REDUCTIONS IN INSURANCE Sample Clauses
The "Reductions in Insurance" clause defines the circumstances under which the amount of insurance coverage may be decreased during the term of an agreement. This clause typically outlines specific events or milestones—such as the completion of certain project phases, reduction in risk exposure, or partial fulfillment of contractual obligations—that justify lowering the required insurance limits. By providing a clear mechanism for adjusting insurance requirements, the clause ensures that coverage remains appropriate to the actual level of risk, preventing unnecessary costs for the insured party while maintaining adequate protection for all stakeholders.
REDUCTIONS IN INSURANCE. If individual life insurance on a life reinsured under this Agreement terminates, the Reinsurance Amount shall be reduced as specified in the Administration Schedule.
REDUCTIONS IN INSURANCE. If life insurance issued by SAFECO on a Policy reduces because that Policy lapses or reduces in accordance with the terms of the Policy, the Reinsurance Amount on that Policy shall be reduced to restore as far as possible the Retention on that Policy as of the effective date of the reduction.
REDUCTIONS IN INSURANCE. For purposes of this section only, the term "Policy" shall refer to any life insurance issued by Security Equity on the insured person, whether or not reinsured with Lincoln.
REDUCTIONS IN INSURANCE. Your insurance will not be reduced because of your age unless your insurance is subject to termination under the Waiver of Premium provision.
REDUCTIONS IN INSURANCE. If individual life insurance on a life reinsured under this Agreement reduces or terminates, the Ceded Amount shall be reduced or terminated as specified in Exhibit 9, Administration Schedule.
REDUCTIONS IN INSURANCE. If individual life insurance on a life reinsured under this Agreement terminates, the Reinsurance Amount shall be reduced as specified in the Administration Schedule. INCREASES IN POLICY NET AMOUNT AT RISK