Common use of During the Guaranteed Payment Period Clause in Contracts

During the Guaranteed Payment Period. The contract will lapse if there is no Cash Surrender Value and if the accumulated premiums paid as of each Monthly Anniversary Day are less than: X + Y + Z "X" is the guaranteed monthly premium shown in Section 1, Contract Data, times the number of Monthly Anniversary Days during which the contract has been in force before any requested increases to the Specified Amount. If requested increases to the Specified Amount have occurred, "X" will also include each new guaranteed monthly premium after an increase times the number of Monthly Anniversary Days during which each applicable increase to the Specified Amount has been in force. "Y" is the amount of any loan balance.