Life Insurance Subsidiary definition

Life Insurance Subsidiary means any of the Company’s subsidiaries that is organized under the laws of any state in the United States and is licensed as a life insurance company in any state in the United States but does not include any subsidiary of a Life Insurance Subsidiary.
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Life Insurance Subsidiary means AmerUs Life, American Vanguard Life Insurance Company and any other Subsidiary of the Borrower that is licensed to do life insurance business, whether in existence on the Effective Date or acquired thereafter.
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Examples of Life Insurance Subsidiary in a sentence

  • Each insurance agent, at the time such agent wrote, sold or produced business for any Life Insurance Subsidiary since January 1, 1994, was duly licensed as an insurance agent (for the type of business written, sold or produced by such insurance agent) in the particular jurisdiction in which such agent wrote, sold or produced such business.

  • Subject to the foregoing and the requirements of Section 5.3.1(f), nothing in this Agreement shall be construed as limiting in any way the right of OM Life Insurance Subsidiary after the Closing Date to terminate the employment of any Business Employee or to modify, amend or terminate any employee benefit plan in accordance with the terms of each employee benefit plan.

  • As of the Effective Date, the reinsurance agreements described in SCHEDULE 4.20 are the only contracts regarding reinsurance, coinsurance, excess insurance, ceding of insurance, assumption of insurance or indemnification with respect to insurance ("Reinsurance") to which any Life Insurance Subsidiary is a party.

  • All insurance policy and annuity contract benefits payable by any Life Insurance Subsidiary and, to the knowledge of the Seller, by any other Person that is a party to or bound by any reinsurance, coinsurance or other similar agreement with any Life Insurance Subsidiary, have been paid in accordance with the terms of the insurance policies, annuity contracts and other contracts under which they arose, except for such benefits for which there is a reasonable basis to contest payment.

  • Except as set forth on Schedule 4.26, all advertising, promotional and sales materials and other marketing practices used by any Life Insurance Subsidiary or any agent of any Life Insurance Subsidiary have complied and are currently in compliance with Applicable Laws.

  • The Borrower will ensure that, with respect to all reinsurance ceded by a Life Insurance Subsidiary, such Life Insurance Subsidiary will (i) comply with all requirements of its Applicable Insurance Regulatory Authority and (ii) not engage in any material bulk reinsurance transaction without the prior written approval of the Required Banks.

  • Not permit, at any time, the Risk-Based Capital of any Material Life Insurance Subsidiary to fall below 150% of the Company Action Level or 300% of the Authorized Control Level.

  • In addition, except as disclosed to Buyer in a letter from Seller to Buyer dated August 26, 1999, each annuity contract issued by any Life Insurance Subsidiary qualified as an annuity contract under Section 72 of the Code.

  • Each life insurance policy issued by any Life Insurance Subsidiary qualified as a life insurance contract for federal income tax purposes when issued and any such policy which is a modified endowment contract under Section 7702A of the Code, (each, a "MEC") has been marketed as such at all relevant times or the policyholder otherwise has consented to such MEC status.

Related to Life Insurance Subsidiary

  • Insurance Subsidiary means any Subsidiary that is licensed by any Applicable Insurance Regulatory Authority to conduct, and conducts, an Insurance Business.

  • Captive Insurance Subsidiary means any Subsidiary of the Borrower that is subject to regulation as an insurance company (or any Subsidiary thereof).

  • Insurance Subsidiaries means, collectively, MGMM Insurance Company, a Nevada corporation and any Subsidiaries formed for the purpose of facilitating and providing insurance coverage and claims services for the Company and its Subsidiaries.

  • Material Insurance Subsidiary means a Material Subsidiary that is also an Insurance Subsidiary.

  • life insurance business means the business of providing or undertaking to provide policy benefits under life policies;

  • Project Finance Subsidiary means any Subsidiary of the Borrower as to which the creditors and other holders of Indebtedness of such Subsidiary have recourse solely against the assets of such Subsidiary and not against the Borrower or any other Subsidiary of the Borrower or any of their other assets (whether directly, through a Guarantee or otherwise) other than (i) pursuant to a Guarantee permitted hereunder and (ii) the stock of such Subsidiary (or similar equity interest).

  • Life insurance means insurance coverage on human lives including benefits of endowment and annuities, and may include benefits in the event of death or dismemberment by accident and benefits for disability income and unless otherwise specifically excluded, includes individually issued annuities.

  • Finance Subsidiary means, with respect to any Person, any Subsidiary of such Person which is primarily engaged in leasing or financing activities including (a) lease and purchase financing provided by such Subsidiary to dealers and consumers, (b) leasing or financing of installment receivables or otherwise providing banking, financial or insurance services to the Company and/or its affiliates or others or (c) financing the Company’s and/or its affiliates’ operations.

  • Life Insurance Policy has the meaning given in Section 6.10.

  • Insurance Companies means the companies with whom the Insurance Policies are held.

  • Insurance group means the persons that comprise an insurance holding company system.

  • Sponsored captive insurance company means a captive insurance company:

  • Long-term care insurance means group insurance that is authorized by the retirement system for retirants, retirement allowance beneficiaries, and health insurance dependents, as that term is defined in section 91, to cover the costs of services provided to retirants, retirement allowance beneficiaries, and health insurance dependents, from nursing homes, assisted living facilities, home health care providers, adult day care providers, and other similar service providers.

  • Health-care-insurance receivable means an interest in or claim under a policy of insurance which is a right to payment of a monetary obligation for health-care goods or services provided.

  • Project Subsidiary means any Subsidiary of the Company held for the purpose of holding, constructing or acquiring power generation facilities or related or ancillary assets or properties and any Subsidiary of the Company whose assets consist primarily of equity interests in one or more other Project Subsidiaries; provided that a Subsidiary will cease to be a Project Subsidiary if it Guarantees any Indebtedness of the Company other than obligations of the Company related to Project Debt of one or more Project Subsidiaries.

  • Regulated Subsidiary means any Subsidiary that is (a) a Broker-Dealer Subsidiary, (b) otherwise subject to regulation by any Governmental Authority and for which the incurrence of Indebtedness (including Guarantees) or the granting of Liens with respect to its assets would be prohibited or restricted or would result in a negative impact on any minimum capital or similar requirement imposed by such Governmental Authority and applicable to it or (c) subject to regulation by any Regulatory Supervising Organization.

  • Life Insured means the person named in the Schedule, on whose life the Policy is effected;

  • Material Domestic Subsidiary means any Domestic Subsidiary that is a Material Subsidiary.

  • insurance business means one or more aspects of the business of selling, issuing or underwriting insurance or reinsurance.

  • ORE Subsidiary means any Subsidiary of the Assuming Bank that engages solely in holding, servicing, managing or liquidating interests of a type described in clause (A) of the definition of “Other Real Estate,” which interests have arisen from the collection or settlement of a Shared-Loss Loan.

  • JV Subsidiary any Subsidiary of a Group Member which is not a Wholly Owned Subsidiary and as to which the business and management thereof is jointly controlled by the holders of the Capital Stock therein pursuant to customary joint venture arrangements.

  • Significant Domestic Subsidiary means any Domestic Subsidiary that is a Significant Subsidiary.

  • Material Foreign Subsidiary means any Foreign Subsidiary that is a Material Subsidiary.