Table 4 program Sample Clauses
Table 4 program. All policies issued by the Company and found to be rateable up to and including Table 4 (200%) prior to reinsurance review can be automatically issued to the Reinsurer at standard rates. The Company will pay the Reinsurer of the current automatic reinsurance premium rates for the corresponding plan for any policy eligible under the Table 4 Program. However, for Joint-Last-to-Die policies issued between September 1, 1997 and May 1, 1998, the Company will pay the reates for the corresponding plan under the Table 4 program.
Table 4 program. All policies issued by the Company and found to be rateable up to and including Table 4 (200%) can be automatically issued to the Reinsurer at standard rates. The Company will pay the Reinsurer one hundred and twenty (120%) of the current automatic reinsurance premium rates for the corresponding plan for any policy eligible under the Table 4 Program. It is understood that the Company will not submit policies under the Table 4 Program that have been previously submitted on a facultative basis to the Reinsurer. This Program applies only to insurance applications underwritten by the Company and for which conventional underwriting and issue practices are consistently applied. Subjective risks and business decisions will be excluded from this program, (eg Financial underwriting problems, group offers, occupational /habits/moral risks). Credits will not be used to reduce a higher rating to fit within the Table 1-4 range. The Company will notify the Reinsurer of any change in underwriting or issue practices or philosophy, or a change in underwriting management personnel.