Lapses. When a policy issued by the Company lapses, the corresponding reinsurance on the Reinsured Policy will be terminated effective the same date. Unless specified otherwise in this Agreement, if a policy fully retained by the Company lapses, the terms of Article 7.3 will apply. Full retention shall be defined as specified in Exhibit D of this Agreement. If a policy issued by the Company lapses and extended term insurance is elected under the terms of that policy, the corresponding reinsurance on the Reinsured Policy will continue on the same basis as the original Reinsured Policy until the expiry of the extended term period.
Appears in 5 contracts
Samples: Coinsurance Reinsurance Agreement (Thrivent Variable Life Account I), Reinsurance Agreement (Thrivent Variable Life Account I), Reinsurance Agreement (Allstate Assurance Co Variable Life Separate Account)
Lapses. When a policy issued by the Company lapses, the corresponding reinsurance on the Reinsured Policy will be terminated effective the same date. Unless specified otherwise in this Agreement, if a policy fully retained by the Company lapses, the terms of Article 7.3 will apply. Full retention shall be defined as specified in Exhibit D of this Agreement. If a policy issued by the Company lapses and extended term insurance is elected under the terms of that policy, the corresponding reinsurance on the Reinsured Policy will continue on the same basis as the original Reinsured Policy until the expiry of the extended term period.. 196474US-08 ml 20070727 (ODB#I02020US-08) 8
Appears in 2 contracts
Samples: Yrt Reinsurance Agreement (Nationwide VL Separate Account-G), Yrt Reinsurance Agreement (Nationwide VL Separate Account-G)
Lapses. When a policy issued by the Company lapses, after the greater of the number of days for all state mandated grace periods and the number of days for the Company’s administrative procedures for lapsing policy to take place, the corresponding reinsurance on the Reinsured Policy will be terminated effective the same date. Unless specified otherwise in this Agreement, if a policy fully retained by the Company lapses, the terms of Article 7.3 will apply. Full retention shall be defined as specified in Exhibit D of this Agreement. If a policy issued by the Company lapses and extended term insurance is elected under the terms of that policy, the corresponding reinsurance on the Reinsured Policy will continue on the same basis as the original Reinsured Policy until the expiry of the extended term period.
Appears in 2 contracts
Samples: Reinsurance Agreement (Vericity, Inc.), Reinsurance Agreement (Vericity, Inc.)
Lapses. When a policy issued by the Company lapses, the corresponding reinsurance on the Reinsured Policy will be terminated effective the same date. Unless specified otherwise in this Agreement, if a policy fully retained by the Company lapses, the terms of Article 7.3 will apply. Full retention shall be defined as specified in Exhibit D of this Agreement. If a policy issued by the Company lapses and extended term insurance is elected under the terms of that policy, the corresponding reinsurance on the Reinsured Policy will continue on the same basis as the original Reinsured Policy until the expiry of the extended term period.
Appears in 2 contracts
Samples: Yrt Reinsurance Agreement (Tiaa-Cref Life Separate Account Vli-1), Reinsurance Agreement (Thrivent Variable Life Account I)
Lapses. When a policy issued by the Company lapses, the corresponding reinsurance on the Reinsured Policy will be terminated effective the same date. Unless specified otherwise in this Agreement, if a policy fully retained by the Company lapses, the terms of Article 7.3 6.3 will apply. Full retention shall be defined as specified in Exhibit D of this Agreement. If a policy issued by the Company lapses and extended term insurance is elected under the terms of that policy, the corresponding reinsurance on the Reinsured Policy will continue on the same basis as the original Reinsured Policy until the expiry of the extended term period.. If a policy issued by the Company lapses and reduced paid-up insurance is elected under the terms of that policy, the amount of the corresponding reinsurance on the Reinsured Policy will be reduced according to the terms of Article 6.3. I453238US-13 (04-01-2013)
Appears in 1 contract
Samples: Reinsurance Agreement (American Family Variable Account I)
Lapses. When a policy issued by the Company lapses, the corresponding reinsurance on the Reinsured Policy will be terminated effective the same date. Unless specified otherwise in this Agreement, if a policy fully retained by the Company lapses, the terms of Article 7.3 will apply. Full retention shall be defined as specified in Exhibit D of this Agreement. If a policy issued by the Company lapses and extended term insurance is elected under the terms of that policy, the corresponding reinsurance on the Reinsured Policy will continue on the same basis as the original Reinsured Policy until the expiry of the extended term period.. 1210705BUS-19 (01-01·2019) IOT17346US1Bl
Appears in 1 contract
Samples: Thrivent Variable Life Account I
Lapses. When a policy issued by the Company lapses, the corresponding reinsurance on the Reinsured Policy will be terminated effective the same date. Unless specified otherwise in this Agreement, if a policy fully retained by the Company lapses, the terms of Article 7.3 will apply. Full retention shall be defined as specified in Exhibit D of this Agreement. If a policy issued by the Company lapses and extended term insurance is elected under the terms of that policy, the corresponding reinsurance on the Reinsured Policy will continue on the same basis as the original Reinsured Policy until the expiry of the extended term period.. If a policy issued by the Company lapses and reduced paid-up insurance is elected under
Appears in 1 contract
Samples: Administered Yrt Reinsurance Agreement (Ameritas Variable Separate Account V)
