Common use of CHANGES IN SPECIFIED AMOUNT Clause in Contracts

CHANGES IN SPECIFIED AMOUNT. The Owner may decrease the Specified Amount upon written request, subject to approval by the Company. If the request is received before the close of trading on the NYSE on a monthly processing date, it will be effective on that monthly processing date; otherwise it will be effective on the next monthly processing date. The Company reserves the right to charge for more than one change to the Specified Amount in a Policy year. This charge will be deducted from the Contract Fund Value and will not exceed the amount shown on the Policy Schedule Pages (page 4). A decrease will not be allowed if the Specified Amount following the decrease would be less than the Minimum Specified Amount shown on the Policy Schedule Pages (page 3).

CHANGES IN SPECIFIED AMOUNT. The Owner may decrease the Specified Amount upon written request, subject to approval by the Company. If the request is received before the close of trading on the NYSE on a monthly processing date, it will be effective on that monthly processing date; otherwise it will be effective on the next monthly processing date. The Company reserves the right to charge for more than one change to the Specified Amount in a Policy year. This charge will be deducted from the Contract Fund Value and will not exceed the amount shown on the Policy Schedule Pages (page 4). A decrease will not be allowed if the Specified Amount following the decrease would be less than the Minimum minimum Specified Amount shown on the Policy Schedule Pages (page 3)Company would require for issuance of a policy at the time of change.