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.

  • 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 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 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.

  • 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.

  • 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.

  • The Reinsurer will pay the Reinsurance Benefit on a Reinsured Policy under this Agreement whether or not the underlying Claim is contested, compromised, negotiated, or litigated by the Ceding Company, and Claim proofs provided by the Ceding Company in good faith consistent with past practices consistently applied than be accepted and binding on the Reinsurer.

  • 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.

  • 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.

Related to Reinsurance Benefit

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Severance Benefit means the payment of severance compensation as provided in Article III.

  • Primary Social Security Benefit means, with respect to any member, the primary insurance amount

  • Disability Benefit means the benefit set forth in Article 8.

  • Social Security Benefit means the Primary Insurance Amount to which a Participant becomes entitled at age sixty-five (65) under Social Security legislation in effect on the earliest of his Normal Retirement Date, early retirement date or Termination Date.

  • Termination Benefit means the benefit set forth in Article 7.

  • Insurance Amount has the meaning set forth in Section 6.11(c).

  • Social Security Benefits means any social insurance, pension insurance benefits, medical insurance benefits, work-related injury insurance benefits, maternity insurance benefits, unemployment insurance benefits and public housing reserve fund benefits or similar benefits, in each case as required by any applicable Law or contractual arrangements.

  • Pension Benefit means a pension, annuity, gratuity or similar allowance which is payable—

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Relevant Benefits means any pension (including an annuity), lump sum or gratuity given or to be given on retirement or on death, or by virtue of a pension sharing order or provision, or in anticipation of retirement, or, in connection with past service, after retirement or death;

  • Retirement Benefit means the benefit set forth in Article 5.

  • Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • Severance Benefits mean the payment of severance compensation as provided in Section 2.3 herein.

  • Early Retirement Benefit means the retirement benefit payable to a member following early

  • insurance period means a contribution period or an equivalent period;

  • Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.

  • relevant benefit means any benefit specified in paragraph 21(2); and

  • Normal Retirement Benefit means an annual benefit payment in the amount of Sixty-Six Thousand Three Hundred and Seventy-Three Dollars ($66,373.00) for a period of fifteen (15) years.

  • Service benefit means the credit toward retirement benefits as determined by the

  • Disability benefits means any cash payments which are payable to a covered individual for all or part of a period of disability pursuant to P.L.1948, c.110 (C.43:21-25 et al.).

  • Annual Benefit means an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).

  • Termination Benefits means the benefits described in Section 4.1(b).