REQUIREMENTS FOR AUTOMATIC REINSURANCE. A. The individual risk must be a permanent resident of the United States or Canada.
B. The individual risk must be underwritten by the CEDING COMPANY according to the standard underwriting practices and guidelines as shown in Exhibit IA. The CEDING COMPANY shall immediately notify BMA of any changes in underwriting practices or guidelines. Any risk falling into a category of special underwriting programs shall be excluded from this Agreement.
C. Any risk offered on a facultative basis to BMA or any other reinsurer shall not qualify for automatic reinsurance.
D. The maximum issue age on any risk shall be age 70. Issue ages over 70 must be submitted facultatively.
E. The mortality rating on any one risk must not exceed Table 8, or 300%, or its equivalent on a flat extra premium basis. Cases exceeding Table 8, or 300%, or its equivalent must be submitted facultatively.
F. The maximum amount of insurance issued and applied for in all companies on any one risk shall not exceed the Jumbo limits as stated in Schedule A.
G. On any risk, the CEDING COMPANY must retain the amounts of insurance as stated in Exhibit I.
H. The maximum amounts of insurance to be reinsured on any one life shall not exceed the automatic binding limits as stated in Schedule A.
I. The minimum amount of insurance to be ceded shall be $5,000.
REQUIREMENTS FOR AUTOMATIC REINSURANCE. Cedent shall not cede, and Reinsurer shall not accept, any individual life insurance for reinsurance under this Agreement unless it meets the following requirements:
1. The individual risk must be a resident of the United States or Canada.
2. The individual risk must be underwritten by Cedent in accordance with Cedent's usual underwriting practices and guidelines, or arise out of a conversion from a prior term policy issued by Cedent. Conversions need not have been previously reinsured with the Reinsurer to be reinsured under this agreement. The individual must be classified as select preferred, preferred, non-smoker, select standard, standard or substandard, in accordance with those guidelines.
3. The age of the individual risk at issue must be no greater than the maximum issue age shown on Schedule A.
4. The amount of insurance issued and applied for in all insurance companies on each life must not exceed the jumbo limits shown on Schedule A.
5. The amount of insurance issued and applied for with Cedent on each life must not exceed the automatic binding limits shown on Schedule A.
6. The initial amount of life insurance on each Covered Policy must not be less than the minimum amount at issue as shown on Schedule A.
7. The issuance of the insurance must constitute the doing of business in a jurisdiction in which Cedent is properly licensed.
8. On each Covered Policy, Cedent must retain at least the percentage amount of each risk as shown in Schedule A (hereinafter referred to as the "Automatic Retained Percentage"), notwithstanding any portion of a Covered Policy that is reinsured under an agreement with New York Life Agents Reinsurance Company ("NYLARC") or MLIFE Insurance Company ("MLIFE").
REQUIREMENTS FOR AUTOMATIC REINSURANCE. A. The individual risk must be in a jurisdiction in which we are duly licensed and/or authorized to do business.
B. The individual risk must be underwritten by us according to our standard underwriting practices and guidelines. Any risk falling into the category of special underwriting programs will be excluded from this Agreement unless previously agreed to by you via a letter amendment.
C. Any risk offered on a facultative basis by us to you or any other company will not qualify for automatic reinsurance under this Agreement on the same life unless: (i) Reinsurance on the life was previously ceded on a facultative basis because of binding or jumbo limit violations and these limits have since been increased, or, (ii) The risk which required facultative submission has changed significantly or has been eliminated altogether, so that the individual insured qualifies for automatic reinsurance based on our current underwriting guidelines; and the original facultative cession has been in force for at least two years.
D. The maximum issue age on any risk will be age 89; and for disability waiver of premium, age 55. The issue age basis for policies issued under this Agreement is age nearest birthday.
E. The mortality rating on each individual risk must not exceed Table 8, Table H, or 300%, or its equivalent, as shown in our retention schedule, on a flat extra premium basis. The mortality rating for a disability waiver of premium risk must not exceed Table 4, Table D, or 200%.
F. The maximum amount of insurance issued and applied for in all companies on each risk must not exceed the jumbo limits as stated in Schedule A.
G. On each individual life, we must retain the amounts of insurance according to our published retention limits.
H. The maximum amount of insurance to be reinsured on a life must not exceed the automatic binding limits as stated in Schedule A.
REQUIREMENTS FOR AUTOMATIC REINSURANCE. The individual risk must be a resident of the U.S. or Canada.
REQUIREMENTS FOR AUTOMATIC REINSURANCE. A. The individual risk must be a permanent resident of the United States.
B. The individual risk must be underwritten by the CEDING COMPANY according to the standard underwriting practices and guidelines as shown in Exhibit IA. The CEDING COMPANY shall immediately notify BMA of any changes in underwriting practices or guidelines. Any risk falling into a category of special underwriting programs e.g. guaranteed issue, simplified underwriting, internal or external exchanges, shall be excluded from this Agreement unless specifically included in Schedule A.
C. Any facultative application for reinsurance of current or prior applications on the same life risk offered to BMA or any other reinsurer shall not qualify for automatic reinsurance.
D. The maximum issue age on any risk shall be as stated in Schedule A. Applications with issue ages over the limit stated in Schedule A must be submitted facultatively.
E. The mortality rating on any one risk shall not exceed the Table Rating stated in Schedule A, or its equivalent on a flat extra premium basis. Cases exceeding the Table Rating stated in Schedule A, or its equivalent, must be submitted facultatively.
F. The maximum amount of insurance issued and applied for in all companies on any one risk shall not exceed the Jumbo limits as stated in Schedule A. For policies which contain automatic increase provisions, the CEDING COMPANY shall provide the initial and ultimate risk amounts.
G. On any risk, the CEDING COMPANY must retain the amounts of insurance as stated in Exhibit I. A zero risk retention does not qualify for automatic reinsurance.
H. The maximum amounts of insurance to be reinsured on any one life shall not exceed the automatic binding limits as stated in Schedule A.
I. The minimum amount of insurance to be ceded shall be as stated in Schedule A. When reinsurance is ceded on a pool basis, the minimum amount is the amount applicable to the total pool, not each pool participant.
REQUIREMENTS FOR AUTOMATIC REINSURANCE. Cedent shall not cede, and Reinsurer shall not accept, any individual life insurance for reinsurance under this Agreement unless it meets the following requirements:
1. The individual risk must be a resident of the United States or Canada.
2. The individual risk must be underwritten by Cedent in accordance with Cedent's usual underwriting practices and guidelines, or arise out of a conversion from a prior term policy issued by Cedent. The individual must be classified as preferred risk, non-smoker, select standard, standard, substandard nonsmoker or substandard, in accordance with those guidelines.
3. The age of the individual risk at issue must be no greater than the maximum issue age shown on Schedule A.
4. The maximum amount of insurance issued and applied for in all insurance companies on each life must not exceed the jumbo limits shown on Schedule A.
5. The maximum amounts of insurance to be reinsured on an individual life must not exceed the automatic binding limits shown on Schedule A.
6. The initial minimum amount of life insurance on each policy must not be less than the minimum amount at issue as shown on Schedule A.
7. The issuance of the insurance must constitute the doing of business in a jurisdiction in which Cedent is properly licensed.
8. On each individual life, Cedent must retain 10% of the amount of each risk.
REQUIREMENTS FOR AUTOMATIC REINSURANCE. You shall not cede, and we shall not accept, any individual life insurance for reinsurance under this Agreement unless it meets the following requirements:
1. The individual risk must be a resident of the United States, Canada or Mexico.
2. The individual risk must be underwritten by you in accordance with your usual underwriting practices and guidelines. The individual risk must be classified as substandard special class A or B (as set forth in Schedule A) in accordance with those guidelines.
3. The age of the individual risk at issue must be no greater than the maximum issue age shown on Schedule A
4. The maximum amount of insurance issued and applied for in all insurance companies on each life must not exceed the jumbo limits shown on Schedule A.
5. The maximum amounts of insurance to be reinsured on an individual life must not exceed the automatic binding limits shown on Schedule A.
6. The initial minimum amount of life insurance on each policy must not be less than the minimum amount at issue as shown on Schedule A.
7. The issuance of the insurance must constitute the doing of business in a jurisdiction in which you are properly licensed.
8. On each individual life, you must retain __% of the amount of each risk.
REQUIREMENTS FOR AUTOMATIC REINSURANCE. A. The individual risk must be a resident of the United States.
B. The maximum issue age on any risk will be age 80.
C. The mortality rating on each individual risk must not exceed Table 16, Table P, 500% or its equivalent on a flat extra premium basis.
D. The maximum amount of insurance issued and applied for in all companies on each risk must not exceed the jumbo limits as stated in Schedule A.
E. The maximum amounts of insurance to be reinsured on a life must not exceed the automatic binding limits as stated in Schedule A.
REQUIREMENTS FOR AUTOMATIC REINSURANCE. A. The individual risk must be a resident of the U.S., Canada or Mexico.
B. The individual risk must be underwritten by you according to your underwriting practices or guidelines. For those purposes, individual risks that arise as the result of a conversion from a prior term policy will be considered to be underwritten by you according to your underwriting practices and guidelines. The individual must be classified as non-smoker, standard, or substandard, in accordance with those guidelines.
C. Any risk offered on a facultative basis by you to us or any other company will not qualify for automatic reinsurance.
D. The maximum issue age on any risk will be age 90.
E. The mortality rating on each individual risk may be standard or substandard according to your published underwriting guidelines.
F. The maximum amount of insurance issued and applied for in all companies on each life must not exceed the jumbo limit as stated in Schedule A.
G. On each individual life, you must retain 20% of the amount of each risk.
H. The maximum amounts of insurance to be reinsured on a life must not exceed the automatic binding limits as stated in Schedule A.
REQUIREMENTS FOR AUTOMATIC REINSURANCE. For risks which meet the requirements for automatic reinsurance as set forth below, Reinsurer will participate in a reinsurance pool whereby Reinsurer will automatically reinsure a portion of the insurance risks as indicated in Schedule A. The requirements for automatic reinsurance are as follows:
1. The individual must be a resident of the United States or Canada at the time of application.
2. The individual risk must be underwritten according to the Ceding Company's standard underwriting practices and guidelines. Any risk falling into the category of special underwriting programs will be excluded from this Agreement unless previously agreed to by the Reinsurer via a written amendment.
3. Any risk offered on a facultative basis by the Ceding Company to the Reinsurer or any other company will not qualify for automatic reinsurance under this Agreement for the same risk and same life.
4. The maximum issue age on any risk will be age 90.
5. The mortality rating on each individual risk must not exceed
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