RETURN OF REINSURANCE PREMIUM. If a misrepresentation or misstatement on an application or a death of an insured by suicide results in the Ceding Company returning the policy premiums to the policy owner rather than paying the policy benefits, the Reinsurer will refund all of the reinsurance premiums it received on that policy to the Ceding Company, without interest. This refund given by the Reinsurer will be in lieu of all other reinsurance benefits payable on that policy under this Agreement. If there is an adjustment to the policy benefits due to a misrepresentation or misstatement of age or sex, a corresponding adjustment will be made to the reinsurance benefits.
Appears in 7 contracts
Samples: Yearly Renewable Term Reinsurance Agreement (American National Variable Life Separate Account), Automatic and Facultative Yearly Renewable Term Reinsurance Agreement (National Variable Life Insurance Account), Automatic and Facultative Yearly Renewable Term Reinsurance Agreement (National Variable Life Insurance Account)
RETURN OF REINSURANCE PREMIUM. If a misrepresentation or misstatement on an application or a death of an insured by suicide results in the Ceding Company returning the policy premiums to the policy owner rather than paying pay the policy benefits, the Reinsurer will refund all of the reinsurance premiums it received on that policy to the Ceding Company, without interest. This refund given by the Reinsurer will be in lieu of all other reinsurance benefits payable on that policy under this Agreement. If there is an adjustment to the policy benefits due to a misrepresentation or misstatement of age or sex, a corresponding adjustment will be made to the reinsurance benefits.
Appears in 5 contracts
Samples: Reinsurance Agreement (Ge Life & Annuity Assurance Co Ii), Reinsurance Agreement (Ge Life & Annuity Assurance Co Ii), Reinsurance Agreement (Ge Life & Annuity Assurance Co Ii)
RETURN OF REINSURANCE PREMIUM. If a misrepresentation or misstatement on an application or a death of an insured by suicide results in the Ceding Company returning the policy premiums to the policy owner rather than paying pay the policy benefits, the Reinsurer will refund all of the reinsurance premiums it received on that policy to the Ceding Company, without interest. This refund given by the Reinsurer will be in lieu of all other reinsurance benefits payable on that policy under this Agreement. If there is an adjustment to the policy benefits due to a misrepresentation or misstatement of age or sex, a corresponding adjustment will be made to the reinsurance benefits.
Appears in 2 contracts
Samples: Automatic and Facultative Yearly Renewable Term Reinsurance Agreement (National Variable Life Insurance Account), Automatic and Facultative Yearly Renewable Term Reinsurance Agreement (Mony America Variable Account L)
RETURN OF REINSURANCE PREMIUM. If a misrepresentation or misstatement on an application or a death of an insured by suicide results in the Ceding Company returning the policy premiums to the policy owner rather than paying pay the policy benefits, the Reinsurer will refund all of the reinsurance premiums it received on that policy to the Ceding Company, without interest. This refund given by the Reinsurer will be in lieu of all other reinsurance benefits payable on that policy under this Agreement. If there is an adjustment to the policy benefits due to a misrepresentation or misstatement misstate- ment of age or sex, a corresponding adjustment will be made to the reinsurance benefits.
Appears in 1 contract
Samples: Automatic and Facultative Yearly Renewable Term Reinsurance Agreement (Carillon Life Account)
