ACCEPTED COVERAGES Clause Samples
The "Accepted Coverages" clause defines which types of insurance or protection are recognized and approved under the terms of an agreement. It typically lists specific insurance policies, such as general liability, property, or workers' compensation, that a party must maintain to comply with contractual requirements. By clearly identifying acceptable forms of coverage, this clause ensures that all parties understand their obligations and helps prevent disputes over whether adequate insurance is in place, thereby allocating risk and promoting clarity in contractual relationships.
ACCEPTED COVERAGES. Issuing Companies: Policies issued by the MML Bay State Life Insurance Company of Hartford, Connecticut, C.M. Life Insurance Company of Hartford, Connecticut, or Massachusetts Mutual Life Insurance Company of Springfield, Massachusetts, may be reinsured under this Agreement. Type of Business: .
ACCEPTED COVERAGES. Issuing Companies: Policies issued by the MML Bay State Life Insurance Company of Enfield, Connecticut, C.M. Life Insurance Company of Enfield, Connecticut, or Massachusetts Mutual Life Insurance Company of Springfield, Massachusetts, may be reinsured under this Agreement. Type of Business: Life insurance only. Supplemental benefits, including Accidental Death Benefits and Disability Waiver of Premium, shall not be reinsured under this Agreement. Plans of Insurance: Variable Universal Life III and the following riders: Substitute of Insured Rider (SIR) and Guaranteed Insurability Rider (GIR). Rider coverage not requiring evidence of insurability shall be point-in-scale when exercised.
ACCEPTED COVERAGES. Issuing Companies: Policies issued by the MML Bay State Life Insurance Company of Enfield, Connecticut, C.M. Life Insurance Company of Enfield, Connecticut, or Massachusetts Mutual Life Insurance Company of Springfield, Massachusetts, may be reinsured under this Agreement. Type of Business: Life insurance only. Supplemental benefits, including Accidental Death Benefits and Disability Waiver of Premium, shall not be reinsured under this Agreement. New Business: New Business are those policies on which (a) the Ceding Company has obtained complete and current underwriting evidence on the full amount issued, (b) the full normal commissions are paid by the Ceding Company for the new plan, and (c) the suicide and contestable provisions apply from the effective date of the new plan. In the event of an internal exchange, if the state in which a replacement policy is issued requires waiver of the suicide and/or contestable provisions, then Reinsurer will honor that obligation and waive suicide and/or contestable provisions. Plans of Insurance: Variable Universal Life III and the following Riders: Substitute of Insured (SIR) and Guaranteed Insurability Rider (GIR). Rider coverage not requiring evidence of insurability shall be point-in-scale when exercised.