Base Policy definition
Examples of Base Policy in a sentence
In the event of any inconsistency between the terms and conditions of the Base Policy and this RIDER, the provisions of this RIDER shall prevail with respect to the matters dealt with in this RIDER.
The Ceding Company's retention will be filled in the following order: (i) in force policies other than VUL III issued prior to the issuance of the Base Policy (the policy reinsured under this Agreement); (ii) the Base Policy; (iii) Base Insured Rider, if any; (iv) policies issued subsequent to the issuance of the Base Policy.
Increases in the Net Amount at Risk of the Base Policy caused by an Automatic Increasing Benefit Rider shall be reinsured as described in Article 5 without regard to the Automatic Binding Limits or the Jumbo Limits shown in Exhibit B, provided that the total of all such increases to the Specified Amount of a single policy does not exceed seven hundred fifty thousand dollars ($750,000).
The RIDER shall run concurrently with the Base Policy, unless terminated in accordance with Section 9 (nine) below.
The nomination of the Rider Policy is allowed only along with the Base Policy.