Common use of QUALIFICATION AS A LIFE INSURANCE CONTRACT Clause in Contracts

QUALIFICATION AS A LIFE INSURANCE CONTRACT. This Policy is intended to qualify as a life insurance contract for federal tax purposes, and the Death Benefit under this Policy is intended to qualify for the federal income tax exclusion as long as the federal tax law provides for such tax qualification. This Policy shall be interpreted to ensure and maintain such tax qualification, despite any other provisions to the contrary. If, at any time, the Death Benefit is less than the Minimum Death Benefit (Section 3.2), the Death Benefit shall be increased retroactively and prospectively to the minimum extent necessary so that at no time is the Death Benefit less than the amount necessary to ensure or maintain such tax qualification. If the Definition of Life Insurance Test shown on the Policy Schedule Pages (page 3) is the Guideline Premium/Cash Value Corridor Test, the federal tax law limits the amount of premiums you can pay. If, at any time, the premiums paid under this Policy exceed the maximum premium allowable under the Guideline Premium/Cash Value Corridor Test, the excess amount (with interest as may be required by the federal tax law) shall be removed from this Policy as of the date of its payment, and any appropriate adjustment in the Death Benefit shall be made as of such date. The excess amount (with interest as may be required by the federal tax law) shall be refunded no later than 60 days after the end of the applicable Policy year as determined under federal tax law. If this excess amount is not refunded by then, the Death Benefit shall be increased retroactively to the minimum extent necessary so that at no time is the Death Benefit less than the amount necessary to ensure or maintain such tax qualification. The Company may make appropriate adjustments in the Monthly Policy Charges and Policy Value, retroactively and prospectively, consistent with any such Death Benefit increase. Such adjustments may result in a reduction in the Policy Value. The Company may modify this Policy to maintain such tax qualification or to conform this Policy to any changes in the requirements for such tax qualification. There is a possibility that a life insurance policy may not qualify as life insurance under federal tax law, and thus may lose certain tax benefits, after the Insured attains age 121. The Internal Revenue Service has established safe harbors, however, in which a life insurance policy will continue to qualify as life insurance for tax purposes for the life of the Insured. The Company has designed and will administer the Policy to satisfy these safe harbors. The Owner should consult a knowledgeable tax adviser before continuing the Policy after age 121.

QUALIFICATION AS A LIFE INSURANCE CONTRACT. This Policy is intended to qualify as a life insurance contract for federal tax purposes, and the Death Benefit under this Policy is intended to qualify for the federal income tax exclusion as long as the federal tax law provides for such tax qualification. This Policy shall be interpreted to ensure and maintain such tax qualification, despite any other provisions to the contrary. If, at any time, the Death Benefit is less than the Minimum Death Benefit (Section 3.2), the Death Benefit shall be increased retroactively and prospectively to the minimum extent necessary so that at no time is the Death Benefit less than the amount necessary to ensure or maintain such tax qualification. If the Definition of Life Insurance Test shown on the Policy Schedule Pages (page 3) is the Guideline Premium/Cash Value Corridor Test, the federal tax law limits the amount of premiums you can pay. If, at any time, the premiums paid under this Policy exceed the maximum premium allowable under the Guideline Premium/Cash Value Corridor Test, the excess amount (with interest as may be required by the federal tax law) shall be removed from this Policy as of the date of its payment, and any appropriate adjustment in the Death Benefit shall be made as of such date. The excess amount (with interest as may be required by the federal tax law) shall be refunded no later than 60 days after the end of the applicable Policy year as determined under federal tax law. If this excess amount is not inadvertently refunded by then, the Death Benefit shall be increased retroactively to the minimum extent necessary so that at no time is the Death Benefit less than the amount necessary to ensure or maintain such tax qualification. The Company may make appropriate adjustments in the Monthly Policy Charges and Policy Value, retroactively and prospectively, consistent with any such Death Benefit increase. Such adjustments may result in a reduction in the Policy Value. The Company may modify this Policy to maintain such tax qualification or to conform this Policy to any changes in the requirements for such tax qualification. There is a possibility that a life insurance policy may not qualify as life insurance under federal tax law, and thus may lose certain tax benefits, after the Insured attains age 121. The Internal Revenue Service has established safe harbors, however, in which a life insurance policy will continue to qualify as life insurance for tax purposes for the life of the Insured. The Company has designed and will administer the Policy to satisfy these safe harbors. The Owner should consult a knowledgeable tax adviser before continuing the Policy after age 121.