Common use of EXCHANGES OR CONVERSIONS Clause in Contracts

EXCHANGES OR CONVERSIONS. Exchanges or Conversions from a policy reinsured under this Agreement to a new policy -- either to a plan insurance covered under this Agreement or to a plan of insurance not covered under this Agreement - will continue to be reinsured under this Agreement; the amount of reinsurance under this Agreement will not exceed the amount of the reinsurance on the original policy with the Reinsurer immediately prior to the exchange conversion. Premiums will continue on a point-in-scale basis under the original terms. Note: An original date policy Reissue will not be treated as a continuation of the original policy. It will be treated as a new policy and the original policy will be treated as Not Taken. All premiums previously paid to the Reinsurer for the original policy will be refunded to the Ceding Company. All premiums will be due on the new policy from the original issue date of the old policy.

EXCHANGES OR CONVERSIONS. Exchanges or Conversions from a policy reinsured under this Agreement to a new policy -- either to a plan of insurance covered under this Agreement or to a plan of insurance not covered under this Agreement - will continue to be reinsured under this Agreement; the amount of reinsurance under this Agreement will not exceed the amount of the reinsurance on the original policy with the Reinsurer immediately prior to the exchange or conversion. Premiums will continue on a point-in-scale basis under the original terms. Note: An original date policy Reissue will not be treated as a continuation of the original policy. It will be treated as a new policy and the original policy will be treated as Not Taken. All premiums previously paid to the Reinsurer for the original policy will be refunded to the Ceding Company. All premiums will be due on the new policy from the original issue date of the old policy.