Common use of BACKDATING Clause in Contracts

BACKDATING. The Reinsurer agrees to accept reinsurance coverage for policies backdated not to exceed 1 year (where the suicide and contestable clauses begin the date the policy is issued, not the back dated date) or 6 months (where the suicide and contestable clauses are back dated as well) and the maximum allowed by the state in which the policy is issued prior to the effective date of this Agreement. However, it is agreed that the Reinsurer shall not be liable for any mortality risks on such policies until the effective date of this Agreement. The Reinsurer agrees to pay allowances with effect from each policy year date of each policy and the Company agrees to remit reinsurance premiums due from the policy year date of each policy.