REDUCTION OR TERMINATION. If life insurance on a reinsured policy is reduced, then the reinsurance will be reduced proportionately so that each party's quota share portion remains the same. If life insurance on a reinsured policy is terminated, then the reinsurance will cease on the date of such termination. If a decrease in Specified Amount occurs on a date other than the policy anniversary, a pro-rata reinsurance premium will be refunded to CEDING COMPANY.
Appears in 9 contracts
Samples: Automatic and Facultative Reinsurance Agreement (Ids Life Variable Life Separate Account), Automatic and Facultative Reinsurance Agreement (Ids Life Variable Life Separate Account), Automatic and Facultative Reinsurance Agreement (Ids Life Variable Life Separate Account)
REDUCTION OR TERMINATION. If life insurance on a reinsured policy is reduced, then the reinsurance will be reduced proportionately so that by the amount of the reduction on the date of such change. If more than one reinsurer participates in the reinsurance, the reinsurance with each party's quota share portion remains the samereinsurer will be reduced proportionately. If life insurance on a reinsured policy is terminated, then the reinsurance will cease on the date of such termination. If a decrease in Specified Amount occurs on a date other than the policy anniversary, a pro-rata reinsurance premium will be refunded to CEDING COMPANY.
Appears in 7 contracts
Samples: Automatic Reinsurance Agreement (Union Security Insurance Co Variable Account C), Automatic and Facultative Reinsurance Agreement (Life Insurance Separate Account of Usaa Life Insurance Co), Reinsurance Agreement (Ge Life & Annuity Assurance Co Ii)
REDUCTION OR TERMINATION. If life insurance on a reinsured policy is reduced, then the reinsurance will be reduced proportionately so that each party's quota share the portion reinsured, as outlined in Schedule A, remains the same. If life insurance on a reinsured policy is terminated, then the reinsurance will cease on the date of such termination. If Reductions and terminations are permitted only when the underlying policyholder directs such a decrease reduction or termination of the issuing company policy that is in Specified Amount occurs on a date other than force at the policy anniversary, a pro-rata reinsurance premium will be refunded to CEDING COMPANYtime that the reductions and terminations take place.
Appears in 5 contracts
Samples: Automatic and Facultative Yearly Renewable Term Reinsurance Agreement (National Variable Life Insurance Account), Reinsurance Agreement (Kansas City Life Insurance Co), Coinsurance Agreement (Cuna Mutual Variable Life Insurance Account)
REDUCTION OR TERMINATION. If life insurance on a reinsured policy is reduced, then the reinsurance will be reduced proportionately so that by the amount of the reduction on the date of such change. If more than one reinsurer participates in the reinsurance, the reinsurance with each party's quota share portion remains the samereinsurer will be reduced proportionately. If life insurance on a reinsured policy is terminated, then the reinsurance will cease on the date of such termination. If a decrease in Specified Amount occurs on a date other than the policy anniversary, a pro-rata reinsurance premium will be refunded to CEDING COMPANY.
Appears in 2 contracts
Samples: Automatic and Facultative Reinsurance Agreement (Union Security Insurance Co Variable Account C), Automatic and Facultative Yearly Renewable Term Reinsurance Agreement (Llac Variable Account)
REDUCTION OR TERMINATION. If life insurance on a reinsured policy Reinsured Policy is reduced, then the reinsurance will be reduced proportionately so that by the amount of the reduction on the date of such change. If more than one reinsurer participates in the reinsurance, the reinsurance with each party's quota share portion remains the samereinsurer will be reduced proportionately. If life insurance on a reinsured policy Reinsured Policy is terminated, then the reinsurance will cease on the date of such termination. If a decrease in Specified Amount occurs on a date other than the policy anniversary, a pro-rata reinsurance premium will be refunded to CEDING COMPANY.
Appears in 1 contract
Samples: Reinsurance Agreement (Bma Variable Life Account A)
REDUCTION OR TERMINATION. If life insurance on a reinsured policy is reduced, then the reinsurance will be reduced proportionately so that by the amount of the reduction on the date of such change. If more than one reinsurer participates in the reinsurance, the reinsurance with each party's quota share portion remains the samereinsurer will be reduced proportionately. If life insurance reinsurance on a reinsured policy is terminated, then the reinsurance will cease on the date of such termination. If a decrease in Specified Amount occurs on a date other than the policy anniversary, a pro-rata reinsurance premium will be refunded to CEDING COMPANY.
Appears in 1 contract
Samples: Automatic Reinsurance Agreement (Union Security Insurance Co Variable Account C)
REDUCTION OR TERMINATION. If life insurance on a reinsured policy is reduced, then the reinsurance will be reduced proportionately so that each party's quota share portion remains the same. If life insurance on a reinsured policy is terminated, then the reinsurance will cease on the date of such termination. If a decrease in Specified Amount occurs on a date other than the policy anniversary, a pro-rata rata. reinsurance premium will be refunded to CEDING COMPANY.
Appears in 1 contract
Samples: Automatic and Facultative Reinsurance Agreement (Ids Life of New York Account 8)
REDUCTION OR TERMINATION. If life insurance on a reinsured policy is reduced, then the reinsurance will be reduced proportionately so that by the amount of the reduction on the date of such change multiplied by the amount reinsured prior to reduction, divided by the policy net amount at risk prior to reduction. If more than one reinsured participates in the reinsurance, the reinsurance with each party's quota share portion remains the samereinsurer will be reduced proportionately. If life insurance reinsurance on a reinsured policy is terminated, then the reinsurance will cease on the date fate of such termination. If a decrease in Specified Amount occurs on a date other than the policy anniversary, a pro-rata reinsurance premium will be refunded to CEDING COMPANY.
Appears in 1 contract
Samples: Reinsurance Agreement (National Variable Life Insurance Account)
REDUCTION OR TERMINATION. If life insurance on a reinsured policy is reducedreduced or terminated, then the reinsurance will be reduced proportionately so that each party's quota share portion remains the same. If life insurance on a reinsured policy is terminated, then the reinsurance will cease on the same date of such termination. If a decrease in Specified Amount occurs on a date other than the policy anniversary, a pro-rata reinsurance premium will be refunded to CEDING COMPANYthis change.
Appears in 1 contract
Samples: Renewable Term Reinsurance Agreement (National Variable Life Insurance Account)
REDUCTION OR TERMINATION. If life insurance on a reinsured policy is reduced, then the reinsurance will be reduced proportionately so that prorata on the date of such change. If more than one reinsurer participates in the reinsurance, the reinsurance with each party's quota share portion remains the samereinsurer will be reduced proportionately. If life insurance on a reinsured policy is terminated, then the reinsurance will cease on the date of such termination. If a decrease in Specified Amount occurs on a date other than the policy anniversary, a pro-rata reinsurance premium will be refunded to CEDING COMPANY.
Appears in 1 contract
