Common use of REDUCTIONS, TERMINATIONS AND CHANGES Clause in Contracts

REDUCTIONS, TERMINATIONS AND CHANGES. A. Replacement or Change If there is a contractual change, the insurance will continue to be reinsured with the Reinsurer at point-in-scale rates. Exchanges from one single life plan reinsured under this Agreement to a different single life plan will be reinsured at point-in-scale rates. An exchange is a new policy replacing an existing policy where the new policy is not fully underwritten.

REDUCTIONS, TERMINATIONS AND CHANGES. A. Replacement or Change If there is a contractual change, the insurance will continue to be reinsured with the Reinsurer at point-in-scale rates. If an exchange is requested where the death benefit is increased, the Reinsurer must consent to the change. Exchanges from one single life plan reinsured under this Agreement to a different single life plan will be reinsured at point-in-scale rates. An exchange is a new policy replacing an existing policy where the new policy is not fully underwritten.

REDUCTIONS, TERMINATIONS AND CHANGES. A. Replacement or Change If there is a contractual change, the insurance will continue to be reinsured with the Reinsurer at point-in-scale rates. If a change is requested on a facultatively reinsured policy, the Reinsurer must consent to the change if there is an increase in coverage. Exchanges from one single life plan reinsured under this Agreement to a different single life plan will be reinsured at point-in-scale rates. An exchange is a new policy replacing an existing policy where the new policy is not fully underwritten.