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.
Appears in 4 contracts
Samples: Automatic and Facultative Yrt Reinsurance Agreement (Nationwide VL Separate Account-G), Automatic Yrt Reinsurance Agreement (First Trinity Financial CORP), Automatic Yrt Second Excess Reinsurance Agreement (First Trinity Financial CORP)
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.
Appears in 3 contracts
Samples: Automatic Reinsurance Agreement (Fidelity & Guaranty Life), Automatic Self Administered Yrt Reinsurance Agreement (American National Variable Life Separate Account), Automatic Self Administered Yrt Reinsurance Agreement (American National Variable Life Separate Account)
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.
Appears in 2 contracts
Samples: Reinsurance Agreement (Ameritas Variable Separate Account V), Reinsurance Agreement (Nationwide Vli Separate Account 4)
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.
Appears in 1 contract
Samples: Automatic Excess Yrt and Facultative Reinsurance Agreement (Farm Bureau Life Variable Account)
