Common use of Issue Notification Clause in Contracts

Issue Notification. 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. The Ceding Company acknowledges that this service is for informational purposes only and, that by rendering this service, the Reinsurer makes no assurances regarding compliance with the Jumbo Limit. Failure by the Reinsurer to respond to such inquiries does not imply compliance with the Jumbo Limit. It is the Ceding Company’s sole decision as to how the information provided by the Reinsurer is used. The Ceding Company will make every effort to notify the Reinsurer on each pending policy application where the total in force and applied for amount in all companies is less than the Jumbo Limit but greater than [*]. Should the Ceding Company fail to notify the Reinsurer pre-issue, the policy will remain eligible for Automatic reinsurance as defined in the Agreements. The above tables should not be construed to provide coverage or limits outside of the age ranges and ratings applicable to the plans reinsured under the Agreements. For clarity, to be eligible for Automatic reinsurance, the total Ultimate Amount in force and currently applied for on the life with the Ceding Company and its affiliates, which includes both single and joint life coverage and any external coverage to be replaced, does not exceed the Automatic Binding Limit shown above. Additionally, to be eligible for Automatic reinsurance, the total Policy Death Benefit in force and currently applied for on the life with all companies, which includes both single and joint life coverage and any coverage to be replaced, plus the Ultimate Amount in force and currently applied for with the Ceding Company and its affiliates, which also includes both single and joint life coverage and any external coverage to be replaced, may not exceed the Jumbo Limit shown above. If either the Automatic Binding Limit or Jumbo Limit is exceeded, the Ceding Company may submit the risk to the Reinsurer for Facultative review. The Ultimate Amount is the projected maximum Policy Death Benefit that a policy could achieve based on reasonable assumptions made about the operation of certain characteristics of the policy form, including any contractual increases, as well as applicable riders and additional benefits.

Issue Notification. 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. The Ceding Company acknowledges that this service is for informational purposes only and, that by rendering this service, the Reinsurer makes no assurances regarding compliance with the Jumbo Limit. Failure by the Reinsurer to respond to such inquiries does not imply compliance with the Jumbo Limit. It is the Ceding Company’s sole decision as to how the information provided by the Reinsurer is used. The Ceding Company will make every effort to notify the Reinsurer on each pending policy application application, including those under ASAP™ consideration (if applicable under the Agreement), where the total in force and applied for amount in all companies is less than the Jumbo Limit but greater than [*]. Should the Ceding Company fail to notify the Reinsurer pre-issue, the non-ASAP™ policy will remain eligible for Automatic reinsurance and the ASAP™ policy will remain eligible for Facultative reinsurance as defined in the AgreementsAgreement. The above tables should not be construed to provide coverage or limits outside of the age ranges and ratings applicable to the plans reinsured under the Agreements. For clarity, to be eligible for Automatic reinsurance, the total Ultimate Amount in force and currently applied for on the life with the Ceding Company and its affiliates, which includes both single and joint life coverage and any external coverage to be replaced, does not exceed the Automatic Binding Limit shown above. Additionally, to be eligible for Automatic reinsurance, the total Policy Death Benefit in force and currently applied for on the life with all companies, which includes both single and joint life coverage and any coverage to be replaced, plus the Ultimate Amount in force and currently applied for with the Ceding Company and its affiliates, which also includes both single and joint life coverage and any external coverage to be replaced, may not exceed the Jumbo Limit shown above. If either the Automatic Binding Limit or Jumbo Limit is exceeded, the Ceding Company may submit the risk to the Reinsurer for Facultative review. The Ultimate Amount is the projected maximum Policy Death Benefit that a policy could achieve based on reasonable assumptions made about the operation of certain characteristics of the policy form, including any contractual increases, as well as applicable riders and additional benefits.

Issue Notification. 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. The Ceding Company acknowledges that this service is for informational purposes only and, that by rendering this service, the Reinsurer makes no assurances regarding compliance with the Jumbo Limit. Failure by the Reinsurer to respond to such inquiries does not imply compliance with the Jumbo Limit. It is the Ceding Company’s sole decision as to how the information provided by the Reinsurer is used. The Ceding Company will make every effort to notify the Reinsurer on each pending policy application where the total in force and applied for amount in all companies is less than the Jumbo Limit but greater than $[*]. Should the Ceding Company fail to notify the Reinsurer pre-issue, the policy will remain eligible for Automatic reinsurance as defined in the Agreements. The above tables should not be construed to provide coverage or limits outside of the age ranges and ratings applicable to the plans reinsured under the Agreements. For clarity, to be eligible for Automatic reinsurance, the total Ultimate Amount in force and currently applied for on the life with the Ceding Company and its affiliates, which includes both single and joint life coverage and any external coverage to be replaced, does not exceed the Automatic Binding Limit shown above. Additionally, to be eligible for Automatic reinsurance, the total Policy Death Benefit in force and currently applied for on the life with all companies, which includes both single and joint life coverage and any coverage to be replaced, plus the Ultimate Amount in force and currently applied for with the Ceding Company and its affiliates, which also includes both single and joint life coverage and any external coverage to be replaced, may not exceed the Jumbo Limit shown above. If either the Automatic Binding Limit or Jumbo Limit is exceeded, the Ceding Company may submit the risk to the Reinsurer for Facultative review. The Ultimate Amount is the projected maximum Policy Death Benefit that a policy could achieve based on reasonable assumptions made about the operation of certain characteristics of the policy form, including any contractual increases, as well as applicable riders and additional benefits.

Issue Notification. 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. The Ceding Company acknowledges that this service is for informational purposes only and, that by rendering this service, the Reinsurer makes no assurances regarding compliance with the Jumbo Limit. Failure by the Reinsurer to respond to such inquiries does not imply compliance with the Jumbo Limit. It is the Ceding Company’s sole decision as to how the information provided by the Reinsurer is used. The Ceding Company will make every effort to notify the Reinsurer on each pending policy application application, including those under ASAP™ consideration (if applicable under the Agreement), where the total in force and applied for amount in all companies is less than the Jumbo Limit but greater than $[*]. Should the Ceding Company fail to notify the Reinsurer pre-issue, the non-ASAP™ policy will remain eligible for Automatic reinsurance and the ASAP™ policy will remain eligible for Facultative reinsurance as defined in the AgreementsAgreement. The above tables should not be construed to provide coverage or limits outside of the age ranges and ratings applicable to the plans reinsured under the Agreements. For clarity, to be eligible for Automatic reinsurance, the total Ultimate Amount in force and currently applied for on the life with the Ceding Company and its affiliates, which includes both single and joint life coverage and any external coverage to be replaced, does not exceed the Automatic Binding Limit shown above. Additionally, to be eligible for Automatic reinsurance, the total Policy Death Benefit in force and currently applied for on the life with all companies, which includes both single and joint life coverage and any coverage to be replaced, plus the Ultimate Amount in force and currently applied for with the Ceding Company and its affiliates, which also includes both single and joint life coverage and any external coverage to be replaced, may not exceed the Jumbo Limit shown above. If either the Automatic Binding Limit or Jumbo Limit is exceeded, the Ceding Company may submit the risk to the Reinsurer for Facultative review. The Ultimate Amount is the projected maximum Policy Death Benefit that a policy could achieve based on reasonable assumptions made about the operation of certain characteristics of the policy form, including any contractual increases, as well as applicable riders and additional benefits.