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. MARC Munich Re Group
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Samples: Nationwide VL Separate Account-G
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. MARC Treaty #4345 Munich Re GroupAmerican Reassurance Company P a g e | 14
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Samples: Automatic and Facultative Yrt (Penn Mutual Variable Life Account I)
Reduced Paid-up. If the original policy Policy lapses and reduced paid-up insurance 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. MARC Treaty # 4347 Munich Re GroupAmerican Reassurance Company P a g e | 16
Appears in 1 contract
Samples: Nationwide VL Separate Account-G
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. MARC Treaty #4424 Munich Re GroupAmerican Reassurance Company Page | 17
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