Optional Modes Of Settlement

Choice of one of the following available to a life insurance policy owner (or beneficiary, if entitled to receive a death benefit in a lump sum at the death of an insured):

1. INTEREST OPTION death benefit left on deposit at interest with the insurance company with earnings paid to the beneficiary annually.The beneficiary can withdraw part or all of the principal of the death proceeds, subject to any restrictions the policy owner may have placed on this option.
2. fixed amount option death benefit paid in a series of fixed amount installments until the proceeds and interest earned terminate.
3. fixed period option death benefit left on deposit with the insurance company with the death benefit plus interest thereon paid out in equal payments for the period of time selected.
4. life income option death benefit plus interest paid through a life annuity. Income continues under a straight life income option, for as long as the beneficiary lives; or whether or not the beneficiary lives, under a life income with period certain option.