Common use of Compensation Payments Clause in Contracts

Compensation Payments. Compensation on initial premium shall be due to the --------------------- SELLING BROKER-DEALER at the time of the issuance of the policy and for all other premium payments at the time of the receipt and acceptance of premium by SECURITY LIFE, except that the amount, if any, and the time of payment of compensation on replacements, reissues, changes, conversions, exchanges, term renewals, term conversions, premiums paid in advance, policies issued on a "guaranteed issue" basis, policies requiring facultative reinsurance arrangements, and other special cases and programs shall be governed by SECURITY LIFE'S underwriting and administrative rules then in effect. The Compensation shall be payable to the SELLING BROKER-DEALER in accordance with the Schedule B in effect at the time of issue of the policy.

Appears in 2 contracts

Samples: Selling Agreement (Security Life Separate Account A1), Security Life Separate Account L1

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Compensation Payments. Compensation on initial premium premiums shall be due to the --------------------- SELLING BROKER-DEALER at the time of the issuance of the policy and for all other premium payments policy. Thereafter, it shall be payable at the time of the receipt and acceptance of premium by SECURITY LIFE, except that the amount, if any, and the time of payment of compensation on stated death benefit increases, replacements, reissues, changes, conversions, exchanges, term renewals, term conversions, premiums paid in advance, policies issued on a "guaranteed issue" basis, policies requiring facultative reinsurance arrangements, and other special cases and programs shall be governed by SECURITY LIFE'S underwriting and administrative rules then in effect. The Compensation shall be payable to the SELLING BROKER-DEALER in accordance with the Schedule B J in effect at the time of issue of the policy.

Appears in 2 contracts

Samples: Security Life Separate Account L1, Security Life Separate Account L1

Compensation Payments. Compensation on initial premium shall be due to the --------------------- SELLING BROKER-DEALER at the time of the issuance of the policy and for all other premium payments at the time of the receipt and acceptance of premium by SECURITY LIFE, except that the amount, if any, and the time of payment of compensation on replacements, reissues, changes, conversions, exchanges, term renewals, term conversions, premiums paid in advance, policies issued on a "guaranteed issue" basis, policies requiring facultative reinsurance arrangements, and other special cases and programs shall be governed by SECURITY LIFE'S underwriting and administrative rules then in effect. The Compensation shall be payable to the SELLING BROKER-DEALER in accordance with the Schedule B D in effect at the time of issue of the policy.

Appears in 2 contracts

Samples: Selling Agreement (Security Life Separate Account A1), Security Life Separate Account L1

Compensation Payments. Compensation on initial premium shall be due to the --------------------- SELLING BROKER-DEALER at the time of the issuance of the policy and for all other premium payments at the time of the receipt and acceptance of premium by SECURITY LIFE, except that the amount, if any, and the time of payment of compensation on stated death benefit increases, replacements, reissues, changes, conversions, exchanges, term renewals, term conversions, premiums paid in advance, policies issued on a "guaranteed issue" basis, policies requiring facultative reinsurance arrangements, and other special cases and programs shall be governed by SECURITY LIFE'S underwriting and administrative rules then in effect. The Compensation shall be payable to the SELLING BROKER-DEALER in accordance with the Schedule B H in effect at the time of issue of the policy.

Appears in 1 contract

Samples: Security Life Separate Account L1

Compensation Payments. Compensation on initial premium shall be due to the --------------------- SELLING BROKERSelling Broker-DEALER Dealer at the time of the issuance of the policy and for all other premium payments at the time of the receipt and acceptance of premium by SECURITY LIFESecurity Life, except that the amount, if any, and the time of payment of compensation on stated death benefit increases, replacements, reissues, changes, conversions, exchanges, term renewals, term conversions, premiums paid in advance, policies issued on a "guaranteed issue" basis, policies requiring facultative reinsurance arrangements, and other special cases and programs shall be governed by SECURITY LIFE'S Security Life's underwriting and administrative rules then in effect. The Compensation shall be payable to the SELLING BROKERSelling Broker-DEALER Dealer in accordance with the Schedule B in effect at the time of issue of the policy.

Appears in 1 contract

Samples: Security Life Separate Account L1

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Compensation Payments. Compensation on initial premium shall be due to the --------------------- SELLING BROKERSelling Broker-DEALER Dealer at the time of the issuance of the policy and for all other premium payments at the time of the receipt and acceptance of premium by SECURITY LIFESecurity Life, except that the amount, if any, and the time of payment of compensation on stated death benefit increases, replacements, reissues, changes, conversions, exchanges, term renewals, term conversions, premiums paid in advance, policies issued on a "guaranteed issue" basis, policies requiring facultative reinsurance arrangements, and other special cases and programs shall be governed by SECURITY LIFE'S Security Life's underwriting and administrative rules then in effect. The Compensation shall be payable to the SELLING BROKERSelling Broker-DEALER Dealer in accordance with the Schedule B N in effect at the time of issue of the policy.

Appears in 1 contract

Samples: Selling Agreement (Security Life Separate Account L1)

Compensation Payments. Compensation on initial premium shall be due to the --------------------- SELLING BROKER-DEALER at the time of the issuance of the policy and for all other premium payments at the time of the receipt and acceptance of premium by SECURITY LIFE, except that the amount, if any, and the time of payment of compensation on replacements, reissues, changes, conversions, exchanges, term renewals, term conversions, premiums paid in advance, policies issued on a "guaranteed issue" basis, policies requiring facultative reinsurance arrangements, and other special cases and programs shall be governed by SECURITY LIFE'S underwriting and administrative rules then in effect. The Compensation shall be payable to the SELLING BROKER-DEALER in accordance with the Schedule B H in effect at the time of issue of the policy.

Appears in 1 contract

Samples: Security Life Separate Account L1

Compensation Payments. Compensation on initial premium shall be due to the --------------------- SELLING BROKER-DEALER at the time of the issuance of the policy and for all other premium payments at the time of the receipt and acceptance of premium by SECURITY LIFE, except that the amount, if any, and the time of payment of compensation on replacements, reissues, changes, conversions, exchanges, term renewals, term conversions, premiums paid in advance, policies issued on a "guaranteed issue" basis, policies requiring facultative reinsurance arrangements, and other special cases and programs shall be governed by SECURITY LIFE'S underwriting and administrative rules then in effect. The Compensation shall be payable to the SELLING BROKER-DEALER in accordance with the Schedule B in effect at the time of issue of the policy.

Appears in 1 contract

Samples: Security Life Separate Account L1

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