AUTOMATIC IN FORCE AND APPLIED FOR LIMIT. On any one life, the total amount of life insurance in force and applied for with all companies, of which CEDING COMPANY is aware, cannot exceed the Automatic In Force and Applied For Limit shown in Schedule A.
AUTOMATIC IN FORCE AND APPLIED FOR LIMIT. CEDING COMPANY may not cede reinsurance automatically if the sum of all amounts inforce and applied for on the same life in all companies, including amounts being replaced, exceed the following limits: ---------------------------------------------------------- Issue Ages Limit ---------------------------------------------------------- [ages] [dollar amount] ---------------------------------------------------------- [ages] [dollar amount] ---------------------------------------------------------- In comparing against Automatic Inforce and Applied For Limits:
a. Potential increases in Specified Amount of a reinsured policy pursuant to the Automatic Increasing Benefit Rider will not be included as amounts inforce or applied for, so long as the total of all increases to the Specified Amount of the Policy can not exceed [dollar amount].
b. If the risk is insured under, or has applied for, a joint life policy, the full joint life amount must be included.
AUTOMATIC IN FORCE AND APPLIED FOR LIMIT a. LIFE INSURANCE IN FORCE AND APPLIED FOR LIMIT: $25,000,000
AUTOMATIC IN FORCE AND APPLIED FOR LIMIT. On any one life, the total life insurance in force and applied for with all companies of which FORTIS BENEFITS is aware, cannot exceed the In Force and Applied For Limits as shown in Schedule A.
AUTOMATIC IN FORCE AND APPLIED FOR LIMIT. For fully underwritten policies, the total amount of life insurance in force and applied for with all companies, of which the Ceding Company is aware, must not exceed the In Force and Applied For Limit shown in Schedule A.
AUTOMATIC IN FORCE AND APPLIED FOR LIMIT. LIFE INSURANCE IN FORCE LIMIT: [Redacted]
AUTOMATIC IN FORCE AND APPLIED FOR LIMIT. The total amount of life insurance in force and applied for on any one life with all companies, of which the Ceding Company is aware, must not exceed the amounts set forth in the following table: ================================================== ==================== ==================================== Std-Table 6 Table 7 - 16 -------------------------------------------------- -------------------- ------------------------------------ New York Business [REDACTED] [REDACTED] ================================================== ==================== ====================================
AUTOMATIC IN FORCE AND APPLIED FOR LIMIT. CEDING COMPANY may not cede reinsurance automatically if the sum of all amounts inforce and applied for on the same life in all companies, including amounts being replaced, exceed the following limits: --------------------------------------------------- Issue Ages Limit --------------------------------------------------- [ages] [dollar amount] --------------------------------------------------- [ages] [dollar amount] --------------------------------------------------- In comparing against Automatic Inforce and Applied For Limits:
a. Potential increases in Specified Amount of a reinsured policy pursuant to the Automatic Increasing Benefit Rider will not be included as amounts inforce or applied for, so long as the total of all increases to the Specified Amount of the Policy can not exceed $750,000.
b. If the risk is insured under, or has applied for, a joint life policy, the full joint life amount must be included.
AUTOMATIC IN FORCE AND APPLIED FOR LIMIT. Life Insurance In Force and Applied For Limit: $25,000,000
AUTOMATIC IN FORCE AND APPLIED FOR LIMIT a. LIFE INSURANCE IN FORCE AND APPLIED FOR LIMIT: $25,000,000
1. PREMIUM DUE: Reinsurance premiums are due annually in advance. These premiums are due on the issue date and each subsequent policy anniversary. Reinsurance premiums are due within the first 15 days following the calendar quarter of the issue date and each subsequent policy anniversary. SCHEDULE A, CONTINUED
2. RECAPTURE PERIOD: Recapture is only allowed in accordance with Article 18.b of this Agreement. The minimum number of years for a cession to be reinsured before it is eligible for recapture pursuant to Article 18.b. is 10 years for single life plans, and 20 years for survivorship plans.
3. NET AMOUNT AT RISK: UNIVERSAL LIFE PLANS: For universal life policies the amount of reinsurance for any policy year is to be determined at the beginning of such year as the excess, if any, of the amount at risk over the retained risk. Once determined for a particular policy year, the amount of reinsurance shall be altered only if there is a policy change effected during the year. The Net Amount at Risk for purposes of this Agreement is the death benefit amount less the accumulated value of the policy. The retained risk for a policy is determined at the original issue date of the policy as agreed in the reinsurance cession. The net amount at risk on the policies and riders eligible for reinsurance under this Agreement, is defined below: OPTION A BASE POLICY: The net amount at risk is the death benefit minus the accumulation value, where the death benefit is the greater of the Face Amount or the minimum amount required under Section 7702 of the IRC.
