No condition other than as herein provided shall be exacted as a prerequisite to any such advance.

Assignment. - No assignment of this policy shall be binding upon the company until it be filed with the company at its said home office. The company assumes no responsibility as to the validity of any assignment.

Option on Surrender or Lapse. - After this policy shall have been in force three full years the owner, within one month after any default, may elect (a) to accept the value of this policy in cash, or (b) to have the insurance continued in force from date of default, without further participation and without the right to loans, for its face amount, including any outstanding dividend additions, less any indebtedness to the company hereon, or (c) to purchase non-participating paid up insurance, payable at the same time and on the same

• conditions as this policy. The cash value will be the reserve at the date of default on this policy and on any dividend additions thereto, computed according to the --------- [designate mortality table adopted by the company for computing reserves] mortality table and interest at the rate of --------- [designate rate of interest adopted by the company for computing reserves] per centum per annum, less --------- [here may be inserted not more than two and one-half] per centum of the amount insured by this policy and of any dividend additions thereto, and less any existing indebtedness to the company on this policy. Payment of such' cash value may be deferred by the company for not exceeding six months after the application therefor is made. The term for which the insurance will be continued or the amount of the paid-up policy will be such as the cash value will purchase as a net single premium at the attained age of the insured according to the --------- [designate the mortality table adopted by the company for computing reserves] mortality table and interest at the rate t of ---------

[designate rate of interest adopted by the company for computing reserves] per centum per annum. If the owner shall not, within one month from default, surrender this policy to the company at its home office for a cash surrender value or for paid-up insurance as provided in options (a) and (c) the insurance will be continued as provided in option (b).

The figures in the following table are computed in accordance with the above provisions and upon the assumption that there is no indebtedness on the policy, and that there are no outstanding dividend additions.

(At the option of the company the following may be here inserted: "The figures apply to a policy for $1000. As this contract is for --------- dollars the loan, cash, or paid-up insurance available in any year will be ---------, the amount stated in the table for that year").

(Etc.)

Figures for later years will be furnished upon request.

Reinstatement. - In case of continued temporary insurance under the above provisions this policy upon evidence of insurability satisfactory to the company may be reinstated within the first three years of the term for which the insurance is continued by payment of arrears of premiums with interest at --------- [here insert not more than six] per centum per annum.

Options at Maturity. - The insured, by written notice to the company at its home office, and with the written consent of the assignee and irrevocable beneficiary, if any, may elect to have the net sum payable under this policy paid either in cash or as follows:

1. By the payment of interest thereon at --------- per centum per annum, payable annually, to the payee under this policy at the end of each year during the life of the payee and by the payment upon the death of the payee of the said net sum and accrued interest to the executors, administrators, or assigns of the payee, unless otherwise directed in said notice.

2. By the payment of equal annual instalments for a specified number of years, the first instalment being payable immediately, in accordance with the following table for each $1000.00 of said net sum.

3. By the payment of equal annual instalments payable at the beginning of each year for a fixed period of twenty years and for so many years longer as the payee shall survive in accordance with the following table for each $1000.00 of said net sum.

Instalments payable under options (2) or (3) which shall not have been paid prior to the death of the payee shall be paid, unless otherwise directed in said notice, to the executors, administrators, or assigns of the payee.

If the insured shall not have directed otherwise the beneficiary may, after the death of the insured, by like written notice, and with the written consent of the assignee, if any, select either of the above options.

Unless otherwise specified by the insured the payee may on any interest date receive the amount yet due under option (1), and may at any time receive the commuted value of payments yet to be made, computed upon the same basis as option (2) in the following table, provided that no such commutation will be made under (3) except after the death of the payee occurring within the aforesaid twenty years.

Table Of Instalments For Each $1,000

(Etc)

Agents are not authorized to modify this policy or to extend the time for paying a premium.

In witness whereof, etc.

For misrepresentation, see Sec. 373.

For duty to dlsclose facts, see Sec. 388.

For warranties, see Sec. 222, 2580 and 2689.

For specific performance of contracts for Insurance, see Sec. 3344.

For the validity of arbitration clauses, see Sec. 721 et seq. and 2613 et seq.

For the validity of provisions requiring notice as a condition precedent, tee Sec. 732 et seq. and 2609 et seq.

For the validity of provisions forbidding action for a certain time after 1o88, see Sec. 739.

For the necessity of insurable, interest, see Sec. 847 et seq.

For the effect or war, see Sec. 2744 et seq.