CERTIFICATE HOLDER AND BENEFICIARY CERTIFICATE HOLDER All certificate rights and privileges belong to a certificate holder and may be exercised by a certificate holder during the lifetime of an insured. If a certificate holder dies before the insured, the insured (or a minor insured’s legal guardian) becomes the certificate holder with limited rights and privileges for a period of 31 days from the date we receive notification of the certificate holder’s death. During that time, the insured (or a minor insured’s legal guardian) may exercise the Portability Privilege. In the event the insured (or a minor insured’s legal guardian) does not exercise the Portability Privilege, the certificate will terminate and any net surrender value will be paid to the insured. BENEFICIARY Subject to the terms and conditions of this policy and any attached rider(s), the beneficiary receives the death benefit when an insured dies. The certificate holder may name a beneficiary on the beneficiary designation form, enrollment form, and/or evidence of insurability form. The beneficiary may be changed by a certificate holder, as explained in the Change of Beneficiary provision. “Beneficiary” as used in this policy refers to two classes of beneficiaries: primary and contingent beneficiaries. We will pay the death benefit to the beneficiary in the following order: 1. to the primary beneficiary, if living; otherwise, 2. to the contingent beneficiary. If there is more than one beneficiary in a class and one of the beneficiaries dies before the insured, the remaining beneficiaries in that class will divide the deceased beneficiary’s share equally. If two or more beneficiaries are designated and their shares are not specified, we will pay the designated beneficiaries in equal shares. If there is no named beneficiary, or if the named beneficiary does not survive the insured, we will pay any benefits due at an insured’s death in the following order: 1. to the living certificate holder; otherwise, 2. to the insured’s living spouse; otherwise, 3. to the insured’s living natural or legally adopted child(ren) in equal shares; otherwise, 4. to the insured’s living parents in equal shares; otherwise, 5. to the insured’s living natural or legally adopted siblings in equal shares; otherwise, 6. to the insured’s estate. CHANGE OF BENEFICIARY Any change of beneficiary must be filed at our home office in a form acceptable to us. It will not take effect unless so filed, but if so filed and accepted by us, will take effect on the date signed by a certificate holder. This will be true whether or not an insured is living on the date it is filed. There will be no prejudice to us on account of any payment we make prior to its receipt by us at our home office. The right to change a beneficiary is reserved to a certificate holder. The consent of the beneficiary or beneficiaries will not be required to assign benefits or to change a beneficiary or beneficiaries, or to make any other changes, unless the designation of the beneficiary is irrevocable. ASSIGNMENT OF BENEFITS An assignment of benefit is not binding on us unless: 1. it is a written request; and 2. it is received by us at our home office. An assignment will take effect when recorded at our home office. We are not responsible for the validity of any assignment. GWLPIN Page 11