Rescissions. When an in-force Covered Policy is rescinded by the Company, the cession in question shall be voided from inception and the Reinsurer shall return the premiums it has received from the Company in respect of such policy. Should the Company be subsequently required to reinstate a Covered Policy that it rescinded, it is understood that the Reinsurer shall participate in the reinsurance of the reinstated Covered Policy under the terms and conditions described in this Agreement, and provided that there is no non-contractual increase to the Reinsurer’s share.
Appears in 4 contracts
Samples: Yearly Renewable Term Reinsurance Agreement (John Hancock Life Insurance Co (Usa) Separate Account A), Yearly Renewable Term Reinsurance Agreement (John Hancock Life Insurance Co (Usa) Separate Account A), Yearly Renewable Term Reinsurance Agreement (John Hancock Life Insurance Co of New York Separate Account B)
