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' � « <br /> 7. BENEFIT AMOUNTS: <br /> Each eligible employee and spouse may elect an Amount of Insurance (in increments of$10,000) for which he is <br /> eligible. The minimum amount of insurance coverage which may be elected is $10,000 and the maximum is <br /> $500,000, subject to age and evidence of insurability requirements, as applicable. <br /> The Amount of Insurance in effect on the Insured employee is subject to automatic reduction beginning at age 75 as <br /> shown in the Table below. This reduction applies equally to those Insureds initiating insurance coverage at age 75 or <br /> over. <br /> AT AGE FACE AMOUNT REDUCES TO: <br /> 75-79 60.0%of available or in force amount at age 74 <br /> 80-84 35.0%of available or in force amount at age 74 <br /> 85-89 27.5%of available or in force amount at age 74 <br /> 90-94 20.0%of available or in force amount at age 74 <br /> 95-99 7.5%of available or in force amount at age 74 <br /> 100 + 5.0%of available or in force amount at age 74 <br /> The Amount of Insurance on a Dependent spouse automatically terminates at age 75. <br /> The Amount of Insurance for each eligible Dependent child is as follows: <br /> ATTAINED AGE AMOUNT OF INSURANCE <br /> Less than 14 days None <br /> 14 days but less than 6 months $1,000 <br /> 6 months but less than 26 years $2,500, $5,000, $7,500 or$10,000, <br /> as elected on the individual application. <br /> The Amount of Insurance will be reduced by an amount equal to the Accelerated Benefit paid for the insured person. <br /> 8. CHANGES: <br /> Automatic decreases in the Amount of Insurance due to an insured employee's age are effective on the Anniversary <br /> Date coinciding with or next following the date the change occurs. <br /> If a change in the insured employee's Amount of Insurance is received that would alter the calculation of a benefit <br />' reduction based on age, the benefit reduction will be recalculated using the new benefit amount. The recalculated <br /> benefit amount will become effective as described above. <br /> If an increase in, or initial application for, an Amount of Insurance is due to a life event change (such as marriage, <br /> birth or specific changes in employment status), medical evidence of insurability will not be required, provided the <br /> eligible employee completes, signs and returns the application within thirty-one (31) days of such life event. A <br /> change due to a life event will become effective on the Individual Effective Date. <br /> LRS-8348-01-0592 <br />