INTEREST RATE FOR BALANCES IN DEFAULT. The Reinsurer reserves the right to charge interest at the prime rate plus two percent (2%) as stated in the Wall Street Journal on the 1st business day in January prior to the due date of the premium when:
Appears in 4 contracts
Samples: Yrt Reinsurance Agreement (Farmers Variable Life Separate Account A), Automatic/Facultative Yrt Reinsurance Agreement (National Variable Life Insurance Account), Yrt Reinsurance Agreement (Farmers Variable Life Separate Account A)
INTEREST RATE FOR BALANCES IN DEFAULT. The Reinsurer reserves the right to charge interest at the prime rate plus two percent (2%) as stated in the Wall Street Journal on the 1st business day in January prior to the due date of the premium when:when renewal premiums are not paid within sixty (60) days of the due date.
Appears in 2 contracts
Samples: Reinsurance Agreement (Thrivent Variable Life Account I), Guaranteed Issue and Fully Underwritten (COLI VUL-4 Series Account of First Great-West Life & Annuity Insurance CO)
INTEREST RATE FOR BALANCES IN DEFAULT. The Reinsurer reserves the right to charge interest at the prime rate plus two percent (2%) % as stated in the Wall Street Journal on the 1st business day in January prior to the due date of the premium when:
Appears in 1 contract
Samples: Ance Agreement (Farmers Variable Life Separate Account A)
INTEREST RATE FOR BALANCES IN DEFAULT. The Reinsurer reserves and Ceding Company reserve the right to charge interest at the prime rate plus two percent (2%) as stated in the Wall Street Journal on the 1st business day in January prior to the due date of the claims or premium when:when death claims or renewal premiums are not paid within sixty (60) days of the due date.
Appears in 1 contract
Samples: Reinsurance Agreement (Penn Mutual Variable Life Account I)
INTEREST RATE FOR BALANCES IN DEFAULT. The Reinsurer reserves the right to charge interest at the prime rate plus two percent (2%) as stated in the Wall Street Journal on the 1st 15t business day in January prior to the due date of the premium when:
Appears in 1 contract
Samples: Reinsurance Agreement (Nationwide VLI Separate Account-7)
INTEREST RATE FOR BALANCES IN DEFAULT. The Reinsurer reserves the right to charge interest at the prime rate plus two percent (2%) [*] as stated in the Wall Street Journal on the 1st business day in January prior to the due date of the premium when:
Appears in 1 contract
Samples: Reinsurance Agreement (Ameritas Variable Separate Account V)
