Common use of Facultative Application For Reinsurance Clause in Contracts

Facultative Application For Reinsurance. When facultative reinsurance is being applied for, THE COMPANY shall complete a Reinsurance Application Form provided by INVESTORS HERITAGE (SCHEDULE E, PART 1) and send it along with any and all information it has on the risk; including specifically but not limited to, copies of the physicians’ statements, inspection reports, and other papers bearing on the insurability of the risk, even if this information is received after the final assessment of the risk. THE COMPANY shall clearly indicate the amount of risk it wishes to reinsure, including any benefit. Upon completion of underwriting, INVESTORS HERITAGE shall promptly notify THE COMPANY of its decision and classification of the risk. Any offer made by INVESTORS HERITAGE will be valid for 90 days unless INVESTORS HERITAGE accepts, in writing, a request to extend this period. A. Upon acceptance of INVESTORS HERITAGE’s offer of facultative Reinsurance, THE COMPANY shall complete and send to INVESTORS HERITAGE a Reinsurance Advice Notice (SCHEDULE E, PART 2). B. When the initial premium on a policy that involves facultative reinsurance is received by THE COMPANY, THE COMPANY will complete the same procedure as for Automatic Reinsurance in Article 2.1. C. If THE COMPANY does not accept INVESTORS HERITAGE’s offer for reinsurance, THE COMPANY shall complete and send to INVESTORS HERITAGE a Reinsurance Advice Notice (SCHEDULE E, PART 2).

Facultative Application For Reinsurance. When facultative reinsurance is being applied for, THE COMPANY shall complete a Reinsurance Application Form provided by INVESTORS HERITAGE OPTIMUM RE (SCHEDULE E, PART 1) and send it along with any and all information it has on the risk; including specifically but not limited to, copies of the physicians’ statements, inspection reports, and other papers bearing on the insurability of the risk, even if this information is received after the final assessment of the risk. THE COMPANY shall clearly indicate the amount of risk it wishes to reinsure, including any benefit. Upon completion of underwriting, INVESTORS HERITAGE OPTIMUM RE shall promptly notify THE COMPANY of its decision and classification of the risk. Any offer made by INVESTORS HERITAGE OPTIMUM RE will be valid for 90 days unless INVESTORS HERITAGE OPTIMUM RE accepts, in writing, a request to extend this period. A. Upon acceptance of INVESTORS HERITAGEOPTIMUM RE’s offer of facultative Reinsurance, THE COMPANY shall complete and send to INVESTORS HERITAGE OPTIMUM RE a Reinsurance Advice Notice (SCHEDULE E, PART 2). B. When the initial premium on a policy that involves facultative reinsurance is received by THE COMPANY, THE COMPANY will complete the same procedure as for Automatic Reinsurance in Article 2.1. C. If THE COMPANY does not accept INVESTORS HERITAGEOPTIMUM RE’s offer for reinsurance, THE COMPANY shall complete and send to INVESTORS HERITAGE OPTIMUM RE a Reinsurance Advice Notice (SCHEDULE E, PART 2).

Facultative Application For Reinsurance. When facultative reinsurance is being applied for, THE COMPANY shall complete a Reinsurance Application Form provided by INVESTORS HERITAGE (SCHEDULE E, PART 1) and send it along with any and all information it has on the risk; including specifically but not limited to, copies of the physicians’ ' statements, inspection reports, and other papers bearing on the insurability of the risk, even if this information is received after the final assessment of the risk. THE COMPANY shall clearly indicate the amount of risk it wishes to reinsure, including any benefitriders and/or supplementary benefits. Upon completion of underwriting, INVESTORS HERITAGE OPTIMUM RE shall promptly notify THE COMPANY of its decision and classification of the risk. Any offer made by INVESTORS HERITAGE OPTIMUM RE will be valid for 90 days one hundred and twenty (120) calendar days, unless INVESTORS HERITAGE accepts, in writing, OPTIMUM RE accepts a written request to extend this the offer period. A. Upon acceptance of INVESTORS HERITAGE’s OPTIMUM RE's offer of facultative Reinsurance, THE COMPANY shall complete and send to INVESTORS HERITAGE OPTIMUM RE a Reinsurance Advice Notice (SCHEDULE E, PART 2)Notice. B. When the initial premium on a policy that involves facultative reinsurance is received by THE COMPANY, THE COMPANY will complete the same procedure as for Automatic Reinsurance in Article 2.12. C. 1. If THE COMPANY does OPTIMUM RE doesn't receive a written request to extend the offer period, the facultative offer will expire at the end of 120 days and there will not accept INVESTORS HERITAGE’s offer for reinsurance, THE COMPANY shall complete and send to INVESTORS HERITAGE a Reinsurance Advice Notice (SCHEDULE E, PART 2)be any reinsurance on the risk.

Facultative Application For Reinsurance. When facultative reinsurance is being applied for, THE COMPANY shall complete a Reinsurance Application Form provided by INVESTORS HERITAGE OPTIMUM RE (SCHEDULE EF, PART 1) and send it along with any and all information it has on the risk; including specifically but not limited to, copies of the physicians’ ' statements, inspection reports, and other papers bearing on the insurability of the risk, even if this information is received after the final assessment of the risk. THE COMPANY shall clearly indicate the amount of risk it wishes to reinsure, including any benefit. Upon completion of underwriting, INVESTORS HERITAGE OPTIMUM RE shall promptly notify THE COMPANY of its decision and classification of the risk. Any offer made by INVESTORS HERITAGE OPTIMUM RE will be valid for 90 days unless INVESTORS HERITAGE OPTIMUM RE accepts, in writing, a request to extend this period. A. Upon acceptance of INVESTORS HERITAGE’s OPTIMUM RE's offer of facultative Reinsurance, THE COMPANY shall complete and send to INVESTORS HERITAGE OPTIMUM RE a Reinsurance Advice Notice (SCHEDULE EF, PART 2). B. When the initial premium on a policy that involves facultative reinsurance is received by THE COMPANY, THE COMPANY will complete the same procedure as for Automatic Reinsurance in Article 2.1. C. If THE COMPANY does not accept INVESTORS HERITAGE’s OPTIMUM RE's offer for reinsurance, THE COMPANY shall complete and send to INVESTORS HERITAGE OPTIMUM RE a Reinsurance Advice Notice (SCHEDULE EF, PART 2).