Standard Risks. For policies issued prior to 2009, reinsurance premiums for standard risks are calculated based on the issue age and attained duration for that policy by applying the appropriate percentage as specified in Schedule B to the age nearest mortality tables specified in Schedule C, exclusive of policy fees. For policies issued in 2Q09 and afterwards, reinsurance premiums for standard risks are calculated based on the issue age and attained duration for that policy by applying the appropriate percentage as specified in Schedule B to the age last mortality tables specified in Schedule D, exclusive of policy fees. For the period from the effective date of this Agreement up to the next policy anniversary date, THE COMPANY shall pay a pro-rated reinsurance premium to OPTIMUM RE. Following the initial reinsurance premium, all reinsurance premiums shall be as described above and in Article 7.
Appears in 2 contracts
Sources: Reinsurance Agreement (Federal Life Group, Inc.), Reinsurance Agreement (Federal Life Group, Inc.)