REINSURANCE BENEFITS. Except as provided in Section 6.02, the Reinsurer shall be liable for the Reinsurer's Quota Share Percentage of any contractual liabilities payable by the Ceding Company (and any Rider benefits payable by the Ceding Company to contract owners age 90 or older where the Ceding Company has made the Rider election absent any communication from the contract owner) on Business Reinsured hereunder in accordance with the terms and conditions of this Agreement (the "Reinsurance Benefits").
REINSURANCE BENEFITS. 1. Net Benefits are defined as follows:
(a) For an application received on a Policy, or a Policy issued directly by GLENBROOK, net benefits are the actual amounts payable by GLENBROOK to the policyholder, less any amounts payable to GLENBROOK by another reinsurer with respect to the Policy. These payments include death benefits, endowment benefits, annuity benefits, disability benefits, benefits under accident and health policies, surrender benefits and payments on supplementary contracts with and without life contingencies.
(b) For Policies reinsured by GLENBROOK and retroceded under this Agreement, Net Benefits are the actual amounts payable by GLENBROOK to the ceding company with respect to the Policy reinsured by GLENBROOK. These payments will include commissions and expense allowances on reinsurance accepted.
2. With respect to applications received and Policies issued directly or reinsured by GLENBROOK after the Effective Date, ALLSTATE's liability for Net Benefits will begin simultaneously with that of GLENBROOK and will include any liability GLENBROOK may incur as a result of a Temporary Insurance Agreement or Conditional Receipt issued in conjunction with a Policy.
3. ALLSTATE's liability under this Agreement will continue as long as GLENBROOK remains liable on the underlying coverage, and will terminate simultaneously with GLENBROOK's termination of liability.
REINSURANCE BENEFITS. For GMDB Type 1, the Reinsurance Benefit payable by the Reinsurer to the Ceding Company on a contract covered by this Agreement shall be equal to the GMDB Claim, subject to the limits described in Sections 5.02 and 5.03 below.
REINSURANCE BENEFITS. For GMDB Types 1, 2, and 3, the Reinsurance Benefit payable by the Reinsurer to the Ceding Company on a contract covered by this Agreement shall be equal to the greater of the GMDB Claim or the EPB Claim, subject to the limits described in Sections 5.02 and 5.03, below. For GMDB Type 4, 5, and 6, the Reinsurance Benefit payable by the Reinsurer to the Ceding Company on a contract covered by this Agreement shall be equal to the GMDB Claim, subject to the limits described in Sections 5.02 and 5.03 below. Reinsurance Treaty No. GMDB200210 Effective 10/01/2002
REINSURANCE BENEFITS. AXA agrees to reimburse the Company for its quota share of the mortality net amount at risk (i.e., MNAR) realized upon death under the contractual terms of the contracts reinsured, subject to the benefit limitations set forth below. · Death claims shall be reported along with reinsurance premiums and netted from them. A positive net amount will indicate amounts due AXA. A negative net amount will indicate amounts due to the Company. · Election is available after the fifteenth anniversary of this agreement, provided that the total carry-forward is not in a negative position. · The total carry-forward is defined as the sum of the carry-forwards of this agreement and the complimentary GMIB agreement, if any, that reinsures the same Related Contracts. · The carry-forward for each agreement is defined as the current period’s reinsurance premium minus all reinsurance claims paid under this agreement minus a 2.5 basis points annual expense allowance applied against the average aggregate Account Value minus the change in treaty reserves plus last period’s loss carry-forward. The amount is accumulated at the 90-Day Federal Government Treasury Bxxx rate as published in the Wall Street Journal on the first business day of the current period plus 2.0%. · Upon election, recapture shall occur ratably over a 36 month period (i.e., the quota share percentage reduces by 2.78% times the initial quota share reinsured per month). It is irrevocable once elected. · AXA will provide the Company the “formula and mechanism” to determine the loss carry-forward.
REINSURANCE BENEFITS. Each Accounting Period, the Reinsurer will pay to the Ceding Company, pursuant to the Settlement Procedures, an amount equal to the “Reinsurance Benefits” for such Accounting Period which shall be an amount equal the sum of the Modco Benefits and the Coinsurance Benefits for such Accounting Period. The Reinsurance Benefits, including the Modco Benefits and the Coinsurance Benefits, shall not include any amounts excluded from coverage under the terms of this Agreement, including pursuant to Article VI, Section 5.
REINSURANCE BENEFITS. 1. Net benefits are defined as follows: For coverage issued directly by ALLSTATE and reinsured under this Agreement, net benefits are the actual benefits payable by ALLSTATE to insureds, less any amounts payable to ALLSTATE by another reinsurer with respect to the policy. These payments include credit disability and credit hospitalization benefits.
2. With respect to coverage issued directly or reinsured by ALLSTATE after the Effective Date of this Agreement, ALLSTATE LIFE'S liability for net benefits will begin simultaneously with that of ALLSTATE.
3. ALLSTATE LIFE'S liability under this Agreement will continue as long as ALLSTATE remains liable on the underlying coverage, and will terminate simultaneously with ALLSTATE'S termination of liability.
REINSURANCE BENEFITS. 1. Net benefits are defined as follows:
(a) For a policy issued directly by LINCOLN and reinsured under this Agreement, net benefits are the actual amounts payable by LINCOLN to the policyholder, less any amounts payable to LINCOLN by another reinsurer with respect to the policy. These payments include death benefits, endowment benefits, annuity benefits, disability benefits, benefits under A & H policies, coupons, dividends, surrender benefits, payments on supplementary contracts with and without life contingencies, and dividend and coupon accumulations.
(b) For reinsurance accepted by LINCOLN and retroceded under this Agreement, net benefits are the actual amounts payable by LINCOLN to the ceding company with respect to the policy reinsured by LINCOLN. These payments will include commissions and expense allowances on reinsurance accepted.
2. For policies issued directly or for reinsurance accepted by LINCOLN on or prior to the Effective Date of this Agreement, ALLSTATE's liability for net benefits will begin on the first day following the Agreement's Effective Date. This liability will include net benefits incurred on or prior to the Effective Date of this Agreement, but not paid until after the Agreement's Effective Date.
3. For policies issued directly or for reinsurance accepted by LINCOLN after the Effective Date of this Agreement, ALLSTATE's liability for net benefits will begin simultaneously with that of LINCOLN and will include any liability LINCOLN may incur as a result of a Temporary Insurance Agreement or Conditional Receipt issued in conjunction with a policy subject to this Agreement.
4. ALLSTATE's liability under this Agreement will continue as long as LINCOLN remains liable on the underlying coverage, and will terminate simultaneously with LINCOLN's termination of liability.
REINSURANCE BENEFITS. 1. Net Benefits are defined as follows:
(a) For an application received on a Policy, or a Policy issued directly by LBL, net benefits are the actual amounts payable by LBL to the policyholder, less any amounts payable to LBL by another reinsurer with respect to the Policy. These payments include death benefits, endowment benefits, annuity benefits, disability benefits, benefits under accident and health policies, surrender benefits and payments on supplementary contracts with and without life contingencies.
(b) For Policies reinsured by LBL and retroceded under this Agreement, Net Benefits are the actual amounts payable by LBL to the ceding company with respect to the Policy reinsured by LBL. These payments will include commissions and expense allowances on reinsurance accepted.
2. With respect to applications received and Policies issued directly or reinsured by LBL after the Effective Date, ALLSTATE's liability for Net Benefits will begin simultaneously with that of LBL and will include any liability LBL may incur as a result of a Temporary Insurance Agreement or Conditional Receipt issued in conjunction with a Policy.
3. ALLSTATE's liability under this Agreement will continue as long as LBL remains liable on the underlying coverage, and will terminate simultaneously with LBL's termination of liability.
REINSURANCE BENEFITS. 1. Net benefits are defined as follows:
(a) For an application received, or a policy issued directly by GLENBROOK and reinsured under this Agreement, net benefits are the actual amounts payable by GLENBROOK to the policyholder, less any amounts payable to GLENBROOK by another reinsurer with respect to the policy. These payments include, but are not limited to, death benefits, endowment benefits, annuity benefits, disability benefits, benefits under accident and health policies, surrender benefits, and payments on supplemental contracts with and without life contingencies.
(b) For policies reinsured by GLENBROOK and retroceded under this Agreement, net benefits are the actual amounts payable by GLENBROOK to the ceding company with respect to the policy reinsured by GLENBROOK. These payments will include commissions and expense allowances on reinsurance accepted.
2. With respect to applications received, or policies issued directly or reinsured by GLENBROOK, after the Effective Date of this Agreement, ALLSTATE's liability for net benefits will begin simultaneously with that of GLENBROOK and will include any liability GLENBROOK may incur as a result of a Temporary Insurance Agreement or Conditional Receipt issued in conjunction with a policy subject to this Agreement.
3. ALLSTATE's liability under this Agreement will continue as long as GLENBROOK remains liable on the underlying coverage, and will terminate simultaneously with GLENBROOK's termination of liability.
