Converted Policies definition

Converted Policies means any life insurance policies that were or are insured, managed or reinsured by Accordia, its parent, or any affiliated companies and were transferred for administration to Alliance-One’s policy administration system on or around either August 1, 2015 (Wave 1) or January 1, 2016 (Wave 2).

Converted Policies means any life insurance policies that were or are insured, managed or reinsured by Accordia, its parent, or any affiliated companies and were converted or scheduled to be converted to Alliance-One’s administrative systems on or around either August 1, 2015 (“Wave 1 Converted Policies”) or January 1, 2016 (“Wave 2 Converted Policies”) to be administered by Alliance-One. This does not include policies administered or reinsured by Accordia or its affiliates that were issued by a company other than Accordia, Athene, or either of their affiliates, subsidiaries, predecessors or assigns.

Converted Policies. Business shall mean the business relating to the Old Version Policies which, for conversion purposes, shall be treated as surrenders or withdrawals first so that they can be converted on a favorable term, using the actual benefits received from such surrenders or withdrawals as single payment premium for products that have their terms approved by or filed with the CIRC on or after June 10, 1999.

Examples of Converted Policies in a sentence

• If we issued this Policy as the conversion of two or more older Fidelity Investments Life Insurance Company term life insurance policies ("Converted Policies") on the lives of the Insureds, we will use the lowest Face Amount and the most recent Issue Date from among the Converted Policies as the Issue Date and original Face Amount of this Policy for purposes of the incontestability and suicide provisions in this section.

• Any Premiums, including and Back Premium Payments, owed will be deducted from any valid death benefit.• Defendants are conducting, through the outside neutral third party Ernst & Young, an Independent Policy Testing Plan, of the Converted Policies designed to ensure the all Conversion-Related Issues have been addressed.

• Defendants will enhance the level of detail in commission statements for Converted Policies to more closely match the level of detail in commission statements for New Business Polices.

• If we issued this Policy as the conversion of two or more older Empire Fidelity Investments Life Insurance Company term life insurance policies ("Converted Policies") on the lives of the Insureds, we will use the lowest Face Amount and the most recent Issue Date from among the Converted Policies as the Issue Date and original Face Amount of this Policy for purposes of the incontestability and suicide provisions in this section.

• The Settlement Class Period begins on one of three dates: (i) May 1, 2014 (the date Accordia began issuing new policies) for agents associated with New Business Policies; (ii) August 1, 2015 for agents associated with Converted Policies converted to the Alliance-One system during Wave 1; and (iii) January 1, 2016 for agents associated with Converted Policies converted during Wave 2.

More Definitions of Converted Policies

Converted Policies. Business shall mean the business relating to the Old Version Policies which, for conversion purposes, shall be treated as surrenders or withdrawals first so that they can be converted on a favorable term, using the actual benefits received from such surrenders or withdrawals as single payment premium for products that have their terms approved by or filed with the CIRC on or after June 10, 1999. Non-transferred policies shall mean all the policies that are insured or reinsured by Party A, including stand-alone policies and riders supplemental to policies, which are still performing or are not being performed but can be reinstated and are other than Transferred Policies (as defined in the Restructuring Agreement).