ACAP ACCOUNT Clause Samples
ACAP ACCOUNT. ACAP commissions will be credited to the Agent’s ACAP Account (the “ACAP Account”). As premiums are earned on ACAP policies, the ACAP Account will be credited with commissions attributable to such policies. Chargebacks will be made if the policy is rescinded, lapses, is cancelled or surrendered or otherwise is not in force, including terminating due to the death of the insured. Any unearned portion of the ACAP will be deducted from any future commission or, upon demand from Illinois Mutual, repaid immediately or as agreed to by Illinois Mutual.