Common use of AMOUNT AND PAYMENT OF REINSURANCE BENEFITS Clause in Contracts

AMOUNT AND PAYMENT OF REINSURANCE BENEFITS. Except as otherwise set forth herein, the total reinsurance recoverable from all companies will not exceed the Ceding Company’s total contractual liability on the Policy, less the amount retained. The maximum reinsurance benefit payable by MARC to the Ceding Company under this Agreement is the risk amount specifically reinsured with MARC. MARC will also pay its proportionate share of Claim Expenses and its proportionate share of the amount of interest dictated by state statute (“Statutory Interest”) or an amount that is mutually agreed upon by the Ceding Company and MARC that the Ceding Company pays on the death benefit proceeds unless payment was unreasonably delayed by the Ceding Company. Unless otherwise set forth in this Agreement, the Ceding Company’s contractual liability for Policies reinsured under this Agreement is binding on MARC so long as all conditions and requirements under this Agreement are satisfied. A decision made by the Ceding Company as to whether or not to deny or pay a claim in whole or in part is the Ceding Company’s responsibility and rests solely within the Ceding Company’s authority. Within a reasonable time following MARC’s receipt of request for payment and any other required or requested documentation, MARC will adjudicate the claim for reinsurance benefits as appropriate. The reinsurance benefit for an approved waiver of premium claim will be MARC’s proportionate share of the annual gross premium waived by the Ceding Company on the Policy. MARC will pay waiver benefits annually regardless of the mode of premium payment specified in the Policy. For all approved waiver of premium claims for which the payment of direct premium is waived by the Ceding Company, depending on the Ceding Company’s method of administering such claims: (i) MARC will waive its proportionate share of the gross reinsurance premium such that payment of such premium will not be made to MARC and will be netted from the total amount of premium owed for all Policies reinsured under this Agreement or, (ii) in the event the Ceding Company pays premium to MARC on a Policy where a waiver claim has been approved, MARC will reimburse the Ceding Company in the amount of its proportionate share of gross premium on such Policy. If MARC reimburses the Ceding Company for waiver benefits as set forth in (ii) above, such reimbursement will be made on annual bases regardless of the mode of premium payment specified in the Policy.

AMOUNT AND PAYMENT OF REINSURANCE BENEFITS. Except As soon as otherwise set forth hereinthe Reinsurer receives proper claim notice and proof of the claim, the Reinsurer will promptly pay the reinsurance benefits due the Ceding Company. The Reinsurer will be liable to the Ceding Company for its share of the benefits reinsured under this Agreement. The total reinsurance recoverable from all companies will not exceed the Ceding Company’s 's total contractual liability on the Policypolicy, less the amount retained. The maximum reinsurance death benefit payable by MARC to the Ceding Company under this Agreement is the risk amount specifically reinsured with MARCthe Reinsurer. MARC The Reinsurer will also pay its proportionate share of Claim Expenses and its proportionate share of the amount of interest dictated by state statute (“Statutory Interest”) or an amount that is mutually agreed upon by the Ceding Company and MARC that the Ceding Company pays on the death proceeds until the date of settlement. Life benefit proceeds unless payment was unreasonably delayed by payments will be made in a single sum, regardless of the Ceding Company's settlement options. Unless otherwise set forth The Company is responsible for the investigating, contesting, compromising or litigating any Reinsured Policy claims in this Agreementaccordance with applicable law and policy terms. It is the Company's sole decision to determine whether to investigate, contest, compromise or litigate a claim. The Company acknowledges that it follows industry standard and investigates claims with any of the Ceding Company’s contractual liability for Policies reinsured under this Agreement following criteria: a) If the claim occurs within the contestable period as defined by the Reinsured Policy; or b) If there is binding on MARC so long as all conditions and requirements under this Agreement are satisfieda reasonable question regarding the validity of the insured's death or the authenticity of the proofs of death; or c) If the death occurs outside the United States or Canada; or d) If the insured is missing or presumed dead; or e) If there is a reasonable suspicion of fraud. A decision made by claim investigation generally includes confirming proof of death, medical records to validate the Ceding Company as to whether insured's medical disclosures and, if material, financial condition at the time of Policy application. Investigations may also include obtaining police reports, coroner's reports, financial records, or not to deny or pay a claim in whole or in part is other information that would be appropriate under the Ceding Company’s responsibility and rests solely within the Ceding Company’s authority. Within a reasonable time following MARC’s receipt of request for payment and any other required or requested documentation, MARC will adjudicate the claim for reinsurance benefits as appropriatecircumstances. The reinsurance benefit for an approved waiver of premium claim will be MARC’s proportionate share of Company acknowledges that it does defend against claims meeting the annual gross premium waived by the Ceding Company on the Policy. MARC will pay waiver benefits annually regardless of the mode of premium payment specified following criteria: f) If a material misrepresentation is found in the Policy. For all approved waiver Policy application; or g) If fraud is found-, or h) If there is insufficient proof of premium claims for which the payment of direct premium is waived by the Ceding Company, depending on the Ceding Company’s method of administering such claims: (i) MARC will waive its proportionate share of the gross reinsurance premium such that payment of such premium will not be made to MARC and will be netted from the total amount of premium owed for all Policies reinsured under this Agreement or, (ii) in the event the Ceding Company pays premium to MARC on a Policy where a waiver claim has been approved, MARC will reimburse the Ceding Company in the amount of its proportionate share of gross premium on such Policy. If MARC reimburses the Ceding Company for waiver benefits as set forth in (ii) above, such reimbursement will be made on annual bases regardless of the mode of premium payment specified in the Policydeath.

AMOUNT AND PAYMENT OF REINSURANCE BENEFITS. Except As soon as otherwise set forth herein, the total reinsurance recoverable from all companies will not exceed the Ceding Company’s total contractual liability on the Policy, less the amount retained. The maximum reinsurance benefit payable by MARC to the Ceding Company under this Agreement is receives proper claim notice and proof of claim from a claimant or beneficiary, and the risk amount specifically reinsured claim has been reviewed and settled in accordance with MARC. MARC will also pay its proportionate share of Claim Expenses and its proportionate share of the amount of interest dictated by state statute (“Statutory Interest”) or an amount that is mutually agreed upon by process described in Article 9.2, the Ceding Company and MARC that may seek reinsurance benefits by submitting Proof of Claim to the Ceding Company pays on the death benefit proceeds unless Reinsurer. Proof of Claim shall mean proof of payment was unreasonably delayed by the Ceding Company. Unless otherwise set forth in this Agreement, an itemized statement of benefits paid by the Ceding Company’s , and a copy of the insured's death certificate. Upon receipt of Proof of Claim, the Reinsurer will promptly pay the reinsurance benefits due the Ceding Company. The Ceding Company's contractual liability for Policies policies reinsured under this Agreement is binding on MARC so long the Reinsurer, provided that the claim was paid in good faith and the company's standard practices were followed in the adjudication of the claim. Notwithstanding the foregoing, the Reinsurer retains the right upon reasonable notice to request and receive claim papers on any claim for audit purposes, provided payment of such claims shall not be delayed pending the audit. Claims shall be paid promptly upon submission of a proper proof of reinsurance claim subject to the other provisions contained herein. Reinsurer assures Ceding Company that such requests for additional documents prior to payment of any claim will be made only occasionally and not routinely unless warranted by factors such as all conditions and requirements suspected fraud or other identifiable concerns. In any event, Reinsurer shall pay claims covered under this Agreement are satisfiedwithin thirty (30) calendar days of receipt of the Proof of Claim. A decision made by the Ceding Company as to whether or The total reinsurance recoverable from all reinsurers will not to deny or pay a claim in whole or in part is exceed the Ceding Company’s responsibility and rests solely within the Ceding Company’s authority. Within a reasonable time following MARC’s receipt of request for payment and any other required or requested documentation, MARC will adjudicate the claim for reinsurance benefits as appropriate. The reinsurance benefit for an approved waiver of premium claim will be MARC’s proportionate share of the annual gross premium waived by the Ceding Company 's total contractual liability on the Policy. MARC will pay waiver benefits annually regardless of the mode of premium payment specified in the Policy. For all approved waiver of premium claims for which the payment of direct premium is waived by the Ceding Companypolicy, depending on the Ceding Company’s method of administering such claims: (i) MARC will waive its proportionate share of the gross reinsurance premium such that payment of such premium will not be made to MARC and will be netted from the total amount of premium owed for all Policies reinsured under this Agreement or, (ii) in the event the Ceding Company pays premium to MARC on a Policy where a waiver claim has been approved, MARC will reimburse the Ceding Company in less the amount of its proportionate share of gross premium on retained; provided such Policy. If MARC reimburses the Ceding Company for waiver benefits as set forth in (ii) above, such reimbursement will be made on annual bases regardless of the mode of premium payment specified in the Policy.limitation shall IDSL - [redacted] VUL IV Plus/VUL IV Plus-ES Doc# 2080257 14

AMOUNT AND PAYMENT OF REINSURANCE BENEFITS. Except As soon as otherwise set forth herein, the total reinsurance recoverable from all companies will not exceed the Ceding Company’s total contractual liability on the Policy, less the amount retained. The maximum reinsurance benefit payable by MARC to the Ceding Company under this Agreement is receives proper claim notice and proof of claim from a claimant or beneficiary, and the risk amount specifically reinsured claim has been reviewed and settled in accordance with MARC. MARC will also pay its proportionate share of Claim Expenses and its proportionate share of the amount of interest dictated by state statute (“Statutory Interest”) or an amount that is mutually agreed upon by Article 9.2, the Ceding Company and MARC that may seek reinsurance benefits by submitting to the Ceding Company pays on the death benefit proceeds unless Reinsurer Proof of Claim. Proof of Claim shall mean proof of payment was unreasonably delayed by the Ceding Company. Unless otherwise set forth in this Agreement, an itemized statement of benefits paid by the Ceding Company’s , and a copy of the insured's death certificate. If in the event that consistent with Article 5, benefits are payable for a death after policy termination, and the Ceding Company is unable to obtain a death certificate, other proof of death, such as a Social Security record, is acceptable. Upon receipt of Proof of Claim, the Reinsurer will promptly pay the reinsurance benefits due the Ceding Company. The Ceding Company's contractual liability for Policies policies reinsured under this Agreement is binding on MARC so long the Reinsurer, provided that the claim was paid in good faith and the company's standard practices were followed in the adjudication of the claim. The Reinsurer retains the right upon reasonable notice to request and receive any other claim documentation, including the claim file, underwriting file and policy file, on any claim, provided payment of such claim shall not be delayed pending the Reinsurer's review of any such documentation. The Ceding Company will provide any such documentation promptly following the Reinsurer's request. Reinsurer assures Ceding Company that such requests for additional documents prior to payment of any claim will be made only occasionally and not routinely unless warranted by factors such as suspected fraud or other identifiable concerns. In any event, subject to all other conditions and requirements set forth in this Agreement, Reinsurer shall pay claims covered under this Agreement are satisfied. A decision made by the Ceding Company as to whether or not to deny or pay a claim in whole or in part is the Ceding Company’s responsibility and rests solely within the Ceding Company’s authority. Within a reasonable time following MARC’s thirty (30) calendar days of receipt of request for payment and any other required or requested documentation, MARC will adjudicate the claim for reinsurance benefits as appropriate. The reinsurance benefit for an approved waiver Proof of premium claim will be MARC’s proportionate share of the annual gross premium waived by the Ceding Company on the Policy. MARC will pay waiver benefits annually regardless of the mode of premium payment specified in the Policy. For all approved waiver of premium claims for which the payment of direct premium is waived by the Ceding Company, depending on the Ceding Company’s method of administering such claims: (i) MARC will waive its proportionate share of the gross reinsurance premium such that payment of such premium will not be made to MARC and will be netted from the total amount of premium owed for all Policies reinsured under this Agreement or, (ii) in the event the Ceding Company pays premium to MARC on a Policy where a waiver claim has been approved, MARC will reimburse the Ceding Company in the amount of its proportionate share of gross premium on such Policy. If MARC reimburses the Ceding Company for waiver benefits as set forth in (ii) above, such reimbursement will be made on annual bases regardless of the mode of premium payment specified in the PolicyClaim.