11.2 Reduced paid-up

Type	When To Do	Forms/Requirements	Remarks
11.2 Reduced Paid-Up Insurance	A policy owner may elect to continue the policy with cash value as a Non-Participating, paid-up Insurance for a reduced face amount without further remittance of premium.	Request for Change Form (x 2) The forms must be properly signed by the insured / applicant and the assignee or trustee, if any.	If premiums have not been paid for a full year, the values will be determined on a pro-rated basis. However, the values are subject to modification on account of any dividend / bonus credits and loan indebtedness. Reduced Paid-Up insurance policies cannot be reinstated.