Mortality Net Amount At Risk Sample Clauses

The Mortality Net Amount At Risk clause defines the portion of an insurance policy’s death benefit that exceeds the policy’s cash value and is therefore at risk for the insurer. In practice, this amount is calculated by subtracting the accumulated cash value from the total death benefit payable upon the insured’s death. For example, if a policy has a $500,000 death benefit and a $100,000 cash value, the net amount at risk is $400,000. This clause is essential for determining the cost of insurance charges and helps insurers manage their risk exposure, ensuring premiums are set appropriately to cover potential claims.
Mortality Net Amount At Risk. 1. The mortality net amount at risk for each variable annuity contract reinsured hereunder shall be calculated as of the last day of each calendar month and shall be equal to the difference between the death benefit and the cash surrender value of the annuity. The reinsured mortality net amount at risk shall not be less than zero and shall not be greater than the product of Five Million Dollars ($5,000,000) per life and the quota share percentage set forth in Article I. The death benefit and the contract value will be as described in the variable annuity contract forms specified in Exhibit A.
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Mortality Net Amount At Risk. 1. The mortality net amount at risk reinsured hereunder shall equal the guaranteed death benefit less the cash surrender value of the annuity, up to a maximum of five million dollars ($5,000,000) per life. The guaranteed death benefit shall be as described in Endorsement Forms No. 1-007 75-194 or GCE-006-194.
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Mortality Net Amount At Risk. The variable net amount at risk for each variable annuity contract reinsured hereunder shall be calculated as of the last day of each calendar month and shall be determined as follows, up to a maximum of One Million Dollars ($1,000,000) per life. The contractual death benefit shall be as described in the contract forms specified in Exhibit A. VNAR = 50% of [(Contractual GMDB - Fixed Account Assets) - Separate Account CSV] = 50% of [Variable GMDB - Separate Account CSV] where: Separate Account CSV = Separate Account CV - (SASC% x SC) SASC% = SA / (SA + FA), an aggregate measure recalculated monthly. SA = Separate Account Assets. FA = Fixed Account Assets. SC = Total surrender charges under all contracts reinsured.
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Mortality Net Amount At Risk. 1. The mortality net amount at risk for each variable annuity contract reinsured hereunder shall be calculated as of the last day of each calendar month and shall be equal to [REDACTED]
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Mortality Net Amount At Risk. 1. The Mortality Net Amount at Risk for each variable annuity contract reinsured hereunder shall be equal to the difference between the Guaranteed Death Benefit and the Contract Value of the annuity. The reinsured Mortality Net Amount at Risk shall not be less than zero and shall not be greater than the product of Ten Million Dollars ($10,000,000) per life and the quota share percentage set forth in Article I. 2. For periodic reporting purposes described in Article VI, the Mortality Net Amount at Risk shall be calculated as of the last day of each calendar month.
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Mortality Net Amount At Risk. GMDB A. The MNAR (Mortality Net Amount at Risk) for each variable annuity contract ceded hereunder shall be based on the following: The Guaranteed Minimum Death Benefit for each contract is the larger of the amount stated in line (a) or line (b) below: (a) Return of Premium (b) Annual Step Up Death Benefit (e.g. annual ratchet death benefit) The Mortality Net Amount of Risk (MNAR) for each contract is equal to the amount stated in line (c) multiplied times (d). (c) Guaranteed Minimum Death Benefit less the (account value less surrender charge) where the MNAR cannot be less than zero. (d) The reinsurance % is defined in Schedule A Paragraph A of this Agreement. Exhibit III identifies the administrative criteria that will be used by the Cedent to identity the reinsured policies.
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