Noncontractual Increases. If the amount of insurance is increased as a result of a noncontractual change and the increase will be underwritten by the Ceding Company in accordance with its customary standards and procedures as set forth in Article 2.2, it will be considered new reinsurance under this Agreement. Otherwise, the increase is not reinsured under this Agreement. MARC'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 B. MARC will assume its share of the entire amount in excess of the Ceding Company's applicable retention. Premiums for the additional reinsurance will be at the new-issue rate from the point of increase.
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Samples: Reinsurance Agreement (Ameritas Variable Separate Account V), Automatic and Facultative Yrt Reinsurance Agreement (Nationwide VL Separate Account-G)
Noncontractual Increases. If the amount of insurance is increased as a result of a noncontractual change and change, the increase will be underwritten by the Ceding Company in accordance with its customary standards and procedures as set forth in Article 2.2, it and will be considered new reinsurance under this Agreement. Otherwise, the increase is not reinsured under this Agreement. MARC's ’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 B. The Ceding Company and MARC will assume its share of the entire increased amount in excess of proportionately. Once the Ceding Company's applicable retention’s maximum retention has been reached, the remaining amount will be reinsured on an excess basis. Premiums for the additional reinsurance will be at the new-issue rate from the point of increase.
Appears in 2 contracts
Samples: Automatic Yrt Reinsurance Agreement (Tiaa-Cref Life Separate Account Vli-1), Automatic Yrt Reinsurance Agreement (Tiaa-Cref Life Separate Account Vli-1)
Noncontractual Increases. If the amount of insurance is increased as a result of a noncontractual change and change, the increase will be underwritten by the Ceding Company Company, through the Administrator, in accordance with its customary standards and procedures as set forth in Article 2.2, it and will be considered new reinsurance under this Agreement. Otherwise, the increase is not reinsured under this Agreement. MARC's ’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 B. MARC will assume its share of the entire amount in excess of the Ceding Company's ’s applicable retentionretention and the first excess. Premiums for the additional reinsurance will be at the new-issue rate from the point of increase.
Appears in 1 contract
Samples: Automatic Yrt Second Excess Reinsurance Agreement (First Trinity Financial CORP)
Noncontractual Increases. If the amount of insurance is increased as a result of a noncontractual change and the increase will be underwritten by the Ceding Company in accordance with its customary standards and procedures as set forth in Article 2.2, it will be considered new reinsurance under this Agreement. Otherwise, the increase is not reinsured under this Agreement. MARC's ’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 B. MARC will assume its share of the entire amount in excess of the Ceding Company's ’s applicable retentionretention and First Excess. Premiums for the additional reinsurance will be at the new-issue rate from the point of increase.
Appears in 1 contract
Samples: Reinsurance Agreement (Symetra Separate Account Sl)
Noncontractual Increases. If the amount of insurance is increased as a result of a noncontractual change and change, the increase will be underwritten by the Ceding Company in accordance with its customary standards and procedures as set forth in Article 2.2, it and will be considered new reinsurance under this Agreement. Otherwise, the increase is not reinsured under this Agreement. MARC's The Reinsurer’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 B. MARC The Ceding Company and the Reinsurer will assume its share of the entire increased amount in excess of proportionately. Once the Ceding Company's applicable retention’s maximum retention has been reached, the remaining amount will be reinsured on an excess basis. Premiums for the additional reinsurance will be at the new-issue rate from the point of increase.
Appears in 1 contract
Samples: Yearly Renewable Term Reinsurance Agreement (American National Variable Life Separate Account)
Noncontractual Increases. If the amount of insurance is increased as a result of a noncontractual change and change, the increase will be underwritten by the Ceding Company in accordance with its customary standards and procedures as set forth in Article 2.2, it and will be considered new reinsurance under this Agreement. Otherwise, the increase is not reinsured under this Agreement. MARCThe Reinsurer'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 B. MARC The Ceding Company and the Reinsurer will assume its share of the entire increased amount in excess of proportionately. Once the Ceding Company's applicable retention. Premiums for maximum retention has been reached, the additional reinsurance remaining amount will be at the new-issue rate from the point of increasereinsured on an excess basis.
Appears in 1 contract
Noncontractual Increases. If the amount of insurance is increased as a result of a noncontractual change and change, the increase will be underwritten by the Ceding Company in accordance with its customary standards and procedures as set forth in Article 2.2, it will be considered new reinsurance under this Agreement. Otherwise, the increase is not reinsured under this Agreement. MARC's ’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 B. MARC will assume its share of the entire ceded amount in excess of the Ceding Company's ’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: Automatic Excess Yrt and Facultative Reinsurance Agreement (Farm Bureau Life Variable Account)