Risk Classification Changes. If the insured requests a table rating reduction, removal of a flat extra premium charge, or other risk classification change, such change shall be underwritten according to the Company’s normal underwriting practices. Risk classification changes on facultative Policies shall be subject to the Reinsurer’s or facultative underwriting Designee’s approval. Any reinsurance coverage shall be adjusted accordingly.
Appears in 3 contracts
Sources: Reinsurance Agreement, Modified Coinsurance Reinsurance Agreement (John Hancock Life Insurance Co (Usa) Separate Account A), Reinsurance Agreement (John Hancock Life Insurance Co (Usa) Separate Account A)
Risk Classification Changes. If the insured requests a table rating reduction, reduction or removal of a flat extra premium charge, or other risk classification change, such change shall be underwritten according to the Company’s normal underwriting practices. Risk classification changes on facultative Facultative Policies shall be subject to the Reinsurer’s or facultative underwriting Designee’s approval. Any reinsurance coverage shall be adjusted accordingly.
Appears in 2 contracts
Sources: Reinsurance Agreement (Nationwide VL Separate Account-G), Reinsurance Agreement (Nationwide VLI Separate Account-7)
Risk Classification Changes. If the insured requests a table rating reduction, reduction or removal of a flat extra premium charge, or other risk classification change, such change shall be underwritten according to the Company’s 's normal underwriting practices. Risk classification changes on facultative Policies shall be subject to the Reinsurer’s 's or facultative underwriting Designee’s 's approval. Any reinsurance coverage shall be adjusted accordingly.
Appears in 1 contract
Sources: Reinsurance Agreement (Nationwide VL Separate Account-G)
Risk Classification Changes. If the insured Policyholder requests a table rating reduction, removal of a flat extra premium charge, or other risk classification change, the Company shall underwrite such change shall be underwritten according to the Company’s normal underwriting practicesin compliance with its Underwriting Guidelines. Risk classification changes on facultative Policies shall will be subject to the Reinsurer’s or facultative underwriting Designee’s prior written approval. Any Upon a change of risk classification, the Company shall determine the reinsurance coverage premium for the Policy using point-in-scale reinsurance premium rates at the revised underwriting classification. The Reinsurer shall be adjusted accordinglyrefund unearned reinsurance premium paid by the Company prior to the change of risk classification.
Appears in 1 contract
Sources: Reinsurance Agreement (Ameritas Variable Separate Account V)