Common use of MISSTATEMENT OF AGE OR SEX Clause in Contracts

MISSTATEMENT OF AGE OR SEX. If the amount of insurance provided by any policy or policies reinsured hereunder is increased or reduced because of a misstatement of age or sex that is established after the death of the insured, the Reinsurer shall share in the increase or reduction in the proportion that the net liability of the Reinsurer bears to the total of the net liability of the Ceding Company and the net liability of all reinsurers, including the Reinsurer, immediately prior to such increase or reduction. The reinsurance shall be restructured from commencement on the basis of the adjusted amount using premiums and reserves for the correct age or sex. The adjustment for the difference in reinsurance premiums and any associated commissions or allowances, dividends, policy value or reserves shall be made without interest.

MISSTATEMENT OF AGE OR SEX. If the amount of insurance provided by any policy or policies reinsured hereunder is increased or reduced because of a misstatement of age or sex that which is established after the death of the insuredinsured individual, the Reinsurer REINSURER shall share in the increase or reduction in the proportion that the net liability of the Reinsurer REINSURER bears to the total of the net liability of the Ceding Company CEDING COMPANY and the net liability of all reinsurers, including the ReinsurerREINSURER, immediately prior to such increase or reduction. The reinsurance shall be restructured from commencement on the basis of the adjusted amount using premiums and reserves for the correct age or sex. The adjustment for the difference in reinsurance premiums and any associated commissions or allowances, dividends, policy value or reserves shall be made without interest.

MISSTATEMENT OF AGE OR SEX. If the amount of insurance provided by any policy or the policies reinsured hereunder is increased or reduced because of a misstatement of age or sex that is established after the death of the a life insured, the Reinsurer shall share in the increase or reduction in the proportion that the net liability of the Reinsurer bears to the total of the net liability of the Ceding Company and the net liability of all reinsurers, including the Reinsurer, immediately prior to such increase or reduction. The reinsurance with the Reinsurer shall be restructured rewritten from commencement on the basis of the adjusted amount amounts using premiums and reserves for at the correct age or sex. The adjustment for the difference in reinsurance premiums and any associated commissions or allowances, dividends, policy value or reserves shall be made without interest.

MISSTATEMENT OF AGE OR SEX. If In the event the amount of insurance provided by any a policy or policies reinsured hereunder is increased or reduced because of a misstatement of age or sex that is established after the death of the insured, the Reinsurer shall share in the increase or reduction in the proportion that the net liability that the Reinsurer bore to the sum of the Reinsurer bears to the total of the retained net liability of the Ceding Company and the net liability of all reinsurers, including the Reinsurer, other reinsurers immediately prior to such increase or reduction. The reinsurance with the Reinsurer shall be restructured restated from commencement on the basis of the adjusted amount amounts using premiums and reserves for at the correct age or ages and sex. The adjustment for the difference in reinsurance premiums and any associated commissions or allowances, dividends, policy value or reserves shall be made without include payment of interest.

MISSTATEMENT OF AGE OR SEX. If the amount of insurance provided by any policy or policies reinsured hereunder is increased or reduced because of a misstatement of age or sex that is established after the death of the insured, the Reinsurer shall share in the increase or reduction in the proportion that the net liability of the Reinsurer bears to the total of the net liability of the Ceding Company and the net liability of all reinsurers, including the Reinsurer, immediately prior to such increase or reduction. The reinsurance shall be restructured from commencement on the basis of the adjusted amount using premiums and reserves for the correct age or sex. The adjustment for the difference in reinsurance premiums and any associated commissions or allowances, dividends, policy value or reserves shall be made without interest.