FLAT EXTRA ALLOWANCES Clause Samples
The "Flat Extra Allowances" clause establishes an additional fixed premium amount that is charged on top of the standard insurance premium, typically due to increased risk factors associated with the insured individual. In practice, this extra charge is applied per unit of coverage (such as per $1,000 of insurance) and is often used when the insured has a specific health condition, occupation, or lifestyle that elevates their risk profile. The core function of this clause is to allow insurers to cover higher-risk individuals while appropriately compensating for the added risk, thereby ensuring the financial stability of the insurance pool.
FLAT EXTRA ALLOWANCES. The flat extra premium paid to the Reinsurer will be the annual flat extra rate which the Ceding Company charges the insured less the allowances below times the Reinsured Net Amount at Risk. DURATION OF FLAT EXTRA FIRST YEAR RENEWAL YEARS -------------------------------------------------------------------------------- Less than 5 years [Redacted] [Redacted] 5 years or more
FLAT EXTRA ALLOWANCES. The flat extra premium paid to the Reinsurer will be the annual flat extra rate which the Ceding Company charges the insured less the allowances below times the Reinsured Net Amount at Risk. Duration of Flat First Year Renewal Years Extra Less than 5 years [Redacted] [Redacted] 5 years or more 4. RIDERS Term riders, cost of living riders, and other riders providing additional or increasing coverage will use the same methods and YRT rates as the base plan. Waiver of premium rates are attached and are per dollar of annualized amount. Deduction amount waiver rates (also called "waiver of monthly deductions") are attached, and the charge for this benefit is a rate times the monthly deduction amount. Our retention on both types of waivers is proportional to our retention on the death benefit. . For both the Waiver of Premium and Waiver of Monthly Deduction, the reinsurance premium will be net of the following allowances: First Year Renewal Years [Redacted] [Redacted] Single Life Excess Pool Between HLIC and RGA Effective 11/01/2002 Fac / 12/01/2002 Auto EXHIBIT II SINGLE LIFE RETENTION, BINDING, AND TOTAL POOL ISSUE LIMITS (Applicable to Total Pool for Single Life Pool Business -- NOT LS, Custom Term, & Stag UL+) Effective November 1, 2002 RETENTION LIMIT [Redacted] AUTOMATIC BINDING LIMIT (EXCLUDES RETENTION) [Redacted] AUTOMATIC ISSUE LIMIT (INCLUDES RETENTION) [Redacted] AUTOMATIC PROCESSING LIMIT (INCLUDES RETENTION) [Redacted] FACULTATIVE OBLIGATORY AUTOMATIC BINDING LIMIT (EXCLUDES RETENTION) [Redacted] FACULTATIVE OBLIGATORY AUTOMATIC ISSUE LIMIT (INCLUDES RETENTION) [Redacted] JUMBO LIMIT [Redacted] Single Life Excess Pool Between HLIC and RGA Effective 11/01/2002 Fac / 12/01/2002 Auto EXHIBIT III Annual per 1000 Yearly Renewable Term reinsurance rates are attached. These rates are used for Automatic, Facultative Obligatory, and Facultative policies. Products Using Multi-class Rate Tables: [Redacted] Stag Protector Variable Universal Life Stag Accumulator Variable Universal Life Stag Universal Life Whole Life with Current Interest Life Insurance Policy Hartford Stag Wall Street Variable Universal Life Products Using Uni-class Rate Tables: [Redacted] LBSI UL Life Solutions I UL Life Solutions II UL 20 Year Term ART (CW) 5 & 10 Year Term (NY) SPVL One Year Term Single Life Excess Pool Between HLIC and RGA Effective 11/01/2002 Fac / 12/01/2002 Auto SINGLE LIFE 2002 MULTICLASS ANNUAL YRT PER 1000 REINSURANCE RATES [Redacted] Monthly Per 1000 Waiver of Speci...
FLAT EXTRA ALLOWANCES. The flat extra premium paid to the Reinsurer will be the annual flat extra rate which the Ceding Company charges the insured less the allowances below times the Reinsured Net Amount at Risk.