Common use of Extended Term and Reduced Paid-Up Insurance Clause in Contracts

Extended Term and Reduced Paid-Up Insurance. If any policy reinsured under this Agreement lapses and either extended term insurance or reduced paid-up insurance is elected under the terms of the policy, reinsurance will be continued in accordance with the provisions of the underlying 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.

Extended Term and Reduced Paid-Up Insurance. If any the original policy reinsured under this Agreement lapses and either extended term insurance or reduced paid-up insurance is elected under the terms of the policy, reinsurance will be continued in accordance with the provisions of the underlying policyproportionately adjusted. Reinsurance payments for the adjusted policy The reinsurance premiums will be calculated in the same manner as reinsurance premiums were 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 effectivepolicy.

Extended Term and Reduced Paid-Up Insurance. If any policy reinsured under this Agreement lapses and either extended term insurance or reduced paid-up insurance is elected under the terms of the policy, reinsurance will be continued in accordance with the provisions of the underlying 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. 4.

Extended Term and Reduced Paid-Up Insurance. If any policy reinsured under this Agreement the Original Policy lapses and either extended term insurance or is elected under the terms of the policy, reinsurance will continue on the same basis as under the Original Policy until the expiry of the extended term period. If the Original Policy lapses and reduced paid-up insurance is elected under the terms of the policy, reinsurance the amount reinsured and the amount retained will be continued in accordance with the provisions of the underlying policyreduced proportionately. Reinsurance payments for the adjusted policy The reinsurance premiums will be calculated in the same manner as reinsurance premiums were 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 effectiveOriginal Policy.