DE-ARBITRAGE ON POLICIES SOLD BY STP Sample Clauses

DE-ARBITRAGE ON POLICIES SOLD BY STP. If a policy sold by the STP marketing group is de-arbitraged, the Ceding Company will issue a new policy dated as of the date of de-arbitrage. If both insureds are alive, the new policy would be a survivorship policy. If one insured is dead, the new policy will be a single life Universal Life policy. Policy loads and COI’s would be a continuation of the original scale. Reinsurance premiums would also continue on a point-in-scale basis, reflecting the original issue age and underwriting class of the insured, as well as the duration since issuance of the original policy. The reinsurance premiums would continue to be from Section 1 .a, if a survivor policy, and from Section 1 .c of Schedule B if a single life Universal Life policy.
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