AUTOMATIC AND FACULTATIVE REINSURANCE. (Continued)
AUTOMATIC AND FACULTATIVE REINSURANCE. A. The Ceding Company shall automatically cede to the Reinsurer reinsurance of that portion of individual life policies and supplemental benefits as specified in Schedule A – Accepted Coverages, and the Reinsurer shall automatically accept such reinsurance that meets the following requirements:
2. The mortality rating on each individual risk must not exceed 500% (Table 16 or P), or its equivalent on a flat extra premium basis.
3. The maximum amount of insurance issued and applied for in all companies on each risk must not exceed the Jumbo Limit as specified in Schedule B –
AUTOMATIC AND FACULTATIVE REINSURANCE. The Reinsurer shall not be liable for benefits paid under the Ceding Company’s conditional receipt or temporary insurance agreement unless all the conditions for automatic reinsurance coverage are met. The pre-issue liability applies only once on any given life no matter how many receipts were issued or initial premiums were accepted by the Ceding Company. After a policy is issued, no reinsurance benefits are payable under this pre-issue coverage provision. The Reinsurer’s liability under the Ceding Company’s conditional receipt or temporary insurance agreement is limited to the lesser of i. or ii. below:
AUTOMATIC AND FACULTATIVE REINSURANCE. The Ceding Company shall automatically cede to the Reinsurer reinsurance of that portion of individual life policies and supplemental benefits as specified in Schedule A – Accepted Coverages, and the Reinsurer shall automatically accept such reinsurance that meet the following requirements:
AUTOMATIC AND FACULTATIVE REINSURANCE. A. The Ceding Company shall automatically cede to the Reinsurer reinsurance of that portion of individual life policies and supplemental benefits as specified in Schedule A – Accepted Coverages, and the Reinsurer shall automatically accept such reinsurance that meet the following requirements:
1. The individual risk must be underwritten by the Ceding Company in accordance with its standard underwriting practices and guidelines. A copy of the Ceding Company’s current underwriting guidelines is attached as Schedule G – Underwriting Guidelines. Risks falling into any other special reinsurance or underwriting programs such as Facultative Shopping or Automatic Reinsurance Cession (ARC) will be excluded from this Agreement.
2. The mortality rating on each individual risk must not exceed 500% (Table 16 or P), or its equivalent on a flat extra premium basis.
3. The maximum amount of insurance issued and applied for in all companies on each risk must not exceed the Jumbo Limit as specified in Schedule B –
AUTOMATIC AND FACULTATIVE REINSURANCE. (Continued)
i. The Automatic Binding Limits in Schedule B – Reinsurance Limits.
ii. The amount for which the Ceding Company is liable less its retention, less any amount of reinsurance with other reinsurers.
AUTOMATIC AND FACULTATIVE REINSURANCE. All terms and conditions of these Agreements not in conflict with the terms and conditions of this Amendment shall continue unchanged.
AUTOMATIC AND FACULTATIVE REINSURANCE. A. The Ceding Company shall automatically cede to the Reinsurer reinsurance of that portion of individual life policies and supplemental benefits as specified in Schedule A – Accepted Coverages, and the Reinsurer shall automatically accept such reinsurance that meets the following requirements:
1. The individual risk must be underwritten by the Ceding Company in accordance with its standard underwriting practices and guidelines. A copy of the Ceding Company’s current underwriting guidelines is attached as Schedule F – Underwriting Guidelines. Risks falling into any other special reinsurance or underwriting programs such as Facultative Shopping will be excluded from this Agreement.
2. The mortality rating on each individual risk must not exceed % (Table ), or its equivalent on a flat extra premium basis.
3. The maximum amount of insurance issued and applied for in all companies on each risk must not exceed the Jumbo Limit as specified in Schedule B –
AUTOMATIC AND FACULTATIVE REINSURANCE. Reinsurer will be notified before issue anytime the Jumbo Limit exceeds $ . Reinsurer’s Automatic Binding Limit: $ for issue ages (Standard through Table P) $ for issue ages (Standard) $ for issue ages (Tables A through P) $ for issue ages (Standard through Table H) $ for issue ages (Tables J through P) $ for issue ages (Standard) $ for issue ages (Tables A through D) $ for issue ages (Standard) Automatic Issue Limit: $ Issue Ages: 0-90 Minimum Initial Cession: $10,000 Trivial Amount: $1 Minimum Face Amount: $50,000 Minimum Facultative Cession: $100,000 Face Amount «COV_AMOUNT1» Policy # «POLICY_NO» First Name «FIRST» Last Name «LAST» DOB XXXXXXXXX (Minimum face amount $ ) XXXXXXX(Excess Only) Excluding Survivorships MassMutual insurance inforce XXXXXX (Minimum face amount $ ) Of which we retain with XXXXXXXX (Minimum face amount $ ) parent or affiliate XXXXXXX (Excess Only) Insurance now applied for XXXXXXXX (Minimum face amount $ ) Of which we will retain XXXXXXXX (Excess Only) Excluding Survivorships XXXXXXX (Excess Only) Reinsurance applied for ¨ Application ¨ ¨ Financial Report ¨ ¨ Non-Medical ¨ ¨ Cover Letter ¨ ¨ Medical Exam ¨ ¨ APS ¨ ¨ ECG ¨ ¨ APS ¨ ¨ X-Ray ¨ ¨ APS ¨ ¨ Lab Report ¨ ¨ ¨ ¨ Specimen ¨ ¨ ¨ ¨ Inspection ¨ ¨ ¨ ¨ MVR ¨ ¨ ¨ ¨ Reason for Submission ¨ Retention/Amount ¨ Health ¨ Rating/Review
AUTOMATIC AND FACULTATIVE REINSURANCE. A. The Ceding Company shall automatically cede to the Reinsurer reinsurance of that portion of individual life policies and supplemental benefits as specified in Schedule A – Accepted Coverages, and the Reinsurer shall automatically accept such reinsurance that meets the following requirements:
1. The individual risk must be underwritten by the Ceding Company in accordance with its standard underwriting practices and guidelines. A copy of the Ceding Company’s current underwriting guidelines is attached as Schedule F – Underwriting Guidelines. Risks falling into any other special reinsurance or underwriting programs such as Facultative Shopping or Automatic Reinsurance Cession (ARC) shall be excluded from this Agreement.
2. The mortality rating on each individual risk must not exceed 500% (Table 16 or P), or its equivalent on a flat extra premium basis.
3. The maximum amount of insurance issued and applied for in all companies on each risk must not exceed the Jumbo Limit as specified in Schedule B – Reinsurance Limits.
4. On each individual life, the Ceding Company shall retain the amounts of insurance as specified in Schedule B – Reinsurance Limits.
5. The maximum amounts of insurance to be automatically reinsured on a life must not exceed the reinsurance limits specified in Schedule B – Reinsurance Limits.
B. Reinsurance which may not be ceded automatically according to the provisions stated in Paragraph A of this Article, may be submitted to other reinsurers for facultative consideration. The Reinsurer does not accept facultative reinsurance.
C. The liability of the Reinsurer for automatically ceded reinsurance shall commence simultaneously with that of the Ceding Company. The liability of the Reinsurer for reinsurance ceded automatically shall terminate simultaneously with that of the Ceding Company’s liability or as specified in accordance with the provisions of Article IV – Premiums, Payments and Reports or Article X –
