POLICY DELIVERY. Insurer may, upon written request of Agency, transmit Traditional Life Insurance Policies to Agency or Broker-Dealer for delivery to Policyowners. Agency and Broker-Dealer hereby agree to deliver all such Traditional Life Insurance Policies to Policyowners within ten (10) days of their receipt by Agency or Broker-Dealer from Insurer. Agency and Broker-Dealer agree to indemnify and hold harmless Insurer for any and all losses caused by Agency's or Broker-Dealer's failure to perform the undertakings described in this paragraph. Agency and Broker-Dealer hereby authorize Insurer to set off any amount it owes Insurer under this paragraph against any and all amounts otherwise payable to Agency or Broker-Dealer by Insurer.
Appears in 4 contracts
Samples: Selling Agreement (Reliastar Bankers Security Life Insurance Co), Selling Agreement (Reliastar Bankers Security Life Insurance Co), Broker Dealer Agency Selling Agreement (Select Life Variable Account)
POLICY DELIVERY. Insurer may, upon written request of Agency, transmit Traditional Life Insurance Policies to Agency or Broker-/Dealer for delivery to Policyowners. Agency and Broker-/Dealer hereby agree to deliver all such Traditional Life Insurance Policies to Policyowners within ten (10) days of their receipt by Agency or Broker-/Dealer from Insurer. Agency and Broker-/Dealer agree to indemnify and hold harmless Insurer for any and all losses caused by Agency's or Broker-/Dealer's failure to perform the undertakings described in this paragraph. Agency and Broker-/Dealer hereby authorize Insurer to set off any amount it owes Insurer under this paragraph against any and all amounts otherwise payable to Agency or Broker-/Dealer by Insurer.
Appears in 1 contract
Samples: Agency Selling Agreement (Reliastar Select Life Variable Account)
