RESERVES FOR REINSURANCE. If THE COMPANY pays premiums on an Annual Mode, the statutory reserve is the one-year term reserve on the portion of each policy reinsured by THE REINSURER. If THE COMPANY pays premiums on a Monthly Mode, the statutory reserve is the one-month term reserve on the portion of each policy reinsured by THE REINSURER. The reserve credit taken by THE COMPANY will meet the minimum requirements specified in the valuation law of the State of New Jersey for the applicable year of issue. The parties intend that THE COMPANY will receive its full statutory reserve credit in the State of New Jersey for the portion of the risks ceded under this Agreement.
Appears in 8 contracts
Samples: Automatic and Facultative (Pruco Life Variable Universal Account), Automatic and Facultative (Pruco Life Variable Universal Account), Automatic and Facultative (Pruco Life Variable Universal Account)
