TERMINATION FROM EXCESS LOAN Sample Clauses

TERMINATION FROM EXCESS LOAN. If the Death Benefit Guarantee is not in force, this contract will terminate when: 1) The Debt exceeds the Accumulated Value less any Decrease Charges applied to the Face Amount; and 2) Sixty-one days have elapsed since we mailed a notice to you at the address last known to us. ----------------------------------------------------------------------- 11. VARIABLE ACCOUNT AND UNIT VALUES ----------------------------------------------------------------------- 11.1 VARIABLE ACCOUNT. Premiums and Accumulated Value may be allocated or transferred to subaccounts of the Variable Account. The Variable Account is a separate investment account of the Society that is registered with the SEC as a unit investment trust. The Variable Account has subaccounts that invest in the corresponding underlying portfolios of one or more diversified open-end management investment companies, each of which is registered with the SEC. Each subaccount purchases shares in a specific portfolio at net asset value. If a portfolio is no longer available or we no longer consider it suitable for investment, we may substitute another portfolio or invest in a different investment company. We may also add, delete, combine or modify subaccounts, combine the Variable Account with another separate account or invest in a different separate account. Changes in the investment policy of the Variable Account are subject to any required approvals by the SEC and the insurance supervisory officials in the state of Wisconsin. If required, the approval process is on file with the insurance supervisory officials in the state where this contract was delivered. We own the assets of the Variable Account. Income and realized and unrealized gains and losses from each subaccount of the Variable Account are credited to or charged against that subaccount. Assets of the Variable Account at any time will be at least equal to the reserves and other liabilities of the Variable Account. These assets may not be charged with liabilities from any other business we conduct. We may transfer assets in excess of Variable Account reserves and liabilities to our General Account.