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.
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Samples: Automatic Reinsurance Agreement (Separate Account Fp of Equitable Life Assur Soc of the Us), Automatic Reinsurance Agreement (Separate Account Fp of Equitable Life Assur Soc of the Us), Automatic Reinsurance Agreement (Separate Account Fp of Equitable Life Assur Soc of the Us)
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 's percentage of participation in each risk ceded will be shown in Schedule B.A.
C. For each risk on which reinsurance is ceded under this agreement, the CEDING COMPANY will retain [ ]25% of the policy reinsured, Mortality Net Amount at Risk (MNAR) up to its full published retention maximum levels as shown in Exhibit III at Schedule B and supported by Investment funds listed in Schedule E and its Amendments, that were reviewed by the time of issue, taking into account both currently issued and previously issued policiesREINSURER prior to their issuance.
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 policies ceded are Single Premium Variable Universal Life (SPVUL) as described in Schedule B and supported by the Investment funds listed in Schedule E and its Amendments, that were received by the REINSURER prior to their issuance.
2. The amount does not exceed the automatic binding limits shown in Schedule B.A.
23. 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.A.
4. The CEDING COMPANY has not, within three years of the date of application of the risk, not made facultative application for reinsurance of the current risk to the 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.. (see Schedule C)
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 States or residents of countries as shown in Schedule D.Canada.
87. The mortality rating on each individual risk must not exceed Table [ ] 16, Table P, 500% or its equivalent on a flat extra premium basis ($20 flat extra) for single life policies.
9. The issuance and delivery of For second to die policies, the policy is in compliance with mortality rating cannot exceed the laws of all applicable jurisdictions and the CEDING COMPANY's corporate charter.following:
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Samples: Automatic Reinsurance Agreement (Vel Ii Account of Allmerica Financial Life Ins & Ann Co)