CERTIFICATE LOAN AND NON-FORFEITURE OPTIONS CERTIFICATE LOANS If a certificate is in force and has a loan value greater than $100, then the certificate holder may take a loan under this policy. The loan value is the cash value minus: 1. the existing certificate debt; 2. the interest on the existing certificate debt and the amount to be borrowed to the next certificate anniversary date; 3. any unpaid monthly premiums; and 4. an amount equal to 2 monthly premium payments. Loans are evidenced by our check payable to and endorsed by the certificate holder, or electronic versions of the same. The minimum certificate loan amount is $100, unless it is used to pay premiums on a certificate. LOAN INTEREST The interest we will charge on certificate debt is shown in the certificate. Interest on certificate debt is due and payable in arrears at the end of each certificate anniversary date. Interest not paid when due will be added to the existing certificate debt and bear interest at the same rate. LOAN REPAYMENT The certificate holder may repay certificate debt at any time, except that: 1. repayment must be made while the certificate is in force and while the insured is living; and 2. a partial repayment must be at least $25. A loan that exists at the end of the grace period cannot be repaid. If at any time the certificate debt exceeds the cash value, the certificate terminates. NON-FORFEITURE If a certificate is in force and has a net surrender value greater than zero, then the certificate holder may select one of the following non-forfeiture options by written request: 1. Cash Surrender. The certificate holder may surrender his or her certificate to receive the net surrender value. If a certificate is surrendered during the grace period, the net surrender value will not be less than the net surrender value on the premium due date. 2. Reduced Paid-Up Insurance. The reduced paid-up death benefit will be the death benefit amount divided by 1,000, then multiplied by the reduced paid-up amount shown in the Table of Guaranteed Values in the certificate. Any outstanding loans will be continued. No further premiums are required. Coverage is still subject to the Termination of Coverage provision of this policy. Once elected, the reduced paid-up insurance option can be surrendered at any time. The surrender is effective on the date we receive the certificate holder’s written request. Once the reduced paid-up insurance is surrendered, it cannot be reversed. 3. Extended Term Insurance. The net surrender value is used as a net single premium to purchase extended term insurance for a limited period for the insured. The amount of extended term insurance is the certificate death benefit amount on the date the extended term insurance becomes effective. No further premiums are required. The extended term insurance is not available if the certificate is rated. Coverage is still subject to the Termination of Coverage provision of this policy. Once elected, the extended term insurance option can be surrendered at any time. The surrender is effective on the date we receive the certificate holder’s written request. Once the extended term insurance is surrendered it cannot be reversed. GWLPIN Page 13