Common use of The Benefit Clause in Contracts

The Benefit. This rider increases the Face Amount of this contract. Increases are effective on each Contract Anniversary after the date of issue of this rider, provided this rider is then in force. The amount of the increase is determined on each Contract Anniversary. It is the smallest of: 1) The CPI Increase; 2) 10% of the Eligible Face Amount on the day before the increase, rounded to the nearest $1,000. The Eligible Face Amount is that part of the Face Amount with Premium Class which is not rated; and 3) $100,000. However, no increase will be made if the amount determined above is less than $1,000. The Premium Class for the increase in Face Amount will be the same as for this contract.