Account in excess of the reserves and other liabilities with respect to that Variable Account to another Variable Account or to our general account. All obligations arising under the policy are general corporate obligations of ours. We do not hold ourselves out to be trustees of the Separate Account assets.

Policy Loans. Policy Loans - You may obtain policy loans by Written Request after the Free Look Period, on the sole security of the Cash Surrender Value Loan Account of this policy. We recommend you consult your tax advisor before requesting a policy loan. Unless you request otherwise, loan amounts will be deducted from the Investment Options on a pro rata basis. Loan Amount Available – - The amount of the a loan must be at least $200. The maximum amount available for a loan on any date is equal to 90% of Accumulated Value, less any Policy Debt and also less any Surrender Charge that would be imposed if the policy were surrendered on the date the loan is taken or, if greater, the result of (a x b/c)-d, where: a = the Accumulated Value less: • three less 12 times the most recent Monthly Deduction; • monthly deduction less any Surrender ChargeCharge on the date of the loan; b = 1 + rate of interest credited on the Loan Account on the date of the loan; c = 1.0325; and • d = any existing Policy Debt. Loan Interest – - Interest will accrue daily and is due and payable in arrears at the end of each policy year at the maximum annual rate of 2.753.25%. We may use a lower loan interest rate. Interest not paid when due will be added to the loan principal and bear interest at the same raterate of interest. Loan Account - When a loan is taken, an amount equal to the loan is transferred out of the Accumulated Value in the Investment Options into the Loan Account to secure the loan. Such transfers will be done on a pro rata basis from your Accumulated Value in the Investment Options, unless you request a specific allocation. We will credit interest to the Loan Account as described in the Accumulated Value section. On each policy anniversary, if the amount in the Loan Account exceeds Policy Debt, the excess will be transferred from the Loan Account to the Investment Options according to your most recent allocation instructions for allocation of premium. If Policy Debt exceeds the amount in the Loan Account, the excess will be transferred from the Investment Options on a proportionate basis to the Loan Account. Loan Repayment – - Loans may be repaid at any time while prior to lapse of this policy. An amount equal to the policy is In Forceportion of any loan repaid, but not more than the amount in the Loan Account, will be transferred from the Loan Account to the Investment Options according to your most recent allocation instructions for allocation of premium. We reserve the right to first transfer repayments from the Loan Account to each Fixed Option up to the amount that was originally borrowed. Any excess over such amount will be transferred to the Variable Accounts relative to your most recent allocation instructions. Any payment we receive from you while you have a loan will be first considered a loan repayment, unless you tell us by Written Request in writing it is a premium payment. An amount equal to the portion of any loan repaid, but not more than the Loan Account Value, will be transferred from the Loan Account to the Investment Options according to your most recent instructions for allocation of premiums. We reserve the right to transfer repayments from the Loan Account to each Fixed Option up to the amount that was originally borrowed from that Fixed Option. Any excess over such amount will be transferred to the Variable Accounts according to your most recent instructions for allocation of premiums. SEPARATE ACCOUNT PROVISIONS Separate Account – - We established the Separate Account and maintain it under the laws and regulations of our state of domicileCalifornia. The assets of the Separate Account shall be valued at least as often as any policy benefits vary, but at least monthly. The Separate Account is divided into subaccounts, called Variable Accounts. Xxxxxx Income and realized and unrealized gains and losses from the assets of each Variable Account are credited or charged against it without regard to our other income, gains or losses. Assets may be put in our Separate Account to support this policy and other variable life policies. Assets may be put in our Separate Account for other purposes, but not to support contracts or policies other than variable life contracts or policies. The assets of our Separate Account are our property. The portion of its assets equal to the reserves and other policy liabilities with respect to our Separate Account will not be chargeable with liabilities arising out of any other business we conduct. We may transfer assets of a Variable Account in excess of the reserves and other liabilities with respect to that Variable Account to another Variable Account or to our general account. All obligations arising under the policy are general corporate obligations of ours. We do not hold ourselves out to be trustees of the Separate Account assets. Variable Accounts - Each Variable Account may invest its assets in a separate class of shares of a designated investment company or companies. The Variable Accounts of our Separate Account that were available for your initial allocations are shown in your application for this policy. From time to time, we may make other Variable Accounts available to you. We will provide you with written notice of all material details including investment objectives and all charges. We reserve the right, subject to compliance with the law then in effect, to: . change or add designated investment companies; . add, remove or combine Variable Accounts; . add, delete or make substitutions for the securities that are held or purchased by the Separate Account or any Variable Account; . register or deregister any Variable Account under the Investment Company Act of 1940; . change the classification of any Variable Account; . operate any Variable Account as a managed investment company or as a unit investment trust; . combine the assets of any Variable Account with other separate accounts or subaccounts of ours or our affiliates; . transfer the assets of any Variable Account to other separate accounts or subaccounts of ours or our affiliates; . run any Variable Account under the direction of a committee, board, or other group; . restrict or eliminate any voting rights of policy Owners with respect to any Variable Account, or other persons who have voting rights as to any Variable Account; . change the allocations permitted under the policy; . terminate and liquidate any Variable Account; and . make any other change needed to comply with law. If any of these changes result in a material change in the underlying investment of a Variable Account of our Separate Account, we will notify you of such change. Unless required by law or regulation, an investment policy may not be changed without our consent. We will not change the investment policy of the Separate Account without the approval of the Insurance Commissioner in the state of California, and the approval process is on file with the Commissioner.

Policy Loans. You may obtain policy loans Policy Loans After the Right to Return the Policy period you can borrow all or part of the Loan Value of the Policy by Written Request after written request to the Free Look Period, Company. Policy Loans are made on the sole security of the Cash Surrender Policy. The amount you can borrow at any time is equal to the Loan Value of this policy. We recommend you consult your tax advisor before requesting a policy loanless any Policy Loan Balance at that time. Unless you request otherwise, loan amounts Policy Loans will be deducted from reduce first, the Investment Options Policy's share of the sub-accounts proportionately and second, the Policy's portion of the Fixed Account, except as noted below in the Interest on a pro rata basisLoans; Policy Loan Balance provision. Loan Amount Available – The Assets equal to the amount of the loan must Loan: . Will be transferred to the general account of the Company; and . Will earn interest at least $200the effective rate per year of not less than: the Policy Loan Interest Rate; less 1.5% Policy Loans, whether or not repaid, can have a permanent effect on Cash Values and Death Benefits. While a Policy Loan exists, neither Minimum Guaranteed Death Benefit will be in effect. Loan Value The Loan Value of the Policy on the date the Loan is made is equal to: . 90% of the Cash Value of the Policy projected to the next policy anniversary or, if earlier, to the next Planned Premium Date; LESS . The maximum amount available for Surrender Charge that would apply upon surrender (whether or not there will be a surrender) on the next Planned Premium Date or, if greater, on the date the loan on any date is equal made; LESS . Loan interest to the Accumulated next loan interest due date. The Cash Value less: • three times will be projected with interest at the most recent Monthly Deductioneffective rate per year of 1.5% less than the Policy Loan Interest Rate. Interest on Loans; • Policy Loan Balance Interest will be charged on Policy Loans at the Policy Loan Interest Rate shown in Section 1. Interest accrues daily. The Policy Loan Balance at any Surrender Charge; and • any existing time means Policy DebtLoans outstanding plus interest accrued to date. Loan Interest – Interest will accrue daily and interest is due and payable in arrears at on the end of policy anniversary each policy year at the maximum annual rate of 2.75%year. We may use a lower loan Loan interest rate. Interest not paid when due will be added to the Loan and interest will be charged on it; when loan principal interest is added to the Loan, the Policy's share of the sub-accounts and bear interest at the same ratePolicy's portion of the Fixed Account will be reduced proportionately. Loan Repayment – of Loans may Policy Loans can be repaid to the Company at any time while the policy is In Forcein whole or in part. Any payment we receive from you while you have a loan Loan repayments will be first considered a loan repaymentallocated: first, to repay the Loans made against the Fixed Account; and second, unless you tell us by Written Request it request otherwise, to repay the Loans made against the sub-accounts in the same proportion as the Policy is a premium paymentinvested in the sub-accounts. An amount equal The rate of interest for each loan repayment allocated to the portion of any loan repaid, but not more than the Loan Fixed Account Value, will be transferred from the Loan Account lesser of: the rate set by the Company in advance for the date the loan repayment is allocated to the Investment Options according to your most recent instructions Fixed Account; and the effective interest rate (see Fixed Account Interest) for allocation of premiums. We reserve the right to transfer repayments from Policy on the Loan Account to each Fixed Option up to the amount that was originally borrowed from that Fixed Option. Any excess over such amount will be transferred to the Variable Accounts according to your most recent instructions for allocation of premiums. Separate Account – We established the Separate Account and maintain it under the laws and regulations of our state of domicile. The assets date of the Separate Account shall be valued at least as often as any policy benefits vary, but at least monthly. The Separate Account is divided into subaccounts, called Variable Accounts. Xxxxxx and realized and unrealized gains and losses from the assets of each Variable Account are credited or charged against it without regard to our other income, gains or losses. Assets may be put in our Separate Account to support this policy and other variable life policies. Assets may be put in our Separate Account for other purposes, but not to support contracts or policies other than variable life contracts or policies. The assets of our Separate Account are our property. The portion of its assets equal to the reserves and other policy liabilities with respect to our Separate Account will not be chargeable with liabilities arising out of any other business we conduct. We may transfer assets of a Variable Account in excess of the reserves and other liabilities with respect to that Variable Account to another Variable Account or to our general account. All obligations arising under the policy are general corporate obligations of ours. We do not hold ourselves out to be trustees of the Separate Account assetsrepayment.

Policy Loans. Policy Loans - You may obtain policy loans by Written Request after the Free Look Period, on the sole security of the Cash Surrender Value Loan Account of this policy. We recommend you consult your tax advisor before requesting a policy loan. Unless you request otherwise, loan amounts will be deducted from the Investment Options on a pro rata basis. Loan Amount Available – - The amount available for a loan is equal to 90% of Accumulated Value, less any Policy Debt and also less any Surrender Charges that would be imposed if the policy were surrendered on the date the loan is taken or, if greater, the result of (a x b/c)-d, where: a is the Accumulated Value less 12 times the most recent monthly deduction less any Surrender Charge on the date of the loan; b = 1 + rate of loan interest credited at the time of the loan; c = 1.0355; and d = any existing Policy Debt. The amount of the a loan must be at least $200. The maximum amount available for a loan on any date is equal to the Accumulated Value less: • three times the most recent Monthly Deduction; • any Surrender Charge; and • any existing Policy Debt. Loan Interest – - Interest will accrue daily and is due and payable in arrears at the end of each policy year at the maximum annual rate of 2.753.55%. We may use a lower loan interest rate. Interest not paid when due will be added to the loan principal and bear interest at the same raterate of interest. Loan Account - When a loan is taken, an amount equal to the loan is transferred out of the Accumulated Value in the Investment Options into the Loan Account to secure the loan. Unless you request otherwise, loan amounts will be deducted from the Variable Accounts and the Fixed Options on a pro rata basis, up to the amount available. We will credit interest to the Loan Account as described in the Accumulated Value section. On each policy anniversary, if the amount in the Loan Account exceeds Policy Debt, the excess will be transferred from the Loan Account to the Investment Options according to your most recent instructions. If Policy Debt exceeds the amount in the Loan Account, an amount equal to such excess will be transferred from the Investment Options on a proportionate basis to the Loan Account. Loan Repayment – - Loans may be repaid at any time while prior to lapse of this policy. An amount equal to the policy is In Forceportion of any loan repaid, but not more than the amount in the Loan Account, will be transferred from the Loan Account to the Investment Options according to your most recent instructions. We reserve the right to first transfer repayments from the Loan Account to each Fixed Option up to the amount that was originally borrowed. Any excess over such amount will be transferred to the Variable Accounts relative to your most recent instructions. Any payment we receive from you while you have a loan will be first considered a loan repayment, unless you tell us by Written Request in writing it is a premium payment. An amount equal to the portion of any loan repaid, but not more than the Loan Account Value, will be transferred from the Loan Account to the Investment Options according to your most recent instructions for allocation of premiums. We reserve the right to transfer repayments from the Loan Account to each Fixed Option up to the amount that was originally borrowed from that Fixed Option. Any excess over such amount will be transferred to the Variable Accounts according to your most recent instructions for allocation of premiums. SEPARATE ACCOUNT PROVISIONS Separate Account – We established - This policy uses the Pacific Select Exec Separate Account and maintain it under owned by Pacific Life & Annuity Company, herein called the laws and regulations of our state of domicile"Separate Account". The assets of the Separate Account shall be valued at least as often as any policy benefits vary, but at least monthly. We established the Separate Account and maintain it under the laws and regulations of Arizona and New York. The Separate Account is divided into subaccounts, called Variable Accounts. Xxxxxx and realized and unrealized gains and losses from the assets of each Variable Account are credited or charged against it without regard to our other income, gains or losses. Assets may be put in our Separate Account to support this policy and other variable life policies. Assets may be put in our Separate Account for other purposes, but not to support contracts or policies other than variable life contracts or policies. The assets of our Separate Account are our property. The portion of its assets equal to the reserves and other policy liabilities with respect to our Separate Account will not be chargeable with liabilities arising out of any other business we conduct. We may transfer assets of a Variable Account in excess of the reserves and other liabilities with respect to that Variable Account to another Variable Account or to our general account. All obligations arising under the policy are general corporate obligations of ours. We do not hold ourselves out to be trustees of the Separate Account assets. Variable Accounts - Each Variable Account may invest its assets in a separate class of shares of a designated investment company or companies. The Variable Accounts of our Separate Account that were available for your initial allocations are shown in the Policy Specifications. From time to time, we may make other Variable Accounts available to you. We will provide you with written notice of all material details including investment objectives and all charges. We reserve the right, subject to compliance with the law then in effect, to: . change or add designated investment companies; . add, remove or combine Variable Accounts; . add, delete or make substitutions for the securities that are held or purchased by the Separate Account or any Variable Account; . register or deregister any Variable Account under the Investment Company Act of 1940; . change the classification of any Variable Account; . operate any Variable Account as a managed investment company or as a unit investment trust; . combine the assets of any Variable Account with other separate accounts or subaccounts of ours or our affiliates; . transfer the assets of any Variable Account to other separate accounts or subaccounts of ours or our affiliates; . run any Variable Account under the direction of a committee, board, or other group; . restrict or eliminate any voting rights of policy Owners with respect to any Variable Account, or other persons who have voting rights as to any Variable Account; . change the allocations permitted under the policy; . terminate and liquidate any Variable Account; and . make any other change needed to comply with law. In spite of the above, we will not transfer any investment, or asset held for investment, between separate accounts or between separate and other accounts, provided that the superintendent of the New York Insurance Department may authorize transfers in circumstances where such transfers would not be inequitable. If any of these changes result in a material change in the underlying investment of a Variable Account of our Separate Account, we will notify you of such change. Unless required by law or regulation, an investment policy may not be changed without our consent. We will not change the investment policy of the Separate Account without the approval of the Insurance Commissioner of the state of Arizona, our state of domicile, and without the approval of the Insurance Department of the state of New York. The process for such approval is on file.