Common use of Insurer's Right to Reject Applications Clause in Contracts

Insurer's Right to Reject Applications. The Broker-Dealer and the General Agent acknowledge that each Equitable Life Company has the right in its sole discretion to reject any applications or Premiums received by it and to return or refund to an applicant such applicant's Premium. In the event that an Equitable Life Company rejects an application solicited by an Agent, such Equitable Life Company will return any Premium paid by the applicant to such applicant, or to the soliciting Agent for prompt forwarding to such applicant. In the event that a purchaser exercises his or her free look right under a Contract, any amount to be refunded as provided in such Contract will be so refunded to the purchaser by or on behalf of the Equitable Life Company that issued such Contract, or to the soliciting Agent for prompt forwarding to such purchaser.

Insurer's Right to Reject Applications. The Broker-Dealer and the General Agent acknowledge that each Equitable Life Company has the right in its sole discretion to reject any applications or Premiums received by it and to return or refund to an applicant such applicant's Premium. In the event that an Equitable Life Company rejects an application solicited by an Agent, such Equitable Life Company will return any Premium paid by the applicant to such applicant, or to applicant and will promptly notify the soliciting General Agent for prompt forwarding to of such applicantaction. In the event that a purchaser exercises his or her free look right under a Contract, any amount to be refunded as provided in such Contract will be so refunded to the purchaser by or on behalf of the Equitable Life Company that issued such Contract, or to and such Equitable Life Company will promptly notify the soliciting General Agent for prompt forwarding to of such purchaseraction.