INCREASE IN RETENTION. The reduction in reinsurance shall first be applied to the reinsurance, if any, of the specific policy under which insurance terminated. The reinsurance of the Reinsurer shall be reduced by an amount which is in the same proportion of the amount of reduction so applied as the reinsurance of the Reinsurer bore to the total reinsurance of the policy. The balance, if any, of the reduction shall be applied to reinsurance of other policies on the life, the further reduction, if any, in the reinsurance of the Reinsurer again being determined on a proportional basis and shall be applied to policies in chronological order according to original policy dates.
Appears in 14 contracts
Samples: Automatic Yrt Agreement (Massachusetts Mutual Variable Life Separate Account I), Automatic Yrt Agreement (Massachusetts Mutual Variable Life Separate Account I), Automatic Yrt Agreement (Massachusetts Mutual Variable Life Separate Account I)
INCREASE IN RETENTION. The reduction in reinsurance shall first be applied to the reinsurance, if any, of the specific policy under which insurance terminated. The reinsurance of the Reinsurer shall be reduced by an amount which is in the same proportion of the amount of reduction so applied as the reinsurance of the Reinsurer bore to the total reinsurance of the policy. The balance, if any, of the reduction shall be applied to reinsurance of other policies on the life, the further reduction, if any, in the reinsurance of the Reinsurer again being determined on a proportional basis and shall be applied to policies in chronological order according to original policy dates. Reinsurer shall return to the Ceding Company any reinsurance premiums without interest thereon, paid to the Reinsurer for the period beyond the date of the reduction of reinsurance hereunder.
Appears in 1 contract
Samples: Automatic Yrt Agreement (Massachusetts Mutual Variable Life Separate Account I)
INCREASE IN RETENTION. The reduction in reinsurance shall first be applied to the reinsurance, if any, of the specific policy Policy under which insurance terminated. The reinsurance of the Reinsurer shall be reduced by an amount which is in the same proportion of the amount of reduction so applied as the reinsurance of the Reinsurer bore to the total reinsurance of the policyPolicy. The balance, if any, of the reduction shall be applied to reinsurance of other policies on the life, the further reduction, if any, in the reinsurance of the Reinsurer again being determined on a proportional basis and shall be applied to policies in chronological order according to original policy dates.
Appears in 1 contract
Samples: Agreement (Massachusetts Mutual Variable Life Separate Account I)
