Face Amount Basis. When the reinsurer is participating in the accumulation of surrender values on a policy, or when there are no surrender values on a policy, the reinsurance amount shall be based on the face amount of the policy. The overriding principle involved is that OPTIMUM RE and THE COMPANY will each continue to insure their original proportionate share of the initial face amount.
Appears in 4 contracts
Samples: Reinsurance Agreement (Federal Life Group, Inc.), Reinsurance Agreement (Federal Life Group, Inc.), Automatic Reinsurance Agreement (US Alliance Corp)
Face Amount Basis. When the reinsurer Reinsurer is participating in the accumulation of surrender values on a policy, or when there are no surrender values on a policy, the reinsurance amount shall be based on the face amount of the policy. The overriding principle involved is that OPTIMUM RE INVESTORS HERITAGE and THE COMPANY will each continue to insure their original proportionate share of the initial face amount.
Appears in 1 contract
Samples: Automatic Reinsurance Agreement (Midwest Holding Inc.)
