Common use of Policy Split Option Riders Clause in Contracts

Policy Split Option Riders. Split Option Rider (R94-PSO and R03-PSO): This rider provides owners of a joint life policy the option to split the policy into single life policies. The split requires underwriting approval and is subject to full evidence of insurability. The split may be unequal, but the sum of the face amounts of the new policies may not exceed the total face amount of the original joint life policy. The resulting single life policies will be treated like new business, ceded in accordance with and subject to the provisions for new business under this AGREEMENT. The CEDING COMPANY pays no reinsurance premium for the rider itself. Regular new business reinsurance premium will apply to the split policy. Enhanced Policy Split Option Rider (R94-EPSO, R96-EPSO and R03-ESO): This rider provides owners of a JLS policy the option to split the policy into single life policies. Evidence of insurability is not required, but the split may be exercised only within 90 days following a change in the Federal Estate Tax Law, as defined in the rider policy form. The face amount of each new policy cannot exceed 50% of the original joint life policy. Enhanced Policy Split Option Rider (R17-ESO): This rider provides owners of a JLS policy the option to split the policy into single life policies. Evidence of insurability is not required, but the split may be exercised within 365 days following an Exchange Event, as defined in the rider policy form. The face amount of each new policy will be an amount up to one-half of the policy’s current eligible coverage. For the Enhanced Policy Split Option Riders described above, the premium on the new policy will be determined as outlined in paragraph D above for contractual exchanges.

Policy Split Option Riders. Split Option Rider (R94-PSO and R03-PSO): This rider provides owners of a joint life policy the option to split the policy into single life policies. The split requires underwriting approval and is subject to full evidence of insurability. The split may be unequal, but the sum of the face amounts of the new policies may not exceed the total face amount of the original joint life policy. The resulting single life policies will be treated like new business, ceded in accordance with and subject to the provisions for new business under this AGREEMENT. The CEDING COMPANY pays no reinsurance premium for the rider itself. Regular new business reinsurance premium will apply to the split policy. Enhanced Policy Split Option Rider (R94-EPSO, R96-EPSO and R03-ESO): This rider provides owners of a JLS policy the option to split the policy into single life policies. Evidence of insurability is not required, but the split may be exercised only within 90 days following a change in the Federal Estate Tax Law, as defined in the rider policy form. The face amount of each new policy cannot exceed 50% of the original joint life policy. Reinsurance for the new individual policies will be reinsured under this AGREEMENT with rates and allowances or pay percentages applicable to the new plans determined using point in scale rates from the original policy issue date. Enhanced Policy Split Option Rider (R17-ESO): This rider provides owners of a JLS policy the option to split the policy into single life policies. Evidence of insurability is not required, but the split may be exercised within 365 days following an Exchange Event, as defined in the rider policy form. The face amount of each new policy will be an amount up to one-half of the policy’s current eligible coverage. For the Enhanced Policy Split Option Riders described above, the premium on Reinsurance for the new policy individual policies will be reinsured under this AGREEMENT with rates and allowances or pay percentages applicable to the new plans determined as outlined using point in paragraph D above for contractual exchangesscale rates from the original policy issue date.

Policy Split Option Riders. Split Option Rider (R94-PSO and R03-PSO): This rider provides owners of a joint life policy the option to split the policy into single life policies. The split requires underwriting approval and is subject to full evidence of insurability. The split may be unequal, but the sum of the face amounts of the new policies may not exceed the total face amount of the original joint life policy. The resulting single life policies will be treated like new business, ceded in accordance with and subject to the provisions for new business under this AGREEMENT. The CEDING COMPANY pays no reinsurance premium for the rider itself. Regular new business reinsurance premium will apply to the split policy. Enhanced Policy Split Option Rider (R94-EPSO, R96-EPSO and R03-ESO): This rider provides owners of a JLS policy the option to split the policy into single life policies. Evidence of insurability is not required, but the split may be exercised only within 90 days following a change in the Federal Estate Tax Law, as defined in the rider policy form. The face amount of each new policy cannot exceed 50% of the original joint life policy. Enhanced Policy Split Option Rider (R17-ESO): This rider provides owners of a JLS policy Reinsurance for the option to split the policy into single life policies. Evidence of insurability is not required, but the split may be exercised within 365 days following an Exchange Event, as defined in the rider policy form. The face amount of each new policy individual policies will be an amount up reinsured under this AGREEMENT with rates and allowances or pay percentages applicable to one-half of the policy’s current eligible coverage. For the Enhanced Policy Split Option Riders described above, the premium on the new plans determined using point in scale rates from the original policy will be determined as outlined in paragraph D above for contractual exchangesissue date.

Policy Split Option Riders. Split Option Rider (R94-PSO and R03-PSO): This rider provides owners of a joint life policy the option to split the policy into single life policies. The split requires underwriting approval and is subject to full evidence of insurability. The split may be unequal, but the sum of the face amounts of the new policies may not exceed the total face amount of the original joint life policy. The resulting single life policies will be treated like new business, ceded in accordance with and subject to the provisions for new business under this AGREEMENT. The CEDING COMPANY pays no reinsurance premium for the rider itself. Regular new business reinsurance premium will apply to the split policy. Enhanced Policy Split Option Rider (R94-EPSO, R96-EPSO and R03-ESO): This rider provides owners of a JLS policy the option to split the policy into single life policies. Evidence of insurability is not required, but the split may be exercised only within 90 days following a change in the Federal Estate Tax Law, as defined in the rider policy form. The face amount of each new policy cannot exceed 50% of the original joint life policy. Enhanced Policy Split Option Rider (R17-ESO): This rider provides owners of a JLS policy the option to split the policy into single life policies. Evidence of insurability is not required, but the split may be exercised only within 365 days following an Exchange Event, as defined in the rider policy form. The face amount of each new policy will be an amount up to one-half of the policy’s current eligible coverage. For the Enhanced Policy Split Option Riders described above, the premium on the new policy will be determined as outlined in paragraph D above for contractual exchanges.

Policy Split Option Riders. Split Option Rider (R94-PSO and R03-PSO): This rider provides owners of a joint life policy the option to split the policy into single life policies. The split requires underwriting approval and is subject to full evidence of insurability. The split may be unequal, but the sum of the face amounts of the new policies may not exceed the total face amount of the original joint life policy. The resulting single life policies will be treated like new business, ceded in accordance with and subject to the provisions for new business under this AGREEMENT. The CEDING COMPANY pays no reinsurance premium for the rider itself. Regular new business reinsurance premium will apply to the split policy. Enhanced Policy Split Option Rider (R94-EPSO, R96-EPSO and R03-ESO): This rider provides owners of a JLS policy the option to split the policy into single life policies. Evidence of insurability is not required, but the split may be exercised only within 90 days following a change in the Federal Estate Tax Law, as defined in the rider policy form. The face amount of each new policy cannot exceed 50% of the original joint life policy. Premiums will be on a point-in-scale basis on the single lives. Enhanced Policy Split Option Rider (R17-ESO): This rider provides owners of a JLS policy the option to split the policy into single life policies. Evidence of insurability is not required, but the split may be exercised within 365 days following an Exchange Event, as defined in the rider policy form. The face amount of each new policy will be an amount up to one-half of the policy’s current eligible coverage. For the Enhanced Policy Split Option Riders described above, the The premium on the new policy will be determined as outlined in paragraph D above for contractual exchanges.