Non-Payment of Premium. If reinsurance premiums are delinquent, the Reinsurer has the right to terminate the reinsurance risks on those policies listed on the delinquent monthly statement by giving the Ceding Company ninety days' advance written notice. If the delinquent premiums have not been paid as of the close of the ninety-day period, the Reinsurer's liability will terminate for the risks described in the delinquency notice. Regardless of the termination, the Ceding Company will continue to be liable to the Reinsurer for all unpaid reinsurance premiums earned.
Appears in 11 contracts
Samples: Reinsurance Agreement (Hartford Life & Annuity Insurance Co Sep Account Vl I), Automatic Yearly Renewable Term (Hartford Life & Annuity Insurance Co Sep Account Vl I), Automatic Yearly Renewable Term (Separate Account Vl I of Hartford Life Insurance Co)
Non-Payment of Premium. If reinsurance premiums are delinquent, the Reinsurer has the right to terminate the reinsurance risks on those policies listed on the delinquent monthly statement by giving the Ceding Company ninety days' advance written notice. If the delinquent premiums have not been paid as of the close of the ninety-day period, the Reinsurer's Reinsurers liability will terminate for the risks described in the delinquency notice. Regardless of the termination, the Ceding Company will continue to be liable to the Reinsurer for all unpaid reinsurance premiums earned.
Appears in 2 contracts
Samples: Automatic Yearly Renewable Term (Separate Account Vl I of Hartford Life Insurance Co), Reinsurance Agreement (Hartford Life & Annuity Insurance Co Sep Account Vl I)
Non-Payment of Premium. If reinsurance premiums are delinquent, the Reinsurer has the right to terminate the reinsurance risks on those policies listed on the delinquent monthly statement by giving the Ceding Company ninety days' advance written notice. If the delinquent premiums have not been paid as of the close of the ninety-day period, the Reinsurer's liability will terminate for the risks described in the delinquency notice. Regardless of the termination, the Ceding Company will continue to be liable to the Reinsurer for all unpaid reinsurance premiums earned. 3.
Appears in 1 contract
Samples: Automatic Yearly Renewable Term (Itt Hartford Life & Annuity Insurance Co Separate Acct Vl Ii)