A type of reinsurance by a reinsurer that takes on a segment of the life insurance policy another insurer has written. The reinsurer is responsible for a documented fraction of the death benefit to the issuing insurance firm upon the policy holder’s death. The beneficiary is paid by the insurance firm.
Link to This DefinitionDid you find this definition of COINSURANCE PLAN OF REINSURANCE helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary