Waiver of Premium Disability Benefits. The Ceding Company will only reinsure the Waiver of Premium Disability with the Reinsurer when the annual premium to be waived is over $10,000. Same as Life except the amount cannot exceed the maximum Waiver of Premium Benefit described below. The maximum Waiver of Premium benefit issued and applied for is no more than the greater of a) and b), where: a) is the Waiver of Premium Disability benefit associated with $5,000,000 of life insurance, and b) is a Waiver of Premium Disability benefit which initially waives $75,000 in annual premiums or charges.
Appears in 3 contracts
Samples: Automatic and Facultative Yrt Reinsurance Agreement (Jackson National Separate Account Iv), Automatic and Facultative Yrt Reinsurance Agreement (Jackson National Separate Account Iv), Automatic and Facultative Yrt Reinsurance Agreement (Jackson National Separate Account Iv)
