Increasing Net Amount at Risk Policies and Riders. continued C. Death Benefit Option D (Up to Two Times the Initial Face Amount) 1. Death Benefit Option D (which is a special case of VART) is underwritten and reported as two times the Initial Face Amount for all coverages issued with the policy. 2. The CEDING COMPANY will report the ultimate doubled face amount for all Option D coverages issued with the policy. Coverage is ceded on an excess of retention basis, with the CEDING COMPANY retaining the amounts shown in Exhibit A. The face amount ceded will be the REINSURER’s portion of the total face amount based on the REINSURER’s automatic pool participation percentage. 3. The CEDING COMPANY will report the current net amount at risk as the NAR amount for policies with Option D. Premium paid the REINSURER for policies with Option D is calculated and paid on the current ceded NAR amount. 4. Death benefits payable will be based upon current NAR.
Appears in 7 contracts
Samples: Automatic and Facultative Yearly Renewable Term Agreement (Pacific Select Exec Separate Acct Pacific Life Ins), Automatic and Facultative Yearly Renewable Term Agreement (Pacific Select Exec Separate Acct Pacific Life Ins), Automatic and Facultative Yearly Renewable Term Agreement (Pacific Select Exec Separate Acct Pacific Life Ins)
