AUTOMATIC LIMITS definition
AUTOMATIC LIMITS. To bind Automatic Reinsurance, the maximum amount of life insurance in force with Farm Bureau on a single life, or in the case of individual life insurance with increasing death benefits, the Ultimate Amounts, plus all amounts applied for from Farm Bureau on that life, or in the case of individual life insurance with increasing death benefits, the Ultimate Amounts, exceed the sum of the Retention on the life plus the following amounts. PARTICIPATION LIMITS: To bind Automatic Reinsurance, the sum of (1) the maximum amount of individual life insurance in force on the insured in all companies or, in the case of individual life insurance with increasing death benefits, the Ultimate Amounts, as of the Policy Date of a Policy and (2) the amount then being applied for by all companies, or in the case of the individual life insurance with increasing death benefits, the Ultimate Amounts, on the insured, may not exceed the following amounts. AMENDMENT to the Yearly Renewable Term Reinsurance Agreement (the "Agreement") effective March 14, 1996, between FARM BUREAU LIFE INSURANCE COMPANY of West Des Moines, Iowa, hereinafter referred to as "Farm Bureau," and THE LINCOLN NATIONAL LIFE INSURANCE COMPANY OF Fort ▇▇▇▇▇, Indiana, hereinafter referred to as "Lincoln."
AUTOMATIC LIMITS. To bind Automatic Reinsurance, the maximum amount of life insurance in force with Farm Bureau on a single life, or in the case of individual life insurance with increasing death benefits, the Ultimate Amounts, plus all amounts applied for from Farm Bureau on that life, or in the case of individual life insurance with increasing death benefits, the Ultimate Amounts, may not exceed the sum of the Retention on the life plus the following amounts. PARTICIPATION LIMITS: To bind Automatic Reinsurance, the sum of (1) the maximum amount of individual life insurance in force on the insured in all companies or, in the case of individual life insurance with increasing death benefits, the Ultimate Amounts, as of the Policy Date of a Policy and (2) the amount then being applied for by all companies, or in the case of individual life insurance with increasing death benefits, the Ultimate Amounts, on the insured, may not exceed the following amounts. PREMIUM SCHEDULE (Effective as of May 1,2000) to Agreement Number 21 STANDARD REINSURANCE PREMIUMS
AUTOMATIC LIMITS. To bind Automatic Reinsurance, the maximum amount of life insurance in force with Security Equity on a single life, or in the case of individual life insurance with increasing death benefits, the Ultimate Amounts, plus all amounts applied for from Security Equity on that life, or in the case of individual life insurance with increasing death benefits, the Ultimate Amounts, may not exceed the sum of the Retention on the life plus the following amounts. Guaranteed Issue and Simplified Issue Ages Standard-Table P Over Table P 20-70 $2,375,000 None All Other Plans Ages Standard-Table D Tables E-P Over Table P 20-80 $4,875,000 $4,875,000 None 81-85 1,875,000 None None Over ▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇.▇▇▇ Page 20 3509/4 PARTICIPATION LIMITS: To bind Automatic Reinsurance, the sum of (1) the maximum amount of individual life insurance in force on the insured in all companies or, in the case of individual life insurance with increasing death benefits, the Ultimate Amounts, as of the Policy Date of a Policy and (2) the amount then being applied for by all companies, or in the case of individual life insurance with increasing death benefits, the Ultimate Amounts, on the insured, may not exceed the following amounts. Guaranteed Issue and Simplified Issue Ages Standard-Table P 20-70 $3,000,000 All Other Plans Ages Standard-Table D Tables ▇-▇ ▇▇-▇▇ $20,000,000 $10,000,000 81-85 10,000,000 None 961863.agm Page 21 3509/4 EXHIBIT I-A (Effective as of September 1, 1996, for Facultative Reinsurance) to Agreement Number 4
Examples of AUTOMATIC LIMITS in a sentence
AUTOMATIC LIMITS: To bind Automatic Reinsurance, the maximum amount of life insurance in force with National Life on a single life, or in the case of individual life insurance with increasing death benefits, the Ultimate Amounts, plus all amounts applied for from National Life on that life, or in the case of individual life insurance with increasing death benefits, the Ultimate Amounts, may not exceed the sum of the Retention on the life plus the following amounts.
AUTOMATIC LIMITS: To bind Automatic Reinsurance, the maximum amount of life insurance in force with Farm Bureau on a single life, or in the case of individual life insurance with increasing death benefits, the Ultimate Amounts, plus all amounts applied for from Farm Bureau on that life, or in the case of individual life insurance with increasing death benefits, the Ultimate Amounts, may not exceed the sum of the Retention on the life plus the following amounts.