Return of Premium Due to Misrepresentation or Suicide Clause Samples

The 'Return of Premium Due to Misrepresentation or Suicide' clause outlines the insurer's obligation to refund premiums if the insurance policy is voided because of false information provided by the policyholder or if the insured dies by suicide within a specified period after the policy begins. In practice, if a claim is denied for these reasons, the insurer will not pay out the policy's death benefit but will return the premiums paid, often minus any administrative fees. This clause primarily serves to protect the insurer from fraudulent claims or early suicide risk, while ensuring that the policyholder's beneficiaries are not left entirely uncompensated in such situations.
Return of Premium Due to Misrepresentation or Suicide. If the Ceding Company returns premiums as a result of a misrepresentation by the insured or pays a reduced death benefit as a result of the insured’s suicide, Munich Re, U.S. (Life) shall return to the Ceding Company the reinsurance premium received on that Policy without applicable interest to the Ceding Company in lieu of any other benefit payable under this Agreement.
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Return of Premium Due to Misrepresentation or Suicide. If the Ceding Company returns premiums as a result of a misrepresentation by the insured or pays a reduced death benefit as a result of the insured’s suicide, MARC shall return to the Ceding Company the reinsurance premium received on that Policy without applicable interest to the Ceding Company in lieu of any other benefit payable under this Agreement.
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Related to Return of Premium Due to Misrepresentation or Suicide

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