Extended Term Insurance Sample Clauses

Extended Term Insurance. If a policy on a risk reinsured with the Pool member(s) is transferred to Extended Term Insurance, the Ceding Company shall immediately inform the Pool member(s). The net amount of reinsurance on such policy will then be the initial amount of the Ceding Company's policy transferred to Extended Term Insurance less the initial amount of the Ceding Company's retention on such policy immediately prior to the date of transfer and less the interpolated cash value on the initial amount of the Extended Term Insurance reinsured with the Pool. member(s). If the reinsurance on such policy was shared with other reinsurers, the new amount of reinsurance with each reinsurer shall be in proportion to the amount in force with each reinsurer immediately prior to the transfer. Reinstatement - If coverage on a risk automatically reinsured with the Pool lapses and is subsequently reinstated under the Ceding Company's regular rules, the reinsurance will be automatically reinstated. If coverage was reinsured on a facultative basis, the Ceding Company will obtain the approval of the Pool member(s)prior to reinstatement if the portion of the coverage reinsured by the Pool member(s) is greater than the portion of the risks retained by the Ceding Company. The Ceding Company shall pay all reinsurance premiums in arrears for the same period the Ceding Company received premiums in arrears under its policy.
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Extended Term Insurance. If your contract lapses, as described in Section 5.8, Grace Period, we will apply the Cash Surrender Value to continue the Specified Amount and any J176 additional benefits provided by riders for a portion of the next month. The amount of extended term insurance is determined according to the coverage option in effect as of the date insurance is extended under this option.
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Extended Term Insurance. If any premium is unpaid at the end of the grace period, the policy will be in force as fixed benefit extended term insurance. The amount of this term insurance will be the Death Benefit, determined under section 7.1, at the end of the last valuation period prior to the due date of the unpaid premium adjusted for any change in policy debt. The term insurance will start as of the due date of the unpaid premium. The period of term insurance will be determined by using the cash value as of the last day of the grace period as a net single premium at the attained age of the Insured. If the term insurance would extend to or beyond age 100, or if this policy is issued in a classified premium class, fixed benefit paid-up insurance will be provided instead. Extended term insurance does not share in divisible surplus.
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Extended Term Insurance. If any policy reinsured under this Agreement is changed to Extended Term Insurance, the net amount at risk reinsured will be adjusted as appropriate and reinsurance will be continued in accordance with the provisions of the underlying policy. Reinsurance payments for the adjusted policy will be calculated using (1) the issue age of the original policy, (2) the duration since issuance of the original policy and (3) the underwriting classification immediately prior to the change to Extended Term Insurance.
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Extended Term Insurance. If any premium is unpaid at the end of the grace period, this Policy will be in force as Extended Term Insurance. The amount of the Life Insurance Benefit under this Extended Term Insurance will be: • the Insurance Amount shown on page 3; plus • the amount of any Paid-up Additions in force under Section 5; plus • the amount of any dividend accumulations (Section 4.1); minus • the amount of any Policy Debt (Section 7.3). These amounts will be determined as of the due date of the unpaid premium. The Extended Term Insurance will start as of the due date of the unpaid premium. The period of the Extended Term Insur- ance will be determined by using the Cash Surren- der Value as a net single premium at the Attained Age of the Insured. If the Extended Term Insurance would extend to or beyond age 121, Paid-up Insur- ance will be provided instead. Extended Term Insur- ance does not share in divisible surplus (Section 4.1). If the Extended Term Insurance is surrendered within 31 days after a Policy anniversary, the Cash Value will not be less than the Cash Value on that anniversary.
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Extended Term Insurance. If this policy lapses during the Required Annual Premium Years Payable period and has a positive Cash Surrender Value on the date of lapse, coverage under this policy will continue as Extended Term Insurance. At that time, all values from the Separate Account and all values from the Long-Term Guaranteed Interest Account will be transferred to the non-loaned portion of the Guaranteed Interest Account. We then assess the full surrender charge against the policy, which will be taken from the non-loaned portion of the Guaranteed Interest Account. If the policy is in Death Benefit Option 1, the face amount of the policy will be reduced by the amount of any outstanding Debt in effect on the date of lapse. The loaned portion of the Guaranteed Interest Account would then be set to zero, and there will no longer be any outstanding Debt in effect under the policy. At the time the policy lapses to Extended Term Insurance, the Policy Value would be set equal to the Cash Surrender Value as of the date of lapse. Once the policy has lapsed to Extended Term Insurance, the Monthly Administration Charge will no longer apply, and no additional premium payments, transfers, partial surrenders, risk classification changes, or changes in face amount may be made. In addition, policy loans will no longer be available. All additional benefit riders will terminate unless they provide otherwise. While this policy is In Force as Extended Term Insurance, monthly processing will proceed as described under the section entitled Policy Value in Part 6, with the following difference: The cost of insurance charge rates will be those in effect for Extended Term Insurance, but in no event will such rates be higher than the maximum guaranteed cost of insurance rates. This policy will be continued as Extended Term Insurance until the first Monthly Calculation Day that the Policy Value is not sufficient to pay the monthly deduction. In such event, the policy will lapse and terminate without value as of such date. REINSTATEMENT Unless this policy has been surrendered for its Cash Surrender Value or unless Extended Term Insurance, if any, has expired, this policy may be reinstated at any time within three years from the date of the premium default, during the Required Annual Premium Years Payable period, as shown on the Schedule Page. Your request for reinstatement must be made by written application, and will require the submission of evidence of insurability satisfactory to Us, and the payment of...
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Extended Term Insurance. 12 SECTION 22. REDUCED PAID-UP INSURANCE......................................12 SECTION 23.
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Extended Term Insurance. If the policy is changed to Extended Term Insurance, any reduction shall be applied against the reinsured amount and the balance of any reinsurance shall continue on a YRT basis. The amount so calculated shall, however, be reduced by that proportion of any cash value provided under the Extended Term benefit that relates to the reinsured portion of the policy. YRT premiums as per Exhibit 8, Reinsurance Rates, at point in scale, shall be paid to the Reinsurer and any extra premiums shall continue to be payable as described in Section 13, Reinsurance Premiums.
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Extended Term Insurance. If the policy is changed to Extended Term Insurance, the reinsurance shall continue on a YRT basis. The reinsurance amount shall be in the same proportion to the Extended Term amount as was the initial reinsurance amount to the initial face amount of the policy. The amount so calculated shall, however, be reduced by that proportion of any cash value provided under the Extended Term benefit which relates to the reinsured portion of the policy. YRT reinsurance premiums as per Exhibit 10, Reinsurance Pates, at point in scale using a rate of 25% higher than standard, shall be paid to the Reinsurer, and any extra reinsurance premiums shall continue to be payable as described in Section 9, Reinsurance Premiums.
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Related to Extended Term Insurance

  • Long-Term Disability Insurance 250. The City, at its own cost, shall provide to employees a Long Term Disability (LTD) benefit that provides, after a one hundred and eighty (180) day elimination period, sixty percent salary (60%) (subject to integration) up to age sixty-five (65). Employees who are receiving or who are eligible to receive LTD shall be eligible to participate in the City's Catastrophic Illness Program as set forth in the ordinance governing such program.

  • Indemnity Insurance a. The Service Provider agrees to indemnify and save harmless the City, its officers, agents and employees against and from any and all actions, suits, claims, demands or liability of any character whatsoever brought or asserted for injuries to or death of any person or persons, or damages to property arising out of, result from or occurring in connection with the performance of any service hereunder.

  • Excess Liability Insurance $___________________ minimum required insurance policy for anything other than General Liability or Automobile coverage. ☐ - Additional Insurance Requirement: Client, Contractor, and any other entity which the Contractor is required to name as an additional insured under the Prime Contract shall be named as additional insureds under the General Liability Insurance required by this Section and any such insurance afforded to the additional insureds shall apply as primary insurance. Any other insurance maintained by the Client or Contractor shall be excess insurance and shall not be called upon to contribute to Subcontractor’s primary or excess insurance carrier’s duty to defend or indemnify unless required by law. The excess insurance required above shall also afford additional insured protection to Client and Contractor. This Section shall in no event be construed to require that additional insured insurance coverage be provided to a greater extent than permitted under the statutes or public policy governed under State law. Certificates of Insurance. Certificates of insurance, and the required additional insured and other endorsements, including waivers of subrogation shall be furnished to Contractor before the performance of any Services.

  • Tenant Insurance Landlord shall not be liable to Tenant, Xxxxxx’s family or Xxxxxx’s invitees, licensees, and/or guests for damages not proximately caused by Landlord or Landlord’s agents. Landlord will not compensate Tenant or anyone else for damages proximately caused by any other source whatsoever, or by Acts of God, and Tenant is therefore strongly encouraged to independently purchase insurance to protect Tenant, Xxxxxx’s family, Xxxxxx’s invitees, licensees, and/or guests, and all personal property on the leased premises and/or in any common areas from any and all damages.

  • Disability Insurance The Company shall maintain, at its cost, supplemental renewable long-term disability insurance as agreed to by the Company and the Executive.

  • LESSEE'S LIABILITY INSURANCE (fill in) The LESSEE shall maintain with respect to the leased premises and the property of which the leased premises are a part comprehensive public liability insurance in the amount of $1,000,000.00 with property damage insurance in limits of $1,000,000.00 in responsible companies qualified to do business in Massachusetts and in good standing therein insuring the LESSOR as well as LESSEE against injury to person or damage to property as provided. The LESSEE shall deposit with the LESSOR certificates for such insurance at or prior to the commencement of the term, and thereafter within thirty (30) days prior to the expiration of any such policies. All such insurance certificates shall provide that such policies shall not be cancelled without at least ten (10) days prior written notice to each assured named therein.

  • Comprehensive General Liability Insurance The Lessee shall procure and maintain a valid Comprehensive General Liability Insurance indemnifying the Lessor with minimum coverage of $ for personal injury and $ for damage to property.

  • General Liability Insurance The Contractor must secure and maintain Commercial General Liability Insurance, including bodily injury, property damage, products, personal and advertising injury, and completed operations. This insurance must provide coverage for all claims that may arise from performance of the Contract or completed operations, whether by the Contractor or anyone directly or indirectly employed by the Contractor. Such insurance must include the State of Florida as an additional insured for the entire length of the resulting contract. The Contractor is responsible for determining the minimum limits of liability necessary to provide reasonable financial protections to the Contractor and the State of Florida under the resulting contract.

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