POLICYHOLDER SERVICES. The Service Provider shall provide general policyholder services to individuals under the Reinsured Policies, including, but not limited to, the following:
(a) Responding to inquiries with respect to the scope and amounts of coverage or benefits provided under the Reinsured Policies;
(b) Supplying claimants, policyholders, annuitants and insureds with appropriate instructions and forms for reporting claims and for submitting relevant information;
(c) Issuing timely reports, statements, and confirmations as required by the Reinsured Policies and Applicable Law and in accordance with the Company's practices in effect immediately prior to the Effective Date (subject to adjustment as required by Applicable Law);
(d) Timely processing and recording of changes in the Reinsured Policies (such changes may include but are not limited to, (i) changes of ownership, beneficiary, amount of insurance, options under the Reinsured Policies, and (ii) changes in name, changes in address and changes in other data related to the policyholders and insureds under the Reinsured Policies), reissuances, and all financial transactions (e.g. transfer requests, from one subaccount to another), in all cases within time intervals necessary to meet SEC, NASD, and other legal and regulatory requirements;
(e) Processing policy loans, surrenders and reinstatements as required by the Reinsured Policies and Applicable Law and in accordance with the Company's practices in effect immediately prior to the Effective Date (subject to adjustment as required by Applicable Law);
(f) Complying with Company written guidelines, if any, in effect immediately prior to the Effective Date (subject to adjustment as required by Applicable Law) with respect to replacements and exchange requests;
(g) Obtaining (on a daily basis) the net asset value and computing the accumulation unit value of each subaccount of the Separate Accounts that are funding options for the Reinsured Policies in accordance with the provisions of the Reinsured Policies, as well as with the prospectus and statement of additional information disclosure on any day when such calculation is required by the Investment Company Act of 1940, as amended, and the rules and regulations thereunder;
(h) Calculating (on a daily basis) the mortality and expense charges, administrative charges, and (on a monthly basis) cost of insurance in accordance with the provisions of the Reinsured Policies, as well as with the prospectus and statement of additiona...
POLICYHOLDER SERVICES the maintenance of policyholders’ customer relation services and the maintenance of policyholder information, including names, addresses, policy anniversary dates and premiums due;
POLICYHOLDER SERVICES. In accordance with Company procedures, the Administrator shall answer routine policyholder and agent questions to support the client service "800" number. Additionally, the Administrator shall respond to written inquiries regarding particular policies. Requests for address changes, beneficiary changes, title changes, assignments and policy changes shall be processed by the Administrator using Company forms and letters to confirm completion of requests. Requests for policy disbursements, death benefit claims, medical waiver claims and accelerated death benefit claims, shall be processed and forwarded to the Company by the Administrator. These include cancellations and free-look surrenders. Requests for fund transfers shall be processed by the Administrator. This includes, but is not limited to adhoc requests as well as regularly scheduled transfers such as dollar-cost-averaging, Automatic Portfolio Rebalancing and End-of-Free-look period transfers.
POLICYHOLDER SERVICES. (a) OFFSHORE ADMINISTRATOR may provide general policyholder services with respect to the Contracts, including, but not limited to, the following, but excluding any such services if, or to the extent that, licensing as a broker-dealer is required to perform them:
(i) responding to inquiries, including inquiries regarding the scope and amounts of coverage or benefits provided under the Contracts;
(ii) supplying claimants, policyholders, annuitants, beneficiaries, and insureds with appropriate instructions and forms for reporting claims and for submitting relevant information;
(iii) processing and recording changes in the Contracts (including (i) changes of ownership, beneficiary, amount of insurance, and options under the Contracts, and (ii) changes in name, address and other data related to the policyholders and insureds under the Contracts), reissuances, and all financial transactions (E.G., transfer requests from one sub account to another), in all cases within time intervals necessary to meet SEC, NASD, and other applicable legal and regulatory requirements;
(iv) processing policy loans and surrenders;
(v) complying with written guidelines furnished by COMMONWEALTH with respect to replacements and exchange requests; and
(vi) responding to inquires received (whether by, electronic transmission, facsimile, mail or otherwise) from insureds, policyholders, beneficiaries and annuitants or their authorized agents or representatives in accordance with the Applicable Law and industry standards (including adjustments incident to changes in Applicable Law or industry standards).
(b) OFFSHORE ADMINISTRATOR may calculate and assess (on a daily basis) the mortality and expense risk charges and administrative charges, and (on a monthly basis) cost of insurance, in accordance with the provisions of the Contracts, and the prospectus and the statement of additional information disclosure.
(c) OFFSHORE ADMINISTRATOR may obtain (on a daily basis) the net asset value and compute the accumulation unit value of each subaccount of the separate accounts that is a funding option for the Contracts in accordance with the provisions of the Contracts, the prospectus and the statement of additional information disclosure on any day when such calculation is required by the Investment Company Act of 1940.
(d) OFFSHORE ADMINISTRATOR may calculate for COMMONWEALTH, in the manner required by SEC regulations, the performance returns for the Contracts on a monthly, quarterly, and annual bas...
POLICYHOLDER SERVICES. The Administrator shall provide general policyholder services to individuals under the Reinsured Policies, including, but not limited to, the following:
(a) Responding to inquiries with respect to the scope and amounts of coverage provided under the Reinsured Policies;
(b) Supplying claimants, policyowners and insureds with appropriate instructions and forms for reporting claims and for submitting relevant information;
(c) Issuing timely reports, statements, and confirmations as required by the Reinsured Policies or the Seller's practices in effect immediately prior to the Effective Date;
(d) Issuing tax reporting forms and other information as required by applicable regulatory rules;
(e) Processing and recording changes in the Reinsured Policies (such changes may include but are not limited to, (i) changes of ownership, beneficiary, amount of insurance, options under the Reinsured Policies, and (ii) changes in name, changes in address and changes in other data related to the policyowners and insureds under the Reinsured Policies), reissuances, and transfer requests (i.e., from one subaccount to another);
(f) Processing policy loans, surrenders, policy conversions and reinstatements;
(g) Complying with Seller guidelines in effect immediately prior to the Effective Date (subject to adjustment as required by applicable Law) with respect to replacements and exchange requests; and
(h) Calculating (on a daily basis) the mortality and expense charges, administrative charges, and cost of insurance in accordance with the provisions of the Reinsured Policies.
POLICYHOLDER SERVICES. Subject to the AGENCY’s rules, the BROKER will be responsible for the servicing of its Clients who become Company’s policyholders. The BROKER acknowledges and agrees that the Company is obligated by law to deliver statements, invoices, and other notices to its policyholders. As permitted by law, the Company will cooperate with the BROKER in providing the information needed in order to better serve the policyholders. The BROKER will exercise the care, skill and diligence that can reasonably be expected from a competent broker. At all times the BROKER will ensure that all policyholders who purchased a Company policy, or policies acquired by the BROKER will have access to the BROKER for continuous services, until such time as the policies are no longer in force or are transferred to another BROKER. In the event that this Contract terminates or in the event that a policyholder has requested a change of Broker on record, the Company shall contact the BROKER or the AGENCY to find adequate alternative measures. The Company may have to assign the policyholder to another Broker where the law and regulation so provide or the policyholder directs.
POLICYHOLDER SERVICES. (a) SAVERS will be responsible for providing customary general services to individuals under the Policies. The services provided will include the following:
1. responding to inquiries with respect to the scope and amounts of coverage provided under the Policies;
2. supplying claimants, Policyholders, agents and insured individuals with appropriate instructions and forms for reporting claims and submitting relevant information;
3. subject to timely notice by OXFORD to SAVERS, issuing timely notices with respect to any changes in the coverage provided under the Policies, including any endorsements thereto, and any changes in the amounts payable toward premiums with respect to the coverage under the Policies;
4. processing and recording changes in the Policy and endorsements thereto, including any necessary reissue thereof. Such changes may include, but are not limited to, changes of ownership, beneficiary, options under the Policy and endorsements, changes in address and changes in other data related to the Policyholder and persons insured under the Policy and endorsements;
5. issuing timely notices of termination to the Policyholder;
6. providing instructions for completing forms in compliance with administrative procedures.
(b) SAVERS will use forms and supplies, authorized by OXFORD, in the performance of these Policyholder services.
(c) SAVERS will maintain, at its own expense, an accurate information system for use in the administration of the Policies and in the production and supplying of reports and data to OXFORD sufficient for OXFORD to complete all regulatory statements.
(d) SAVERS will utilize the same conservation efforts for the Policies as used by OXFORD for similar OXFORD policies, as such are adopted from time to time, including conservation calls to agents and Policyholders. OXFORD will provide financial information that can be used by SAVERS for conservation efforts.
(e) Perform such other Policyholder services as may be agreed upon in advance by the parties to this Agreement in writing.
POLICYHOLDER SERVICES. OFFSHORE ADMINISTRATOR may provide general policyholder services with respect to the Contracts, including, but not limited to, the following, but excluding any such services if, or to the extent that, licensing as a broker-dealer is required to perform them: (i) responding to inquiries, including inquiries regarding the scope and amounts of coverage or benefits provided under the Contracts; (ii) supplying claimants, policyholders, annuitants, beneficiaries, and insureds with appropriate instructions and forms for reporting claims and for submitting relevant information; (iii) processing and recording changes in the Contracts (including (i) changes of ownership, beneficiary, amount of insurance, and options under the Contracts, and (ii) changes in name, address and other data related to the policyholders and insureds under the Contracts), reissuances, and all financial transactions (E.G., transfer requests from one sub account to another), in all cases within time intervals necessary to meet SEC, NASD, and other applicable legal and regulatory requirements; (iv) processing policy loans and surrenders; (v) complying with written guidelines furnished by COMMONWEALTH with respect to replacements and exchange requests; and G-1 <PAGE> (vi) responding to inquires received (whether by, electronic transmission, facsimile, mail or otherwise) from insureds, policyholders, beneficiaries and annuitants or their authorized agents or representatives in accordance with the Applicable Law and industry standards (including adjustments incident to changes in Applicable Law or industry standards).
POLICYHOLDER SERVICES. FAS shall answer routine policyholder and agent calls to Client Company's "800" number. Additionally, FAS shall respond to written inquiries regarding particular policies. Requests for address changes, beneficiary changes, title changes, assignments and policy changes shall be proceeded at FAS, using Client Company forms and letters to confirm completion of requests. Requests for policy disbursements shall be handled at FAS. These include loans, partial withdrawals, surrenders and exchanges. Client Company shall assist in writing acceptable disbursement procedures and providing company forms and form letters. FAS shall verify the owner's signature for every disbursement. Conservation efforts shall occur at Client Company's Home Office. FAS shall generate and mail the necessary 1099R tax forms for these disbursements and file with the IRS on behalf of Client Company, or provide Client Company with the information needed to do this reporting if they prefer to control the tax reporting.
POLICYHOLDER SERVICES. Subject to MGA rules and contractual arrangements with the CI, the CI, through and by Brokers, will be responsible for the servicing of Clients who become Company’s policyholders. CI acknowledges and agrees that Company is obligated by law to deliver statements, invoices, and other notices to its policyholders. As permitted by law, Company will cooperate with CI and Brokers in providing them with the information needed in order to better serve the policyholders. The CI will take appropriate measures to inform and offer training to Brokers so that they exercise the care, skill and diligence that can reasonably be expected from a competent Broker. At all times, the CI will make reasonable efforts to ensure that all policyholders who purchased a Company policy through the CI, or policies acquired by the CI, have a servicing Broker or access to a Broker for continuous services, until such time as the policies are no longer in force or are transferred to another CI or Broker who is no longer contracted with the CI. As permitted by law, Company will cooperate with CI and Brokers in providing them with the information needed in order to better serve the policyholders. Company will, upon request, provide CI with a list of orphan policies, if any. In the event that this Contract terminates or in the event that a policyholder has requested a change of Broker on record to a Broker not affiliated with the CI, the Company shall contact the CI to find adequate alternative measures. The Company may have to assign the policyholder to another Broker and/or CI where the law and regulation so provide or the policyholder directs.
