Common use of Automatic Coverage Clause in Contracts

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 if any affiliated reinsurance is not expected to adversely impact the experience on the business. 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 occur in a timely manner and this results in the new policy exceeding the jumbo limit, the REINSURER has the right (at the point when the REINSURER is made aware of the jumbo violation) to decline reinsurance on the new policy and refund all related premiums. If the REINSURER exercises this right, then the policy will not be ceded under this agreement. 4. The CEDING COMPANY has not, within three years prior to the date of application for the policy, made facultative application for reinsurance of the risk to the REINSURER or any other reinsurer unless the reason for any prior facultative submission was solely for capacity that may now be accommodated within the terms of this Agreement. 5. The insured(s) must be a permanent resident of the U.S. or Canada or a foreign national residing in a country shown in Schedule A. 6. The risk is conventionally underwritten by the CEDING COMPANY according to the CEDING COMPANY’S standard underwriting practices, including those related to HIV testing. The CEDING COMPANY will promptly notify the REINSURER in advance of any proposed material changes to its underwriting guidelines affecting business to which this Agreement applies. 7. The plan is listed in Schedule A. 8. The issuance and delivery of the insurance constituted the doing of business in a jurisdiction in which the CEDING COMPANY was properly licensed and the policy is authorized by the CEDING COMPANY’S corporate charter. 9. The policy is not known at the time of issue to be purchased as part of a premium financing program or third party investment program, unless such program has been approved in writing by the REINSURER. Knowledge of the CEDING COMPANY does not include knowledge of an agent except to the extent of information the agent actually reports to the company. C. The CEDING COMPANY will exclude classes of business from this automatic arrangement that fall outside the CEDING COMPANY’s policy issue criteria. D. Upon request, the CEDING COMPANY will provide the REINSURER copies of the application, underwriting papers and other information pertaining to any automatic cession under this Agreement.

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 a register 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 ’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 if any affiliated reinsurance is not expected to adversely impact the experience on the businesscalculation. 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. 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 occur in a timely manner and this results in the new policy exceeding the jumbo limit, the REINSURER has the right (at the point when the REINSURER is made aware of the jumbo violation) to decline reinsurance on the new policy and refund all related premiums. If the REINSURER exercises this right, then the policy will not be ceded under this agreement. 4. The CEDING COMPANY has not, within three years prior to the date of application for the policy, made facultative application for reinsurance of the risk to the REINSURER or any other reinsurer unless the reason for any prior facultative submission was solely for capacity that may now be accommodated within the terms of this Agreement. 5. The insured(s) must be a permanent resident of the U.S. or Canada or a foreign national residing in a country shown in Schedule A. 6. The risk is conventionally underwritten by the CEDING COMPANY according to the CEDING COMPANY’S standard underwriting practices, including those related to HIV testing. The CEDING COMPANY’s preferred criteria and age and amount requirements are attached in Schedule D. Any deviation from these materials shall require prior written approval by the REINSURER. The CEDING COMPANY will promptly notify the REINSURER in advance of any proposed material changes to its underwriting guidelines affecting business to which this Agreement applies. 7. The plan is listed in Schedule A. 8. The issuance and delivery of the insurance constituted the doing of business in a jurisdiction in which the CEDING COMPANY was properly licensed and the policy is authorized by the CEDING COMPANY’S corporate charter. 9. The policy is not known at the time of issue to be purchased as part of a premium financing program or third party investment program, unless such program has been approved in writing by the REINSURER. Knowledge of the CEDING COMPANY does not include knowledge of an agent except to the extent of information the agent actually reports to the company. C. The CEDING COMPANY will exclude classes of business from this automatic arrangement that fall outside the CEDING COMPANY’s policy issue criteria. D. Upon request, the CEDING COMPANY will provide the REINSURER copies of the application, underwriting papers and other information pertaining to any automatic cession under this Agreement.

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 AgreementAGREEMENT, 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 AgreementAGREEMENT, 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 if any affiliated reinsurance is not expected to adversely impact the experience on the businesscalculation. 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 AGREEMENT and all other agreements between the reinsurer REINSURER and the CEDING COMPANY, COMPANY does not exceed the Total Reinsurer 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 occur in a timely manner and this results in the new policy exceeding the jumbo limit, the REINSURER has the right (at the point when the REINSURER is made aware of the jumbo violation) to decline reinsurance on the new policy and refund all related premiums. If the REINSURER exercises this right, then the policy will not be ceded under this agreementAGREEMENT. 4. The CEDING COMPANY has not, within three years prior to the date of application for the policy, made facultative application for reinsurance of the risk to the REINSURER or any other reinsurer REINSURER unless the reason for any prior facultative submission was solely for capacity that may now be accommodated within the terms of this AgreementAGREEMENT. 5. The insured(s) must be a permanent resident of the U.S. or Canada or a foreign national residing in a country shown in Schedule A. 6. The risk is conventionally underwritten by the CEDING COMPANY according to the CEDING COMPANY’S standard underwriting practices, including those related to HIV testing. The CEDING COMPANY will promptly notify use the underwriting manual, preferred underwriting guidelines, age and amount requirements and internal underwriting exception guidelines specified in SCHEDULE C for business reinsured under this AGREEMENT. The CEDING COMPANY will provide the REINSURER in advance with thirty (30) days prior written notice of any proposed material changes to its underwriting guidelines affecting business to which this Agreement AGREEMENT applies. 7. The plan is listed in Schedule A. 8. The issuance and delivery of the insurance constituted the doing of business in a jurisdiction in which the CEDING COMPANY was properly licensed and the policy is authorized by the CEDING COMPANY’S corporate charter. 9. The policy is not known at the time of issue to be purchased as part of a premium financing program or third party investment program, unless such program has been approved in writing by the REINSURER. Knowledge of the CEDING COMPANY does not include knowledge of an agent except to the extent of information the agent actually reports to the company. C. The CEDING COMPANY will exclude classes of business from this automatic arrangement that fall outside the CEDING COMPANY’s ’S policy issue criteria. D. Upon request, the CEDING COMPANY will provide the REINSURER copies of the application, underwriting papers and other information pertaining to any automatic cession under this Agreement.

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 ’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 if any affiliated reinsurance is not expected to adversely impact the experience on the businesscalculation. Affiliates is are 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 occur in a timely manner and this results in the new policy exceeding the jumbo limit, the REINSURER has the right (at the point when the REINSURER is made aware of the jumbo violation) to decline reinsurance on the new policy and refund all related premiums. If the REINSURER exercises this right, then the policy will not be ceded under this agreement. 4. The CEDING COMPANY has not, within three years prior to the date of application for the policy, made facultative application for reinsurance of the risk to the REINSURER or any other reinsurer unless the reason for any prior facultative submission was solely for capacity that may now be accommodated within the terms of this Agreement. 5. The insured(s) must be a permanent resident of the U.S. or Canada or a foreign national residing in a country shown in Schedule A. 6. The risk is conventionally underwritten by the CEDING COMPANY according to the CEDING COMPANY’S standard underwriting practices, including those related to HIV testing. The CEDING COMPANY’s preferred criteria and age and amount requirements are attached in Schedule D. The CEDING COMPANY will promptly notify the REINSURER in advance of any proposed material changes to its underwriting guidelines affecting business to which this Agreement applies. 7. The plan is listed in Schedule A. 8. The issuance and delivery of the insurance constituted the doing of business in a jurisdiction in which the CEDING COMPANY was properly licensed and the policy is authorized by the CEDING COMPANY’S corporate charter. 9. The policy is not known at the time of issue to be purchased as part of a premium financing program or third party investment program, unless such program has been approved in writing by the REINSURER. Knowledge of the CEDING COMPANY does not include knowledge of an agent except to the extent of information the agent actually reports to the company. C. The CEDING COMPANY will exclude classes of business from this automatic arrangement that fall outside the CEDING COMPANY’s policy issue criteria. D. Upon request, the CEDING COMPANY will provide the REINSURER copies of the application, underwriting papers and other information pertaining to any automatic cession under this Agreement.