Common use of REINSURANCE BENEFITS Clause in Contracts

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. 1. Net Benefits benefits are defined as follows: (a) For an application received on a Policy, or a Policy policy issued directly by GLENBROOKNORTHBROOK and reinsured under this Agreement, net benefits are the actual amounts payable by GLENBROOK NORTHBROOK to the policyholder, less any amounts payable to GLENBROOK NORTHBROOK by another reinsurer with respect to the Policypolicy. These payments include death benefits, endowment benefits, annuity benefits, disability benefits, benefits under accident and health A & H policies, surrender benefits and payments on supplementary contracts with and without life contingencies. (b) For Policies policies reinsured by GLENBROOK NORTHBROOK and retroceded under this Agreement, Net Benefits net benefits are the actual amounts payable by GLENBROOK NORTHBROOK to the ceding company with respect to the Policy policy reinsured by GLENBROOKNORTHBROOK. These payments will include commissions and expense allowances on reinsurance accepted. 2. With respect to applications received and Policies policies issued directly or reinsured by GLENBROOK after NORTHBROOK on or prior to the Effective DateDate of this Agreement, ALLSTATE's liability for Net Benefits 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. With respect to policies issued directly or reinsured by NORTHBROOK after the Effective Date of this Agreement, ALLSTATE's liability for net benefits will begin simultaneously with that of GLENBROOK NORTHBROOK and will include any liability GLENBROOK NORTHBROOK may incur as a result of a Temporary Insurance Agreement or Conditional Receipt issued in conjunction with a Policypolicy subject to this Agreement. 34. ALLSTATE's liability under this Agreement will continue as long as GLENBROOK NORTHBROOK remains liable on the underlying coverage, and will terminate simultaneously with GLENBROOKNORTHBROOK's termination of liability.