Common use of REDUCTION BY COMPANY; OWNER'S RIGHT TO CONTINUE EXISTING PROTECTION Clause in Contracts

REDUCTION BY COMPANY; OWNER'S RIGHT TO CONTINUE EXISTING PROTECTION. For any policy year after the end of the guaranteed period, the Company may reduce the amount of Additional Protection if, at the attained age of the Insured: o the net annual policy premium; plus o the excess, if any, of: o the Policy Value 25 days before the policy anniversary plus any dividend payable on the policy anniversary; over o the tabular value of the Minimum Guaranteed Death Benefit on the policy anniversary; is less than: o the Minimum Guaranteed Death Benefit times the nonforfeiture factor (shown on page 8); plus o that portion of the cost of insurance charge for the Insurance Amount which the Company determines applies to Additional Protection. The amount of Additional Protection will be reduced to equal the amount of term insurance which could be purchased by the premium for Additional Protection plus any dividend payable on the policy anniversary. The premium rates for term insurance will not be more than the rates shown on page 6. The Company will send written notice of the reduction. The Owner may prevent a reduction that would occur on or before the last term insurance premium increase date shown on page 6. This may be done by the payment of an increased minimum premium as determined under Section 4.2. The increased premium will be payable for the remainder of the premium paying period. The premium must be received at the Home Office within 31 days of the date the reduction would take effect. The right of the Owner to continue the amount of Additional Protection will terminate as of the first policy anniversary on which the Owner fails to pay an increased premium when due.

REDUCTION BY COMPANY; OWNER'S RIGHT TO CONTINUE EXISTING PROTECTION. For any policy year after the end of the guaranteed period, the Company may reduce the amount of Additional Protection if, at the attained age of the Insured: o . the net annual policy premium; plus o . the excess, if any, of: o . the Policy Value 25 days before the policy anniversary plus any dividend payable on the policy anniversary; over o . the tabular value of the Minimum Guaranteed Death Benefit on the policy anniversary; is less than: o . the Minimum Guaranteed Death Benefit times the nonforfeiture factor (shown on page 8); plus o . that portion of the cost of insurance charge for the Insurance insurance Amount which the Company determines applies to Additional Protection. The amount of Additional Protection will be reduced to equal the amount of term insurance which could be purchased by the premium for Additional Protection plus any dividend payable on the policy anniversary. The premium rates for term insurance will not be more than the rates shown on page 6. The Company will send written notice of the reduction. The Owner may prevent a reduction that would occur on or before the last term insurance premium increase date shown on page 6. This may be done by the payment of an increased minimum premium as determined under Section 4.2. The increased premium will be payable for the remainder of the premium paying period. The premium must be received at the Home Office within 31 days of the date the reduction would take effect. The right of the Owner to continue the amount of Additional Protection will terminate as of the first policy anniversary on which the Owner fails to pay an increased premium when due.