Nonforfeiture Benefits. Nonforfeiture benefits are not applicable to policies reinsured under this Agreement. IDSL-NY Succession Select Treaty
Nonforfeiture Benefits. Life Re will not participate in nonforfeiture benefits.
Nonforfeiture Benefits. If the original policy lapses and extended term insurance or reduced paid-up insurance is granted under the terms of the policy, the Reinsurer, upon notification of such change, will proportionately adjust the amount of reinsurance and accept appropriately adjusted reinsurance premiums calculated in the same manner as reinsurance premiums were calculated on the original policy. However, the Reinsurer shall not provide coverage for extended term insurance on policies originally issued at substandard ratings greater than 150% of standard or the equivalent in flat extra premium unless the Reinsurer specifically agrees in advance to do so.
Nonforfeiture Benefits. The Reinsurer will not participate in nonforfeiture benefits.
Nonforfeiture Benefits. 9 ARTICLE 8 - CONVERSIONS, EXCHANGES, AND REPLACEMENTS.............................................................10
Nonforfeiture Benefits. (A) EXTENDED TERM If the original policy lapses and extended term insurance is elected under the terms of the policy, reinsurance will continue on the same basis as under the original policy until the expiry of the extended term period.
Nonforfeiture Benefits. Reduced paid-up will be treated as a reduction in ---------------------- accordance with Paragraph 2 above. Extended term will be continued on a basis proportionate to the reinsurance risk before the extended term option was effected. Approximations and methods to simplify handling may be agreed upon by the Life Company and SWLIC.
Nonforfeiture Benefits. Life Re will participate in the mortality risks associated with nonforfeiture benefits under whole life policies at the rates set forth in Schedule C.
Nonforfeiture Benefits. Nonforfeiture benefits are not applicable to policies reinsured under this Agreement. IDS VUL JLLS Generic Master Treaty
Nonforfeiture Benefits. Life Re will not participate in nonforfeiture benefits. ARTICLE VII - DAC TAX Life Re and the Company hereby agree to the following pursuant to Section 1.848-2(g)(8) of the Income Tax Regulation under Section 848 of the Internal Revenue Code of 1986, as amended.
(a) The term "party" will refer to either Life Re or the Company as appropriate.
(b) The terms used in this Article are defined by reference to Regulation 1.848-2. The term "net consideration" will refer to either net consideration as defined in Regulation Section 1.848-2(f) or gross amount of premiums and other consideration as defined in Regulation Section 1.848-3(b) as appropriate.
(c) Each party shall attach a schedule to its federal income tax return which identifies the relevant Reinsurance Agreements for which the joint election under the Regulation has been made.
(d) The party with net positive consideration, as defined in the Regulation promulgated under Code Section 848, for such Agreement for each taxable year, shall capitalize specified policy acquisition expenses with respect to such Agreement without regard to the general deductions limitation of Section 848(c)(1).
(e) Each party agrees to exchange information pertaining to the amount of net consideration under such Agreement each year to ensure consistency.
