Common use of PREMIUM LIMITATIONS Clause in Contracts

PREMIUM LIMITATIONS. Premiums may be paid to the Company at any time before the policy anniversary that is nearest the Insured's 95th birthday. The minimum premium the Company will accept is shown on page 3. The Company will not accept any premium that causes this policy not to qualify as a life insurance policy under the Internal Revenue Code, as amended. Further, the Company reserves the right to make distributions from this policy as necessary to continue to qualify the policy as life insurance under the Internal Revenue Code. A premium payment that would increase the policy's death benefit more than it increases the Policy Value will be accepted only if: - the insurance in force, as increased, will be within the Company's issue limits; - the Company's insurability requirements (Section 1.8) are met; and - the premium payment is received prior to the policy anniversary nearest the Insured's 75th birthday.