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[MERRILL LYNCH LOGO] MERRILL LYNCH LIFE INSURANCE COMPANY Little Rock,
Arkansas
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CHANGE OF INSURED RIDER
This rider gives you the right to change the
Insured under this policy once each policy year
as of a Policy Processing Date. A change of
Insured will generally be treated as a taxable
transaction.
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Requesting A Change You and the new insured must provide us with
satisfactory notice at our Variable Life Service
Center and evidence of insurability for the new
insured that is acceptable to us. If we approve
the request for change, insurance on the new
insured takes effect on the Policy Processing
Date on or next following the date of approval if
the new insured is then living. This is the
effective date of change.
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Requirements for Change We will change the Insured under this policy if:
- We are satisfied that under our rules the new
insured qualifies in a standard underwriting
class for the face amount of insurance
determined below.
- This policy is in effect and there is no
assignment on file with us.
- You have an insurable interest in the life
of the new insured.
- The Attained Ages as of the effective date
of change of the original Insured and new
insured are not less than the minimum nor
more than the maximum ages for which we would
then issue this policy.
- The new insured was born prior to the Policy
Date of this policy.
- The new insured is alive on the effective
date of change.
- Any Loan Debt is repaid before the change
goes into effect.
- There has been no other change of Insured
under this policy during the current policy
year.
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The Policy After Change As of the effective date of change we will change
this policy as follows:
- The Issue Date of this policy is changed to
the effective date of change.
- The Issue Age for the new insured is the new
insured's age as of the birthday nearest the
Policy Date.
- The guaranteed maximum cost of insurance
rates and Attained Age Factors are those in
effect on the Policy Date for a person with
the same Issue Age, sex, and underwriting
class as the new insured.
- The Initial Face Amount is recalculated based
on the issue age, sex and underwriting class
of the new insured. See the Guaranteed
Benefits Rider for the effect of a change of
Insured on policy guarantees.
- The maximum Change of Insured Charge,if any,
is shown in Policy Schedule 3 and is deducted
from the Account Value.
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Notice If the change takes effect, we send you a
confirmation that we have changed the Insured
under this policy; and new Policy Schedule pages
reflecting the changes above.
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This rider is part of the policy to which it is
attached.
[SIG] [SIG]
Secretary President
