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Dear Policyowner:
We have not yet received the current premium for this
policy and it no longer provides the protection you
originally wanted.
The policy lapsed to $40,760 of insurance which will be
in effect until MARCH 9, 2004.
When your policy lapsed, loan interest of $21,955.05
was repaid.
The policy lapse resulted in taxable income of
$18,171.23 which we are required by law to report to
the IRS. A 1099R form will be sent to you in January.
We are also required to ask that you complete and
return the enclosed Substitute W9 form to ensure the
correct reporting of this income.
However, you can apply to restore full
protection and policy values and avoid the
taxable income. To do so, you must take
these easy steps:
- Complete and sign the enclosed Request for
Reinstatement.
- Return the Request and your payment for the
Amount Due before FEBRUARY 12, 2003.
We will do the rest. If the request is approved, you
will continue to enjoy all the valuable benefits the
policy was designed to provide.
We will not be sending you another reminder, so we urge
you to mail the completed request and your payment
today. If you have any questions, contact your
Financial Representative shown below or your Service
Representative in the Policyowner Services Department
at the home office.
The firm did not apply to restore the policy and did not make any
further premium payments to prevent the policy from lapsing.
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Last modified: March 27, 2008