Maximum Retention definition
Examples of Maximum Retention in a sentence
If portions of a policy reinsured under this Agreement have been reinsured with more than one Reinsurer, the Ceding Company must allocate the reduction in reinsurance so that the amount reinsured by each Reinsurer after the reduction is proportionately the same as if the new Maximum Retention Per Life had been in effect at the time of issue.
Life Insurance: Maximum Retention Limit ------------------------------ Issue Ages (Youngest age) Amount ------------------------------ 0-75 $1,000,000.00 ------------------------------ 76-85 100,000.00 ------------------------------ 86+ 0 ------------------------------ For joint plans, determine the retention amount for each life and use the larger of the two amounts.
No recapture will be allowed in any class of fully reinsured business nor in any classes of risks for which the Ceding Company established special retention limits less than the Ceding Company’s Maximum Retention Per Life for the plan, age, and mortality rating at the time the policy was issued.
Whenever the Ceding Company increases its Maximum Retention Per Life as set forth in Exhibit A (A.1) the Ceding Company will notify the Reinsurer of its intent to recapture to the new retention limits.
The resulting Net Amount At Risk must not exceed the Maximum Retention Amount in Exhibit A.
Our Maximum Retention limits for Joint Second-to-Die policies: Retention on Second-to-Die plans will be the larger of the two individual retentions, unless one life is uninsurable.
The greater of the two applicable single life Ceding Company Maximum Retention Per Life limits less the greater of any previously retained amount on either of the single lives.
Whenever the Ceding Company increases its Maximum Retention Per Life as set forth in Exhibit A the Ceding Company will notify the Reinsurer of its intent to recapture to the new retention limits.
Determine the greater of the Single Life "Maximum Retention" limit for the (2) insureds from the table shown in Section A, above.
Whenever the Ceding Company increases its Maximum Retention Per Life as set forth in Exhibit A – Retention Limits of the Ceding Company, the Ceding Company will notify the Reinsurer of its intent to retention limits.