CONTRACT AND PROGRAM CHANGES. 1. The Company may amend, substitute, add or delete variable investment funds to the separate accounts supporting the annuity contract as described in the contract general provisions. No such change will be made by the Company without prior notification to Swiss Re Life & Health and without the prior approval of the Securities and Exchange Commission, if necessary. The Company agrees to maintain at all times a satisfactory selection of core investment options with characteristics similar to those listed in Exhibit B. 2. The Company shall also give Swiss Re Life & Health advance notice of any other changes to its annuity product design, its fees and charges, its distribution systems and/or methods, or the addition of any riders to any contract form reinsured hereunder. 3. Should any such change result in a material increase in the reinsured net amount at risk and/or material decrease in the reinsurance premiums due, Swiss Re Life & Health shall have the right to modify any of the terms of this Agreement.
Appears in 9 contracts
Samples: Reinsurance Agreement (Separate Account VA YNY), Reinsurance Agreement (Separate Account Va-2l), Reinsurance Agreement (Separate Account Va Bny)
CONTRACT AND PROGRAM CHANGES. 1. The Company may amend, substitute, add or delete variable investment funds to the separate accounts underlying investment funds supporting the annuity contract as described in the contract general provisions. No such change will be made by the Company without prior notification to Swiss Re Life & Health and without the prior approval of the Securities and Exchange Commission, if necessary. The Company agrees to maintain at all times a satisfactory selection of core investment options with characteristics similar to those listed in Exhibit B.
2. The Company shall also give Swiss Re Life & Health advance notice of any other changes to its annuity product design, its fees and charges, its distribution systems and/or methods, or the addition of any riders to any contract form reinsured hereunder.
3. Should any such change result in a material increase in the reinsured potential net amount at risk and/or material decrease in the reinsurance premiums due, Swiss Re Life & Health shall have the right to modify any of the terms of this Agreement.
Appears in 6 contracts
Samples: Automatic Reinsurance Agreement (Variable Account D of Union Security Insurance Co), Automatic Reinsurance Agreement (Variable Account D of Union Security Insurance Co), Automatic Reinsurance Agreement (Variable Account D of Union Security Insurance Co)
CONTRACT AND PROGRAM CHANGES. 1. The Company may amend, substitute, add or delete variable investment funds to the separate accounts underlying investment funds supporting the annuity contract as described in the contract general provisions. No such change will be made by the Company without prior notification to Swiss Re Life & Health and without the prior approval of the Securities and Exchange Commission, if necessary. The Company agrees to maintain at all times a satisfactory selection of core investment options with characteristics similar to those listed in Exhibit B.
2. The Company shall also give Swiss Re Life & Health advance notice of any other changes to its annuity product design, its fees and charges, its distribution systems and/or methods, or the addition of any riders to any contract form reinsured hereunder.
3. Should any such change result in a material increase in the reinsured net amount at risk and/or material decrease in the reinsurance premiums due, Swiss Re Life & Health shall have the right to modify any of the terms of this Agreement.
Appears in 1 contract
Samples: Automatic Reinsurance Agreement (John Hancock Life Insurance Co (Usa) Separate Account H)
