TERM LIFE INSURANCE CONTRACTUAL POLICY PREMIUM PROVISIONS

Payment of Premiums

The first premium must be paid before any term life insurance becomes effective. The due date of the first premium is the policy date. Each subsequent premium is due on the premium due date(s) shown in the policy schedule. The owner may change the frequency of the premium payment to any frequency we offer on the date such change is requested. All premiums after the first are payable in advance at our administrative office. A premium receipt signed by one of our officers will be furnished upon request. In no event may premiums be paid beyond the expiration date.

Grace Period

Except for the first premium, we will allow a 31 day grace period after the premium due date to pay each premium. During the grace period, the policy will remain in force. If a premium is not paid before the end of the grace period, the policy will terminate without value. If death occurs during the grace period, the premium required to provide
insurance from the premium due date to the end of the policy month in which the insured's death occurs will be deducted from the proceeds.

CHANGE OF PREMIUM

We may change the term life insurance premium for this policy after the initial term period, exclusive of any riders, subject to the following;