MONTHLY REINSURANCE PREMIUM means the Annuity Premiums payable, with respect to any Contract Form, on behalf of any month.
MONTHLY REINSURANCE PREMIUM means the sum, for all ACTIVE CONTRACTS reinsured under this Agreement, of the product of (i) the MONTHLY REINSURANCE PREMIUM RATE and (ii) the average of (a) the REINSURED ACCOUNT VALUE as of the current month's MONTHLY VALUATION DATE and (b) the REINSURED ACCOUNT VALUE as of the previous month's MONTHLY VALUATION DATE. If this calculation produces a figure smaller than the MINIMUM MONTHLY REINSURANCE PREMIUM, then the MONTHLY REINSURANCE PREMIUM shall be the MINIMUM MONTHLY REINSURANCE PREMIUM. MINIMUM MONTHLY REINSURANCE PREMIUM means[redacted] REINSURANCE PREMIUM DUE DATE means the MONTHLY VALUATION DATE. REMITTANCE DATE means the MONTHLY VALUATION DATE following the REINSURANCE PREMIUM DUE DATE.
MONTHLY REINSURANCE PREMIUM means the sum, for all ACTIVE CONTRACTS reinsured under this Agreement, of the product of (i) the MONTHLY REINSURANCE PREMIUM RATE and (ii) the average of (a) the REINSURED ACCOUNT VALUE as of the current month's MONTHLY VALUATION DATE and (b) the REINSURED ACCOUNT VALUE as of the previous month's MONTHLY VALUATION DATE. If this calculation produces a figure smaller than the MINIMUM MONTHLY REINSURANCE PREMIUM, then the MONTHLY REINSURANCE PREMIUM shall be the MINIMUM MONTHLY REINSURANCE PREMIUM. MINIMUM MONTHLY REINSURANCE PREMIUM means [*].
Examples of MONTHLY REINSURANCE PREMIUM in a sentence
On or before the REMITTANCE DATE, CEDING COMPANY shall forward to REINSURER its statement of account and data requirements as set forth in Schedule F together with its remittance of the MONTHLY REINSURANCE PREMIUM as shown therein, as well as any premium adjustments from the prior period.
MONTHLY REINSURANCE PREMIUM RATE means the REINSURANCE PREMIUM RATE divided by 12.
MONTHLY REINSURANCE PREMIUM means the sum, for all ACTIVE CONTRACTS reinsured under this Agreement, of the product of (i) the MONTHLY REINSURANCE PREMIUM RATE and (ii) the average of (a) the REINSURED ACCOUNT VALUE as of the current month’s MONTHLY VALUATION DATE and (b) the REINSURED ACCOUNT VALUE as of the previous month’s MONTHLY VALUATION DATE.
DRAKE Title: DIRECTOR Title: SVP & CHIEF ACTUARY Date: 7 APRIL 2009 Date MARCH 31, 2009 SCHEDULE C MONTHLY REINSURANCE PREMIUM (Effective as of December 31, 2008) The monthly reinsurance premium payable pursuant to Article V.B. shall be equal to a percentage per month of the ASSET BASE as of the EFFECTIVE DATE in the case of the initial term of this Agreement and as of the applicable RENEWAL DATE in the case of each renewal term of this Agreement.
MONTHLY REINSURANCE PREMIUM RATE means the numerical value provided in Schedule D, for each CONTRACT TYPE and GMDB TYPE.
More Definitions of MONTHLY REINSURANCE PREMIUM
MONTHLY REINSURANCE PREMIUM means the Quota Share of the Contract Value of a Contract times the reinsurance rate then in effect for that Contract. The reinsurance rate is set forth in Schedule III, which may be amended from time to time as set forth in Section 3.7.
MONTHLY REINSURANCE PREMIUM means the sum, for all CONTRACT TYPES and GMIB TYPES, of the REINSURANCE PREMIUM RATE times the MONTHLY INCOME BASE calculated on each MONTHLY VALUATION DATE. REINSURANCE PREMIUM DUE DATE means the MONTHLY VALUATION DATE.
MONTHLY REINSURANCE PREMIUM means the sum, for all ACTIVE CONTRACTS reinsured under this Agreement, of [*]. If this calculation produces a figure smaller than the MINIMUM MONTHLY REINSURANCE PREMIUM, then the MONTHLY REINSURANCE PREMIUM shall be the MINIMUM MONTHLY REINSURANCE PREMIUM. MINIMUM MONTHLY REINSURANCE PREMIUM means $[*]. REINSURANCE PREMIUM DUE DATE means the MONTHLY VALUATION DATE. REMITTANCE DATE means the MONTHLY VALUATION DATE following the REINSURANCE PREMIUM DUE DATE.
MONTHLY REINSURANCE PREMIUM means the sum of a) and b) where a) is the sum, for each ACTIVE CONTRACT covered by this Agreement that did not terminate due to death in the current month, of the product of REINSURANCE PREMIUM RATE times the MORTALITY RATE times the REINSURED NET AMOUNT AT RISK as of the preceding MONTHLY VALUATION DATE, and b) is the sum, for each ACTIVE CONTRACT covered by this Agreement that terminated due to death in the current month, of the product of REINSURANCE PREMIUM RATE times the MORTALITY RATE times the REINSURED NET AMOUNT AT RISK as of the date the GMDB CLAIM is in good order. To the extent multiple beneficiaries are involved in a GMDB CLAIM and fewer than all, but at least one, of the beneficiaries have received a portion of the GMDB AMOUNT from the CEDING COMPANY, the REINSURED NET AMOUNT AT RISK for the purpose of this item b) shall be based on each beneficiary's portion of the GMDB AMOUNT.
MONTHLY REINSURANCE PREMIUM means the amount payable by the Ceding Company to the Reinsurer as calculated in accordance with Article 4 with respect to reinsurance coverage provided for a given month in which the Agreement is in effect. All other definitions in Article 3 remain unchanged. SCHEDULE A, LISTING OF CONTRACT FORMS, is hereby replaced in its entirety with the attached Schedule A. to remove certain Rider Policy Forms which should not have been listed for "GMDB Type 6." This Amendment does not alter, amend or modify the Reinsurance Agreement other than as set forth in this Amendment, and it is subject otherwise to all the terms and conditions of the Reinsurance Agreement together with all Amendments and supplements thereto. HARTFORD LIFE INSURANCE COMPANY & HARTFORD LIFE AND ANNUITY INSURANCE COMPANY By: /s/ Xxxxxxx X. Xxxx Date: April 26, 2005 ------------------------------------------ Name/Title Xxxxxxx X. Xxxx, Vice President Attest: /s/ Xxxxxx X. Xxxxxxxx ------------------------------------------ Name/Title Xxxxxx X. Xxxxxxxx, Assistant Vice President ACE TEMPEST LIFE REINSURANCE LTD. By: /s/ [ILLEGIBLE] Date: April 21, 2005 ------------------------------------------ Name/Title [ILLEGIBLE] President Attest: /s/ Xxxx Xxxxx ------------------------------------------ Name/Title Xxxx Xxxxx, Vice President and Life Actuary GMDB200210, Effective October 1, 2002 Amendment No. 2 SCHEDULE A LISTING OF CONTRACT FORMS Rider policy forms (as listed under each GMDB Type below) and state variations thereof issued with the products Outlook, Core, Access, Plus and Edge covered under the following policy forms (and state variations thereof): "CURRENT" CONTRACT FORMS HL-VA99 LA-VA99 HL-VA00 LA-VA00 XX-XXXXXX00 XX-XXXXXX00 XX-XXXXXX00XX XX-XXXXXX00XX HL-NCDSC98 LA-NCDSC98 HL-NCDSC99PS LA-NCDSC99PS HL-NCDSC98DW LA-NCDSC98DW HL-VAXC99 LA-VAXC99 "2003 GENERATION" CONTRACT FORMS HL-NCDSC03 LA-NCDSC03 HL-ASHARE03 LA-ASHARE03 HL-VAXC03 LA-VAXC03 HL-VA03 LA-VA03 GMDB TYPE 1 (EPB/MAV ON "CURRENT" CONTRACT FORMS -- ISSUE AGES: 0-75) HL-VA00EDB LA-VA00EDB HL-ASHARE00EDB LA-ASHARE00EDB HL-VAXC00EDB-1 LA-VAXC00EDB-1 GMDB TYPE 2 (EPB/MAV ON "2003 GENERATION" CONTRACT FORMS -- ISSUE AGES: 0-75) HL-VAEPBMAV03 LA-VAEPBMAV03 HL-VAPLEPBMAV03 LA-VAPLEPBMAV03 HL-ASHAREEPBMAV03 LA-ASHAREEPBMAV03 GMDB200210, Effective October 1, 2002 Amendment No. 2 GMDB TYPE 3 (EPB/APB ON "2003 GENERATION" CONTRACT FORMS -- ISSUE AGES: 0-75) Upon filing of the riders necessary to launch this benefit, the parties have agreed to...
MONTHLY REINSURANCE PREMIUM. The sum of the MONTHLY REINSURANCE PREMIUM RATE times the greater of the REINSURED MONTHLY GMDB or the REINSURED MONTHLY ACCOUNT VALUE for each ACTIVE CONTRACT covered by the Agreement. Manufacturers Life Insurance Co of N.A. 4 VA GMDB DSL Treaty Effective July 1, 2000 REINSURANCE PREMIUM DUE DATE The MONTHLY REINSURANCE PREMIUM is due date on the MONTHLY VALUATION DATE. REMITTANCE DATE: Thirty (30) days after the REINSURANCE PREMIUM DUE DATE E. REINSURANCE CLAIM DEFINITIONS: GMDB CLAIM: The excess of the REINSURED GMDB AMOUNT over the REINSURED ACCOUNT VALUE, if a positive value, on the date that CEDING COMPANY receives due proof of death. AGGREGATE GMDB CLAIM: The sum of all GMDB CLAIMS calculated on the TERMINATION DATE.
MONTHLY REINSURANCE PREMIUM means the sum of the MONTHLY REINSURANCE PREMIUM RATE times the greater of the REINSURED MONTHLY GMDB or the REINSURED MONTHLY ACCOUNT VALUE for each ACTIVE CONTRACT covered by the Agreement.