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EXHIBIT 1.A.(5)(b8)
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MONARCH LIFE INSURANCE COMPANY SPRINGFIELD, MASSACHUSETTS
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Additional Payments Endorsement
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The fourth paragraph in the ADDITIONAL PAYMENT OPTION provision of the basic
policy is amended to read as follows:
If you die prior to the policy processing date following the dates of
receipt and acceptance of any additional payments, we will pay the
beneficiary the larger of:
- the death benefit calculated as of the policy processing date
prior to the dates of receipt and acceptance of the additional
payments plus the amount of the additional payments, and;
- the cash value as of the date of receipt and acceptance of the
last additional payment made prior to the death of the insured
multiplied by the net single premium factor for such date.
We will reduce the amount paid to the beneficiary by any policy debt
and increase it by any amounts due from riders. If you die during the
grace period, we will also reduce this amount by any overdue charges.
The PROCEEDS PAYABLE TO THE BENEFICIARY provision of the basic policy is
modified to add the following paragraph at the end of the DEATH BENEFIT
PROCEEDS section:
The amount paid to the beneficiary on your death will be greater when
we have received and accepted any additional payments during a policy
processing period and the insured dies prior to the policy processing
date following such payments. See ADDITIONAL PAYMENT OPTION.
