Split Option Rider definition

Split Option Rider. This Rider will be reinsured at no charge until it is exercised. Once exercised, the reinsurance on each resulting single life policy will be a proportionate share equal to the proportionate share reinsured on the original joint policy, provided each life is reunderwritten. Reinsurance premiums shall be first year single life rates as reflected on the diskette attached to this Exhibit as Attachment No. 1. Otherwise, point-in-scale reinsurance premiums shall apply.
Sample 1Sample 2Sample 3
Split Option Rider. Any single life policy issued as the result of an exercise of the Split Option Rider would be reinsured at the above rates on a point-in-scale basis. EXACT AGE FORMULA Joint Mortality Rate Formula
Sample 1

Examples of Split Option Rider in a sentence

  • Split Option Rider (R94-PSO and R03-PSO): This rider provides owners of a joint life policy the option to split the policy into single life policies.

  • Enhanced Policy Split Option Rider (R94-EPSO, R96-EPSO and R03-ESO): This rider provides owners of a JLS policy the option to split the policy into single life policies.

  • Enhanced Policy Split Option Rider (R17-ESO): This rider provides owners of a JLS policy the option to split the policy into single life policies.

  • Prior to Invocation, this Rider will not affect the Policy Split Option Rider.

  • After this Rider is invoked, the policy Owner will no longer be eligible for Policy Split Option benefits and the Policy Split Option Rider will terminate.

  • The Policy may contain a Guaranteed Policy Split Option Rider if the Joint Insureds qualify for this option based on our underwriting criteria.

  • It should be noted that some landmarks of different types are distributed at the same location point or share a small area (e.g., 1 square meters).

  • Joint Life riders p) Policy Split Option Rider q) Estate Preservation Rider r) Additional Protection Benefit Rider: New underwriting required.

  • Policy Split Option Rider Premium Cost Recovery for Life of Policy Policy Years Other Survivorship Four Year Level Term Rider Additional Information - These questions apply to the OWNER(S) of the policy.

  • The reinsurance premium rates for the Guaranteed Split Option Rider will be the Annual COI Charges entitled `G', times the following percentages: EXHIBIT II CONTINUES...

Related to Split Option Rider

  • Stock Option Agreement means the agreement between the Company and an Optionee that contains the terms, conditions and restrictions pertaining to his or her Option.

  • 3(i) Option means an Option granted pursuant to Section 3(i) of the Ordinance to any person who is Non- Employee.

  • Share Option Plan means any equity incentive plan of the General Partner, the General Partner Entity, the Partnership and/or any Affiliate of the Partnership.

  • Option Right means the right to purchase Common Shares upon exercise of an option granted pursuant to Section 4 of this Plan.

  • Top-Up Option has the meaning set forth in Section 1.04(a).

  • Stock Option Plan means any stock option plan now or hereafter adopted by the Company or by the Corporation, including the Corporate Incentive Award Plan.

  • Put Option Agreement has the meaning set forth in the recitals.

  • Parent Option means any option to purchase Parent Common Stock which was granted pursuant to a Parent Option Plan.

  • Option Grant Date means, as to any Stock Option, the latest of:

  • Stock Grant Agreement means the agreement between the Company and a Grantee who is awarded Shares under the Plan that contains the terms, conditions and restrictions pertaining to the award of such Shares.

  • Company Stock Option Plan means each share option plan, share award plan, share appreciation right plan, phantom share plan, share option, other equity or equity-based compensation plan, equity or other equity based award to any employee, whether payable in cash, shares or otherwise (to the extent not issued pursuant to any of the foregoing plans), or other plan or contract of any nature with any employee pursuant to which any share, option, warrant or other right to purchase or acquire shares of the Company or right to payment based on the value of Company shares has been granted or otherwise issued.

  • Incentive Share Option means an Option that is intended to meet the requirements of Section 422 of the Code or any successor provision thereto.

  • Termination Right have the respective meanings given in the PRA Contractual Stay Rules.

  • Over-Allotment Option means the option of the Underwriters to purchase up to an additional 15 per cent of the firm units (as described in the Articles) issued in the IPO at a price equal to US$10 per unit, less underwriting discounts and commissions.

  • Stock Option Plans means any stock option plan now or hereafter adopted by the Partnership or the General Partner.

  • Stock Reload Option means any option granted under Section 6.3, below, as a result of the payment of the exercise price of a Stock Option and/or the withholding tax related thereto in the form of Stock owned by the Holder or the withholding of Stock by the Company.

  • Share Option means a Nonqualified Share Option or an Incentive Share Option.

  • Replacement Option has the meaning ascribed thereto in Section 2.2(c).

  • Sub-grant Agreement means an agreement entered into, or proposed to be entered into, between the Bank and a Sub-grant Recipient;

  • Share Appreciation Right means the right pursuant to an Award granted under Section 8 below to receive an amount equal to the excess, if any, of (i) the aggregate Fair Market Value, as of the date such Award or portion thereof is surrendered, of the Shares covered by such Award or such portion thereof, over (ii) the aggregate Exercise Price of such Award or such portion thereof.

  • Tandem Appreciation Right means an Appreciation Right granted pursuant to Section 5 of this Plan that is granted in tandem with an Option Right.

  • Director Option means an Option granted pursuant to Section 6.

  • Notice of Stock Option Grant means the document so entitled to which this Agreement is attached.

  • Termination Option means the option of either party to terminate a transaction in the event that the other party fails to perform a Firm obligation to deliver Gas in the case of Seller or to receive Gas in the case of Buyer for a designated number of days during a period as specified on the applicable Transaction Confirmation.

  • Option 2 Annual Actual O&M Expenses

  • Stock Option means a contractual right granted to an Eligible Person under Section 6 hereof to purchase shares of Common Stock at such time and price, and subject to such conditions, as are set forth in the Plan and the applicable Award Agreement.