Common use of AMOUNT AND PAYMENT OF DEATH CLAIMS Clause in Contracts

AMOUNT AND PAYMENT OF DEATH CLAIMS. After the Reinsurer receives proper death (or disability) claim notice, proofs of the death (or disability) claim, and proof of payment of the death claim by the Ceding Company, the Reinsurer will promptly pay the reinsurance death benefits due and owing to the Ceding Company in one lump sum (or the Reinsurer will pay the Ceding Company its proportionate share of the waived premium on an annual basis). The Ceding Company’s contractual liability for death (and disability) claims is binding on the Reinsurer. The maximum death benefit payable to the Ceding Company under each reinsured policy is the net amount at risk specifically reinsured hereunder. As detailed elsewhere in Article 13 and Article 14, the Reinsurer will indemnify the Ceding Company for valid death claims under this Agreement, however, the Reinsurer will not be nor become liable for any amounts or reserves to be held by the Ceding Company on policies reinsured under this Agreement. The total reinsurance in all companies on a policy shall not exceed the Ceding Company’s total contractual liability on the policy, less its amount retained on the policy. The excess, if any, of the total reinsurance in all companies plus the Ceding Company’s retained amount on the policy over its contractual liability under the reinsured policy will first be applied to reduce all reinsurance on the policy. This reduction in reinsurance will be shared among all the reinsurers in proportion to their respective amounts of reinsurance prior to the reduction.

AMOUNT AND PAYMENT OF DEATH CLAIMS. After the Reinsurer receives proper death (or disability) claim notice, proofs of the death (or disability) claim, and proof of payment of the death claim by the Ceding Company, the Reinsurer will promptly pay the reinsurance death benefits due and owing to the Ceding Company in one lump sum (or the Reinsurer will pay the Ceding Company its proportionate share of the waived premium on an annual basis)sum. The Ceding Company’s 's contractual liability for death (and disability) claims is binding on the Reinsurer. The maximum Maximum death benefit payable to the Ceding Company under each reinsured policy is the net amount Reinsurer's Net Amount at risk specifically reinsured hereunder. As detailed elsewhere Risk as set forth in Article 13 and Article 14, the Reinsurer will indemnify the Ceding Company for valid death claims under this Agreement, however, the Section 8 of Schedule A. The Reinsurer will not be nor become liable for any amounts or reserves to be held by the Ceding Company on policies reinsured under this Agreement. The total reinsurance in all companies on a policy shall will not exceed the Ceding Company’s 's total contractual liability on the policy, less its amount retained on the policy. The excess, if any, any of the total reinsurance in all companies plus the Ceding Company’s 's retained amount on the policy over its contractual liability under the reinsured policy will first be applied to reduce all reinsurance on the policy. This reduction in reinsurance will be shared among all the reinsurers in proportion to their respective amounts of reinsurance prior to the reduction.

AMOUNT AND PAYMENT OF DEATH CLAIMS. After the Reinsurer receives proper death (or disability) claim notice, proofs of the death (or disability) claim, and proof of payment of the death claim by the Ceding Company, the Reinsurer will promptly pay the reinsurance death benefits due and owing to the Ceding Company in one lump sum (or the Reinsurer will pay the Ceding Company its proportionate share of the waived premium on an annual basis)sum. The Ceding Company’s 's contractual liability for death (and disability) claims is binding on the Reinsurer. The maximum death benefit payable before interest to the Ceding Company under each reinsured policy is the net amount at risk specifically reinsured hereunder. As detailed elsewhere in Article 13 and Article 14, the Reinsurer will indemnify the Ceding Company for valid death claims under this Agreement, however, ; the Reinsurer will not be nor become liable for any amounts or reserves to be held by the Ceding Company on policies reinsured under this Agreement. The total reinsurance in all companies on a policy shall not exceed the Ceding Company’s 's total contractual liability on the policy, less its the net amount at risk retained by the Ceding Company on the policy. The excess, if any, of the total reinsurance in all companies plus the Ceding Company’s retained amount 's retention used on the policy over its contractual liability under the reinsured policy will first be applied to reduce all reinsurance on the policy. This reduction in reinsurance will be shared among all the reinsurers in proportion to their respective amounts of reinsurance prior to the reduction. The Reinsurer will pay its proportionate share of interest paid by the Ceding Company on a claim as required by state statute or policy provision.

AMOUNT AND PAYMENT OF DEATH CLAIMS. After the Reinsurer receives proper death (or disability) claim notice, proofs of the death (or disability) claim, and proof of payment of the death claim by the Ceding Company, the Reinsurer will promptly pay the reinsurance death benefits due and owing to the Ceding Company in one lump sum (or the Reinsurer will pay the Ceding Company its proportionate share of the waived premium on an annual basis). The Ceding Company’s 's contractual liability for death (and disability) claims is binding on the Reinsurer. The maximum death benefit payable to the Ceding Company under each reinsured policy is the net amount at risk specifically reinsured hereunder. As detailed elsewhere in Article 13 and Article 14, the Reinsurer will indemnify the Ceding Company for valid death claims under this Agreement, however, ; the Reinsurer will not be nor become liable for any amounts or reserves to be held by the Ceding Company on policies reinsured under this Agreement. The total reinsurance in all companies on a policy shall not exceed the Ceding Company’s 's total contractual liability on the policy, less its amount retained on the policy. The excess, if any, of the total reinsurance in all companies plus the Ceding Company’s 's retained amount on the policy over its contractual liability under the reinsured policy will first be applied to reduce all reinsurance on the policy. This reduction in reinsurance will be shared among all the reinsurers in proportion to their respective amounts of reinsurance prior to the reduction. In the event payment is made under any policy prior to the death of the insured due to the exercise of an accelerated benefit option, the amount of reinsurance will be reduced in proportion to the reduction in the reinsured policy's net amount at risk.

AMOUNT AND PAYMENT OF DEATH CLAIMS. After the Reinsurer receives proper death (or disability) claim notice, proofs of the death (or disability) claim, and proof of payment of the death claim by the Ceding Company, the Reinsurer will promptly pay the reinsurance death benefits due and owing to the Ceding Company in one lump sum (or the Reinsurer will pay the Ceding Company its proportionate share of the waived premium on an annual basis). The Ceding Company’s contractual liability for death (and disability) claims is binding on the Reinsurer. The maximum death benefit payable to the Ceding Company under each reinsured policy is the net amount at risk specifically reinsured hereunder. As detailed elsewhere in Article 13 and Article 14, the Reinsurer will indemnify the Ceding Company for valid death claims under this Agreement, however, ; the Reinsurer will not be nor become liable for any amounts or reserves to be held by the Ceding Company on policies reinsured under this Agreement. The total reinsurance in all companies on a policy shall not exceed the Ceding Company’s total contractual liability on the policy, less its amount retained on the policy. The excess, if any, of the total reinsurance in all companies plus the Ceding Company’s retained amount on the policy over its contractual liability under the reinsured policy will first be applied to reduce all reinsurance on the policy. This reduction in reinsurance will be shared among all the reinsurers in proportion to their respective amounts of reinsurance prior to the reduction. In the event payment is made under any policy prior to the death of the insured due to the exercise of an accelerated benefit option, the amount of reinsurance will be reduced in proportion to the reduction in the reinsured policy’s net amount at risk.