Automatic Coverage. A. Reinsurance hereunder will be ceded automatically by the CEDING COMPANY on an excess of retention basis as shown in Exhibits A, B and D, and will be reported to the REINSURER according to the terms in Exhibit E. B. The CEDING COMPANY may cede and the REINSURER will automatically accept reinsurance, if all of the following conditions are met for each life: 1. The CEDING COMPANY has retained its maximum limit of retention as shown in Exhibit A. 2. The Policy Plans reinsured are shown in Exhibit B. 3. The total ultimate amount of reinsurance and the amount already reinsured on that life by the CEDING COMPANY does not exceed the Automatic Binding Limits as shown in Exhibit D. 4. The sum of the amount of insurance already in force and applied for on that life, in all companies, does not exceed the Jumbo Limits as shown in Exhibit D. 5. The CEDING COMPANY has not made facultative application on the current life to any reinsurer within the last five (5) years unless the reason for prior facultative submission was solely for capacity that may now be accommodated within the terms of this AGREEMENT, or unless the case was issued and reinsured standard or subsequently rerated to standard. 6. The risk is a permanent resident of the United States, Canada, Puerto Rico or Guam. Please refer to Exhibit H for International risks. 7. The CEDING COMPANY applies the underwriting guidelines, practices and procedures for risk selection identified by the CEDING COMPANY in the questionnaire titled “Underwriting Guidelines, Practices and Procedures”. The Reinsurer must consent in writing to any material changes to these underwriting guidelines, practices and procedures. 8. The application is not on the life of an individual who is a member of the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB) or National Hockey League (NHL). 9. The REINSURER acknowledges that foreign travel policy application questions may not be used if prohibited by law. 10. The REINSURER has been supplied with the underwriting guidelines, preferred class and senior assessment documents. The CEDING COMPANY will promptly notify the REINSURER in advance of any proposed material changes to its underwriting guidelines, preferred class and senior assessment documents affecting business applicable to this AGREEMENT.
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Automatic Coverage. A. Reinsurance hereunder will be ceded automatically by the CEDING COMPANY on an excess of retention basis as shown in Exhibits A, B and D, and will be reported to the REINSURER according to the terms in Exhibit E.
B. The CEDING COMPANY may cede and the REINSURER will automatically accept reinsurance, if all of the following conditions are met for each life:
1. The CEDING COMPANY has retained its maximum limit of retention as shown in Exhibit A.
2. The Policy Plans reinsured are shown in Exhibit B.
3. The total ultimate amount of reinsurance reinsurance, including contractual increases and the amount already reinsured on that life by under this AGREEMENT and all other agreements between the REINSURER and the CEDING COMPANY does not exceed the Automatic Binding Limits as shown in Exhibit D.
4. The sum of the amount of insurance already in force and applied for on that life, in with all companies, does not exceed the Jumbo Limits as shown in Exhibit D.
5. The CEDING COMPANY has not made facultative application on the current life to any reinsurer within the last five (5) years unless the reason for prior facultative submission was solely for capacity that may now be accommodated within the terms of this AGREEMENT, or unless the case was issued and reinsured standard or subsequently rerated to standard.
6. The risk is a permanent resident of the United States, Canada, Puerto Rico or Guam. Please refer to Exhibit H for International risks.
7. The CEDING COMPANY applies the its normal underwriting guidelines, practices and procedures for risk selection identified guidelines that have been agreed to in advance by the CEDING COMPANY in the questionnaire titled “Underwriting Guidelines, Practices and Procedures”. The Reinsurer must consent in writing to any material changes to these underwriting guidelines, practices and proceduresREINSURER.
8. The application is not on the life of an individual who is a member of the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB) or National Hockey League (NHL).
9. The REINSURER acknowledges that foreign travel policy application questions may not be used if prohibited by law.
10. The REINSURER has been supplied with the underwriting guidelines, preferred class and senior assessment documents. The CEDING COMPANY will promptly notify the REINSURER in advance of any proposed material changes to its underwriting guidelines, preferred class and senior assessment documents affecting business applicable to this AGREEMENT.
C. New Business New business as defined in this Article and Article XI are those policies on which:
a. The CEDING COMPANY has obtained complete and current underwriting evidence in accordance with its standard underwriting practices and guidelines on the full amount issued, including the highest face amount illustrated at issue,
b. The full normal commissions are paid by the CEDING COMPANY for the new plan and
c. The suicide and contestable provisions apply from the effective date of the new plan subject to any applicable state laws and regulations regarding suicide exclusions and contestability periods.
Appears in 1 contract
Automatic Coverage. A. Reinsurance hereunder will be ceded automatically by the CEDING COMPANY on an excess of retention basis as shown in Exhibits A, B and D, and will be reported to the REINSURER according to the terms in Exhibit E.
B. The CEDING COMPANY may cede and the REINSURER will automatically accept reinsurance, if all of the following conditions are met for each life:
1. The CEDING COMPANY has retained its maximum limit of retention as shown in Exhibit A.
2. The Policy Plans reinsured are shown in Exhibit B.
3. The total of the new ultimate face amount of reinsurance required, including any contractual increases and the amount already reinsured on that life by under this AGREEMENT and all other life agreements between the REINSURER and the CEDING COMPANY COMPANY, does not exceed the Automatic Binding Limits as shown in Exhibit D.
4. The sum of the total new ultimate face amount of insurance already insurance, including any contractual increases on that life in force and applied for on that life, in with all companies, including the CEDING COMPANY, does not exceed the Jumbo Limits as shown in Exhibit D.
5. The CEDING COMPANY has not made facultative application on the current life to any reinsurer within the last five (5) years unless the reason for prior facultative submission was solely for capacity that may now be accommodated within the terms of this AGREEMENT, or unless the case was issued and reinsured standard or subsequently rerated to standard.
6. The risk is a permanent resident of the United States, Canada, Puerto Rico or Guam. Please refer to Exhibit H for International risks.
7. Other than as agreed to by the REINSURER in writing, the policy is not purchased, to the knowledge of the CEDING COMPANY, as part of a third party investment program where such third party lacks an insurable interest in the insured or where such third party is engaging in insurance arbitrage. It is understood that the REINSURER has already signed off on the CEDING COMPANYs procedures in this regard.
8. The CEDING COMPANY applies the underwriting guidelinesits normal business guidelines as outlined in Exhibit A-1, practices and procedures for risk selection identified by the CEDING COMPANY in the questionnaire titled “Underwriting Guidelines, Practices and Procedures”. The Reinsurer must consent in writing to any material changes to these underwriting guidelines, practices and procedures.
8. The application is not on the life of an individual who is a member of the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB) or National Hockey League (NHL)all policies.
9. The REINSURER acknowledges that foreign travel policy application questions may not be used if prohibited by law.
10. The REINSURER has been supplied with the underwriting guidelines, preferred class and senior assessment documents. The CEDING COMPANY will promptly notify the REINSURER in advance of any proposed material changes to its underwriting guidelines, preferred class and senior assessment documents affecting business applicable to this AGREEMENT.
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Automatic Coverage. A. The CEDING COMPANY agrees to cede and the REINSURER agrees to accept reinsurance on an automatic basis for the plans described in Exhibit B in accordance with the provisions of this Agreement. Reinsurance hereunder will be ceded automatically by the CEDING COMPANY on an excess of retention the following basis: Quota Share basis as shown in Exhibits A, B and D, and will be reported to the REINSURER according to the terms Exhibit D for plans listed in Exhibit E.
B. B issued under the CEDING COMPANY's Guaranteed Issue Program; and Excess basis as shown in Exhibit D for plans listed in Exhibit B that are not Guaranteed Issue. The CEDING COMPANY may cede and the REINSURER will automatically accept reinsurance, if all of the following conditions are met for each life:
1. : For plans issued under the Guaranteed Issue Program: The Automatic Guaranteed Issue Parameters listed in Exhibit G-1 are met; and The CEDING COMPANY has retained the percentage of participation listed in Exhibit D up to the maximum limit of retention listed in Exhibit A. For all other plans: The risk has been fully underwritten by the CEDING COMPANY according to its normal underwriting guidelines attached as Exhibit G-2; and The CEDING COMPANY has retained its maximum limit portion of retention the risk as shown described in Exhibit A.
2. A. The Policy Plans reinsured are shown in Exhibit B.
3. The total ultimate amount of reinsurance and the amount already reinsured on that life by the CEDING COMPANY does not exceed the Automatic Binding Limits as automatic binding limits shown in Exhibit D.
4. D. The sum of the amount of insurance already in force and applied for on that life, in all companies, per issue does not exceed the Jumbo Limits as Issue Limit shown in Exhibit D.
5. D. The CEDING COMPANY has not made facultative application for reinsurance of the current guaranteed issue amount on the current same life to the REINSURER or any reinsurer within the last five (5) years unless the reason for prior facultative submission was solely for capacity that may now be accommodated within the terms of this AGREEMENT, or unless the case was issued and reinsured standard or subsequently rerated to standard.
6other reinsurer. The Plan is listed in Exhibit B. The risk is a permanent resident of the United States. For Fully Underwritten business, Canadathe total amount of life insurance in force and applied for with all companies, Puerto Rico or Guam. Please refer to Exhibit H for International risks.
7. The CEDING COMPANY applies the underwriting guidelines, practices and procedures for risk selection identified by of which the CEDING COMPANY is aware, must not exceed the Jumbo Limit shown in Exhibit D. The minimum amount of reinsurance per cession is $10,000 and reinsurance will be terminated when the questionnaire titled “Underwriting Guidelines, Practices and Procedures”. The Reinsurer must consent in writing to any material changes to these underwriting guidelines, practices and proceduresamount reinsured is less than $10,000.
8. The application is not on the life of an individual who is a member of the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB) or National Hockey League (NHL).
9. The REINSURER acknowledges that foreign travel policy application questions may not be used if prohibited by law.
10. The REINSURER has been supplied with the underwriting guidelines, preferred class and senior assessment documents. The CEDING COMPANY will promptly notify the REINSURER in advance of any proposed material changes to its underwriting guidelines, preferred class and senior assessment documents affecting business applicable to this AGREEMENT.
Appears in 1 contract
Samples: Automatic Yearly Renewable Term Agreement (Sun Life of Canada U S Variable Account G)
Automatic Coverage. A. Reinsurance hereunder will be ceded automatically by the CEDING COMPANY on an excess of retention basis as shown in Exhibits A, B and D, and will be reported to the REINSURER according to the terms in Exhibit E.
B. The Beginning for policies applied for on and after December 1, 2008 (the “Coverage Commencement Date”) and continuing until this AGREEMENT is terminated, the CEDING COMPANY may cede and the REINSURER will automatically accept reinsurance, if all of the following conditions are met for each life:
1. The CEDING COMPANY has retained its maximum limit of retention as shown in Exhibit A.
2. The Policy Plans reinsured are shown in Exhibit B.
3. The total ultimate amount of reinsurance reinsurance, including contractual increases and the amount already reinsured on that life by the CEDING COMPANY under this AGREEMENT and all others with the REINSURER does not exceed the Automatic Binding Limits as shown in Exhibit D.D. The CEDING COMPANY underwrites to the full face amount at issue, and projects a total ultimate amount including increases at the policy’s inception. The CEDING COMPANY then reinsures the excess portion based upon that projection.
4. The If at the time of application and after having underwritten the life consistent with its underwriting practices and procedures, the Ceding Company determines that the sum of the total amount of insurance already in force and applied for on that life, in all companiesincluding the ultimate amounts of any Pacific Life or Pacific Life and Annuity insurance policy, and including any amounts to be replaced as stated on a signed Part I of any Pacific Life application or signed amendment, does not exceed the Jumbo Limits as shown in Exhibit D.
5. The CEDING COMPANY has not made facultative application D. For the avoidance of doubt, any policy ceded that, based on the current life to any reinsurer within foregoing, does not breach the last five (5) years unless Jumbo Limit at the reason for prior facultative submission was solely for capacity that may now time of cession will be accommodated within the terms of reinsured fully under this AGREEMENT, or unless the case was issued and reinsured standard or subsequently rerated to standard.
6. The risk is a permanent resident of the United States, Canada, Puerto Rico or Guam. Please refer to Exhibit H for International risks.
7. The CEDING COMPANY applies the underwriting guidelines, practices and procedures for risk selection identified by the CEDING COMPANY in the questionnaire titled “Underwriting Guidelines, Practices and Procedures”. The Reinsurer must consent in writing to any material changes to these underwriting guidelines, practices and procedures.
8. The application is not on the life of an individual who is a member of the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB) or National Hockey League (NHL).
9. The REINSURER acknowledges that foreign travel policy application questions may not be used if prohibited by law.
10. The REINSURER has been supplied with the underwriting guidelines, preferred class and senior assessment documents. The CEDING COMPANY will promptly notify the REINSURER in advance Agreement regardless of any proposed material changes to its underwriting guidelines, preferred class and senior assessment documents affecting business applicable to this AGREEMENTfuture amounts of coverage placed in force on that life.
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Automatic Coverage. A. Reinsurance hereunder 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 automatically 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 excess insured life causes the Automatic Binding Limits to be exceeded for that life, no portion of retention basis as shown that new Policy is eligible for reinsurance under this Agreement unless specifically agreed to in Exhibits A, B and D, and will be reported to writing by the REINSURER according to the terms in Exhibit E.REINSURER;
B. The CEDING COMPANY may cede and the REINSURER will automatically accept reinsurance, if all of the following conditions are met for each life:
15. The CEDING COMPANY has retained its maximum limit of per life risk retention on the Policy (as shown defined in Exhibit A.
2. The Policy Plans reinsured are shown in Exhibit B.
3. The total ultimate amount of reinsurance and the amount already reinsured Schedule A) or has collectively used its full retention on that life by under the CEDING COMPANY does not exceed the Automatic Binding Limits as shown in Exhibit D.Policy and under previously issued in-force Policies on that life;
46. The sum of the amount of insurance already in force (a) and applied for on that life, in all companies, (b) does not exceed the Jumbo Limits as shown Limit stated in Exhibit D.Schedule A, where
5(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 not made facultative application on never submitted any portion of the current life risk(s) to be reinsured hereunder to any reinsurer within the last five (5) years unless the reason for prior facultative submission was solely for capacity that may now be accommodated within the terms of this AGREEMENT, or unless the case was issued and reinsured standard or subsequently rerated to standard.reinsurance; and
68. The risk insured is a permanent resident of the United StatesStates or its territories, Canada, Puerto Rico or Guam. Please refer to Exhibit H for International risks.
7. The CEDING COMPANY applies the underwriting guidelines, practices and procedures for risk selection identified by the CEDING COMPANY is a person that resides in the questionnaire titled “Underwriting GuidelinesUnited States or its territories on a permanent basis, Practices for at least the preceding 12 months, and Procedures”. The Reinsurer must consent intends to continue residing in writing to any material changes to these underwriting guidelinesthe United States or its territories on a permanent basis, practices and procedures.
8. The application but is not on the life of a citizen and does not yet have an individual who is a member of the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB) or National Hockey League (NHL)alien registration receipt card.
9. The REINSURER acknowledges that foreign travel policy application questions may not be used if prohibited by law.
10. The REINSURER has been supplied with the underwriting guidelines, preferred class and senior assessment documents. The CEDING COMPANY will promptly notify the REINSURER in advance of any proposed material changes to its underwriting guidelines, preferred class and senior assessment documents affecting business applicable to this AGREEMENT.
Appears in 1 contract
Samples: Automatic Yearly Renewable Term Agreement (Farmers Variable Life Separate Account A)
Automatic Coverage. A. Reinsurance hereunder 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 automatically 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 III;
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 excess insured life causes the Automatic Binding Limits to be exceeded for that life, no portion of retention basis as shown that new Policy is eligible for reinsurance under this Agreement unless specifically agreed to in Exhibits A, B and D, and will be reported to writing by the REINSURER according to the terms in Exhibit E.REINSURER;
B. The CEDING COMPANY may cede and the REINSURER will automatically accept reinsurance, if all of the following conditions are met for each life:
15. The CEDING COMPANY has retained its maximum limit of per life risk retention on the Policy (as shown defined in Exhibit A.
2. The Policy Plans reinsured are shown in Exhibit B.
3. The total ultimate amount of reinsurance and the amount already reinsured Schedule A) or has collectively used its full retention on that life by under the CEDING COMPANY does not exceed the Automatic Binding Limits as shown in Exhibit D.Policy and under previously issued in-force Policies on that life;
46. The sum of the amount of insurance already in force (a) and applied for on that life, in all companies, (b) does not exceed the Jumbo Limits as shown Limit stated in Exhibit D.Schedule A, where
5(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. 08-004-TL Page 1 Coverage Effective 9-01-08
7. The CEDING COMPANY has not made facultative application on never submitted any portion of the current life risk(s) to be reinsured hereunder to any reinsurer within the last five (5) years unless the reason for prior facultative submission was solely for capacity that may now be accommodated within the terms of this AGREEMENT, or unless the case was issued and reinsured standard or subsequently rerated to standard.reinsurance; and
68. The risk insured is a permanent resident of the United StatesStates or its territories, Canada, Puerto Rico or Guam. Please refer to Exhibit H for International risks.
7. The CEDING COMPANY applies the underwriting guidelines, practices and procedures for risk selection identified by the CEDING COMPANY is a person that resides in the questionnaire titled “Underwriting GuidelinesUnited States or its territories on a permanent basis, Practices for at least the preceding 12 months, and Procedures”. The Reinsurer must consent intends to continue residing in writing to any material changes to these underwriting guidelinesthe United States or its territories on a permanent basis, practices and procedures.
8. The application but is not on the life of a citizen and does not yet have an individual who is a member of the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB) or National Hockey League (NHL)alien registration receipt card.
9. The REINSURER acknowledges that foreign travel policy application questions may not be used if prohibited by law.
10. The REINSURER has been supplied with the underwriting guidelines, preferred class and senior assessment documents. The CEDING COMPANY will promptly notify the REINSURER in advance of any proposed material changes to its underwriting guidelines, preferred class and senior assessment documents affecting business applicable to this AGREEMENT.
Appears in 1 contract
Samples: Automatic Yearly Renewable Term Agreement (Farmers Variable Life Separate Account A)
