Common use of Noncontractual Increases Clause in Contracts

Noncontractual Increases. If the amount of insurance is increased as a result of a noncontractual change, the increase will be underwritten by the Company in accordance with its customary standards and procedures and will be considered new reinsurance under this Agreement. The Reinsurer’s written approval is required if the original policy was reinsured on a facultative basis or if the new amount will cause the reinsured amount on the life to exceed either the Automatic Binding Limits or the Jumbo Limits shown in Exhibit C. Premiums for the additional reinsurance will be at the new issue rate from the point of increase.

Appears in 4 contracts

Samples: Reinsurance Agreement (Nationwide VL Separate Account-G), Illegible    Illegible    Illegible    Illegible    Illegible (Vericity, Inc.), Automatic Yearly Renewable Term (COLI VUL-4 Series Account of First Great-West Life & Annuity Insurance CO)

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Noncontractual Increases. If the amount of insurance is increased as a result of a noncontractual change, the increase will be underwritten by the Company in accordance with its customary standards and procedures and will be considered new reinsurance business under this Agreement. The Reinsurer’s 's written approval is required if the original policy was reinsured on a facultative basis or if the new amount will cause the reinsured amount on the life to exceed either the Automatic Binding Limits or the Jumbo Limits shown in Exhibit C. Premiums for the additional reinsurance will be at the new issue rate from the point of increase.C.

Appears in 2 contracts

Samples: Automatic Yearly Renewable Term Reinsurance Agreement (Symetra Separate Account Sl), Automatic Yearly Renewable Term Reinsurance Agreement (Symetra Separate Account Sl)

Noncontractual Increases. If a change results in the amount of insurance is increased as a result of a noncontractual changebeing increased, the increase will be considered new reinsurance under this Agreement and shall be underwritten by the Company in accordance with its customary standards and procedures and will procedures. If the policy were submitted to the Reinsurer facultatively, increases must be considered new reinsurance under this Agreement. The approved by the Reinsurer’s written approval is required if the original policy was reinsured on a facultative basis or if the new amount will cause the reinsured amount on the life to exceed either the Automatic Binding Limits or the Jumbo Limits shown in Exhibit C. Premiums for the additional reinsurance will be at the new issue rate from the point of increase.

Appears in 1 contract

Samples: The Agreement (Carillon Life Account)

Noncontractual Increases. If the amount of insurance is increased as a result of a noncontractual non-contractual change, the increase will be underwritten by the Company in accordance with its customary standards and procedures and will be considered new reinsurance under this Agreement. The Reinsurer’s written 's approval is required if the original policy was reinsured on a facultative basis or if the new amount will cause the reinsured amount on the life to exceed either the Automatic Binding Limits or the Jumbo Limits shown in Exhibit C. A. The Reinsurer will assume its share of the entire amount in excess of the Company's applicable retention. Premiums for the additional reinsurance will be at the new issue rate from the point of increase.

Appears in 1 contract

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

Noncontractual Increases. If the amount of insurance is increased as a result of a noncontractual change, the increase will be underwritten by the Company in accordance with its customary standards and procedures and will be considered new reinsurance under this Agreement. The Reinsurer’s 's written approval is required if the original policy was reinsured on a facultative basis or if the new amount will cause the reinsured amount on the life to exceed either the Automatic Binding Limits or the Jumbo Limits shown in Exhibit C. Premiums for the additional reinsurance will be at the new issue rate from the point of increase.

Appears in 1 contract

Samples: Reinsurance Agreement (Nationwide Vli Separate Account 4)

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Noncontractual Increases. If the amount of insurance is increased as a result of a noncontractual change, and the increase will be is underwritten by the Company Cedent in accordance with its customary standards and procedures and procedures, the increased amount of insurance will be considered reinsured using new reinsurance under this Agreementbusiness rates. The Reinsurer’s written approval is required if the original policy was reinsured on a facultative basis or if the new amount will cause the reinsured amount on the life to exceed either the Automatic Binding Limits or the Jumbo Limits Limit shown in Exhibit C. Premiums for the additional reinsurance will be at the new issue rate from the point of increase.Schedule A.

Appears in 1 contract

Samples: Reinsurance Agreement (New York Life Ins & Annuity Corp Var Univ Life Sep Acc I)

Noncontractual Increases. If the amount of insurance is increased as a result of a noncontractual change, the increase will be underwritten by the Company in accordance with its customary standards and procedures and will be considered new reinsurance business under this Agreement. The Reinsurer’s written approval is required if the original policy was reinsured on a facultative or facultative obligatory basis or if the new amount will cause the reinsured amount on the life to exceed either the Automatic Binding Limits or the Jumbo Limits shown in Exhibit C. Premiums for the additional reinsurance will be at the new issue rate from the point of increase.C.

Appears in 1 contract

Samples: Automatic Yearly Renewable Term Reinsurance Agreement (Symetra Separate Account Sl)

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