Common use of Automatic Reinsurance Coverage and Cessions Clause in Contracts

Automatic Reinsurance Coverage and Cessions. The Reinsurer shall automatically accept its share of the risks under the Covered Policies as described in the exhibits of this Agreement, provided that all of the following conditions are met at the time the Covered Policy is issued: (a) The Company retains its quota share in accordance with the limits set forth in Exhibit B; (b) The Company follows the Underwriting Requirements For Automatic Reinsurance set forth in Exhibit H; (c) The Jumbo Limit is not exceeded; (d) The ultimate amount to be reinsured with respect to an insured life under this Agreement in addition to the amount already reinsured with respect to such insured life, does not exceed the Reinsurer’s Automatic Acceptance Limits; and (e) The application is on a relevant insured life that has not been submitted on a facultative basis by the Company to the Reinsurer or any other reinsurer within the last three (3) years, unless the reason for such prior submission(s) on a facultative basis no longer applies. For the purposes of this Agreement, “ultimate amount” will mean the projected maximum face amount at the time of underwriting, based on scheduled contractual increases, that may be anticipated based on reasonable assumptions made about the policy. The Company shall report to the Reinsurer all automatic cessions in the periodic reports described in Exhibit F. The Company shall send copies of the application, underwriting papers and other pertinent papers for an automatic cession on any insured life upon request from the Reinsurer.

Automatic Reinsurance Coverage and Cessions. The Reinsurer shall automatically accept its share of the risks under the Covered Policies as described in the exhibits of this Agreement, provided that all of the following conditions are met at the time the Covered Policy is issued: (a) The Company retains its quota share in accordance with the limits set forth in Exhibit B; (b) The Company follows the Underwriting Requirements For Automatic Reinsurance set forth in Exhibit H; (c) The Jumbo Limit is not exceeded; (d) The ultimate amount to be reinsured with respect to an insured life under this Agreement in addition to the amount already reinsured with respect to such insured life, does not exceed the Reinsurer’s Automatic Acceptance Limits; and (e) The application is on a relevant insured life that has not been submitted on a facultative basis by the Company to the Reinsurer or any other reinsurer within the last three (3) years, unless the reason for such prior submission(s) on a facultative basis no longer applies. For the purposes of this Agreement, “ultimate amount” will mean the projected maximum face amount at the time of underwriting, based on scheduled contractual increases, that may be anticipated based on reasonable assumptions made about the policy. The Company shall report to the Reinsurer all automatic cessions in the periodic reports described in Exhibit F. The Company shall send copies of the application, underwriting papers and other pertinent papers for an automatic cession on any insured life upon request from the Reinsurer.

Automatic Reinsurance Coverage and Cessions. The Reinsurer shall automatically accept its share of the risks under the Covered Policies as described in the exhibits of this Agreement, provided that all of the following conditions are met at the time the Covered Policy is issued: (a) The Company retains its quota share in accordance with the limits set forth in Exhibit B; (b) The Company follows the Underwriting Requirements For for Automatic Reinsurance set forth in Exhibit H; (c) The Jumbo Limit is not exceeded; (d) The ultimate amount to be reinsured with respect to an insured life under this Agreement in addition to the amount already reinsured by the Company to the Reinsurer with respect to such insured life, does not exceed the Reinsurer’s Automatic Acceptance Limits; and (e) The application is on a relevant insured life that has not been submitted on a facultative basis by the Company to the Reinsurer or any other reinsurer within the last three (3) years, unless the reason for such prior submission(s) on a facultative basis no longer applies. For the purposes of this AgreementArticle, “ultimate amount” will mean to the best of the Company’s knowledge, the projected maximum face amount at the time of underwriting, based on scheduled contractual increases, that may be is anticipated based on reasonable assumptions made about the policy. The Company shall report to the Reinsurer all automatic cessions in the periodic reports described in Exhibit F. The Company shall send copies of the application, underwriting papers and other pertinent papers for an automatic cession on any insured life upon request from the Reinsurer.

Automatic Reinsurance Coverage and Cessions. The Reinsurer shall automatically accept its share of the risks under the Covered Policies as described in the exhibits of this Agreement, provided that all of the following conditions are met at the time the Covered Policy is issued: (a) The Company retains its quota share in accordance with the limits set forth in Exhibit BB or otherwise holds its full retention on a life under previously issued in-force policies; (b) The Company follows the Underwriting Requirements For for Automatic Reinsurance set forth in Exhibit H; (c) The Jumbo Limit is not exceeded; (d) The ultimate amount to be reinsured with respect to an insured life under this Agreement in addition to the amount already reinsured by the Company to the Reinsurer with respect to such insured life, does not exceed the Reinsurer’s Automatic Acceptance Limits; and (e) The application is on a relevant insured life that has not been submitted on a facultative basis by the Company to the Reinsurer or any other reinsurer within the last three (3) years, unless the reason for such prior submission(s) on a facultative basis no longer applies. For the purposes of this AgreementArticle, “ultimate amount” will mean to the best of the Company’s knowledge, the projected maximum face amount at the time of underwriting, based on scheduled contractual increases, that may be is anticipated based on reasonable assumptions made about the policy. The Company shall report to the Reinsurer all automatic cessions in the periodic reports described in Exhibit F. The Company shall send copies of the application, underwriting papers and other pertinent papers for an automatic cession on any insured life upon request from the Reinsurer.