Common use of CONTRACT LOANS Clause in Contracts

CONTRACT LOANS. Except for non-payment of premium, we will not contest this benefit with respect to the insurance on any dependent child's life after it has been in force during the child's lifetime for two years from: (1) the date the level term insurance benefit on dependent children began under the earliest contract; or, if later, (2) the date of any rider that added the child for coverage under any such earlier contract. But, in any case. if there was a later reinstatement of any such earlier contract, then the two years will start on the date of the most recent reinstatement. BENEFIT PREMIUMS AND CHARGES We show the premiums for this benefit in the contract data pages. From each premium payment, we make the deductions shown on those pages and the balance is the invested premium amount which is added to the contract fund. The monthly charge for this benefit is deducted on each monthly date from the contract fund. The amount of that charge is included in the contract data pages. Benefit premiums and monthly charges stop on the earlier of the death of the Insured and the first contract anniversary after the Insured's 65th birthday.