Common use of USE OF DIVIDENDS Clause in Contracts

USE OF DIVIDENDS. Policy In Force As Variable Whole Life With Additional Protection. If Additional Protection is in force and there is no Excess Amount, dividends will be used to increase Policy Value. If Additional Protection is not in force, or if there is Excess Amount, dividends may be paid in cash or used for one of the following: o Policy Value. Dividends will be used to increase Policy Value. o Paid-Up Additional Insurance. Dividends will purchase variable benefit paid-up additional insurance. o Premium Payment. Dividends will be used to reduce premiums. If the dividend is greater than the premium, the balance will be used to increase Policy Value. Other uses of dividends may be made available by the Company. If no direction is given for the use of dividends, they will be used to increase Policy Value. Policy In Force As Fixed Benefit Paid-Up Insurance. Dividends may be paid in cash or used to purchase fixed benefit paid-up additional insurance. Other uses of dividends may be made available by the Company. If no direction is given for the use of dividends, they will be used to purchase fixed benefit paid-up additional insurance. Policy In Force As Variable Benefit Paid-Up Insurance. Dividends may be paid in cash or used to purchase variable paid-up additional insurance. Other uses of dividends may be made available by the Company. If no direction is given for the use of dividends, they will be used to purchase variable paid-up additional insurance.