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

AMOUNT AND PAYMENT OF REINSURANCE BENEFITS. As soon as the Ceding Company receives proper claim notice and proof of claim from a claimant or beneficiary, and the claim has been reviewed and settled in accordance with the process described in Article 9.2, the Ceding Company may seek reinsurance benefits by submitting Proof of Claim to the Reinsurer. Proof of Claim shall mean proof of payment by the Ceding Company, an itemized statement of benefits paid by the Ceding Company, 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 IDSL-NY VUL4/LP Select Treaty 13 contractual liability for policies reinsured under this Agreement is binding on the Reinsurer, provided that the Ceding Company's standard practices were followed in the adjudication of the claim. In the event of insolvency of the Ceding Company, acceleration or estimation of death claims on living individuals shall not form the basis for any claims against the Reinsurer whatsoever; provided the Reinsurer shall remain liable for any claim made by the Ceding Company at the time of death of the individual in accordance with the terms of this Agreement.

AMOUNT AND PAYMENT OF REINSURANCE BENEFITS. As soon as the Ceding Company receives proper claim notice and proof of claim from a claimant or beneficiary, and the claim has been reviewed and settled in accordance with the process described in Article 9.2, the Ceding Company may seek reinsurance benefits by submitting Proof of Claim to the Reinsurer. Proof of Claim shall mean proof of payment by the Ceding Company, an itemized statement of benefits paid by the Ceding Company, 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. It is understood and agreed the ultimate authority to pay or deny a claim will rest solely with the Ceding Company; failure to follow any reinsurer's recommendation will not relieve the Reinsurer of its reinsurance liability. The Ceding Company's IDSL-NY VUL4/LP Select Treaty 13 contractual liability for policies reinsured under Under this Agreement is binding on the Reinsurer, provided that the Ceding Companyclaim was paid in good faith and the company's standard practices were followed in the adjudication of the claim. In the event of insolvency of the Ceding Company, acceleration or estimation of death claims on living individuals shall not form the basis for any claims against the Reinsurer whatsoever; provided the Reinsurer shall remain liable for any claim made by the Ceding Company at the time of death of the individual in accordance with the terms of this Agreement.

AMOUNT AND PAYMENT OF REINSURANCE BENEFITS. As soon as the Ceding Company receives proper claim notice and proof of claim from a claimant or beneficiary, and the claim has been reviewed and settled in accordance with the process described in Article 9.2, the Ceding Company may seek reinsurance benefits by submitting Proof of Claim to the Reinsurer. Proof of Claim shall mean proof of payment by the Ceding Company, an itemized statement of benefits paid by the Ceding Company, 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 IDSL-NY IDSL VUL4/LP Select Treaty 13 14 It is understood and agreed the ultimate authority to pay or deny a claim will rest solely with the Ceding Company; failure to follow any reinsurer's recommendation will not relieve the Reinsurer of its reinsurance liability. The Ceding Company's contractual liability for policies reinsured under this Agreement is binding on the Reinsurer, provided that the Ceding Companyclaim was paid in good faith and the company's standard practices were followed in the adjudication of the claim. In the event of insolvency of the Ceding Company, acceleration or estimation of death claims on living individuals shall not form the basis for any claims against the Reinsurer whatsoever; provided the Reinsurer shall remain liable for any claim made by the Ceding Company at the time of death of the individual in accordance with the terms of this Agreement.

AMOUNT AND PAYMENT OF REINSURANCE BENEFITS. As soon as the Ceding Company receives proper claim notice and proof of claim from a claimant or beneficiary, and the claim has been reviewed and settled in accordance with the process described in Article 9.2, the Ceding Company may seek reinsurance benefits by submitting Proof of Claim to the Reinsurer. Proof of Claim shall mean proof of payment by the Ceding Company, an itemized statement of benefits paid by the Ceding Company, 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 IDSL-NY IDSL VUL4/LP Select Treaty 13 contractual liability for policies reinsured under this Agreement is binding on the Reinsurer, provided that the Ceding Company's standard practices were followed in the adjudication of the claim. In the event of insolvency of the Ceding Company, acceleration or estimation of death claims on living individuals shall not form the basis for any claims against the Reinsurer whatsoever; provided the Reinsurer shall remain liable for any claim made by the Ceding Company at the time of death of the individual in accordance with the terms of this Agreement.