Common use of FORMS, MANUAL, ISSUE RULES AND CLAIMS PRACTICES Clause in Contracts

FORMS, MANUAL, ISSUE RULES AND CLAIMS PRACTICES. The Ceding Company affirms that it has supplied the Reinsurer with the underwriting guidelines, issue rules and policy forms in use as of the Effective Date of this Agreement for the policies reinsured hereunder. Further, the Ceding Company affirms that it follows claims handling practices and procedures which are standard and customary to the life insurance industry. The Ceding Company will promptly notify the Reinsurer of any proposed Material Changes in its underwriting guidelines, issue rules, policy forms and claims practices and procedures. This Agreement will not extend to policies issued pursuant to a Material Change unless the Reinsurer has consented in writing to accept policies subject to the Material Change. It is the Ceding Company’s responsibility to ensure that its practice and applicable forms are in compliance with current Medical Information Bureau (MIB) guidelines.

Appears in 3 contracts

Samples: Yrt Reinsurance Agreement (Farmers Variable Life Separate Account A), Guaranteed Issue and Fully Underwritten (COLI VUL-4 Series Account of First Great-West Life & Annuity Insurance CO), Yrt Reinsurance Agreement (Farmers Variable Life Separate Account A)

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FORMS, MANUAL, ISSUE RULES AND CLAIMS PRACTICES. The Ceding Company affirms that it has supplied the Reinsurer with the underwriting guidelines, issue rules and policy forms in use as of the Effective Date of this Agreement for the policies reinsured hereunder. Further, the Ceding Company affirms that it follows claims handling practices and procedures which are standard and customary to the life insurance industry. The Ceding Company will promptly notify the Reinsurer of any proposed Material Changes in its underwriting guidelines, issue rules, policy forms and claims practices and procedures. This Agreement will not extend to policies issued pursuant to a Material Change unless the Reinsurer has consented in writing to accept policies subject to the Material Change. It is the Ceding Company’s 's responsibility to ensure that its practice and applicable forms are in compliance with current Medical Information Bureau (MIB) guidelines.

Appears in 1 contract

Samples: Reinsurance Agreement (Nationwide VLI Separate Account-7)

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FORMS, MANUAL, ISSUE RULES AND CLAIMS PRACTICES. The Ceding Company affirms that it has supplied the Reinsurer with the underwriting guidelines, issue rules and policy forms in use as of the Effective Date of this Agreement for applicable to the policies reinsured hereunderunder this Agreement. Further, the Ceding Company affirms that it follows claims handling practices Practices and procedures which are standard and customary to the life insurance industry. The Ceding Company will promptly notify the Reinsurer of any proposed Material Changes in its underwriting guidelines, issue rules, policy forms and claims practices and procedures. This Agreement will not extend to policies issued pursuant to a Material Change unless the Reinsurer has consented in writing to accept policies subject to the Material Change. It is the Ceding Company’s responsibility to ensure that its practice and applicable forms are in compliance compliancy with current Medical Information Bureau (MIBMlB) guidelines.

Appears in 1 contract

Samples: Ance Agreement (Farmers Variable Life Separate Account A)

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