Common use of PAID-UP OPTION Clause in Contracts

PAID-UP OPTION. The Owner may change this Policy to the Paid-up Option upon written request to the Company provided the Policy has been in force for a minimum period of time as shown on the Policy Schedule Pages (page 3). The change to the Paid-up Option is irrevocable.

Appears in 2 contracts

Sources: Individual Flexible Premium Variable Adjustable Life Insurance Policy (Northwestern Mutual Variable Life Account II), Life Insurance Policy (Northwestern Mutual Variable Life Account II)