Unless prohibited by any assignment or any other lawful act / restriction, the Owner hereby reserves the right, during the lifetime of the Proposed Insured and without the consent of any beneficiary or trustee, by written notice to the Company in its prescribed form to: (a) Change and revoke the appointment of any beneficiary and substitute his / her own name or any other name therefor; and (b) Appoint a trustee to receive proceeds for the beneficiary, and change or revoke any prior trustee designation or appointment. The company is not responsible for the validity of any appointment or revocation and for any subsequent written notice of a change of beneficiary received by it pending the issue of ensdorsement.


1.       If more than one beneficiary is designated, all policy proceeds will be paid to the beneficiaries according to order of payment (if any) and share(s) specified or in equal shares (where the beneficiaries rank equally and their respective shares are not specified).

2.       The above change of beneficiary designation shall be effective only while the relevant Policy is in force and to the extent permitted by law.