Decreases In Coverage. A coverage decrease will be applied to a last previous coverage increase, if any, or to the initial coverage should no coverage increase have taken place. Such decrease will serve to reduce target premium for the full period so that any regular compensation on subsequent premium received will be based on lower target premium (i.e. The total of renewal compensation payable will be based on nine APPENDIX C (CONTINUED) times the lower target premium). Any premium amount applied over such lower target premium will be compensated at excess rates for policy years 2 through 10 and at service fee rates for policy years 11 and greater. First year compensation will be paid on coverage increases only to the extent such increases should exceed previous coverage decreases.
Appears in 3 contracts
Samples: Agreement (Guardian Separate Acct N of the Guardian Ins & Annuity Co), Brokerage Agreement (Guardian Separate Acct N of the Guardian Ins & Annuity Co), Representative Agreement (Guardian Separate Acct N of the Guardian Ins & Annuity Co)
Decreases In Coverage. A coverage decrease will be applied to a last previous coverage increase, if any, or to the initial coverage should no coverage increase have taken place. Such decrease will serve to reduce target premium for the full period so that any regular compensation on subsequent premium received will be based on lower target premium (i.e. The total of renewal compensation payable will be based on nine APPENDIX C (CONTINUED) times the lower target premium). Any premium amount applied over such lower target premium will be compensated at excess rates for policy years 2 through 10 and at service fee rates for policy years 11 and greater. APPENDIX C (CONTINUED) First year compensation will be paid on coverage increases only to the extent such increases should exceed previous coverage decreases.
Appears in 2 contracts
Samples: Memorandum of Agreement (Guardian Separate Account K), Memorandum of Agreement (Guardian Separate Acct N of the Guardian Ins & Annuity Co)
Decreases In Coverage. A coverage decrease will be applied to a last previous coverage increase, if any, or to the initial coverage should no coverage increase have taken place. Such decrease will serve to reduce target premium for the full period so that any regular compensation on subsequent premium received will be based on lower target premium (i.e. The total of renewal compensation payable will be APPENDIX D (CONTINUED) based on nine APPENDIX C (CONTINUED) times the lower target premium). Any premium amount applied over such lower target premium will be compensated at excess rates for policy years 2 through 10 and at service fee rates for policy years 11 and greater. First year compensation will be paid on coverage increases only to the extent such increases should exceed previous coverage decreases.
Appears in 1 contract
Decreases In Coverage. A coverage decrease will be applied to a last previous coverage increase, if any, or to the initial coverage should no coverage increase have taken place. Such decrease will serve to reduce target premium for the full period so that any regular compensation on subsequent premium received will be APPENDIX D (CONTINUED) based on lower target premium (i.e. The total of renewal compensation payable will be based on nine APPENDIX C (CONTINUED) times the lower target premium). Any premium amount applied over such lower target premium will be compensated at excess rates for policy years 2 through 10 and at service fee rates for policy years 11 and greater. First year compensation will be paid on coverage increases only to the extent such increases should exceed previous coverage decreases.
Appears in 1 contract
Decreases In Coverage. A coverage decrease will be applied to a last previous coverage increase, if any, or to the initial coverage should no coverage increase have taken place. Such decrease will serve to reduce target premium for the full period so that any regular compensation on subsequent premium received will be based on lower target premium (i.e. The total of renewal compensation payable will be based on nine APPENDIX C (CONTINUED) times the lower target premium). Any premium amount applied over such lower target premium will be compensated at excess rates for policy years 2 through 10 and at service fee rates for policy years 11 and greater. APPENDIX D (CONTINUED) First year compensation will be paid on coverage increases only to the extent such increases should exceed previous coverage decreases.
Appears in 1 contract
Samples: General Agency (Guardian Separate Acct N of the Guardian Ins & Annuity Co)
Decreases In Coverage. A coverage decrease will be applied to a last previous coverage increase, if any, or to the initial coverage should no coverage increase have taken place. Such decrease will serve to reduce target premium for the full period so that any regular compensation on subsequent premium received will be based on APPENDIX C (CONTINUED) lower target premium (i.e. The total of renewal compensation payable will be based on nine APPENDIX C (CONTINUED) times the lower target premium). Any premium amount applied over such lower target premium will be compensated at excess rates for policy years 2 through 10 and at service fee rates for policy years 11 and greater. First year compensation will be paid on coverage increases only to the extent such increases should exceed previous coverage decreases.
Appears in 1 contract
