Termination Charge. If Continental exercises its rights to terminate all new and existing inforce reinsurance on unpaid policies as stipulated in Article II-3 an appropriate charge will be determined by, and paid to, Continental. Such termination charge will be equal to one prior year's premium on the unpaid policies measured from the date of termination.
Appears in 4 contracts
Samples: Reinsurance Agreement (Talcott Resolution Life & Annuity Insurance Co Separate Account One), Reinsurance Agreement (Talcott Resolution Life Insurance Co Separate Account Two), Reinsurance Agreement (Hartford Life Insurance Co Separate Account Ten)
Termination Charge. If Continental exercises its rights to terminate all new and existing inforce reinsurance on unpaid policies as stipulated in Article II-3 an appropriate charge will be determined by, and paid to, Continental. Such termination charge will be equal to one prior year's ’s premium on the unpaid policies measured from the date of termination.
Appears in 2 contracts
Samples: Guaranteed Minimum Death Benefit Reinsurance Agreement (Variable Account D of Union Security Insurance Co), Guaranteed Minimum Death Benefit Reinsurance Agreement (Variable Account D of Union Security Insurance Co)
Termination Charge. If Continental exercises its rights to terminate all new and existing inforce reinsurance on unpaid policies as stipulated in Article II-3 an appropriate charge will be determined by, and paid to, Continental. Such termination charge will be equal to one prior year's premium on the unpaid policies measured from the date of termination.
Appears in 1 contract
Samples: Reinsurance Agreement (Ge Life & Annuity Assurance Co Iv)
Termination Charge. If Continental exercises its rights to terminate all new and existing inforce reinsurance on unpaid policies as stipulated in Article II-3 11-3 an appropriate charge will be determined by, and paid to, Continental. Such termination charge will be equal to one prior year's premium on the unpaid policies measured from the date of termination.
Appears in 1 contract
Samples: Reinsurance Agreement (American National Variable Annuity Separate Account)
Termination Charge. If Continental exercises its rights to terminate all new and existing inforce reinsurance on unpaid policies as stipulated in Article II-3 III-3, an appropriate charge will be determined by, and paid to, Continental. Such termination charge will be equal to one prior year's premium on the costs involved (including legal fees) necessary to recover the unpaid policies premiums. The unpaid premiums will be measured from the due date to the date of termination and the costs to recover the unpaid premiums will be measured from the date of termination.
Appears in 1 contract
Samples: Novation Agreement (Metlife of Ct Separate Account Eleven for Variable Annuities)
