You may choose to use your policy dividends in multiple ways. Most policyowners choose to purchase additional coverage with their dividends increasing the policy's face amount and cash value. Another way to use dividends is to reduce premium payments. A third option is to accumulate your dividends at interest. Or you can choose to receive your dividends in cash.

The following graphs show how these dividend options affect the policy's death benefit and cash value over time.

You may borrow from the cash value of the policy. Loans may be taken at a fixed 8% interest rate, or a variable loan rate determined annually. The amount borrowed from the cash value affects the amount of dividends you will receive. Any unpaid loans, along with accumulated interest, will be deducted from the proceeds at death or if the policy is surrendered prior to death. Within contractual limitations, there is a maximum value that can be borrowed that is less than the total cash value of the policy.

To protect yourself if you are ever unable to pay your policy premiums, you can choose one of our four nonforfeiture options.

• Automatic Premium Loan—Money is automatically borrowed from the cash value to pay overdue premiums and interest is charged until the loan is repaid. If this option is not elected, or if the cash value will not cover the premium amount, the nonforfeiture option will default to Extended Term Insurance.

• Extended Term Insurance—Keeps the full death benefit in force by using the cash value of the policy to purchase Extended Term Insurance. The term insurance remains in force until the cash value from the 65 Life policy no longer covers the daily term insurance charges. Coverage then terminates.

• Paid-Up Insurance—Keeps some level of protection in force by using the policy's entire cash value to purchase paid-up whole life insurance. The face value of the paid-up insurance will be less than the face amount of the 65 Life policy. The paid-up policy remains in force until the insured dies.

• Cash Surrender—Elect to receive the policy's cash value by surrendering the policy. Any outstanding loan balance and accrued loan interest will be deducted from the cash value.

The following benefits are subject to underwriting and additional cost.

• Waiver of Premium—Waives the payment of all premiums that come due during the disability of the insured person. For premiums to be waived, total disability must exist continuously for a period of six months and result from an accident or sickness. Total disability is defined in the terms of the policy contract. Available for insured persons ages 0-55.

• Indexed Protection Benefit—Increases the policy's death benefit in years two through ten of the policy. The increase is based on the Consumer Price Index with an annual cap of 8%. Available for insured persons ages 0-55.

• Additional Purchase Benefit—Guarantees the right to buy an additional permanent policy at specified dates without evidence of insurability. Available for insured persons ages 0-38.

• Payor Benefit—Premiums on a minor's policy are waived until the policy anniversary nearest the insured's 25th birthday if the individual paying premiums dies or becomes totally disabled(2). Available for insured persons ages 0-14 when the payer is ages 18-55 and is responsible for the support of the insured.

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