The liability of the Reinsurer on any reinsurance under this Agreement begins upon the effective date of this Agreement as set forth in Article XV, Execution, and ends after all underlying contracts associated with the reinsured Incomeflex Contracts have terminated or the business reinsured is otherwise recaptured or terminated. The liability of the Reinsurer to the Reinsured under this Agreement will be the remaining Incomeflex benefit obligation to any covered Contract holder after the value of the investments supporting the individual’s IncomeFlex benefit has been reduced to zero.
The liability of the Reinsurer on any reinsurance under this Agreement begins upon the effective date of this Agreement as set forth in Article XX and ends after all policies reinsured have been terminated or recaptured. The liability of the Reinsurer to the Reinsured under this Agreement will coexist with the liability of the Reinsured under the policies reinsured.
The liability of the Reinsurer on any reinsurance under this Agreement begins upon the effective date of this Agreement as set forth in Article XV, Execution, and ends after all underlying contracts associated with the reinsured HD7 riders have terminated or the business reinsured is otherwise recaptured or terminated. The liability of the Reinsurer to the Reinsured under this Agreement will be the remaining HD7 obligation to any covered contract holder after the associated contract's account value has been reduced to zero, subject to the limits defined in Schedule A(2).
The liability of the Reinsurer on any reinsurance under this Agreement begins upon the effective date of this Agreement as set forth in Article XV, Execution, and ends after all underlying contracts associated with the reinsured HDLT5 riders have terminated or the business reinsured is otherwise recaptured or terminated. The liability of the Reinsurer to the Reinsured under this Agreement will be the remaining HDLT5 obligation to any covered contract holder after the associated contract's account value has been reduced to zero.
The liability of the Reinsurer on any reinsurance under this Agreement begins upon the effective date of this Agreement as set forth in Article XV, Execution, and ends after all underlying contracts associated with the reinsured SLT5 riders have terminated or the business reinsured is otherwise recaptured or terminated. The liability of the Reinsurer to the Reinsured under this Agreement will be the remaining SLT5 obligation to any covered contract holder after the associated contract's account value has been reduced to zero.
The liability of the Reinsurer on any reinsurance under this Agreement begins upon the effective date of this Agreement as set forth in Article XV, Execution, and ends after all underlying contracts associated with the reinsured LT5WB riders have terminated or the business reinsured is otherwise recaptured or terminated. The liability of the Reinsurer to the Reinsured under this Agreement will be the remaining LT5WB obligation to any covered contract holder after the associated contract's account value has been reduced to zero.
The liability of the Reinsurer shall commence obligatorily and simultaneously with that of the Company as soon as the Company becomes liable, and the premium on account of such liability shall be credited, as applicable, to the Reinsurer from the original date of the Company's liability.
The liability of the Reinsurer on any reinsurance under this Agreement begins upon the effective date of this Agreement as set forth in Article XV, Execution, and ends after all underlying insurance contracts associated with the reinsured GRO Plus benefit riders have terminated or the business reinsured is otherwise recaptured or terminated. The liability of the Reinsurer to the Reinsured under this Agreement will be the GRO Plus benefit obligation to any covered contract holder on the maturity date of the guarantee to the extent the guarantee exceeds the contract's account value, subject to the limits defined in Schedule A(2).
The liability of the Reinsurer on any reinsurance under this Agreement begins upon the effective date of this Agreement as set forth in Article XV, Execution, and ends after all underlying insurance contracts reinsured associated with the GMWB rider have been terminated. The liability of the Reinsurer to the Reinsured under this Agreement will be the remaining GMWB obligation to any covered contractholder after the basic contract account value has been reduced to zero.
The liability of the Reinsurer hereunder shall exclude all liability of the Company arising from any consequential damages or punitive damages or otherwise resulting or arising from the negligence or bad faith of the Company, its employees, or agents in any negotiation for, insurance or servicing of, or the processing of any claim under any Bond.
