TERM CONVERSIONS - AMERICAN MAYFLOWER Sample Clauses

TERM CONVERSIONS - AMERICAN MAYFLOWER. Life Re agrees to reinsure on a point-in-scale basis the VEL policies issued as a continuation of term policies originally issued by American Mayflower through the Allmerica Product Network. These continuations shall be administered as conversions of such term insurance to First Allmerica Financial Life Insurance Company's VEL policy except they will be processed as replacements. The VEL policies will not be re-underwritten to the extent that the death benefit does not change. Increases will not be covered under this amendment or this reinsurance agreement.