AUTOMATIC AND FACULTATIVE SUBMISSIONS Clause Samples

AUTOMATIC AND FACULTATIVE SUBMISSIONS. Automatic Submissions: Allianz Life will automatically accept individual life reinsurance on a risk subject to the following conditions: 1. The Ceding Company has kept amounts equal to the Retention Limits as shown in Schedule A and has classified the risk in a mortality class according to its normal underwriting rules. 2. The amounts to be reinsured do not exceed the Automatic Acceptance Limits shown in Schedule D of this Agreement. 3. The face amount of individual life insurance applied for on the life in all companies, including the Ceding Company, when added to the face amount of life insurance in force on the life in all companies, including the Ceding Company, shall not exceed the Jumbo Limit as set forth in Schedule D of this Agreement. 4 The insured must be a permanent resident of the United States or Canada. 5. The insured's issue age must be between those found in Schedule D of this Agreement. 6. The Ceding Company shall not have submitted an application for facultative reinsurance on the life to any company within three (3) years of the automatic risk offered under this Agreement. 7. The mortality rating for each risk shall not be in excess of that found in Schedule D of this Agreement.

AUTOMATIC AND FACULTATIVE SUBMISSIONS. Automatic Submissions: 1. The Ceding Company has kept amounts equal to the Retention Limits as shown in Schedule A and has classified the risk in a mortality class according to its normal underwriting rules. 2. The amounts to be reinsured do not exceed the Automatic Acceptance Limits shown in Schedule E. 4. The insured must be a permanent resident of the United States. 5. The insured’s issue age must be between 0 and 80.

AUTOMATIC AND FACULTATIVE SUBMISSIONS. The Ceding Company shall furnish Allianz Life with any specimen copies of its individual life insurance applications, policy forms, rider forms, conditional receipt, temporary receipt, reinstatement rules, placement requirements, and any tables of rates and values which may be required for the proper administration of the business reinsured under this agreement, and shall keep Allianz Life informed with respect to any modifications of such rules, requirements, or forms under which reinsurance may be desired. The Ceding Company must follow its written procedures for the delivery of its policies, including evidence of good health and collection of premiums and be in compliance with relevant laws of all applicable jurisdictions. Exceptions to following the Ceding Company’s written procedures can be granted only by written approval from Allianz Life. Allianz Life shall be notified of any changes in underwriting procedures or practices of the Ceding Company.