Examples of Jumbo Limit in a sentence

For any policy to be reinsured under automatic reinsurance, the total amount of insurance in force and applied for in all companies shall not exceed the Jumbo Limit as shown in Schedule A.
For any policy to be reinsured under automatic reinsurance, the total amount of insurance in force and applied for in all companies, of which THE COMPANY is aware, shall not exceed the Jumbo Limit as shown in Schedule A.
Jumbo Limit - The maximum amount of coverage available on an individual life for Automatic reinsurance purposes.
As a service, the Reinsurer will assist the Ceding Company in identifying applicants who are possibly over the Jumbo Limit prior to policy issue based on information that is in the Reinsurer’s possession at the time of pre-issue notification.
For any policy to be reinsured under automatic reinsurance, the total amount of insurance in force and applied for in all companies, including any amounts to be replaced as stated in the application or signed amendment, if any, shall not exceed the Jumbo Limit as shown in Schedule A.

More Definitions of Jumbo Limit

Jumbo Limit means $[_____] of life insurance. If the Jumbo Exposure exceeds the Jumbo Limit it will not be eligible for automatic reinsurance, in accordance with Section 3.1.

Jumbo Limit. All life insurance in force and applied for with all companies shall not be more than $10,000,000. TRIVIAL AMOUNT: $25,001 reinsurance coverage per cession is the minimum amount of reinsurance provided under this treaty for a particular life. Cessions less than $25,001 will be automatically terminated. MINIMUM SUBMISSION: $50,001. RECAPTURE: After 10 policy years In the event of any conflict between this Specifications Page and the terms and conditions of the Reinsurance Agreement, the terms and conditions of the Agreement shall govern. TABLE OF CONTENTS AUTOMATIC REINSURANCE AGREEMENT PAGE ---- Specifications Page 1 Table of Contents 2 GENERAL PROVISIONS

Jumbo Limit is defined as: i) the maximum amount of life insurance in-force, including any amounts to be replaced as stated on a signed Part 1 of an application or signed amendment; plus, ii) the total new amount of insurance to be placed in all companies. Any amounts that will be replaced either under IRC Section 1035 exchange or non- Section 1035 replacement where a fully executed Absolute Assignment Form transferring the ownership to the Company is received with the application or an internal replacement of a Company policy, will not be included in determining compliance with the Jumbo Limits, subject to the following: If all or any portion of the amount tendered for exchange or to be replaced is not cancelled or terminated for any reason, or if all or any part of any replaced policy is subsequently reinstated, thereby resulting in the dollar amount of the Jumbo Limits outlined above being exceeded, the Company will assume full liability for the policy, and the Reinsurer will refund all unearned premiums less allowances paid to it for its participation in the reinsurance of the policy. The Company will at the time of final underwriting approval, give the Reinsurer written notification of any case the Company bind automatically, where the Jumbo amount exceeds $50,000,000.

Jumbo Limit. See Exhibit A. RECAPTURE: After 20 policy years. In the event of any conflict between this Summary Page and the terms and conditions of the Reinsurance Agreement, the terms and conditions of the Agreement shall govern. >page> TABLE OF CONTENTS PAGE ARTICLE I.

Jumbo Limit. For the purpose of this Agreement, a jumbo risk is one where the current application and/or other information of the Ceding Company indicate that the proposed insured's total insurance in force and applied for in all companies exceeds the amounts shown in the table below, irrespective of any proposed replacement currently considered. ---------------------------------- AGE MORTALITY ---------------------------------- STD-500% ---------------------------------- 0-75 $30,000,000 ---------------------------------- 76-85 3,000,000 ---------------------------------- Premium Taxes: The Reinsurer shall not be responsible for reimbursement of premium taxes. Minimum Face Amount: $100,000 [LOGO] Canada Life EXHIBIT 2 THE CEDING COMPANY'S MAXIMUM LIMITS OF RETENTION ------------------------------------------------- AGE MORTALITY ------------------------------------------------- STD - 200% 201% - 300% 301% - 500% ------------------------------------------------- 0-75 $1,000,000 $1,000,000 $1,000,000 ------------------------------------------------- 76 - 80 100,000 100,000 NIL ------------------------------------------------- 81 - 85 100,000 NIL NIL ------------------------------------------------- 86+ NIL NIL NIL ------------------------------------------------- [LOGO] Canada Life THE REINSURER'S AUTOMATIC PARTICIPATION LIMITS Life Listed by Age and Rating LIFE: ------------------------------------------------ AGE MORTALITY ------------------------------------------------ STD - 200% 201% - 300% 301% - 500% ------------------------------------------------ 0 - 75 $3,000,000 $3,000,000 $3,000,000 ------------------------------------------------ 76 - 80 300,000 300,000 NIL ------------------------------------------------ 81 - 85 300,000 NIL NIL ------------------------------------------------ 86+ NIL NIL NIL ------------------------------------------------ AVIATION:

Jumbo Limit shall have the meaning set forth in Section 3 of Exhibit B.

Jumbo Limit. W.P.: (i) Plans with an Increasing Premium Feature Issue Ages Initial Face Amount ---------- ---------------------- Under 40 [dollar amount] 40 - 49 [dollar amount] 50 and over [dollar amount]

Jumbo Limit definition

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