106. Condition reducing the sum insured, void
Any term or condition of a policy which limits, to an amount less than the sum insured, the amount payable under the policy, in the event of death of the life insured, shall not have any force or effect unless the person who effected the policy agreed in writing to the insertion in the policy of that term or condition.
Paid-up Policies, Surrender Values, and Non-Forfeiture