COMMENCEMENT AND TERMINATION OF LIABILITY. A. On liabilities ceded under the terms of this Agreement, the liability of the Reinsurer shall commence simultaneously with that of the Cedent.
B. The liability of the Reinsurer for all ceded liabilities under this Agreement may terminate in accordance with:
1. the Duration of Agreement provisions of this Agreement set forth in Article XX;
2. the termination provisions set forth within Article VI; or
3. the Recapture Privileges set forth in Article IX.
COMMENCEMENT AND TERMINATION OF LIABILITY. 2 Article III.
COMMENCEMENT AND TERMINATION OF LIABILITY. A. On reinsurance ceded under the terms of this Agreement, the liability of the REINSURER shall commence simultaneously with that of the CEDING COMPANY.
B. The liability of the REINSURER for all reinsured contracts under this Agreement may terminate in accordance with
1. the Duration of Agreement provisions of this Agreement set forth in Article XX, or
2. the termination provisions set forth within Article VI, Administration, or
3. the Recapture Privileges set forth in Article IX.
C. For an individual contract, the liability of the REINSURER under this Agreement will terminate either in accordance with Paragraph B, above, or upon the earliest of the following occurrences defined in the contract(s) reinsured hereunder:
1. the date the owner elects to annuitize pursuant to other than the Income Program;
2. surrender or termination of the contract
3. full withdrawal, including 1035 exchanges and qualified transfers when the CEDING COMPANY terminates the contract and releases the proceeds to the contract owner, beneficiary, annuitant or new carrier;
4. the death of the owner or annuitant where such death triggers the payment of a contractual death benefit, except when spousal continuance has been elected during the new business term of this Agreement as defined in Article XX, Paragraph A. On spousal continuance election the REINSURER's liability will be terminated upon death of the spouse;
5. attainment of the maximum annuitization age or attained age 95, if earlier.
D. Upon annuitization under the Income Program, the liability of the REINSURER shall terminate, subject to the payment of a benefit claim that may be due in accordance with the IBNAR calculation as set forth in Article IV.
COMMENCEMENT AND TERMINATION OF LIABILITY. A. On reinsurance ceded under the terms of this Agreement, the liability of the REINSURER shall commence simultaneously with that of the CEDING COMPANY. The liability under this Agreement will terminate either:
1. in accordance with the Duration of Agreement provisions of this Agreement as stated in Article XX; or,
2. for an individual contract, upon the earliest of the following occurrences defined in the contract(s) reinsured hereunder:
a. the date the owner elects to annuitize b. surrender or termination of the contract
COMMENCEMENT AND TERMINATION OF LIABILITY. The liability of Allianz Life on individual life facultative reinsurance offers that are accepted and acknowledged by the Ceding Company shall commence and terminate simultaneously with that of the Ceding Company notwithstanding the other provisions of this agreement. The reinsurance shall be subject to the same terms and conditions as the policy issued by the Ceding Company on the life of the insured - excluding the provisions governing dividends, cash values, policy loans, and settlement options. There shall be no reinsurance for interim insurance nor insurance placed in force under the terms of a conditional receipt unless and until the Ceding Company has accepted Allianz Life's offer and placed its policy in force during the lifetime of the insured in accordance with its written placement procedures. Exceptions to the following written placement procedures may be granted only by written approval from Allianz Life. In order for Allianz Life to be liable on any Conditional Receipt or Temporary insurance Receipt in accordance with the preceding qualifications, the Ceding Company must have submitted to Allianz Life a copy of the application and receipt it intends to use with regard to risks reinsured hereunder, and must have received written acknowledgment from Allianz Life that it intends to be bound on such receipt as herein stated. The Ceding Company shall give Allianz Life timely notice of proposed changes to its Conditional Receipt or Temporary Insurance Receipt or in its practices in issuing Conditional Receipts or Temporary Insurance Receipts. Allianz Life shall have no liability under such revised Conditional Receipt, Temporary Insurance Receipt or practices unless the Ceding Company has received written acknowledgment from Allianz Life that it intends to be bound by such revision.
COMMENCEMENT AND TERMINATION OF LIABILITY. A. On liabilities retroceded under the terms of this Agreement, the liability of the Retrocessionaire shall commence simultaneously with that of the Retrocedent.
B. The liability of the Retrocessionaire for all retroceded liabilities under this Agreement may terminate in accordance with:
1. the Duration of Agreement provisions of this Agreement set forth in Article XX;
2. the termination provisions set forth within Article VI; or
COMMENCEMENT AND TERMINATION OF LIABILITY. A. On reinsurance ceded under the terms of this Agreement, the liability of the REINSURER shall commence simultaneously with that of the CEDING COMPANY.
B. The liability of the REINSURER for all reinsured contracts under this Agreement may terminate in accordance with
1. the Duration of Agreement provisions of this Agreement set forth in Article XX, or
2. the termination provisions set forth within Article VI, Administration, or
3. the Recapture Privileges set forth in Article IX.
C. For an individual contract, the liability of the REINSURER under this Agreement will terminate either in accordance with Paragraph B, above, or upon the earliest of the following occurrences defined in the contract(s) reinsured hereunder:
1. the date the owner elects to annuitize;
2. surrender or termination of the contract
3. full withdrawal, including 1035 exchanges and qualified transfers when the CEDING COMPANY terminates the contract and releases the proceeds to the contract owner, beneficiary, annuitant or new carrier;
4. the death of the owner or annuitant where such death triggers the payment of a contractual death benefit, except when spousal continuance has been elected during the new business term of this Agreement as defined in Article XX, Paragraph A. On spousal continuance election the REINSURER's liability will be terminated upon death of the spouse;
5. attainment of the maximum annuitization age or attained age 95, if earlier;
6. the first day of the month following a withdrawal that causes the Account Value of the contract to fall below one thousand five hundred dollars ($1,500). Once reinsurance coverage ends for a specific contract, it cannot be reinstated under this Agreement. This Paragraph C.
COMMENCEMENT AND TERMINATION OF LIABILITY. A. On reinsurance ceded under the terms of this Agreement, the liability of the REINSURER shall commence simultaneously with that of the CEDING COMPANY.
B. The liability of the REINSURER for all reinsured contracts under this Agreement may terminate in accordance with
1. the duration provisions set forth in Article XX, or
2. the termination provisions set forth within Article VI, or
3. the recapture provisions set forth in Article IX.
C. For an individual contract, the liability of the REINSURER under this Agreement will terminate either in accordance with Paragraph B, above, or upon the earliest of the following occurrences defined in the contract(s) reinsured hereunder:
1. the date the owner elects to annuitize;
2. surrender or termination of the contract (including 1035 exchanges);
3. the death of the owner or annuitant where such death triggers the payment of a contractual death benefit, except when spousal continuance has been elected. On spousal continuance election the REINSURER's liability will be terminated upon death of the spouse;
4. attainment of the maximum annuitization age or attained age 95, if earlier.
D. The REINSURER shall be liable to reimburse claims in accordance with Article VII, only on those deaths where the actual date of death is on or after the EFFECTIVE DATE. -------------------------------------------------------------------------------- GE Capital of New York, Agreement No.2001-51 Page 2 Effective July 1, 2001
COMMENCEMENT AND TERMINATION OF LIABILITY. A. On reinsurance ceded under the terms of this Agreement, the liability of the REINSURER shall commence simultaneously with that of the CEDING COMPANY.
B. The liability of the REINSURER for all reinsured contracts under this Agreement may terminate in accordance with:
1. the termination provisions set forth within Article V(F)(2); or
2. the recapture provisions set forth in Article X(C).
C. For an individual contract, the liability of the REINSURER and any associated Reinsurance premiums under this Agreement will terminate either in accordance with Paragraph B, above, or upon the earliest of the following occurrences defined in the contract(s) reinsured hereunder:
1. surrender or termination of the contract (including 1035 exchanges);
2. the death of the last surviving annuitant; or
3. the owner elects to annuitize the contract under Annuity Income option 2 of the applicable policy form listed in Schedule A and the resulting annuitization is not reinsured with the REINSURER.
D. The REINSURER shall be liable to reimburse claims in accordance with Article VI only on those GMWB Products sold on or after the EFFECTIVE DATE.
COMMENCEMENT AND TERMINATION OF LIABILITY. 2 [redacted] Article III. Oversights and Clerical Errors.............................. 3 [redacted] Article IV. Net Amount at Risk.......................................... 4 [redacted] Article V. Reinsurance Premiums........................................ 6 [redacted]
