The amount payable is the sum of the following as of the date of the insured's death:
*the face amount;
*any insurance on the insured's life
provided by additional benefit riders;
*any insurance on the insured's life purchased with dividends;
*the value of any dividends left at interest;
*any dividend credited at death; and
*any premium paid beyond the policy month of death if premiums are not then being waived under a waiver of premium rider;
less:
*any outstanding loans and loan interest; and
*any premiums due up to and including the policy month of death.