Common use of Policy Information Clause in Contracts

Policy Information. Policy No. Ceding Company’s policy number. Policies should be listed in numerical order. Plan Ceding Company’s plan code. DOI Full policy date (MM/DD/YY). This is the date from which renewal processing will be driven. DRN Duration from original policy date (i.e., where attained scale rates apply to policy conversions or replacements). A/F Automatic/Facultative indicator. Business ceded on a fac/ob basis can be indicated by an “0” in this field. Rating Indicate table if substandard. 100% for standard issues. Flat Flat extra amount per thousand. Yrs Duration of flat extra (number of years). OPT For Universal Life plans only, indicate death benefit Option 1 or 2. Under Option 1, the level death benefit option, the amount at risk decreases as the cash value accumulates. Option 2 produces an increasing death benefit, equivalent to the specified amount plus the accumulated cash value. The Reinsured Net Amount at Risk remains level under this option. COV L – Basic Coverage WP – Waiver of Premium ADB – Accidental Death Benefit DIRECT FACE Full face amount of the coverage at issue.

Policy Information. Policy No. Ceding Company’s 's policy number. Policies should be listed in numerical order. Plan Ceding Company’s 's plan code. DOI Full policy date (MM/DD/YY). This is the date from which renewal processing will be driven. DRN Duration from original policy date (i.e., where attained scale rates apply to policy conversions or replacements). A/F Automatic/Facultative indicator. Business ceded on a fac/ob basis can be indicated by an “"0” " in this field. Rating Indicate table if substandard. 100% for standard issues. Flat Flat extra amount per thousand. Yrs Duration of flat extra (number of years). OPT For Universal Life plans only, indicate death benefit Option 1 or 2. Under Option 1, the level death benefit option, the amount at risk decreases as the cash value accumulates. Option 2 produces an increasing death benefit, equivalent to the specified amount plus the accumulated cash value. The Reinsured Net Amount at Risk remains level under this option. COV L – Basic Coverage WP – Waiver of Premium ADB – Accidental Death Benefit DIRECT FACE Full face amount of the coverage at issue.