Specified Face Amount. The Base Death Benefit is the greater of the Specified Face Amount, or the Account Value multiplied by the applicable Death Benefit Percentage. Option B - Specified Face Amount plus Account Value. The Base Death Benefit is the greater of the Specified Face Amount plus the Account Value, or the Account Value multiplied by the applicable Death Benefit Percentage. Option B is not available if the Death Benefit Compliance Test specified in Section 1 is The Cash Value Accumulation Test. The APB Death Benefit is the greater of zero or the result of the APB Face Amount minus the excess, if any, of the Base Death Benefit over: the Specified Face Amount if Option A the Specified Face Amount plus Account Value if Option B or Death Benefit equals the sum of the Base Death Benefit and the APB Death Benefit. At any time the Death Benefit is defined as the Account Value multiplied by the applicable Death Benefit Percentage, and the Death Benefit less the Account Value exceeds the Total Face Amount specified in Section 1, We reserve the right to distribute Account Value to You as a Partial Surrender to the extent necessary so that the Death Benefit less the Account Value equals the Total Face Amount. You will not have the option of providing evidence of insurability to maintain Your level of Death Benefit. After the Insured's Attained Age 100, the Death Benefit will be equal to the Account Value. The Policy Proceeds will be paid as they become due upon the death of the Insured. We will make payment when We receive Due Proof of that death. The Death Benefit used to determine Policy Proceeds is based on the Specified Face Amount and Account Value in effect on the date of death. The APB is shown in Section 1. The APB will terminate at the earliest of the following dates:
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Samples: Sun Life (N.Y.) Variable Account J
Specified Face Amount. The Base Death Benefit is the greater of the Specified Face Amount, or the Account Gross Cash Surrender Value multiplied by the applicable Death Benefit PercentagePercentage specified in Section 1. Option B - Specified Face Amount plus Account Gross Cash Surrender Value. The Base Death Benefit is the greater of the Specified Face Amount plus the Account Gross Cash Surrender Value, or the Account Gross Cash Surrender Value multiplied by the applicable Death Benefit Percentage. Option B is not available if the Death Benefit Compliance Test Percentage specified in Section 1 1. Option C - Specified Face Amount plus cumulative Premiums paid. The Base Death Benefit is The the greater of the Specified Face Amount plus the sum of all Premium payments less any Partial Surrenders, or the Gross Cash Surrender Value Accumulation Testmultiplied by the applicable Death Benefit Percentage specified in Section 1. The APB Death Benefit is the greater of zero or the result of the APB Face Amount minus the excess, if any, of the Base Death Benefit over: the Specified Face Amount if Option A the Specified Face Amount plus Account Gross Cash Surrender Value if Option B or the Specified Face Amount plus cumulative Premiums paid less any Partial Surrenders if Option C Death Benefit equals the sum of the Base Death Benefit and the APB Death Benefit. At On any time Monthly Anniversary Day where the Death Benefit is defined as the Account Cash Surrender Value multiplied by the applicable Death Benefit Percentage, and the Death Benefit less the Account Gross Cash Surrender Value exceeds the greater of (1) the Total Face Amount specified in Section 1and (2) the Death Benefit less the Gross Cash Surrender Value on the prior Monthly Anniversary Day, We reserve the right to distribute Account Value to You as a Partial Surrender to the extent necessary so that the Death Benefit less the Account Gross Cash Surrender Value equals does not exceed the Total Face Amount. You will not have the option greater of providing evidence of insurability to maintain Your level of Death Benefit(1) and (2) above. After the Insured's Attained Age 100, the Death Benefit will be equal to the Account Gross Cash Surrender Value. The Policy Proceeds will be paid as they become due upon the death of the Insured. If the Insured dies while this Policy is in force, We will make a lump sum payment when We receive Due Proof of that death. The Death Benefit used to determine Policy Proceeds is based on the Specified Face Amount and Account Value in effect on the date of death. The APB is shown in Section 1. The APB will terminate at the earliest of the following dates:
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Samples: Sun Life (N.Y.) Variable Account J
Specified Face Amount. The Base Death Benefit is the greater of the Specified Face Amount, or the Account Gross Cash Surrender Value multiplied by the applicable Death Benefit PercentagePercentage specified in Section 1. Option B - Specified Face Amount plus Account Gross Cash Surrender Value. The Base Death Benefit is the greater of the Specified Face Amount plus the Account Gross Cash Surrender Value, or the Account Gross Cash Surrender Value multiplied by the applicable Death Benefit Percentage. Option B is not available if the Death Benefit Compliance Test Percentage specified in Section 1 is The Cash Value Accumulation Test1. Option C – Specified Face Amount plus cumulative Premiums paid. The APB Base Death Benefit is the greater of the Specified Face Amount plus the sum of all Premium payments less any Partial Surrenders, or the Gross Cash Surrender Value multiplied by the applicable Death Benefit Percentage specified in Section 1. The Supplemental Insurance Death Benefit is the greater of zero or the result of the APB Supplemental Insurance Face Amount minus the excess, if any, of the Base Death Benefit over: · the Specified Face Amount if Option A or · the Specified Face Amount plus Account the Gross Cash Surrender Value if Option B or · the Specified Face Amount plus cumulative Premiums less any Partial Surrenders if Option C The Policy’s Death Benefit equals the sum of the Base Death Benefit and the APB Supplemental Insurance Death Benefit. At On any time Monthly Anniversary Day where the Death Benefit is defined as the Account Gross Cash Surrender Value multiplied by the applicable Death Benefit Percentage, and the Death Benefit less the Account Gross Cash Surrender Value exceeds the greater of (1) the Total Face Amount specified in Section 1and (2) the Death Benefit less the Gross Cash Surrender Value on the prior Monthly Anniversary Day, We reserve the right to distribute Account Value to You as a Partial Surrender to the extent necessary so that the Death Benefit less the Account Gross Cash Surrender Value equals does not exceed the Total Face Amount. You will not have the option greater of providing evidence of insurability to maintain Your level of Death Benefit. After the Insured's Attained Age 100, the Death Benefit will be equal to the Account Value(1) and (2) above. The Policy Proceeds will be paid as they become due upon the death of the Insured. If the Insured dies while this Policy is in force, We will make a lump sum payment when We receive Due Proof of that death. Changes in Specified Face Amount and Supplemental Insurance Face Amount. You may change the Specified Face Amount or Supplemental Insurance Face Amount. You must send Your request for a change to Our Principal Office, in writing. If We approve the changes, each such change will be effective on the Effective Date of Coverage for the change. Decreases in Specified Face Amount and Supplemental Insurance Face Amount. The Death Benefit used Specified Face Amount may not decrease to determine Policy Proceeds less than the Minimum Specified Face Amount specified in Section 1. A decrease in Specified Face Amount or Supplemental Insurance Face Amount may not decrease this Policy’s Total Face Amount to an amount less than the Minimum Total Face Amount specified in Section 1. A decrease in Specified Face Amount or Supplemental Insurance Face Amount will be applied in the following order: · first, to the most recent increase, either Specified Face Amount or Supplemental Insurance Face Amount, if any, whichever is based on most recent. If the increase was processed to the Specified Face Amount and Account Value Supplemental Insurance Face Amount simultaneously, then to the Supplemental Insurance Face Amount first; · second, to the next most recent increases, either Specified Face Amount or Supplemental Insurance Face Amount, if any, in reverse chronological order. If the increase was processed to the Specified Face Amount and Supplemental Insurance Face Amount simultaneously, then to the Supplemental Insurance Face Amount first; · third, to the initial Supplemental Insurance Face Amount; and · finally, to the initial Specified Face Amount. Increases in Specified Face Amount and Supplemental Insurance Amount. An increase in the Specified Face Amount or Supplemental Insurance Face Amount is subject to Our underwriting rules in effect on the date of death. The APB is shown in Section 1. The APB will terminate at the earliest time of the following dates:increase. You may be required to submit evidence of the Insured’s insurability satisfactory to Us.
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Specified Face Amount. The Base Death Benefit is the greater of the Specified Face Amount, or the Account Gross Cash Surrender Value multiplied by the applicable Death Benefit Percentage, as specified in Section 1. Option B - Specified Face Amount plus Account Gross Cash Surrender Value. The Base Death Benefit is the greater of the Specified Face Amount plus Gross Cash Surrender Value, or the Gross Cash Surrender Value multiplied by the applicable Death Benefit Percentage, as specified in Section 1. Option C - Specified Face Amount plus cumulative Premiums Paid. The Death Benefit is the greater of the Specified Face Amount plus the Account Valuesum of all Premium payments less any Partial Surrenders, or the Account Gross Cash Surrender Value multiplied by the applicable Death Benefit Percentage. Option B is not available if the Death Benefit Compliance Test , as specified in Section 1 is The Cash Value Accumulation Test1. The APB Death Benefit is the greater of zero or the result of the APB Face Amount minus the excess, if any, of the Base Death Benefit over: the Specified Face Amount if Option A the Specified Face Amount plus Account Value if Option B or Death Benefit equals the sum of the Base Death Benefit and the APB Death Benefit. At On any time Monthly Anniversary Day where the Death Benefit is defined as the Account Gross Cash Surrender Value multiplied by the applicable Death Benefit Percentage, and the Death Benefit less the Account Gross Cash Surrender Value exceeds the greater of (1) the Total Face Amount specified in Section 1and (2) the Death Benefit less the Gross Cash Surrender Value on the prior Monthly Anniversary Day, We reserve the right to distribute Account Value to You as a Partial Surrender to the extent necessary so that the Death Benefit less the Account Gross Cash Surrender Value equals does not exceed the Total Face Amount. You will not have the option greater of providing evidence of insurability to maintain Your level of Death Benefit. After the Insured's Attained Age 100, the Death Benefit will be equal to the Account Value(1) and (2) above. The Policy Proceeds will be paid as they become due upon the death of the Insured. If the Insured dies while this Policy is in force, We will make a lump sum payment when We receive Due Proof of that death. The Through the Insured's Attained Age 100, the Death Benefit used to determine Policy Proceeds is based on the Death Benefit Option, the Specified Face Amount and Account Gross Cash Surrender Value in effect on the date of death. The APB is shown After the Insured's Attained Age 100, the Death Benefit will be equal to the Gross Cash Surrender Value. You should note that this Policy may not qualify as life insurance after the Insured's Attained Age 100, which may result in Section 1adverse tax consequences. The APB You should consult your tax advisor prior to continuing this Policy beyond the Insured's Attained Age 100. Changes in Specified Face Amount. You may change the Specified Face Amount. You must send Your request for a change to Our Principal Office, in writing. If We approve the changes, each such change will terminate at be effective on the earliest Effective Date of Coverage for the following dates:change.
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Specified Face Amount. The Base Death Benefit is the greater of the Specified Face Amount, or the Account Gross Cash Surrender Value multiplied by the applicable Death Benefit PercentagePercentage specified in Section 1. Option B - Specified Face Amount plus Account Gross Cash Surrender Value. The Base Death Benefit is the greater of the Specified Face Amount plus the Account Gross Cash Surrender Value, or the Account Gross Cash Surrender Value multiplied by the applicable Death Benefit Percentage. Option B is not available if the Death Benefit Compliance Test Percentage specified in Section 1 is The Cash Value Accumulation Test1. Option C - Specified Face Amount plus cumulative Premiums paid. The APB Base Death Benefit is the greater of the Specified Face Amount plus the sum of all Premium payments less any Partial Surrenders, or the Gross Cash Surrender Value multiplied by the applicable Death Benefit Percentage specified in Section 1. The Supplemental Insurance Death Benefit is the greater of zero or the result of the APB Supplemental Insurance Face Amount minus the excess, if any, of the Base Death Benefit over: · the Specified Face Amount if Option A or · the Specified Face Amount plus Account the Gross Cash Surrender Value if Option B or · the Specified Face Amount plus cumulative Premiums less any Partial Surrenders if Option C The Policy’s Death Benefit equals the sum of the Base Death Benefit and the APB Supplemental Insurance Death Benefit. At On any time Monthly Anniversary Day where the Death Benefit is defined as the Account Gross Cash Surrender Value multiplied by the applicable Death Benefit Percentage, and the Death Benefit less the Account Gross Cash Surrender Value exceeds the greater of (1) the Total Face Amount specified in Section 1and (2) the Death Benefit less the Gross Cash Surrender Value on the prior Monthly Anniversary Day, We reserve the right to distribute Account Value to You as a Partial Surrender to the extent necessary so that the Death Benefit less the Account Gross Cash Surrender Value equals does not exceed the Total Face Amount. You will not have the option greater of providing evidence of insurability to maintain Your level of Death Benefit. After the Insured's Attained Age 100, the Death Benefit will be equal to the Account Value(1) and (2) above. The Policy Proceeds will be paid as they become due upon the death of the Insured. If the Insured dies while this Policy is in force, We will make a lump sum payment when We receive Due Proof of that death. Changes in Specified Face Amount and Supplemental Insurance Face Amount. You may change the Specified Face Amount or Supplemental Insurance Face Amount. You must send Your request for a change to Our Principal Office, in writing. If We approve the changes, each such change will be effective on the Effective Date of Coverage for the change. Decreases in Specified Face Amount and Supplemental Insurance Face Amount. The Death Benefit used Specified Face Amount may not decrease to determine Policy Proceeds less than the Minimum Specified Face Amount specified in Section 1. A decrease in Specified Face Amount or Supplemental Insurance Face Amount may not decrease this Policy’s Total Face Amount to an amount less than the Minimum Total Face Amount specified in Section 1. A decrease in Specified Face Amount or Supplemental Insurance Face Amount will be applied in the following order: · first, to the most recent increase, either Specified Face Amount or Supplemental Insurance Face Amount, if any, whichever is based on most recent. If the increase was processed to the Specified Face Amount and Account Value Supplemental Insurance Face Amount simultaneously, then to the Supplemental Insurance Face Amount first; · second, to the next most recent increases, either Specified Face Amount or Supplemental Insurance Face Amount, if any, in reverse chronological order. If the increase was processed to the Specified Face Amount and Supplemental Insurance Face Amount simultaneously, then to the Supplemental Insurance Face Amount first; · third, to the initial Supplemental Insurance Face Amount; and · finally, to the initial Specified Face Amount. Increases in Specified Face Amount and Supplemental Insurance Amount. An increase in the Specified Face Amount or Supplemental Insurance Face Amount is subject to Our underwriting rules in effect at the time of the increase. You may be required to submit evidence of the Insured’s insurability satisfactory to Us. Changes in the Death Benefit Option. Changes in the Death Benefit Option are subject to Our underwriting rules in effect at the time of the change. Requests for a change in the Death Benefit Option must be made in writing to Our Principal Office. The effective date of the change will be the Anniversary on or next following the date of death. The APB is shown in Section 1. The APB will terminate at the earliest of the following dates:We approve Your request.
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