Common use of Reduced Paid-up Clause in Contracts

Reduced Paid-up. If the original policy lapses and reduced paid-up insurance is elected under the terms of the policy, the amount reinsured will be reduced. Reinsurance will be reduced by the full amount of the reduction. The reinsurance premiums will be calculated in the same manner as reinsurance premiums were calculated on the original policy. If the amount of reduction exceeds the risk amount reinsured, the reinsurance on the policy will be terminated.

Reduced Paid-up. If the original policy lapses and reduced paid-up insurance is elected under the terms of the policy, the amount reinsured will be reduced. Reinsurance The amount reinsured and the amount retained will be reduced by the full amount of the reductionproportionately. The reinsurance premiums will be calculated in the same manner as reinsurance premiums were calculated on the original policy. If the amount of reduction exceeds the risk amount reinsured, the reinsurance on the policy will be terminated.

Reduced Paid-up. If the original policy lapses and reduced paid-up insurance is elected under the terms of the policy, the amount reinsured will be reduced. Reinsurance will be reduced by MARC’s share of the full amount of the reduction. The reinsurance premiums will be calculated in the same manner as reinsurance premiums were calculated on the original policy. If the amount of reduction exceeds the risk amount reinsured, the reinsurance on the policy will be terminated.

Reduced Paid-up. If the original policy lapses and reduced paid-up insurance is elected under the terms of the policy, the amount reinsured will be reduced. Reinsurance If reinsurance is on an excess basis, reinsurance will be reduced by the full amount of the reduction. If the amount of reduction exceeds the risk amount reinsured, the reinsurance on the policy will be terminated. If reinsurance is on a Quota Share basis, the amount reinsured and the amount retained will be reduced proportionately. The reinsurance premiums will be calculated in the same manner as reinsurance premiums were calculated on the original policy. If the amount of reduction exceeds the risk amount reinsured, the reinsurance on the policy will be terminated.

Reduced Paid-up. If the original policy lapses and reduced paid-up insurance is elected under the terms of the policy, the amount reinsured will be reduced. Reinsurance For policies reinsured on an excess basis, reinsurance will be reduced by the full amount of the reduction. If the amount of reduction exceeds the risk amount reinsured, the reinsurance on the policy will be terminated. For all other policies, the reinsurance will be decreased on a proportional basis. The reinsurance premiums will be calculated in the same manner as reinsurance premiums were calculated on the original policy. If the amount of reduction exceeds the risk amount reinsured, the reinsurance on the policy will be terminated.

Reduced Paid-up. If the original policy Policy lapses and reduced paid-up insurance is elected under the terms of the policyPolicy, the amount reinsured will shall be reduced. Reinsurance will shall be reduced by the full amount of the reduction. The reinsurance premiums will shall be calculated in the same manner as reinsurance premiums were calculated on the original policyPolicy. If the amount of reduction exceeds the risk amount reinsured, the reinsurance on the policy will Policy shall be terminated.