Payout Annuities. (“Payout Annuities”) will be reinsured hereunder as a Reinsured Policy as of the date of such annuitization. As consideration for the Reinsurer’s reinsurance of each Payout Annuity, the Reinsurer shall be entitled to an amount to the Ceding Company in respect of such annuitization (in each case, the “Lump Sum Annuity Payment”).
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Samples: Coinsurance and Modified Coinsurance Agreement (Farmers Annuity Separate Account A)
