RETURN OF REINSURANCE PREMIUM. If CEDING COMPANY returns the policy premiums to the policy owner rather than pay the policy benefits, REINSURER will refund all of the reinsurance premiums it received on that policy to CEDING COMPANY, without interest. This refund given by 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 9 contracts
Samples: Automatic and Facultative Reinsurance Agreement (Ids Life Variable Life Separate Account), Automatic and Facultative Reinsurance Agreement (Ids Life of New York Account 8), Automatic and Facultative Reinsurance Agreement (Ids Life Variable Life Separate Account)
RETURN OF REINSURANCE PREMIUM. If CEDING COMPANY returns the policy premiums to the policy owner rather than pay the policy benefits, REINSURER will refund all of the reinsurance premiums it received on that policy to CEDING COMPANY, without interest. This refund given by 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 1 contract
Samples: Ids Life of New York Account 8
