Automatic Cessions. The Ceding Company shall cede and the Reinsurer shall accept as indemnity reinsurance, on a YRT basis, in accordance with the terms and conditions hereof, the portions of the Ceding Company's risk on all Policies that are not in excess of the Automatic Binding Limit, as provided in Exhibit I, with respect to each Policy and the Ceding Company shall retain for its own account the portions of the risk on each Policy as provided in Exhibit II not to exceed its per life retention, provided that:
A. the Ceding Company shall have retained the specified portion of the risk on each ceded Policy as described above;
B. the amount ceded to the Reinsurer does not exceed the Automatic Binding Limit as shown in Exhibit I;
C. the sum of the amount of insurance already in force and applied for on that life according to information available to the Ceding Company, does not exceed the Jumbo Limit as shown in Exhibit I;
D. the Ceding Company has not applied for facultative coverage on the current application;
E. the Policy is issued in accordance with the Ceding Company's normal individual ordinary life underwriting rules and practices;
F. the Policy is listed in Exhibit III.
Automatic Cessions. Whenever the plan of insurance on any policy reinsured hereunder is being changed, including internal replacements, and the Company is not obtaining evidence in accordance with the Company’s full new business underwriting rules, or as agreed otherwise by the Company and the Reinsurer, the reinsurance shall remain in effect with the Reinsurer on the following basis:
Automatic Cessions. For all automatic cessions, the Company shall advise the Reinsurer in the manner described in Exhibit E. The Company agrees to send copies of the application, underwriting papers and other papers for an automatic cession on any life upon the request from the Reinsurer.
Automatic Cessions. The recapture will be effected through a proportional increase in Cedent's Automatic Retained Percentage, defined in Article II Section 8. The increase in the Automatic Retained Percentage will be proportionate to the increase in Cedent's Retention Limit for the corresponding issue ages.
Automatic Cessions. If the amount of the policy arising from the conversion is increased at the time of the conversion, the Reinsurer’s net amount at risk shall be increased proportionately, effective on the date of the conversion. The increased amount of the policy shall be subject to full underwriting by the Company, and the total amount reinsured shall not exceed the Jumbo Limits or the Automatic Limits as outlined in Exhibit E-I. Any increase in amount shall be subject to the Reinsurer’s approval. Premium rates shall be applied to the converted policy on a point-in-scale basis.
Automatic Cessions a) Issue age and rating restrictions are shown in the following table. The youngest insured must be between the ages of 15 - 85. The minimum life expectancy for each of the two lives is one year. ------------------------------------------------------------------- MAXIMUM TABLE RATING AVAILABLE TO THE YOUNGEST APPLICANT IF THE OLDEST APPLICANT'S CLASSIFICATION IS: ------------------------------------------------------------------- YOUNGEST APPLICANT'S AGE GROUP* STANDARD SUBSTANDARD UNINSURABLE ------------------------------------------------------------------- Ages 15 - 45 ------------------------------------------------------------------- Ages 46 - 55 ------------------------------------------------------------------- Ages 56 - 75 ------------------------------------------------------------------- Ages 76 - 80 ------------------------------------------------------------------- Ages 81 - 85 ------------------------------------------------------------------- *If both applicants are in the same age group, use the lower rated applicant as the youngest applicant. For example, if both applicants are ages 81 - 85, the Ceding Company can issue up to D/D or Standard/Uninsurable.
b) Definition of substandard (as opposed to uninsurable): ------------------------------------------------------------------- Ages 20 - 75 Through Table P ------------------------------------------------------------------- Ages 76 - 80 Through Table H ------------------------------------------------------------------- Ages 81 - 85 Through Table D ------------------------------------------------------------------- Ages 86 - 90 Always considered uninsurable even if standard -------------------------------------------------------------------
c) Definition of (acceptable) uninsurable: For the purposes of this Agreement, a risk will be classed as uninsurable if it is assessed at a table rating higher than the substandard limits above and if the life expectancy is at least one year.
d) The Reinsurer's share of the total automatic pool will be [percentage]. IDSL-NY Succession Select Treaty
Automatic Cessions. If the amount of the policy arising from the conversion is increased at the time of the conversion, the Reinsurer’s net amount at risk shall be increased proportionately, effective on the date of the conversion. The increased amount of the policy shall be subject to full underwriting by the Company, and the total amount reinsured shall not exceed the Jumbo Limits or the Automatic Limits as outlined in Exhibit E-I, E-II and E-III. Any increase in amount shall be subject to the Reinsurer’s approval. Premium rates shall be applied to the converted policy on a point-in-scale basis. Any reference to a converting policy shall pertain to the “STERM” plan, listed in Exhibit A or any other plan that provides for contractual conversion that may be reinsured under this Agreement in the future. Policy Changes Changes to policies reinsured under this Agreement shall be made in accordance with the provisions set out below. If the change affects the plan, the amount of reinsurance premiums, allowances or commissions, if applicable, under the cession, the Company shall inform the Reinsurer in the subsequent Reinsurance Report as set out in Exhibit F. Plan Changes
Automatic Cessions. Whenever the plan of insurance on any Covered Policy is being changed, including internal replacements, and the Company is not obtaining evidence in accordance with the Company’s new business underwriting rules, or as agreed otherwise by the Company and the Reinsurer, the reinsurance shall remain in effect with the Reinsurer on the following basis:
(i) the reinsurance rates and the durations shall be based on those applicable to the original cession; and
(ii) the reinsurance amount at risk shall be determined according to the terms of this Agreement but in no event shall be more than the original cession at the time of the change in plan; and
(iii) the suicide and contestability period of the policy will be measured from the issue date of the original cession. Whenever the plan of insurance on a Covered Policy is being changed, including internal replacements, and underwriting in accordance with the Company’s new business underwriting rules is required, the policy will be considered new business and will be reinsured under the current pool open to new business, using first year rates based on attained age. The suicide and contestability period of such a policy will be measured from the current issue date, except in jurisdictions that require otherwise.
Automatic Cessions. Any underwriting reclassification, (including any change in mortality rating), or non-contractual increase in amount at risk for any cession shall be subject to the Company’s underwriting rules or as agreed otherwise by the Company and the Reinsurer. The amount of the increase shall be subject to the terms of this Agreement. If the amount of the policy will increase above the Jumbo Limit, or if the amount to be reinsured exceeds the Reinsurer’s Automatic Acceptance Limits, the increase shall be subject to the Reinsurer’s approval, which shall not be unreasonably withheld, conditioned or delayed.
Automatic Cessions. If the amount of the policy arising from the conversion is increased at the time of the conversion, the Reinsurer’s net amount at risk shall be increased proportionately, effective on the date of the conversion. The increased amount of the policy shall be subject to underwriting by the Company in accordance with Exhibit H, and the total amount reinsured shall not exceed the Jumbo Limits or the Automatic Limits set forth in Exhibits E-I, E-II and E-III. The increased risk amount will have a separate cession record and its own effective date. Reinsurance for the increased risk amount will be based on attained age and using the rates in Exhibit D.
