Common use of CHANGES OF ORIGINAL POLICY Clause in Contracts

CHANGES OF ORIGINAL POLICY. Reinsurance effected under the Agreement shall be maintained in force so long as the amount of insurance carried by the Ceding Company is in force either continuously, by reinstatement, by substitution, or by conversion, except as follows: Reduction and Termination - If the face amount of any in force insurance with the Ceding Company on any particular life is reduced, the full amount of the retention will apply to reduce any in force reinsurance on the life. If there is more than one insurance policy on the life, the retention will apply first to any reinsurance on the policy being reduced, and then, on a chronological basis, to any reinsurance on the other in force policies on the life. If the reinsurance on any particular policy has been ceded to more than one reinsurer, the reduction in the reinsurance with each reinsurer on such policy shall be in proportion to the amounts originally ceded to each reinsurer.

CHANGES OF ORIGINAL POLICY. Reinsurance effected under the Agreement shall be maintained in force so long as the amount of insurance carried by the Ceding Company is in force either continuously, by reinstatement, by substitution, or by conversion, except as follows: Reduction and Termination - If the face amount of any in force insurance with the Ceding Company on any particular life is reduced, the full amount of the retention reduction will apply to reduce any in force reinsurance on the life. If there is more than one insurance policy on the life, the retention reduction will apply first to any reinsurance on the policy being reduced, and then, on a chronological basis, to any reinsurance on the other in force policies on the life. If the reinsurance on any particular policy has been ceded to more than one reinsurer, the reduction in the reinsurance with each reinsurer on such policy shall be in proportion to the amounts originally ceded to each reinsurer.