Policy Fees. The Reinsurer will not participate in any policy fees.
Policy Fees. All special fees, policy fees or charges or expense constants charged in addition to premium on policies or endorsements are to be regarded as fully earned at the time of the inception of the policy or endorsement. The obligation of Producer to pay such amounts shall be the same as if they were premiums, except that no commission will be allowed upon such amounts unless specifically authorized by InsureZone in writing.
Policy Fees. No policy fees shall be paid under this Agreement [page break] [page break] [page break] [page break] [page break] [page break] [page break] Reinsurance shall be on a self-administered by the Reinsured. The Reinsured shall maintain up-to-date records on business reinsured under the agreement sufficient for reporting new issues, renewals, deaths, lapses and other adjustments on each reinsured policy or rider and shall provide reports to the Reinsurer subsequent to the close of each month. The reports shall consist of sufficient detail for the Reinsurer to determine its amount risk on reinsured policies and riders and to verify reinsurance premiums. Reports provided shall be the following: New business and change reports shall be provided to the Reinsurer on a bordereau basis and include the following items: Policy Number Joint life information Name of the insured Policy face amount Sex Reinsurance amount(s) issued Date of Birth Retained amount Issue Age Reinsurance net amount at risk Policy Date Death benefit option Policy year Reinsurance premiums (first year and renewal) Policy Duration Reinsurance commission or allowances Transaction type* Policy fee Transaction effective date Premium taxes reimbursed Table rating Cash values reimbursed Flat extra amount and duration Dividends reimbursed Plan name or code Net amount due the Reinsurer or the Reinsured Underwriting classification *Transaction codes may be used to identify policy activity affecting reinsurance including new reinsurance issued, continuation of coverage, and policy movements or changes such as: Not takens Decrease in amount Surrender Cancellation of reinsurance Lapse Recapture Reinstatement Death Conversion Expiry Exchange Other changes Increase in amount [page break] Summary reports shall be provided to the Reinsured which include appropriate subtotals and totals of premiums, commissions and allowances, and premium tax by reporting category and in total. Policy exhibit summaries shall also be provided to the Reinsured showing the reinsured amounts at the beginning of the reporting period, any increases, decreases and terminations during the reporting period, and the reinsured amounts at the end of the reporting period.
Policy Fees. No policy fees shall be paid under this Agreement. [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] . [page break] [table deleted] [page break] Section 1.848-2(g) (8) Election The Reinsured and the Reinsurer hereby agree to the following pursuant to Section 1.8482(g)(8) of the Income Tax Regulations issued December 1992, under Section 848 of the Internal Revenue Code of 1986, as amended. This election shall be effective for 1998 and for all subsequent taxable years for which this Agreement remains in effect.
1. The term “party” shall refer to either the Reinsured or the Reinsurer as appropriate.
2. The terms used in this Article are defined by reference to Regulation Section 1.848-2 in effect December 1992.
3. The party with the net positive consideration (or gross premiums and other consideration as applicable) for this Agreement for each taxable year shall capitalize specified policy acquisition expenses with respect to this Agreement without regard to the general deductions limitation of Section 848(c)(1).
4. Both parties agree to exchange information pertaining to the amount of net consideration under this Agreement each year to ensure consistency or as otherwise required by the Internal Revenue Service.
Policy Fees. Policy fees, if any, are as shown in Schedule I.
Policy Fees. No Policy fees shall be paid under this Agreement.
Policy Fees. Munich Re, U.S. (Life) will not participate in any policy fees.
Policy Fees. MARC will not participate in any policy fees.
Policy Fees. No policy fees shall be paid under this Agreement. [page break] Issue Age 41 - 80, Policy Years 1-20 [table deleted] [page break] Issue Age 41 - 80, Policy Years 1-20 [table deleted] [page break] Issue Age 81 - 90, Policy Years 1-20 [table deleted] [page break]
Policy Fees. 16.1 In addition to the Premium charged by Underwriters, We may make an additional charge. Any charges will be advised to You at the time of quotation.
