Term Riders Sample Clauses
A Term Riders clause allows policyholders to add supplementary term life insurance coverage to their primary insurance policy. This clause typically enables the insured to increase their total coverage for a specified period, often at an additional premium, and may be used to provide extra protection during high-need years, such as while raising children or paying off a mortgage. Its core practical function is to offer flexible, temporary increases in coverage, addressing changing financial responsibilities without requiring a separate policy.
Term Riders. If applicable, Term Riders may be reinsured by OPTIMUM RE on the same terms and conditions as the base plan, subject to Article
7.1. For riders where OPTIMUM RE reinsures the base policy, the cession fee, if any, will be waived; otherwise the appropriate fee will apply. Substandard Spouse or Child Term Riders may not be reinsured under this Agreement.
Term Riders. Unless otherwise specified in the Exhibit, the amount at risk each year for Term Riders shall be level and equal to the amount of benefit minus the amount retained by Lutheran Brotherhood.
Term Riders. If applicable, Term Riders may be reinsured by OPTIMUM RE on the same terms and conditions as the base plan, subject to Article 7.1., and the reinsurance premium rates shall be the same as the base plan, using the appropriate gender, issue age, duration and risk classification for the rider.