MISREPRESENTATION OR SUICIDE Sample Clauses

MISREPRESENTATION OR SUICIDE. If the Ceding Company returns premium to the policyowner or beneficiary as a result of misrepresentation or suicide of the insured, MARC will refund its proportionate share of the premium refund to the Ceding Company in lieu of any other form of reinsurance benefit payable under this Agreement.

MISREPRESENTATION OR SUICIDE. If the company returns premiums to the policyholder or beneficiary as a result of misrepresentation or suicide of the insured, the Reinsurer will refund net reinsurance premiums received on that policy without interest to the Company in lieu of any other form of reinsurance benefit payable under this Agreement.

MISREPRESENTATION OR SUICIDE. If the Company returns premium on a Policy to the policy owner or beneficiary as a result of misrepresentation, suicide of the insured, then all premiums and considerations paid under this Agreement for such Policy will be returned by the Reinsurer and the Company to the other party in lieu of any other form of reinsurance benefit payable under this Agreement. For survivorship (second-to-die) Policies, if a single life Policy is issued to the surviving life where the death of the first insured is by suicide, such resulting Policy shall be issued with the issue date of the original survivorship Policy and shall become reinsured hereunder in accordance with the terms of this Agreement.

MISREPRESENTATION OR SUICIDE. If the Reinsurer is obligated to return premiums as a result of misrepresentation or suicide of any Covered Individual under a Covered Insurance Contract, the Retrocessionaire will refund to the Reinsurer all reinsurance premiums received with respect to such Covered Individual in lieu of any other form of reinsurance benefit payable under this Agreement.

MISREPRESENTATION OR SUICIDE. If the Company returns premium to the policyowner or beneficiary as a result of misrepresentation or suicide of the insured, the Reinsurer will refund reinsurance premium less allowances (hereinafter “Net Reinsurance Premiums”) received on that policy to the Company in lieu of any other form of reinsurance benefit payable under this Agreement. If the Company is required by state law or regulation to pay interest on the payment to the policyowner or beneficiary, then the Reinsurer will include this amount of interest in the refund of reinsurance premiums to the Company. If interest is not required by state law or regulation, the refund by the Reinsurer will be without interest.

MISREPRESENTATION OR SUICIDE. If the Ceding Company returns premium to the policyowner or beneficiary as a result of misrepresentation, tile Reinsurer will refund net reinsurance premiums received on that policy without interest to the Ceding Company in lieu of any other form of reinsurance benefit payable under this Agreement. If the Ceding Company pays an amount equal to the return of premium to a policy owner or beneficiary as a result of suicide of the insured, the Reinsurer will refund the net reinsurance premiums received on that policy with its proportional share of any interest that the Ceding Company may have paid to the policy owner or beneficiary.

MISREPRESENTATION OR SUICIDE. If the Company returns premium on a Policy to the policyowner or beneficiary as a result of misrepresentation or suicide of the insured, then all premiums and consideration paid under this Agreement for such Policy will be returned by the Reinsurer and the Company to the other party in lieu of any other form of reinsurance benefit payable under this Agreement.

MISREPRESENTATION OR SUICIDE. If the Ceding Company, through the Administrator, returns premium to the policyowner or beneficiary as a result of misrepresentation or suicide of the insured, IHLIC will refund its proportionate share of the premium refund to the Ceding Company in lieu of any other form of reinsurance benefit payable under this Agreement.