Contractual Increases. For policies reinsured on an automatic basis, reinsurance of increases in amount resulting from contractual policy provisions will be accepted only up to the Automatic Binding Limits shown in Exhibit B. For policies reinsured on a facultative basis, reinsurance will be limited to the ultimate amount shown in the Reinsurer's facultative offer. Reinsurance premiums for contractual increases will be on a point-in-scale basis from the original issue age of the policy.
Contractual Increases. Increases in the Net Amount at Risk of the Base Policy caused by an Automatic Increasing Benefit Rider shall be reinsured as described in Article 5 without regard to the Automatic Binding Limits or the Jumbo Limits shown in Exhibit B, provided that the total of all such increases to the Specified Amount of a single policy does not exceed seven hundred fifty thousand dollars ($750,000).
Contractual Increases. For policies reinsured on an automatic basis, reinsurance of increases in amount resulting from contractual policy provisions will be accepted only up to the Automatic Binding Limits shown in Exhibit C.
Contractual Increases. Pool Reinsurers shall assume increases in risk of reinsured policies arising through contractual provisions, including but not limited to, additional premium deposits, scheduled increases in coverage, and corridor risk amounts on variable insurance contracts.
Contractual Increases. If the amount of life insurance on a Policy is increased, where, (a) the increase is not subject to new underwriting evidence in accordance with the Company’s normal underwriting standards and practices, and (b) the maximum amount of increase was known at the time of issue of the Policy, the increase shall be Automatically reinsured, provided that the new amount does not exceed the Automatic Issue Limits specified in Schedule C, “Reinsurance Limits”. The Company and the Reinsurer will generally share the increased amount proportionately. For Facultative cases, the Company and the Reinsurer will mutually agree on the reinsurance and the reporting of the increased amount. Any other contractual increase not subject to new underwriting shall not be reinsured under this Agreement. The Company shall provide the Reinsurer with the Ultimate Amount of insurance applied for on a Policy.
Contractual Increases. Reinsurance of increases in amount resulting from contractual policy provisions will be based on the issue age, mortality rating, underwriting class and duration from issue of the Original Policy. The Ceding Company and the Reinsurer will share the increased amount proportionately. If the reinsurance is Automatic, the amount of reinsurance must not exceed the Automatic Binding or Jumbo Limits shown in Exhibit C. If the reinsurance is Facultative, the amount of reinsurance must not exceed the Ultimate Amount included in the Facultative offer. Any change in the Policy Net Amount at Risk due to changes in the policy’s cash value or account value will be shared proportionately between the Ceding Company and all reinsurers.
Contractual Increases. 15 Effective October 1, 2021, increase step schedule by the increase provided to nurses 16 employed by Legacy Emanuel Hospital and Health Services. 17 Effective October 1, 2022, increase step schedule by the increase provided to nurses 18 employed by Legacy Emanuel Hospital and Health Services. 19 Effective October 1, 2023, increase step schedule by the increase provided to nurses 20 employed by Legacy Emanuel Hospital and Health Services.
Contractual Increases. Effective 6/1/08 – 4% Effective 6/1/09 – 4% There will be an additional payment equal to 0.10% payable on the last day of the contract, May 31, 2010, which will support one-time lump sum payment of $1,000 to individuals in staff and classroom assistant titles with twenty-five (25) or more years of service as of that date.
Contractual Increases. Reinsurance premium rates for contractual increases such as AIR and GIO will be at an attained age and duration basis. Increases as a consequence of the Company’s automatic increase option on its pension policies are discussed in Exhibit C-I. If an increase results in a rate band change, it is understood that the original base amount will be maintained on the original band rates, however the increased portion that crosses over to a higher band will be on the higher band rates.
Contractual Increases. For Policies reinsured on an automatic basis, reinsurance of increases in amount resulting from contractual Policy provisions, including Policies with increasing net amount at risk (such as Return of Premium Death Benefit Option, Increasing Term Riders, Cost of Living Adjustment Riders (“INAR”), if any, will be accepted only up to Munich Re, U.S. (Life)’s proportionate share of the Automatic Binding Limits shown in Exhibit B. All Policies with INAR will require an ultimate amount to be defined at Policy issuance and will be the death benefit at the maximum attained age as shown under current values in the Policy illustration. Underwriting requirements of Policies with INAR will be based upon this ultimate amount. If the actual death benefit on an INAR policy on a given life exceeds the Automatic Binding Limit, the Ceding Company will be on the risk for any and all amounts in excess of the Automatic Binding Limit unless alternative arrangements are made at that time. For Policies reinsured on a facultative basis, reinsurance will be limited to the ultimate amount shown in Munich Re, U.S. (Life)’s facultative offer. Reinsurance premiums for contractual increases will be on a point-in-scale basis from the original issue age of the Policy.
