GENERAL STATEMENT SPECIFICATIONS Clause Samples

GENERAL STATEMENT SPECIFICATIONS. The data requirements listed below represent a general outline of the information that the Ceding Company will provide to the Reinsurer so that the Reinsurer may properly administer the reinsurance business ceded under this Agreement. Depending upon the exact nature of the reinsurance arrangement, not all references below may apply and/or additional information may be required. a. The following information should appear on the transaction statements for each benefit to be reinsured and for each insured, including all insureds on a joint policy: Ceding Company identifier Policy number Policy issue date Reinsurance effective date Policy application date, If used to determine treaty eligibility Transaction type code (New Business, Renewal, Conversion, Termination, etc.) Business Source/Issue type code (New Business, Continuation, etc.) Effective date of any policy change, reissue or termination Name of each insured Date of birth of each Insured Issue age of each insured Gender of each insured Mortality rating of each insured Underwriting classification of each insured Underwriting method {Accelerated, Fully Underwritten, Guaranteed, Modified, Simplified) Smoking class of each insured Automatic or Facultatlve Indicator YRT Indicator Plan code Treaty pointer Original face amount of the policy Amount ceded to the Reinsurer Ultimate Amount, if applicable Amount of premium being paid, separated for supplementary benefits Amount of reinsurance premium allowances, if any Policy fee, if any Flat Extra premium and number of years payable Joint policy indicator b. The Ceding Company will send the Reinsurer an n force report. The following information should appear on the n force file for each benefit to be reinsured and for each insured, including all insureds on a joint policy: