Experience Refund. 1. Swiss Re Life & Health shall pay the Company an experience refund equal to 40% of the Adjusted Profit, as defined in Exhibit C, for all variable annuity contracts covered under this Agreement as set forth in Exhibit A. The experience refund calculation shall be pooled with and calculated together with all the variable annuity contracts covered under the Automatic Reinsurance Agreement dated July 1, 1994, between Transamerica Occidental Life Insurance Company and Swiss Re Life & Health. This referenced Agreement provides reinsurance coverage of the Guaranteed Minimum Death Benefit provisions within the Dreyfus Triple Advantage Variable Annuity contracts issued outside of the State of New York. 2. This experience refund shall be calculated monthly and settled quarterly in accordance with Article VII. 3. The experience refund provision shall terminate after this Reinsurance Agreement has been in effect for twenty (20) years.
Appears in 5 contracts
Samples: Reinsurance Agreement (Separate Account Va Qny), Reinsurance Agreement (TFLIC Separate Account VNY), Reinsurance Agreement (Separate Account Va Hny)
