Maximum Retention Per Life. The maximum amount of risk that the Ceding Company may hold on an individual insured according to its published Retention schedule. New Business – Policies on which the Ceding Company (1) has obtained the same new underwriting information it would obtain in absence of the Original Policy, (2) pays the same commissions in the first year that it would have paid in absence of the Original Policy and (3) the suicide and contestable period provisions are as long as those contained in other new policies issued by the Ceding Company.
Appears in 1 contract
Samples: Yrt Reinsurance Agreement (Minnesota Life Individual Variable Universal Life Account)
Maximum Retention Per Life. The maximum amount of risk that the Ceding Company may hold on an individual insured according to its their published Retention retention schedule. New Business – Policies on which the Ceding Company (1) has obtained the same new underwriting information it would obtain in absence of the Original Policy, (2) pays the same commissions in the first year that it would have paid in absence of the Original Policy and (3) the suicide and contestable period provisions are as long as those contained in other new policies issued by the Ceding Company.
Appears in 1 contract
Samples: Reinsurance Agreement (National Variable Life Insurance Account)
Maximum Retention Per Life. The maximum amount of risk that the Ceding Company may hold on an individual insured according to its published Retention schedule. New Business – Policies on which the Ceding Company (1) has obtained the same new underwriting information it would obtain in absence of the Original Policy, (2) pays the same commissions in the first year that it would have paid in absence of the Original Policy and (3) the suicide and contestable period provisions are as long as those contained in other new policies issued by the Ceding Company. New Plan – The plan to which the Original Policy is exchanged or replaced.
Appears in 1 contract
Samples: Reinsurance Agreement (COLI VUL-4 Series Account of First Great-West Life & Annuity Insurance CO)
Maximum Retention Per Life. The maximum amount of risk that the Ceding Company may hold on an individual insured according to its published Retention schedule. New Business – Policies on which the Ceding Company (1) has obtained obtained, the same new underwriting information it would obtain in absence of the Original Policy, (2) pays the same commissions in the first year that it would have paid in absence of the Original Policy and (3) the suicide and contestable period provisions are as long as those contained in other new policies issued by the Ceding Company.
Appears in 1 contract
Samples: Yrt Reinsurance Agreement (Minnesota Life Individual Variable Universal Life Account)
