REINSURANCE CLAIM DEFINITIONS. GMDB AMOUNT means, in accordance with each ANNUITY CONTRACT, the CEDING COMPANY’S contractually determined minimum amount payable on the death of the annuitant. EEB NET AMOUNT AT RISK means, in accordance with each ANNUITY CONTRACT, the CEDING COMPANY’S contractually determined amount in excess of the ACCOUNT VALUE payable upon death of the annuitant in accordance with the ANNUITY CONTRACT.
REINSURANCE CLAIM DEFINITIONS. GMDB AMOUNT means, in accordance with each ANNUITY CONTRACT, the CEDING COMPANY’S contractually determined minimum amount payable on the death of the annuitant. ROP GMDB AMOUNT means, in accordance with each VARIABLE ANNUITY CONTRACT, the CEDING COMPANY’S contractually determined minimum return of premium amount payable on the death of the annuitant. REINSURED GMDB AMOUNT means, for each ACTIVE CONTRACT, the product of the GMDB AMOUNT and the REINSURER’S Quota Share, determined in accordance with Schedule E.
REINSURANCE CLAIM DEFINITIONS. REINSURED NET AMOUNT AT RISK means for each ACTIVE CONTRACT, the CEDING COMPANY’s required payment for the DBER, as described in Schedule A, upon the death of the INSURED LIFE, times the REINSURER’s quota share of risk as shown in Schedule F. REINSURED CLAIM means for each ANNUITY CONTRACT that terminates due to the death of the INSURED LIFE, the REINSURED NET AMOUNT AT RISK. REIMBURSEMENT DATE means the last BUSINESS DAY of the calendar month following the month that the REINSURER receives a request for claim reimbursement from the CEDING COMPANY. AGGREGATE CLAIM means the sum of all REINSURED CLAIMS calculated on each MONTHLY VALUATION DATE.
REINSURANCE CLAIM DEFINITIONS. GMDB CLAIM: The excess of the REINSURED GMDB AMOUNT over the REINSURED ACCOUNT VALUE, if a positive value, on the date that CEDING COMPANY calculates the GMDB under the terms of the applicable CONTRACT TYPE. AGGREGATE GMDB CLAIM: The sum of all GMDB CLAIMS calculated on the TERMINATION DATE.
REINSURANCE CLAIM DEFINITIONS. ADJUSTED GMIB CLAIM means, for each ACTIVE CONTRACT that terminates through a GMIB EXERCISE, a calculated value in accordance with the formula provided in Schedule I. REIMBURSEMENT DATE means the last BUSINESS DAY of the calendar month following the month that the REINSURER receives a request for claim reimbursement from the CEDING COMPANY. For each calendar year, ANNUAL GMIB CLAIMS means the sum of all ADJUSTED GMIB CLAIMS calculated on each MONTHLY VALUATION DATE. ANNUAL CLAIM LIMIT RATE means the value provided in Schedule E for each CONTRACT TYPE and GMIB TYPE combination. ELIGIBLE ACTIVE CONTRACTS means ACTIVE CONTRACTS that are eligible to annuitize in accordance with the associated GMIB TYPE during any calendar year. For each calendar year, ELIGIBLE REINSURED INCOME BASE means the sum of the REINSURED GMIB INCOME BASE under ELIGIBLE ACTIVE CONTRACTS on the contract anniversary of each ELIGIBLE ACTIVE CONTRACT that occurs in that calendar year. For each calendar year, ANNUAL CLAIM LIMIT means the ANNUAL CLAIM LIMIT RATE times the ELIGIBLE REINSURED INCOME BASE.
