Common use of THE OWNER AND THE BENEFICIARY Clause in Contracts

THE OWNER AND THE BENEFICIARY. THE OWNER You have rights in the Policy during either Insured's life. The Policy names the Insureds. If you are not an Insured, you should name a contingent owner who will become the Owner if you die before either Insured. If you die before either Insured and there is no contingent owner, ownership passes to your estate. If there are multiple Owners, they own the Policy jointly with rights of survivorship. If the last surviving joint Owner dies before both Insureds, ownership passes to the estate of that joint Owner. THE BENEFICIARY You may name primary and contingent Beneficiaries. Your original Beneficiary choice is shown in the attached application. Unless an Optional Payment Plan is chosen, Death Proceeds will be paid in a lump sum to the primary Beneficiary. If the primary Beneficiary dies before the second Insured to die, Death Proceeds will be paid to the contingent Beneficiary. If no Beneficiary survives both Insureds, Death Proceeds will be paid to you or your estate. You may name more than one primary or contingent Beneficiary. If you do, the proceeds will be paid in equal shares to the survivors in the appropriate Beneficiary class who survive both Insureds, unless you have requested otherwise. CHANGING THE OWNER OR BENEFICIARY During either Insured's life, you may change the Owner. You may also change the Beneficiary during either Insured's life if you reserved this right. An irrevocable Beneficiary may only be changed with the consent of that irrevocable Beneficiary.

THE OWNER AND THE BENEFICIARY. THE OWNER You have rights in the Policy during either the Insured's life. The Policy names you or someone else as the InsuredsInsured. If you are not an the Insured, you should name a contingent owner who will become the Owner if you die before either the Insured. If you die before either the Insured and there is no contingent owner, ownership passes to your estate. If there are multiple Owners, they own the Policy jointly with rights of survivorship. If the last surviving joint Owner dies before both Insureds, ownership passes to the estate of that joint Owner. THE BENEFICIARY You may name primary and contingent Beneficiaries. Your original Beneficiary choice is shown in the attached application. Unless an Optional Payment Plan is chosen, Death Proceeds the proceeds payable at the Insured's death will be paid in a lump sum to the primary Beneficiary. If the primary Beneficiary dies before the second Insured to dieInsured, Death Proceeds the proceeds will be paid to the contingent Beneficiary. If no Beneficiary survives both Insuredsthe Insured, Death Proceeds the proceeds will be paid to you or your estate. You may name more than one primary or contingent Beneficiary. If you do, the proceeds will be paid in equal shares to the survivors in the appropriate Beneficiary class who survive both Insuredsclass, unless you have requested otherwise. CHANGING THE OWNER OR BENEFICIARY During either the Insured's life, you may change the Owner. You may also change the Beneficiary during either the Insured's life if you reserved this right. An irrevocable How to Change the Owner or Beneficiary. To make a change, send a written request to our Home Office. The request must be received by us in a form satisfactory to us. The change will take effect as of the date you sign the request. The change will be subject to any payment we make before we record the change. USING THE POLICY AS COLLATERAL FOR A LOAN This Policy may be assigned as collateral security. We must be notified in writing if you assign the Policy. Any payment we make before we record the assignment at our Home Office will not be affected. We are not responsible for the validity of an assignment. Your rights and the rights of a Beneficiary may only be changed with the consent of that irrevocable Beneficiaryaffected by an assignment.

THE OWNER AND THE BENEFICIARY. THE OWNER The Owner You have rights in the Policy policy during either Insuredthe insured's lifelifetime. The Policy policy names you or someone else as the Insuredsinsured. If you are not an Insuredthe insured, you should name a contingent owner who will become the Owner owner if you die before either Insuredthe insured. If you die before either Insured the insured and there is no contingent owner, ownership passes to your estate. If there are multiple OwnersUnless a payment plan is chosen, they own the Policy jointly with rights of survivorshipproceeds payable on the maturity date or on surrender will be paid to you in a lump sum. If the last surviving joint Owner dies before both Insureds, ownership passes to the estate of that joint Owner. THE BENEFICIARY The Beneficiary You may can name primary and contingent Beneficiariesbeneficiaries. Your original Beneficiary beneficiary choice is shown in the attached application. Unless an Optional Payment Plan a payment plan is chosen, Death Proceeds the proceeds payable at the insured's death will be paid in a lump sum to the primary Beneficiarybeneficiary. If the primary Beneficiary beneficiary dies before the second Insured to dieinsured, Death Proceeds the proceeds will be paid to the contingent Beneficiarybeneficiary. If no Beneficiary beneficiary survives both Insuredsthe insured, Death Proceeds the proceeds will be paid to you or your estate. You may name more than one primary or contingent Beneficiarybeneficiary. If you do, the proceeds will be paid in equal shares to the survivors in the appropriate Beneficiary class who survive both Insuredsbeneficiary class, unless you have requested otherwise. CHANGING THE OWNER OR BENEFICIARY Changing the Owner or Beneficiary During either Insuredthe insured's life, you may can change the Ownerowner. You may can also change the Beneficiary beneficiary during either Insuredthe insured's life if you reserved reserve this right. An irrevocable Beneficiary How to Change the Owner or Beneficiary. To make a change, send a written request to our home office. The request and the change must be in a form satisfactory to us and must be received by us. The change will take effect as of the date you sign the request. The change will be subject to any payment we make before we record the change. Using the Policy as Collateral for a Loan This policy can be assigned as collateral security. We must be notified in writing if you assign the policy. Any payment we make before we record the assignment at our home office will not be affected. We are not responsible for the validity of an assignment. Your rights and the rights of a beneficiary may only be changed with affected by an assignment. PREMIUM PAYMENTS This policy's first premium is due on the consent policy date. Any premium payments after the first premium may be made under a periodic plan at any time while this policy is in effect. Periodic Plan. You may request that we send reminders of that irrevocable Beneficiaryyour planned periodic premium. You may choose to pay annually, semi-annually, or quarterly. The minimum premium is $20. We can also arrange for pre-authorized monthly payments from your bank account or similar facility. The minimum pre-authorized monthly payment is $15. You can change the frequency of payments or the amount of a premium by sending a written request to our home office.

THE OWNER AND THE BENEFICIARY. THE OWNER The Owner You have rights in the Policy during either Insured's life. The Policy names the Insureds. If you are not an Insured, you should name a contingent owner who will become the Owner if you die before either Insured. If you die before either Insured and there is no contingent owner, ownership passes to your estate. If there are multiple Owners, they own the Policy jointly with rights of survivorship. If the last surviving joint Owner dies before both Insureds, ownership passes to the estate of that joint Owner. THE BENEFICIARY The Beneficiary You may name primary and contingent Beneficiaries. Your original Beneficiary choice is shown in the attached application. Unless an Optional Payment Plan is chosen, Death Proceeds will be paid in a lump sum to the primary Beneficiary. If the primary Beneficiary dies before the second Insured to die, Death Proceeds will be paid to the contingent Beneficiary. If no Beneficiary survives both Insuredsthe second Insured to die, Death Proceeds will be paid to you or your estate. You may name more than one primary or contingent Beneficiary. If you do, the proceeds will be paid in equal shares to the survivors in the appropriate Beneficiary class who survive both Insuredsthe second Insured to die, unless you have requested otherwise. CHANGING THE OWNER OR BENEFICIARY Changing the Owner or Beneficiary During either Insured's life, you may change the Owner. You may also change the Beneficiary during either Insured's life if you reserved this right. An irrevocable How to Change the Owner or Beneficiary. To make a change, send a written request to our Home Office. The request must be received by us in a form satisfactory to us. The change will take effect as of the date you sign the request. The change will be subject to any payment we make before we record the change. Using the Policy as Collateral for a Loan This Policy may be assigned as collateral security. We must be notified in writing if you assign the Policy. Any payment we make before we record the assignment at our Home Office will not be affected. We are not responsible for the validity of an assignment. Your rights and the rights of any revocable Beneficiary may only be changed with the consent of that irrevocable Beneficiaryaffected by an assignment.

THE OWNER AND THE BENEFICIARY. THE OWNER The Owner You have rights in the Policy during either Insured's life. The Policy names the Insureds. If you are not an Insured, you should may name a contingent owner Owner who will become the Owner if you die before either Insured. If you die before either Insured and there is no contingent ownerOwner, ownership passes to your estate. If there are multiple Owners, they own the Policy jointly with rights of survivorship. If the last surviving joint Owner dies before both Insureds, ownership passes to any contingent Owner or to the estate of that joint Owner. THE BENEFICIARY The Beneficiary You may name primary and contingent Beneficiaries. Your original Beneficiary choice is shown in the attached application. Unless an Optional Payment Plan is chosen, Death Proceeds will be paid in to a lump sum to retained benefit account for the primary Beneficiary. If the primary Beneficiary dies before the second Insured to dielast Insured, Death Proceeds will be paid to the contingent Beneficiary. If no Beneficiary survives both Insuredsthe last Insured, Death Proceeds will be paid to you or your estate. You may name more than one primary or contingent Beneficiary. If you do, the proceeds will be paid in equal shares to the survivors in the appropriate Beneficiary class who survive both Insuredsthe last Insured, unless you have requested otherwise. CHANGING THE OWNER OR BENEFICIARY Changing the Owner or Beneficiary During either Insured's life, you may change the Owner. You may also change the Beneficiary during either Insured's life if you reserved this right. An irrevocable How to Change the Owner or Beneficiary. To make a change, send a written request to our Home Office. The request must be received by us in a form satisfactory to us. The change will take effect as of the date you sign the request. The change will be subject to any payment we make before we record the change. Using the Policy as Collateral for a Loan This Policy may be assigned as collateral security. We must be notified in writing if you assign the Policy. Any payment we make before we record the assignment at our Home Office will not be affected. We are not responsible for the validity of an assignment. Your rights and the rights of any revocable Beneficiary may only be changed with the consent of that irrevocable Beneficiaryaffected by an assignment.

THE OWNER AND THE BENEFICIARY. THE OWNER The Owner You have rights in the Policy during either Insured's life. The Policy names the Insureds. If you are not an Insured, you should name a contingent owner who will become the Owner if you die before either Insured. If you die before either Insured and there is no contingent owner, ownership passes to your estate. If there are multiple Owners, they own the Policy jointly with rights of survivorship. If the last surviving joint Owner dies before both Insureds, ownership passes to the estate of that joint Owner. THE BENEFICIARY The Beneficiary You may name primary and contingent Beneficiaries. Your original Beneficiary choice is shown in the attached application. Unless an Optional Payment Plan is chosen, Death Proceeds will be paid in a lump sum to the primary Beneficiary. If the primary Beneficiary dies before the second Insured to die, Death Proceeds will be paid to the contingent Beneficiary. If no Beneficiary survives both Insureds, Death Proceeds will be paid to you or your estate. You may name more than one primary or contingent Beneficiary. If you do, the proceeds will be paid in equal shares to the survivors in the appropriate Beneficiary class who survive both Insureds, unless you have requested otherwise. CHANGING THE OWNER OR BENEFICIARY Changing the Owner or Beneficiary During either Insured's life, you may change the Owner. You may also change the Beneficiary during either Insured's life if you reserved this right. An irrevocable Beneficiary may only be changed with the consent of that irrevocable Beneficiary. How to Change the Owner or Beneficiary. To make a change, send a written request to our Home Office. The request must be received by us in a form satisfactory to us. The change will take effect as of the date you sign the request. The change will be subject to any payment we make before we record the change. Using the Policy as Collateral for a Loan This Policy may be assigned as collateral security. We must be notified in writing if you assign the Policy. Any payment we make before we record the assignment at our Home Office will not be affected. We are not responsible for the validity of an assignment. Your rights and the rights of any revocable Beneficiary may be affected by an assignment.