Loans. - After three full years' premiums have been paid, the company at any time, while this policy is in force, will advance, on the proper assignment of this policy and on the sole security thereof, at a rate of interest not greater than --------- per centum per annum, which interest, if not paid annually, shall be added to the principal and bear the same rate of interest, a sum equal to, or, at the option of the owner of the policy, less than, the reserve at the end of the current policy year required to provide for the twenty instalments payable under this policy and for any dividend additions thereto and no more, 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. The company, however, will deduct from such loan value any existing indebtedness to the company on the policy and any unpaid balance of the premium for the current policy year, and may collect interest in advance on the loan to the end of the current policy year. Such loan may be deferred by the company for not exceeding six month's after the application therefor is made. Failure to repay any such advance or to pay interest shall not avoid this policy unless the total indebtedness hereon to the company shall equal or exceed such loan value at the time of such failure, and until one month after notice shall have been mailed by the company to the last known address of the insured and of the assignee, if any. 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.

Options 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:

1. To accept the value of this policy in cash, or

2. To have the insurance continued in force from date of default, without future participation and without the right to loans, for its face amount, including any outstanding dividend additions, less any indebtedness to the company hereon, or

3. To purchase non-participating paid-up insurance, payable, except as hereinafter provided, at the same time and on the same conditions as this policy. The cash' value will be the reserve at the date of default required to provide for the twenty instalments payable under this policy and for 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 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 cash surrender value or paid-up insurance, as provided in options (1) and (3), the insurance will be continued as provided in option (2). The paid-up or continued temporary insurance will be payable in twenty equal instalments, and the payment of twenty instalments under either option shall discharge the company from all liability under this policy.

The figures in the following table are computed in accordance with the above provision and upon the assumption that there is no indebtedness upon 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 $1,000.00. 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.")

At End of Year

Cash or Loan Value

Paid-up Life lnsurance

Continued Insurance

Years

Months

Days

3

$............................

$............................

............................

............................

............................

4

$............................

$............................

............................

............................

............................

5

$............................

$............................

............................

............................

............................

(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 premium, with interest at ---------

[here insert not greater than six] per centum per annum.

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

In witness whereof, etc.

See references under Sec. 3870