Life Insurance 12. Definitions

Question 1

1. Insured

Answer 1

The person whose life is insured under the Policy as shown on the Schedule

Question 2

2. Irrevocable Beneficiary

Answer 2

A Beneficiary the Owner CANNOT change without the Irrevocable Beneficiary’s written consent.

Question 3

3. Issue Age

Answer 3

The Insured’s age on the Policy Effective Date. The Issue Age is shown on the Schedule.

Question 4

4. Issue Date

Answer 4

The date shown on the Schedule. AAA will use this date to measure the time periods on the Suicide and Incontestability Provisions of the Policy.

Question 5

5. Maximum Annual Premium

Answer 5

The highest annual Premium that AAA can charge for each Policy Year. It is shown in the Table of Annual Premiums. The Maximum Annual Premium includes Premiums payable for any benefit Riders attached to this policy.

Question 6

6. Owner

Answer 6

The person or entity that has full rights and privileges to the benefits of this Policy, while the Insured is living.

Question 7

7. Payee

Answer 7

The person or entity to whom AAA makes benefit payments.