MISREPRESENTATION OR SUICIDE. If the Company returns premium on a Policy to the policy owner or beneficiary as a result of misrepresentation, suicide of the insured, then all premiums and considerations paid under this Agreement for such Policy will be returned by the Reinsurer and the Company to the other party in lieu of any other form of reinsurance benefit payable under this Agreement. For survivorship (second-to-die) Policies, if a single life Policy is issued to the surviving life where the death of the first insured is by suicide, such resulting Policy shall be issued with the issue date of the original survivorship Policy and shall become reinsured hereunder in accordance with the terms of this Agreement.
Appears in 3 contracts
Samples: Reinsurance Agreement, Coinsurance Reinsurance Agreement (John Hancock Life Insurance Co (Usa) Separate Account A), Automatic and Facultative (John Hancock Life Insurance Co (Usa) Separate Account A)
MISREPRESENTATION OR SUICIDE. If the Company returns premium on a Policy to the policy owner policyowner or beneficiary as a result of misrepresentation, misrepresentation or suicide of the insured, then all premiums and considerations paid under this Agreement for such Policy will be returned by the Reinsurer and the Company to the other party in lieu of any other form of reinsurance benefit payable under this Agreement. For survivorship (second-to-die) Policies, if a single life Policy is issued to the surviving life where the death of the first insured is by suicide, such resulting Policy shall be issued with the issue date of the original survivorship Policy and shall become reinsured hereunder in accordance with the terms of this Agreement.
Appears in 2 contracts
Samples: Automatic and Facultative (Nationwide VLI Separate Account-7), Automatic and Facultative (Nationwide VL Separate Account-G)
