Common use of JUMBO LIMITS Clause in Contracts

JUMBO LIMITS. The ceding company shall not cede automatically to The Guardian any risk on an individual life if the all company amount of Life Insurance in force plus the amount applied for exceeds the following: Ages Preferred-Class 4 Class 5 - 16 ---- ----------------- ------------ 0-15 $10,000,000 $ 5,000,000 16-70 15,000,000 10,000,000 71-75 10,000,000 2,750,000 Over 75 2,750,000 2,750,000 EXHIBIT D ALLOWANCE SCHEDULE [Information has been redacted as confidential] EXHIBIT E MODIFIED COINSURANCE RESERVE ADJUSTMENT The ceding company shall establish and maintain life reserves on the policies reinsured under this agreement. The Guardian shall share in these reserves by means of a modified coinsurance reserve adjustment (MRA). The Annual MRA shall be computed by deducting (a) the reserves on December 31st of the preceding calendar year on the portions of the policies reinsured under the terms of this contract, with one year's interest as defined below from (b) the reserves on December 31st of the current calendar year on the portions of the policies reinsured on that date. Reserves refer to statutory reserves held in the Life Insurance sections of the general account and separate account reserve exhibits. The interest in the MRA calculation is defined as follows: for variable coverages the interest shall equal the investment earnings credited to the policies; for fixed coverages the interest rate shall be the general account rate allocated to the non-variable coverages. (The investment risk on the non-variable coverages is insignificant. These coverages include a yearly renewable term rider, extended term insurance and non-participating fixed reduced paid up insurance resulting from the variable coverage.) The monthly MRA shall be estimated. EXHIBIT F -1