EXTENDED TERM AND REDUCED Sample Clauses
EXTENDED TERM AND REDUCED. PAID-UP INSURANCE. When a reinsured policy changes to extended term or reduced paid-up insurance, the Ceding Company will notify the Reinsurer of the new amount of reinsurance. Reinsurance rates will remain the same as the rates used for the original policy and will be based on the original issue age, duration since issuance of the original policy and the original underwriting classification.
EXTENDED TERM AND REDUCED. Paid-Up Insurance ------------------------------------------- Changes as a result of extended term or reduced paid-up insurance will be handled like reductions.
EXTENDED TERM AND REDUCED. Paid-Up Insurance - If any policy reinsured under this Agreement converts to Extended Term Insurance or Reduced Paid-Up Insurance, the net amount at risk reinsured will be adjusted as appropriate and reinsurance will be continued in accordance with the continuing provisions of the policy. Reinsurance payments for the adjusted policy will be calculated on the basis of the original issue age of the insured and the duration of the original policy at the time the adjustment became effective, i.e. point-in-scale basis.
EXTENDED TERM AND REDUCED. PAID-UP INSURANCE ------------------------------------------- If the Original Policy lapses and extended term insurance or reduced paid-up insurance is elected under the terms of the policy, reinsurance will be proportionately adjusted. The reinsurance premiums will be calculated in the same manner as reinsurance premiums were calculated on the Original Policy.
EXTENDED TERM AND REDUCED. PAID-UP ADDITIONS Changes as a result of extended term or reduced paid-up insurance will be handled like reductions.
EXTENDED TERM AND REDUCED. Paid-Up policies shall be treated as surrendered policies.
EXTENDED TERM AND REDUCED. PAID-UP ADDITIONS