PRE-ISSUE LIABILITY Clause Samples

PRE-ISSUE LIABILITY. In the event that Lutheran Brotherhood becomes liable for a death benefit solely under the terms of a conditional receipt or temporary insurance agreement issued in connection with an application for a plan of life insurance which is eligible for Automatic Reinsurance under this Agreement the application of certain conditions for Automatic Reinsurance shall be waived as described in the relevant Exhibit and the life insurance benefits in excess of Lutheran Brotherhood’s indicated retention shall, subject to the provisions of Section 2 and 3 of Article I and the remaining Conditions for Automatic Reinsurance, qualify for Automatic Reinsurance. Under no circumstance, however, shall Minnesota Mutual’s liability under this provision exceed the lesser of a) Lutheran Brotherhood’s liability under the conditional receipt or temporary insurance agreement and b) the applicable automatic acceptance limit of Minnesota Mutual as stated in the relevant Exhibit.