Common use of CONVENTIONAL UNDERWRITING Clause in Contracts

CONVENTIONAL UNDERWRITING. Automatic reinsurance applies only to insurance applications underwritten by CEDING COMPANY with conventional underwriting and issue practices that are consistently applied. Conventional underwriting and issue practices are those customarily used and generally accepted by life insurance companies. Some examples of non-customary underwriting practices that are not accepted for automatic reinsurance under this Agreement are guaranteed issue, any form of simplified underwriting, short-form applications, or any form of non-customary, non-medical underwriting limits. An example of an unacceptable issue practice is the issuance of a policy that has contestability or suicide clauses with time limitations that are shorter than the maximum allowed by state law. Automatic reinsurance will also be available for policies issued pursuant to an internal replacement or exchange when issued and underwritten in accordance with CEDING COMPANY's Underwriting Guidelines for Internal Replacements which are set forth in Exhibit I to this Agreement.

CONVENTIONAL UNDERWRITING. Automatic reinsurance applies only to insurance applications underwritten by CEDING COMPANY with conventional underwriting and issue practices that are consistently applied. Conventional underwriting and issue practices are those customarily used and generally accepted by life insurance companies. Some examples of non-customary underwriting practices that are not accepted for automatic reinsurance under this Agreement are guaranteed issue, any form of simplified underwriting, short-form applications, or any form of non-customary, non-medical underwriting limits. An example of an unacceptable issue practice is the issuance of a policy that has contestability or suicide clauses with time limitations that are shorter than the maximum allowed by state law. Automatic reinsurance will also be available for policies issued pursuant to an internal replacement or exchange when issued and underwritten in accordance with CEDING COMPANY's 'S Underwriting Guidelines for Internal Replacements which are set forth in Exhibit I to this Agreement.