MISSTATEMENT OF AGE OR GENDER. In the event of a change in the amount of the Ceding Company’s liability on a policy due to a misstatement of age or gender, the Reinsurer’s liability on its Proportionate Share will change within the terms of this Agreement. The Reinsured Net Amount at Risk will be adjusted from the inception of the Original Policy, and any difference will be settled without interest.
MISSTATEMENT OF AGE OR GENDER. In the event of an increase or reduction in the amount of the Ceding Company’s insurance on any Policy reinsured hereunder because of a misstatement of age or sex being established after the death of the insured, the Ceding Company and the Reinsurer shall share in such increase or reduction in proportion to their respective amounts at risk under such Policy.
MISSTATEMENT OF AGE OR GENDER. If the Annuitant’s Age or gender, if applicable, is not correct when given to Us at the time benefits become payable, We will adjust the periodic income payable under the supplementary contract. Any adjustment will be based on the amount of periodic income that would have been purchased at the correct Age and gender, if applicable. Any overpayments or underpayments by Us on account of Age or gender will be assessed at an interest rate not to exceed 6%.
MISSTATEMENT OF AGE OR GENDER. If the amount of insurance changes because of a misstatement of age or sex classification, the Reinsurer’s share of liability will change proportionately. Reinsurance Premiums will be adjusted from the inception of the policy and any differences will be settled without interest.
MISSTATEMENT OF AGE OR GENDER. If there is a misstatement of Age or gender of the Owner or Annuitant, we will correct the applicable Age or gender, except as further described below. Before Annuity Payments begin, if there is a misstatement of the Age of the Owner or Annuitant and this contract was issued after the Maximum Issue Age, we will refund Purchase Payments paid minus any prior withdrawals, and we will void this contract. The Maximum Issue Age is shown on the Contract Schedule. After the Annuity Date, if there is a misstatement of the Age or gender of the Annuitant, we recalculate the Annuity Payments based on the correct Age and gender. If the misstatement caused an underpayment, we pay the Payee the difference in one payment. If the misstatement caused an overpayment, we reduce the next payment by the amount of the difference. If the amount of the difference is larger than the next payment, we reduce the subsequent payment, and so on until the entire difference has been subtracted. If the future payments are insufficient to cover the difference, we bill the Payee for the amount due. Any underpayment or overpayment will not include interest.
MISSTATEMENT OF AGE OR GENDER. In the event of a misstatement of the insured’s age or gender, the reinsured net amount at risk will be adjusted to the amount that would have been issued with the premiums paid for the correct age and gender, subject to the terms of this Agreement, as though such revised liability had been in effect on the date reinsurance for such Policy commenced under Article 3 of this Agreement. Any difference in reinsurance premium as the result of such change will be settled without interest.
MISSTATEMENT OF AGE OR GENDER. If any person's age or gender is misstated, any Contract benefits or proceeds will be redetermined using the correct age and gender. If any overpayments have been made, future payments will be adjusted. Any underpayments will be paid in full. NONPARTICIPATING This Contract is nonparticipating. It does not share in our profits or surplus. No dividends are payable. PREMIUM TAX Premium tax rates and rules vary by state and may change. We reserve the right to deduct any such tax from your premium payment when received. The premium tax rate shown on the Contract Data Pages is the rate that was in effect in your state on the Contract Date.
MISSTATEMENT OF AGE OR GENDER. In the event of a change in the amount of the Ceding Company’s liability on a policy due to a misstatement of age or gender, the REINSURER’s liability on its proportionate share will change within the terms of this Agreement. The Reinsurance Death Benefit will be adjusted from the inception of the Original Policy, and any difference will be settled without interest.
MISSTATEMENT OF AGE OR GENDER. If there is a misstatement of Age or gender of the Owner or Annuitant, we will correct the applicable Age or gender, except as further described below. Before Annuity Payments begin, if there is a misstatement of the Age of the Owner or Annuitant and this contract was issued after the Maximum Issue Age, we will refund Purchase Payments paid, minus any prior withdrawals and any fees or charges that are not imposed by us that you have directed us to pay from this contract, and we will void this contract. The Maximum Issue Age is shown on the Contract Schedule. After the Annuity Date, if there is a misstatement of the Age or gender of the Annuitant, we recalculate the Annuity Payments based on the correct Age and gender. If the misstatement caused an underpayment, we pay the Payee the difference in one payment. If the misstatement caused an overpayment, we reduce the next payment by the amount of the difference. If the amount of the difference is larger than the next payment, we reduce the subsequent payment, and so on until the entire difference has been subtracted. If the future payments are insufficient to cover the difference, we bill the Payee for the amount due. Any underpayment or overpayment will not include interest. L40538-IADV 16 [Admin Tracking Identifier] General Provisions continued from the previous page Annual Report At least once each calendar year during the Accumulation Phase, we send you a report that shows contract activity and the Contract Value.
MISSTATEMENT OF AGE OR GENDER. In the event of a misstatement of the insured’s age or gender, the reinsured net amount at risk will be adjusted to the amount that would have been issued with the premiums paid for the correct age and gender, subject to the terms of this Agreement, as though such revised liability had been in effect on the date reinsurance for such Policy commenced under Article 3 of this Agreement. Any difference in reinsurance premium as the result of such change will be settled without interest. Treaty #4345 Munich American Reassurance Company P a g e | 20
