(a) Any provision for forfeiture of the policy for failure to repay any loan on the policy or to pay interest on any such loan, while the total indebtedness on the policy is less than the cash value thereof. In ascertaining the indebtedness due upon the policy loan, the interest, if not paid when due, shall be added to the principal of such loan, and shall bear interest at the rate specified in the note or loan agreement.

(b) Any provision limiting the time within which any action at law or equity may be commenced to less than two years after the cause of action shall accrue.

(c) Any provision by which the policy shall purport to be issued or to take effect more than six months before the original application for the insurance was made.

(d) Any provision for a mode of settlement at maturity of less value than the amount insured on the face of the policy, plus dividend additions, if any, less the indebtedness to the company on the policy, and less any premiums that may by the terms of the policy be deducted.