Waiver of Premium Claims. If Waiver of Premium (W.P.) is a reinsured benefit on any Reinsured Policy covered by this Agreement and there is a claim in effect with respect to a Reinsured Policy when recapture takes place, the W.P. claim will stay in effect and the Reinsurer will continue to pay to the Company its proportionate share of the annual amount waived by the Company on that Reinsured Policy, until such claim terminates. During such period, the Reinsurer will not be liable for any other benefits with respect to the Reinsured Policy, including the basic life risk, which are eligible for recapture. All eligible benefits will be recaptured as if there was no W.P. claim.
Appears in 3 contracts
Samples: Reinsurance Agreement (Ameritas Variable Separate Account V), Reinsurance Agreement (Allstate Life of N Y Var Life Sep Acct A), Reinsurance Agreement (Allstate Assurance Co Variable Life Separate Account)
Waiver of Premium Claims. If Waiver of Premium (W.P.) is a reinsured benefit on any Reinsured Policy covered by this Agreement and there is a W.P. claim in effect with respect to a Reinsured Policy when recapture takes place, the W.P. claim will stay in effect and the Reinsurer will continue to pay to the Company its proportionate share of the annual amount waived by the Company on that Reinsured Policy, W.P. claim until such claim terminates. During such period, the Reinsurer will not be liable for any other benefits with respect to the Reinsured Policy, including the basic life risk, which are eligible for recapture. All eligible benefits will be recaptured as if there was no W.P. claim.
Appears in 3 contracts
Samples: Reinsurance Agreement (Thrivent Variable Life Account I), Reinsurance Agreement (Thrivent Variable Life Account I), Reinsurance Agreement (Ameritas Variable Separate Account V)
Waiver of Premium Claims. If Waiver of Premium (W.P.) is a reinsured benefit on any Reinsured Policy covered by this Agreement and there is a W.P. claim in effect with respect to a Reinsured Policy when recapture takes place, the W.P. claim will stay in effect and the Reinsurer will continue to pay to the Company its proportionate share of the annual amount waived by the Company on that Reinsured Policy, W.P. claim until such claim terminates. During such period, the Reinsurer will not be liable for any other benefits with respect to the Reinsured Policy, including the basic life risk, which are eligible for recapture. All eligible benefits will be recaptured as if there was no W.P. claim.. 196474US-08 ml 20070727 (ODB#I02020US-08) 11
Appears in 2 contracts
Samples: Reinsurance Agreement (Nationwide VL Separate Account-G), Reinsurance Agreement (Nationwide VL Separate Account-G)
Waiver of Premium Claims. If there is a Waiver of Premium (W.P.) is a reinsured benefit on any Reinsured Policy covered by this Agreement and there is a claim in effect with respect to a Reinsured Policy when recapture takes place, the W.P. claim will stay in effect and the Reinsurer will continue to pay to the Company its proportionate share of the annual amount waived by the Company on that Reinsured Policy, W.P. claim until such claim terminates. During such period, the Reinsurer will not be liable for any other benefits with respect to the Reinsured Policy, including the basic life risk, which are eligible for recapture. All eligible benefits will be recaptured as if there was no W.P. claim.
Appears in 1 contract
Samples: Reinsurance Agreement (Tiaa-Cref Life Separate Account Vli-1)
Waiver of Premium Claims. If Waiver of Premium (W.P.) is a reinsured benefit on any Reinsured Policy covered by this Agreement and there is a W.P. claim in effect with respect to a Reinsured Policy when recapture takes place, the W.P. claim will stay in effect and the Reinsurer will continue to pay to the Company its proportionate share of the annual amount waived by the Company on that Reinsured Policy, W.P. claim until such claim terminates. During such period, the Reinsurer will not be liable for any other benefits with respect to the Reinsured Policy, including the basic life risk, which are eligible for recapture. All eligible benefits will be recaptured as if there was no W.P. claim.. ODB# 103515US-09
Appears in 1 contract
Samples: Automatic Yrt Reinsurance Agreement (First Investors Life Level Premium Variable Lif Ins Sep Ac B)
Waiver of Premium Claims. If Waiver of Premium (W.P.W.F.) is a reinsured benefit on any Reinsured Policy covered by this Agreement and there is a W.P. claim in effect with respect to a Reinsured Policy when recapture takes place, the W.P. claim will stay in effect and the Reinsurer will continue to pay to the Company its proportionate share of the annual amount waived by the Company on that Reinsured Policy, W.P. claim until such claim terminates. During such period, the Reinsurer will not be liable for any other benefits with respect to the Reinsured Policy, including the basic life risk, which are eligible for recapture. All eligible benefits will be recaptured as if there was no W.P. claim.
Appears in 1 contract
Samples: Reinsurance Agreement (Nationwide VLI Separate Account-7)
Waiver of Premium Claims. If Waiver of Premium (W.P.) is a reinsured benefit on any Reinsured Policy covered by this Agreement and there is a claim in effect with respect to a Reinsured Policy when recapture takes place, the W.P. claim will stay in effect and the Reinsurer will continue to pay to the Company its proportionate share of the annual amount waived by the Company on that Reinsured Policy, until such claim terminates. During such period, the Reinsurer will not be liable for any other benefits with respect to the Reinsured Policy, including the basic life risk, which are eligible for recapture. All eligible benefits will be recaptured as if there was no W.P. claim.. 12107058US·19101-01·20191 IOT17346US181
Appears in 1 contract
Samples: Reinsurance Agreement (Thrivent Variable Life Account I)
