Life Reinsurance definition

Life Reinsurance. Century Life's Cost of Insurance (COI) rates are shown on pages 2 through 5 of this section. The total life reinsurance premium on standard cessions and on those substandard cessions with a percentage rating consists of the correct percentage from the following table of the appropriate rate per $1,000 applied to the amount at risk. Substandard premiums are direct multiples of the standard life premium. On substandard cessions involving flat extra premiums payable for more than five years, the reinsurance flat extra premium is 20% of the reinsured portion of the gross flat extra premium charged on the original policy in the first year and 75% in renewal years. When the flat extra premium is payable for five years or less, the reinsurance flat extra premium is 75% in all years. Reinsurance premiums on substandard risks will revert to the standard risk basis on the policy anniversary on which the insured attains age 65 or on the 20th policy anniversary, whichever is later. YRT Rates Expressed as a Percentage of UniVers-ALL II Current COI Rates ---------------------------- Type of Business Duration Non-Smoker Smoker ---------------- -------- ---------- ------ New Issues 1 -0- -0- 2+ 71% 74% Exchanges All 81% 83%
Sample 1
Life Reinsurance. Premium rates are shown on pages 2 to 5 of this section. The total life reinsurance premium on standard cessions and on those substandard cessions with a percentage rating consists of the appropriate rate per $1,000 applied to the amount at risk. Substandard extra premiums are direct multiples of the standard life premium. On substandard cessions involving flat extra premiums payable for more than five years, the reinsurance flat extra premium is 20% of the reinsured portion of the gross flat extra premium charged on the original policy in the first year and 75% in renewal years. When the flat extra premium is payable for five years or less, the reinsurance flat extra premium is 75% in all years. Reinsurance premiums on substandard risks will revert to the standard risk basis on the policy anniversary on which the insured attains age 65 or on the 20th policy anniversary, whichever is later. For joint life cessions with proceeds payable at the first death where the amount of reinsurance is the same for all lives covered, the total life reinsurance premium is 95% of the sum of the attained age single life rates applied to the amount at risk. In all other situations the reinsurance premiums are calculated as for single life cessions for each life covered.
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Life Reinsurance. State Mutual's Cost of Insurance (COI) rates are shown on pages 2, 3 and 4 of this section. The total life reinsurance premium on standard cessions and on those substandard cessions with a percentage rating consists of the correct percentage from the following table of the appropriate rate per $1,000 applied to the amount at risk. Substandard premiums are direct multiples of the standard premium. On substandard cessions involving flat extra premiums payable for more than five years, the reinsurance flat extra premium is 20% of the reinsured portion of the gross flat extra premium charged on the original policy in the first year and 75% in renewal years. When the flat extra premium is payable for five years or less, the reinsurance flat extra premiums 75% in all years. Reinsurance premiums on substandard risks will revert to the standard risk basis on the policy anniversary on which the insured attains age 65 or on the 20th policy anniversary, whichever is later. YRT RATES EXPRESSED AS A PERCENTAGE OF STATE MUTUAL'S CURRENT COI RATES ---------------------------- TYPE OF BUSINESS DURATION AUTOMATIC FACULTATIVE ---------------- -------- --------- ----------- New Issues 1 -0- -0- 2-10 63% 76% 11+ 80% 80% EXCHANGES, TERM RENEWALS AND TERM CONVERSIONS Exchanges, terms renewals and term conversions are considered as continuations of the original insurance for the purpose of determining the duration and appropriate premiums thereon. SCHEDULE E - SECTION III Omitted 16 Pages AMENDMENT NO. 8 to the Yearly Renewable Term Reinsurance Agreement Effective August 1, 1983 between STATE MUTUAL LIFE ASSURANCE COMPANY OF AMERICA and CONNECTICUT GENERAL LIFE INSURANCE COMPANY It is agreed by the two companies that the following section entitled ARBITRATION will be substituted for the corresponding section of Article 16 of this agreement:
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Examples of Life Reinsurance in a sentence

  • Xxxxxxxx General Counsel Xxxxxxx Xxxxx Insurance Group 0000 Xxxxxxx Xxxxx Road, 2nd Floor Pennington, NJ 08534 Phone: (000) 000-0000 Fax: (000) 000-0000 Chief Financial Officer ACE Tempest Life Reinsurance Ltd.

  • There will be three arbitrators selected who will be officers of Life Insurance Companies or Life Reinsurance Companies excluding officers of the parties to this Agreement, their affiliates or subsidiaries or past employees of any of these entities.

  • All three arbitrators must be present or former officers of Life Insurance Companies or Life Reinsurance Companies, excluding however, officers of the two parties to this Agreement, their affiliates or subsidiaries or past employees of any of these entities.

  • Life Reinsurance Premiums Paid on a Coinsurance Basis The CEDING COMPANY shall pay the current premium as shown in Exhibit II based on the amount of life insurance reinsured, less the allowance stated in Exhibit III.

  • Malaysia) Reinsurance Group of America, Incorporated owns 30% of Malaysia Life Reinsurance Group Berhad.

  • These arbitrators must be officers of Life Insurance Companies or Life Reinsurance Companies excluding officers of the parties to this Agreement, their affiliates or subsidiaries or past employees of any of these entities.

  • Life Reinsurance Premiums are payable annually in advance unless specified differently on Exhibit II.

  • The following table shows the aggregate amount included in reinsurance receivables that is comprised of the three largest receivable balances from unrelated reinsurers: At December 31, 2013 and December 31, 2012, respectively, the three unrelated reinsurers from whom the Company has the largest receivable balances were: London Life Reinsurance Company (A.

  • AXA Corporate Solutions Life Reinsurance Company 00 Xxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000-0000 Telephone: (000) 000-0000 Fax: (000) 000-0000 March 1, 2004 This letter is being sent in duplicate original for acknowledgement of receipt and countersignature.

  • Xxxxxxxx General Counsel Xxxxxxx Xxxxx Insurance Group 0000 Xxxxxxx Xxxxx Road, 2nd Floor Xxxxxxxxxx, NJ 08534 Phone: (000) 000-0000 Fax: (000) 000-0000 Chief Financial Officer ACE Tempest Life Reinsurance Ltd.


More Definitions of Life Reinsurance

Life Reinsurance. Premium rates are shown on pages 2, 3 and 4 of this schedule. The total life reinsurance premium on standard cessions and on those substandard cessions with a percentage rating consists of seventy-five percent (75%) of the appropriate rate per $1,000 applied to the amount at risk up to attained age 54 and eighty percent (80%) for attained ages 55 and over. Substandard premiums are direct multiples of the standard life premium. On substandard cessions involving flat extra premiums payable for more than five years, the reinsurance flat extra premium is 20% of the reinsured portion of the gross flat extra premium charged on the original policy in the first year and 75% in renewal years. When the flat extra premium is payable for five years or less, the reinsurance flat extra premium is 75% in all years. Reinsurance premiums on substandard risks will revert to the standard risk basis on the policy anniversary on which the insured attains age 65 or on the 20th policy anniversary, whichever is later.
Sample 1
Life Reinsurance. Century Life's Cost of Insurance (COI) rates are shown on pages 6 and 7 of this section. The total life reinsurance premium on standard cessions and on those substandard cessions with a percentage rating consists of the correct percentage from the following table of the appropriate rate per $1,000 applied to the amount at risk. Substandard premiums are direct multiples of the standard life premium. YRT Rates Expressed as a Percentage of UniVers-ALL II, Current COI Rates ------------------------- Type of Business Duration Non-Smoker and Smoker ---------------- -------- --------------------- New Issues 1 25% 2+ 95% Exchanges All 95%
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Related to Life Reinsurance

  • Reinsurance means the activity consisting in accepting risks ceded by an insurance undertaking or by another reinsurance undertaking or, in the case of the association of underwriters known as Lloyd's, the activity consisting in accepting risks, ceded by any member of Lloyd's, by an insurance or reinsurance undertaking other than the association of underwriters known as Lloyd's;

  • 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.

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

  • group insurance means insurance, other than creditor’s group insurance and family insurance, whereby the lives of a number of persons are insured severally under a single contract between an insurer and an employer or other person; (“assurance collective”)

  • FHA Insurance The contractual obligation of FHA respecting the insurance of an FHA Loan pursuant to the National Housing Act, as amended.

  • 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.

  • Insurance Contract means a contract (other than an Annuity Contract) under which the issuer agrees to pay an amount upon the occurrence of a specified contingency involving mortality, morbidity, accident, liability, or property risk.

  • Unemployment Insurance means the contribution required of Vendor, as an employer, in respect of, and measured by, the wages of its employees (or subcontractors) as required by any applicable federal, state or local unemployment insurance law or regulation.

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

  • Insurance Contracts means the insurance or annuity policies and contracts, together with all binders, slips, certificates, endorsements and riders thereto, issued or entered into by any Insurance Company prior to the Closing.

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

  • Reinsurance Agreement means any agreement, contract, treaty or other arrangement whereby one or more insurers, as reinsurers, assume liabilities under insurance policies or agreements issued by another insurance or reinsurance company or companies.

  • 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.

  • Reinsurance Agreements means any agreement, contract, treaty, certificate or other arrangement by which any Insurance Subsidiary agrees to transfer or cede to another insurer all or part of the liability assumed or assets held by it under one or more insurance, annuity, reinsurance or retrocession policies, agreements, contracts, treaties, certificates or similar arrangements. Reinsurance Agreements shall include, but not be limited to, any agreement, contract, treaty, certificate or other arrangement that is treated as such by the applicable Department.

  • Insurance Affordability Program means a program that is one of the following:

  • Group health insurance coverage means in connection with a group health plan, health insurance

  • Health insurance means protection which provides payment of benefits for covered sickness or injury.

  • Travel Insurance means coverage for personal risks incidental to planned travel, including one or more of the following:

  • Period of Insurance means the period commencing from the retroactive date and terminating on the expiry date as shown in the Policy Schedule.