Automatic Coverage Sample Clauses

Automatic Coverage. For automatic reinsurance coverage of any policy covered under this Agreement, the Company will retain the amount stipulated in Exhibit D according to the age and mortality rating at the time of underwriting. The Company will automatically cede the amount of reinsurance to the Reinsurer according to the Automatic Acceptance Limits specified in Exhibit E.

Automatic Coverage. On and after the Effective Date of this agreement, whenever the Ceding Company issues coverage on a risk for a plan covered by this Pool, and the total coverage issued and in force on that risk with the Ceding Company exceeds its then current maximum retention, such coverage will be automatically reinsured in the Pool, provided: a. that the aggregate amount of life and supplemental benefits reinsured does not exceed the maximums set out in Exhibit G; b. that the risk is not known to be a citizen of countries other than the United States and Canada, is residing in the United States or Canada, is classified in accordance with generally accepted individual underwriting practices, and is not a Jumbo Risk as defined in Exhibit E; c. that on the risk the Ceding Company has retained its maximum Exhibit D retention, either for the current coverage or on a previous issue, or by combination of both, at the time reinsurance is required; d. that for the current coverage, the Ceding Company has not made facultative application to another reinsurer. TABLE OF CONTENTS Article I Effective Date and Duration 1 Article II Automatic Coverage 1 Article III Facultative Reinsurance 2

Automatic Coverage. A. Reinsurance hereunder will be ceded automatically by the CEDING COMPANY on an excess quota-share basis. The REINSURER’S percentage of participation in each risk ceded will be shown in Schedule A. B. For policies listed in Schedule A with an issue date on or after the effective date of this AGREEMENT, the CEDING COMPANY will cede and the REINSURER will automatically accept its share of the excess risk, in accordance with the terms and conditions of this AGREEMENT, if all of the following conditions are met for each insured life: 1. For each risk on which reinsurance is ceded, the CEDING COMPANY will retain the appropriate retention amount, as specified in Schedule A, at the time of issue, taking into account both currently issued and previously issued policies. The CEDING COMPANY’s maximum retention limit must be greater than zero to cede business to the REINSURER. The CEDING COMPANY will include any amounts issued by affiliated companies and may include amounts assumed via reinsurance in its per life retention calculation. Affiliates is defined as a company within the AXA Financial Inc. Holding Company Group. The CEDING COMPANY may cede part of its retention to other companies within the global AXA Group. 2. The total amount of reinsurance including contractual increases, and the amount already reinsured on that life under this AGREEMENT and all other agreements between the REINSURER and the CEDING COMPANY does not exceed the Total REINSURER Automatic Binding Limits set out in Schedule A. 3. The jumbo limit, as shown in Schedule A, is not exceeded. The per life jumbo limit is defined as the total face amount in-force and applied for in all companies. For coverage with contractual increases issued by the CEDING COMPANY or its affiliates (e.g. Return of Premium Rider), the ultimate face amount will be used in calculating the jumbo limit. Policies being replaced may be excluded from the “amount in-force” defined above, if either of the following conditions is met: 1) An existing term or permanent product is to be replaced, with or without a 1035 exchange, and CEDING COMPANY has been provided with and submitted to the insurer an absolute assignment form, and/or 2) An internal replacement situation where an equal or greater amount of inforce coverage is being issued. The CEDING COMPANY assumes full responsibility to effect the cancellation of the policy being replaced, concurrently with the issuance of the replacement policy. If the cancellation does not occ...

Automatic Coverage. A. On and after the Effective Date of this Memorandum Addendum, whenever the Ceding Company issues coverage on a risk for the Survivor Life plan covered by this Pool, and the total coverage issued and in force on that risk with the Ceding Company exceeds its then current maximum retention, such coverage will be automatically reinsured in the Pool, provided: a. that the aggregate amount of life and supplemental benefits reinsured does not exceed the maximum set out in Exhibit G of the Agreement to which this Addendum is attached; b. that each risk is not known to be a citizen of countries other than the United States and Canada, is residing in the United States or Canada, is classified in accordance with generally accepted individual underwriting practices, and is not a Jumbo Risk as defined in Exhibit E of the Agreement to which this Addendum is attached; c. that on the risk (the younger risk if joint coverage) the Ceding Company has retained its maximum Exhibit D retention, either for the current coverage or on a previous issue, or by combination of both, at the time reinsurance is required; d. that for the current coverage, the Ceding Company has not made facultative application to another reinsurer; e. that for joint life coverage where both risks are insurable, each risk must be rated Table 16 or lower for issue ages 20-75, and Table 4 or lower for issue ages 76-85; f. that for joint life coverage involving one uninsurable risk, the insurable risk must be no greater than Table 8 for issue ages 20-75, or Table 4 for issue ages 76-85.

Automatic Coverage. The Company shall cede to the Reinsurer the life insurance policies, supplementary benefits and riders listed in Exhibit A. The Reinsurer shall automatically accept these policies, supplementary benefits and riders as described in the exhibits of this Agreement, provided that:

Automatic Coverage. A. All Provisions of this Agreement are subject to the laws of the State of New York. B. Reinsurance hereunder will be ceded automatically by the CEDING COMPANY on a quota-share basis. The REINSURER'S percentage of participation in each risk ceded will be shown in Schedule B. C. For each risk on which reinsurance is ceded under this agreement, the CEDING COMPANY will retain [ ]% of the policy reinsured, up to its full published retention as shown in Exhibit III at the time of issue, taking into account both currently issued and previously issued policies. D. The CEDING COMPANY will cede and the REINSURER will automatically accept reinsurance, if all of the following conditions are met for each life: 1. The amount does not exceed the automatic binding limits shown in Schedule B. 2. The sum of the amount of insurance already in force and applied for on that life, in all companies, does not exceed the Jumbo Limit as shown in Schedule B. 3. The issue age and mortality rating limit for each risk does not exceed the limits as shown in Schedule B. 4. The CEDING COMPANY has not, within three years of the date of application of the risk, made facultative application for reinsurance of the risk to REINSURER or any other reinsurer, except in conjunction with the Substandard Underwriting Program as described in Article II of this treaty. 5. The risk is conventionally underwritten by the CEDING COMPANY according to standard underwriting practices and guidelines, including those related to HIV testing. 6. The plan is listed in Schedule A. 7. The individual risk must be a citizen or a permanent resident of the United States, Canada or residents of countries as shown in Schedule D. 8. The mortality rating on each individual risk must not exceed Table [ ] or its equivalent on a flat extra premium basis for single life policies. 9. The issuance and delivery of the policy is in compliance with the laws of all applicable jurisdictions and the CEDING COMPANY's corporate charter.

Automatic Coverage. Except as specified in Paragraph 5, whenever the Company retains its maximum limit of retention, as indicated in Schedule I, the Company shall cede and the [name of reinsurance company] shall automatically accept such Life reinsurance as provided herein with a corresponding amount of Waiver of Premium, if any, on the same terms and for an amount not exceeding the limits specified in Schedule I. Special Automatic Coverage

Automatic Coverage. Except as provided below, the REINSURER will automatically be liable for its share, as defined in Schedule A, up to the limits shown in Schedule A, of ceded reinsurance on Policies, provided that the following conditions precedent are satisfied: 1. Each Policy must be newly issued. Conversions of Policies that are not already covered under this Agreement shall not be considered “newly issued”; 2. Each Policy is reported and premiums are paid or credited; 3. Each Policy is written pursuant to the underwriting guidelines disclosed in Exhibit IV; 4. The total amount of in force and new business insurance, including contractual increases, on a life written by the CEDING COMPANY at the time the applicable Policy is issued does not exceed the Automatic Binding Limits defined in Schedule A. In the event that a new Policy on an insured life causes the Automatic Binding Limits to be exceeded for that life, no portion of that new Policy is eligible for reinsurance under this Agreement unless specifically agreed to in writing by the REINSURER; 5. The CEDING COMPANY has retained its per life risk retention on the Policy (as defined in Schedule A) or has collectively used its full retention on that life under the Policy and under previously issued in-force Policies on that life; 6. The sum of (a) and (b) does not exceed the Jumbo Limit stated in Schedule A, where (a) is the amount of life insurance currently in force in all companies, including all coverage to be replaced, and (b) is the ultimate face amount, including scheduled face amount increases, currently applied for on that life in all companies; FNWL Agreement No. 07-003a-TL Page 1 Coverage Effective 9-01-08 7. The CEDING COMPANY has never submitted any portion of the risk(s) to be reinsured hereunder to any reinsurer for facultative reinsurance; and 8. The insured is a permanent resident of the United States or its territories, or is a person that resides in the United States or its territories on a permanent basis, for at least the preceding 12 months, and intends to continue residing in the United States or its territories on a permanent basis, but is not a citizen and does not yet have an alien registration receipt card.

Automatic Coverage. A. Reinsurance hereunder will be ceded automatically by the CEDING COMPANY through an Automatic Risk Pool. [name of reinsurance company]'s percentage of participation in each risk ceded through this Pool will be as shown in Exhibit D. B. For each risk on which reinsurance is ceded, the CEDING COMPANY will retain its full published retention at the time of issue, taking into account both currently issued and previously issued policies. C. The CEDING COMPANY may cede and [name of reinsurance company] will automatically accept reinsurance, if all of the following conditions are met for each life: 1. The CEDING COMPANY has retained its limit of retention as shown in Exhibit A. 2. The amount does not exceed the automatic binding limits shown in Exhibit D. 3. The sum of the amount of insurance already in force and applied for on that life, in all companies, does not exceed the Jumbo Limit as shown in Exhibit D. 4. The CEDING COMPANY has not made facultative application for reinsurance of the current or prior applications on the same life to [name of reinsurance company] or any other reinsurer. 5. The risk is underwritten in accordance with the CEDING COMPANY'S normal underwriting rules and practices. 6. The Plan is listed in Exhibit B. D. The CEDING COMPANY may automatically cede Waiver of Premium Disability reinsurance in amounts not to exceed the amounts shown in Exhibit D.

Automatic Coverage. The Company shall be liable for loss under Coverage described in Sections A and B1, 2 and/or 3 from an Accident at a Location newly acquired by the Insured subject to the following conditions: a) the Insured notifies the Company in writing within ninety (90) days after the date the Location is acquired; b) the newly acquired Location is in Canada; c) the Insured agrees to pay an additional premium for insurance from the date the Location is newly acquired in accordance with the Company’s Manual of Rates; d) the Deductible amount for such Coverage will be the highest amount shown in the policy for loss applicable to each Coverage; and e) the limit of the Company’s liability shall be the lesser of: i) the Limit of Liability applicable to each Coverage; or ii) the Limit of Liability specified in the Declarations for Automatic Coverage.