Reinsurance Benefit definition

Reinsurance Benefit means the amount calculated in accordance with Article 5 for which the Reinsurer is liable under Contract Forms reinsured hereunder.
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Examples of Reinsurance Benefit in a sentence

  • The maximum Reinsurance Benefit payable to the Ceding Company under each Covered Policy is the Reinsured Net Amount at Risk for each Benefit.

  • If the Contract Value equals or exceeds such present value, there is no Reinsurance Benefit.

  • For GMDB Types 1, 2, and 3, the Reinsurance Benefit payable by the Reinsurer to the Ceding Company on a contract covered by this Agreement shall be equal to the greater of the GMDB Claim or the EPB Claim, subject to the limits described in Sections 5.02 and 5.03, below.

  • For GMDB Type 4, 5, and 6, the Reinsurance Benefit payable by the Reinsurer to the Ceding Company on a contract covered by this Agreement shall be equal to the GMDB Claim, subject to the limits described in Sections 5.02 and 5.03 below.

  • For GMDB Type 1, the Reinsurance Benefit payable by the Reinsurer to the Ceding Company on a contract covered by this Agreement shall be equal to the GMDB Claim, subject to the limits described in Sections 5.02 and 5.03 below.

  • Notwithstanding Section 6.01, if the contract owner elects the Fixed Payout Option as provided for in the Rider or if the Ceding Company elects such Fixed Payout Option for contract owners age 90 or older, the Reinsurance Benefit will be determined as follows: a.

  • If the Contract Value is less than such present value, the Reinsurance Benefit will be the Reinsurer's Quota Share Percentage of the excess of the present value, as determined in Paragraph a, over the Contract Value.

  • For GMDB Type 1, the Reinsurance Benefit payable by the Reinsurer to the Ceding Companyon a contract covered by this Agreement shall be equal to the GMDB Claim, subject to the limits described in Sections 5.02 and 5.03 below.

  • If the Ceding Company returns premium to the Reinsured Policy owner or beneficiary as a result of misrepresentation or suicide of the insured, the Reinsurer will refund reinsurance premium less allowances received on that Reinsured Policy to the Ceding Company in lieu of any other form of Reinsurance Benefit payable under this Agreement.

  • Automatic 8A Basis of Reinsurance - Facultative 8F Mode of Ceding 8 Plan of Reinsurance 8 Premium Accounting 8 Exhibits Ceding Company Retention Limits at Inception A Self-Administered Bulk Reporting B Reinsurance Premiums C Reinsurance Benefit Amounts D Replacements and Conversions E Cession Form F Exchange Rates G GENERAL PROVISIONS PARTIES TO THE AGREEMENT: Ceding Company and Cologne.