VSA Payable Liability. The Company will establish one or more accounts payable (the “VSA Payable Liability”) on its statutory books equal to the difference between the aggregate VSA Accumulated Value and the aggregate Statutory Reserves related to a VSA. The quarterly change (or monthly change as applicable) in a VSA Payable Liability shall be calculated in accordance with the provisions of Schedule 3.4. The Reinsurer will set up a corresponding account receivable on its statutory books equal to the VSA Payable Liabilities.
Appears in 12 contracts
Samples: Coinsurance and Modified Coinsurance Agreement (MEMBERS Life Insurance Co), Coinsurance and Modified Coinsurance Agreement (MEMBERS Life Insurance Co), Coinsurance and Modified Coinsurance Agreement (MEMBERS Life Insurance Co)
VSA Payable Liability. The Company will establish one or more accounts payable (the “"VSA Payable Liability”") on its statutory books equal to the difference between the aggregate VSA Accumulated Value and the aggregate Statutory Reserves related to a VSA. The quarterly change (or monthly change as applicable) in a VSA Payable Liability shall be calculated in accordance with the provisions of Schedule 3.4. The Reinsurer will set up a corresponding account receivable on its statutory books equal to the VSA Payable Liabilities.
Appears in 3 contracts
Samples: Coinsurance and Modified Coinsurance Agreement (MEMBERS Life Insurance Co), Coinsurance and Modified Coinsurance Agreement (MEMBERS Life Insurance Co), Coinsurance and Modified Coinsurance Agreement (MEMBERS Life Insurance Co)
VSA Payable Liability. The Company will establish one or more accounts an account payable (the “VSA Payable Liability”) on its statutory books equal to the difference between the aggregate VSA Accumulated Value and the aggregate Statutory Reserves related to a the VSA. The quarterly change (or monthly change as applicable) in a the VSA Payable Liability shall be calculated in accordance with the provisions of Schedule 3.4. The Reinsurer will set up a corresponding account receivable on its statutory books equal to the VSA Payable LiabilitiesLiability.
Appears in 1 contract
