Common use of AUTOMATIC PORTION REINSURED Clause in Contracts

AUTOMATIC PORTION REINSURED. For Fully Underwritten Policies For US/Canadian and Non US/Canadian Residents THE REINSURER will automatically reinsure an amount equal to 26.67% of the net amount at risk corresponding to the face amount up to the First Layer of Coverage amounts shown in Schedule A, Section 5 below. For Simplified and Guaranteed Issue THE REINSURER will automatically reinsure an amount equal to 26.67% of the net amount at risk corresponding to the face amount.

AUTOMATIC PORTION REINSURED. For Fully Underwritten Policies For US/Canadian and Non US/Canadian Residents Residents, THE REINSURER will automatically reinsure an amount equal to 26.6753.33% of the net amount at risk corresponding to the face amount up to the First Layer of Coverage amounts shown in Schedule A, Section 5 below. For Simplified and Guaranteed Issue THE REINSURER will automatically reinsure an amount equal to 26.6753.33% of the net amount at risk corresponding to the face amount.