ANNUITIZATION. 1. Any policy annuitizing (going into pay-out status under an immediate annuity plan or guaranteed settlement option) shall be deemed to be recaptured by the Reinsured.
Appears in 8 contracts
Samples: Reinsurance Agreement (Separate Account Va B), Reinsurance Agreement (Separate Account Va-2l), Reinsurance Agreement (Separate Account Va C)
ANNUITIZATION. 1. Any policy annuitizing annuitized Policy (going into pay-out status under an immediate annuity plan or guaranteed settlement optionoption offered in the contract) shall be deemed to be recaptured by the ReinsuredReinsured and the Reinsurer shall have no further liability for the annuitized Policy.
Appears in 1 contract
Samples: Annuity Reinsurance Agreement (Kilico Variable Annuity Separate Account)
