Premiums and Allowances. The reinsurance base premium rate shall equal the monthly premium rate set forth in Exhibit D. For technical reasons relating the uncertain status of deficiency reserve requirements by the various state insurance departments, the life reinsurance rate cannot be guaranteed for more than one (1) year. The Guardian reserves the right to increase the reinsurance premiums hereunder on inforce business. However, in no event shall The Guardian increase the reinsurance premium rates to a level in excess of the rates determined by the 1980 CSO mortality table at the maximum valuation rate. The ceding company has the right to recapture at any time any and all policies whenever The Guardian increases its reinsurance premiums for inforce policies above the original schedule of reinsurance premiums or whenever the reinsurance premium on a particular policy exceeds the actual valuation mortality rate used by the ceding company at any future policy duration. The reinsurance premium for the Waiver of Premium benefit shall be the proportionate share of the ceding company’s disability premium less the following percentages of premium discount: 75% in the first year and 10% in renewal years. The reinsurance flat extra premium shall be discounted as follows: (a) On flat extras assessed for more than 5 years the discount shall be 75% in the first year, and 10% in renewal years. (b) On flat extras assessed for 5 years or less the premium discount shall be 10% in all years.
Appears in 4 contracts
Samples: Reinsurance Agreement (Guardian Separate Acct N of the Guardian Ins & Annuity Co), Reinsurance Agreement (Guardian Separate Acct N of the Guardian Ins & Annuity Co), Reinsurance Agreement (Guardian Separate Acct N of the Guardian Ins & Annuity Co)
Premiums and Allowances. The reinsurance base premium rate shall equal the monthly premium rate set forth in Exhibit D. For technical reasons relating the uncertain status of deficiency reserve requirements by the various state insurance departments, the life reinsurance rate cannot be guaranteed for more than one (1) year. The Guardian reserves the right to increase the reinsurance premiums hereunder on inforce business. However, in no event shall The Guardian increase the reinsurance premium rates to a level in excess of the rates determined by the 1980 CSO mortality table at the maximum valuation rate. The ceding company has the right to recapture at any time any and all policies whenever The Guardian increases its reinsurance premiums for inforce policies above the original schedule of reinsurance premiums or whenever the reinsurance premium on a particular policy exceeds the actual valuation mortality rate used by the ceding company at any future policy duration. The reinsurance premium for the Waiver of Premium benefit shall be the proportionate share of the ceding company’s 's disability premium less the following percentages of premium discount: 75% in the first year and 10% in renewal years. The reinsurance flat extra premium shall be discounted as follows:
(a) On flat extras assessed for more than 5 years the discount shall be 75% in the first year, and 10% in renewal years.
(b) On flat extras assessed for 5 years or less the premium discount shall be 10% in all years.
Appears in 4 contracts
Samples: Reinsurance Agreement (Guardian Separate Acct N of the Guardian Ins & Annuity Co), Reinsurance Agreement (Guardian Separate Account K), Reinsurance Agreement (Guardian Separate Account K)
