Payment of Benefits. The Reinsurer will pay its share of all payable claims, however, if the amount reinsured with the Reinsurer is more than the amount retained by the Ceding Company and the claim is contestable, all papers in connection with such claim, including all underwriting and investigation papers, must be submitted to the Reinsurer for its recommendation before admission of any liability on the part of the Ceding Company. If the amount of insurance changes because of a misstatement of rate classification, the Reinsurer’s share of reinsurance liability will change proportionately.
Appears in 9 contracts
Samples: Automatic and Facultative Yrt Reinsurance Agreement (Ameritas Variable Separate Account V), Reinsurance Agreement (Thrivent Variable Life Account I), Automatic and Facultative Yrt Reinsurance Agreement (Life Investors Variable Life Account A)
Payment of Benefits. The Reinsurer will pay its share of all payable claims, however, if the amount reinsured with the Reinsurer is more than the amount retained by the Ceding Company and the claim is contestable, all papers in connection with such claim, including all underwriting and investigation papers, must be submitted to the Reinsurer for its recommendation before admission of any liability on the part of the Ceding Company. If the amount of insurance changes because of a misstatement of rate classification, the Reinsurer’s 's share of reinsurance liability will change proportionately.
Appears in 4 contracts
Samples: Automatic and Facultative Coinsurance Reinsurance Agreement (Cuna Mutual Variable Life Insurance Account), Automatic and Facultative Yrt Reinsurance Agreement (National Variable Life Insurance Account), Automatic and Facultative Yrt Reinsurance Agreement (Carillon Life Account)
Payment of Benefits. The Reinsurer will pay its share of all payable claims, however, if the amount reinsured with the Reinsurer is more than the amount retained by the Ceding Company and the claim is contestable, all papers in connection with such claim, including all underwriting and investigation papers, must be submitted to the Reinsurer for its recommendation before admission of any liability on the part of the Ceding Company. If the amount of insurance changes because of a misstatement of rate classification, the Reinsurer’s 's share of reinsurance liability will change proportionately.
Appears in 1 contract
Samples: Premium Reinsurance Agreement (Vel Ii Account of Allmerica Financial Life Ins & Ann Co)
Payment of Benefits. The Reinsurer will pay its share of all payable claims, however, if the amount reinsured with the Reinsurer is more than the amount retained by the Ceding Company and the claim is contestable, all papers in connection with such claim, including all underwriting and investigation papers, must be submitted to the Reinsurer for its recommendation consultation before admission of any liability on the part of the Ceding Company. If the amount of insurance changes because of a misstatement of rate classification, the Reinsurer’s 's share of reinsurance liability will change proportionately.
Appears in 1 contract
Samples: Automatic and Facultative Yrt Reinsurance Agreement (Canada Life of America Variable Life Account 1)
