JUMBO LIMIT. For any policy to be reinsured under automatic reinsurance, the total amount of insurance in force and applied for in all companies shall not exceed the Jumbo Limit as shown in Schedule A.
JUMBO LIMIT. For any policy to be reinsured under automatic reinsurance, the total amount of insurance in force and applied for in all companies will not exceed the following amounts: US/Canadian Residents- No Foreign Travel $50,000,000 for all ages and rating classes. US/Canadian Residents - Foreign Travel $35,000,000 for issue ages through age 75 and rating classes through class E. $0 for issue ages over 75 or rating classes higher than E. Non US/Canadian Residents $35,000,000 for issue ages through age 75 and rating classes through class E. $0 for issue ages over 75 or rating classes higher than E.
JUMBO LIMIT. 5 f. MINIMUM CESSION.................................................................................. 5 g.
JUMBO LIMIT. For any policy to be reinsured under automatic reinsurance, the total amount of insurance in force and applied for in all companies will not exceed the amounts in the following tables: When determining the amount inforce, any amounts to be replaced are to be included except for an existing policy that is to be replaced, with or without a 1035 exchange, where THE COMPANY has received and placed in its underwriting files an acceptable absolute assignment form. Note: When a policy is reinsured under automatic reinsurance and the total amount in force and applied for in all companies exceeds $40,000,000, THE REINSURER must be notified and THE COMPANY shall provide the amount being issued.
JUMBO LIMIT. For any policy to be reinsured under automatic reinsurance, the total amount of insurance in force and applied for in all companies will not exceed the amounts in the following tables:
JUMBO LIMIT. Life $30,000,000 - Ages 0-70, Standard-Table 16 $30,000,000 - Ages 71-75, Standard-Table 8 $ 3,000,000 - Ages 76-85, Standard-Table 8 B. Disability Waiver of Premium $ 7,500,000 C. Accidental Death (Including Ages Amount Common Carrier) ----- -------- 0-4 -0- 5-15 $ 50,000 16-65 300,000 SCHEDULE A CONTINUES . . .
JUMBO LIMIT. For any policy to be reinsured under automatic reinsurance, the total amount of insurance in force and applied for in all companies will not exceed the following amounts: US/Canadian Residents- No Foreign Travel --------------------- ---------------------- ------------------ ------------------- No Substandard Rating Class A - D Class E - H --------------------- ---------------------- ------------------ ------------------- ----------- --------- ---------------------- ------------------ ------------------- Ages: 0 - 90 $70,000,000 $70,000,000 $70,000,000 ----------- --------- ---------------------- ------------------ ------------------- Note: When a policy is reinsured under automatic reinsurance and the total amount in force and applied for in all companies exceeds $50,000,000, THE REINSURER must be notified and THE COMPANY shall provide the amount being issued. US/Canadian Residents - Foreign Travel --------------------- --------------------- ------------------- ------------------- Preferred Best Class A - E Class E - H --------------------- --------------------- ------------------- ------------------- ----------- --------- --------------------- ------------------- ------------------- Ages: 0 - 75 $35,000,000 $35,000,000 None ----------- --------- --------------------- ------------------- ------------------- ----------- --------- --------------------- ------------------- ------------------- 76 - 90 None None Xxxx ----------- --------- --------------------- ------------------- -------------------
JUMBO LIMIT. The Jumbo Limit will now be . Where the Jumbo Limit is defined inforce and applied for, and applications are signed by the policyholder. .
JUMBO LIMIT. For any policy to be reinsured under automatic reinsurance, the total amount of insurance in force and applied for in all companies, of which THE COMPANY is aware, shall not exceed the Jumbo Limit as shown in Schedule A. After a policy has been issued, THE COMPANY may subsequently find that the amount in force and applied for at the time of application was incorrect and that this caused the policy to exceed the Jumbo Limit. If THE COMPANY has conducted a diligent search at the time of application which indicated that the then “known” amount of life insurance in force in all companies, including all pending formal applications and increasing ultimate amounts on the applicant’s life in all companies, did not exceed the “Jumbo Limit” as shown in Schedule A, THE REINSURER will provide reinsurance coverage on a “facultative obligatory” basis (i.e., coverage in the amount of THE REINSURER’s retention remaining after deduction of the ultimate amount of other coverage for the applicant’s life). Further, THE REINSURER will undertake commercially reasonable efforts to procure additional amounts of reinsurance coverage sufficient to meet the amount applied for.
JUMBO LIMIT. For any policy to be reinsured under automatic reinsurance, the total amount of insurance in force and applied for in all companies will not exceed the following amounts: Ages: 0 – 80 $65,000,000 $65,000,000 81-85 $30,000,000 $30,000,000 86-90 $10,000,000 $10,000,000 Note: When a policy is reinsured under automatic reinsurance and the total amount in force and applied for in all companies exceeds $50,000,000, THE REINSURER must be notified and THE COMPANY shall provide the amount being issued. Ages: 0 – 75 $35,000,000 None 00 - 00 Xxxx Xxxx Ages: 0 – 75 $35,000,000 None 00 - 00 Xxxx Xxxx • SCHEDULE A, Section 9, RESERVES FOR REINSURANCE, shall be replaced by the following: For 20% of each policy reinsured, the reinsurance reserve is the one-year term reserve. For 10% of each policy reinsured, the reinsurance reserve is the one-month term reserve. These reserves will be calculated using 1980 CSO ultimate mortality and 4 ½ % interest. • SCHEDULE B, Section 1, STANDARD ANNUAL REINSURANCE PREMIUMS, shall be replaced by the following: THE REINSURER receives premiums on an annual basis for all UL-VUL II policies, ProFunds policies, and VUL 2004 policies issued prior to January 1, 2005. For VUL 2004 policies issued on or after January 1, 2005, THE REINSURER receives premiums on an annual basis for 20% of the net amount at risk related to the policy face amount and receives premiums on a policy month basis for 10% of the net amount at risk related to the policy face amount. For UL-VUL II policies, ProFunds policies, and VUL 2004 policies issued prior to January 1, 2005, the standard annual reinsurance premiums per $1,000 of net amount at risk for (1) all cessions of automatic reinsurance and (2) all cessions of facultative reinsurance in the amount of $10 million or less will be the product of:
