AUTOMATIC AND FACULTATIVE REINSURANCE Sample Clauses

AUTOMATIC AND FACULTATIVE REINSURANCE. A. The Ceding Company shall automatically cede to the Reinsurer reinsurance of that portion of individual life policies and supplemental benefits as specified in Schedule A – Accepted Coverages, and the Reinsurer shall automatically accept such reinsurance that meets the following requirements:
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AUTOMATIC AND FACULTATIVE REINSURANCE. (Continued)
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AUTOMATIC AND FACULTATIVE REINSURANCE. (continued)
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AUTOMATIC AND FACULTATIVE REINSURANCE. All terms and conditions of these Agreements not in conflict with the terms and conditions of this Amendment shall continue unchanged.
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AUTOMATIC AND FACULTATIVE REINSURANCE. (Continued) conditional receipt or temporary insurance agreement is limited to the lesser of i. or ii. below:
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AUTOMATIC AND FACULTATIVE REINSURANCE. 1. When the REINSURED retains its limit of retention, as shown in Schedule A, it may cede and the LINCOLN shall accept automatically reinsurance of Life, Disability, and Accidental Death insurance in amounts not to exceed those shown in Schedule B.
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AUTOMATIC AND FACULTATIVE REINSURANCE. Reinsurer will be notified before issue anytime the Jumbo Limit exceeds $ . Reinsurer’s Automatic Binding Limit: $ for issue ages (Standard through Table P) $ for issue ages (Standard) $ for issue ages (Tables A through P) $ for issue ages (Standard through Table H) $ for issue ages (Tables J through P) $ for issue ages (Standard) $ for issue ages (Tables A through D) $ for issue ages (Standard) Automatic Issue Limit: $ Issue Ages: 0-90 CESSION LIMITS PER REINSURER (applies to Automatic and Facultative cases): Minimum Initial Cession: $10,000 Trivial Amount: $1 Minimum Face Amount: $50,000 Minimum Facultative Cession: $100,000 SCHEDULE C: FACULTATIVE SUBMISSION FORM «LAST»«POLICY_NO» Face Amount «COV_AMOUNT1» Policy # «POLICY_NO» First Name «FIRST» Last Name «LAST» DOB Second Insured First Name Last Name DOB Send To: XXXXXXXXX (Minimum face amount $ ) XXXXXXX(Excess Only) Excluding Survivorships MassMutual insurance inforce XXXXXX (Minimum face amount $ ) Of which we retain with XXXXXXXX (Minimum face amount $ ) parent or affiliate XXXXXXX (Excess Only) Insurance now applied for XXXXXXXX (Minimum face amount $ ) Of which we will retain XXXXXXXX (Excess Only) Excluding Survivorships XXXXXXX (Excess Only) Reinsurance applied for ¨ Send previously saved case to new Reinsurer Underwriting Data Insured Number 1 Insured Number 2 Insured Number 1 Insured Number 2 Application ¨ ¨ Financial Report ¨ ¨ Non-Medical ¨ ¨ Cover Letter ¨ ¨ Medical Exam ¨ ¨ APS ¨ ¨ ECG ¨ ¨ APS ¨ ¨ X-Ray ¨ ¨ APS ¨ ¨ Lab Report ¨ ¨ ¨ ¨ Specimen ¨ ¨ ¨ ¨ Inspection ¨ ¨ ¨ ¨ MVR ¨ ¨ ¨ ¨ Reason for Submission ¨ Retention/Amount ¨ Health ¨ Rating/Review Comments: SCHEDULE D: SPECIAL NET RISK CALCULATIONS
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AUTOMATIC AND FACULTATIVE REINSURANCE. A. The Ceding Company shall automatically cede to the Reinsurer reinsurance of that portion of individual life policies and supplemental benefits as specified in Schedule A – Accepted Coverages, and the Reinsurer shall automatically accept such reinsurance that meets the following requirements: 2 The mortality rating on each individual risk must not exceed 500% (Table 16 or P), or its equivalent on a flat extra premium basis.
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AUTOMATIC AND FACULTATIVE REINSURANCE. Except as provided herein, all other terms, provisions and conditions of the above-referenced Agreement remain in full force and effect.
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Related to AUTOMATIC AND FACULTATIVE REINSURANCE

  • FACULTATIVE REINSURANCE For Facultative reinsurance, the Reinsurer’s liability will commence at the same time as the Ceding Company’s liability, provided that the Reinsurer has made a binding Facultative offer and that offer was accepted, during the lifetime of the insured, in accordance with the terms of this Agreement.

  • Automatic Reinsurance For automatic reinsurance, the Reinsurer's liability will commence at the same time as the Ceding Company's liability, including liability under any conditional receipt or temporary insurance provision.

  • Credit for Reinsurance Retrocessionaire shall take all actions reasonably necessary, if any, to permit Retrocedant to obtain full financial statement credit in all applicable U.S. jurisdictions for all liabilities assumed by the Retrocessionaire pursuant to this Agreement, including but not limited to loss and loss adjustment expense reserves, unearned premium reserves, reserves for incurred but not reported losses, allocated loss adjustment expenses and ceding commissions, and to provide the security required for such purpose, in a form reasonably acceptable to Retrocedant. Any reserves required by the foregoing in no event shall be less than the amounts required under the law of the jurisdiction having regulatory authority with respect to the establishment of reserves relating to the relevant Reinsurance Contracts. For purposes of this Article XIX, such "actions reasonably necessary" may include, without limitation, the furnishing of a letter of credit or the establishment of a custodial or trust account, as permitted under applicable law, to secure the payment of the amounts due the Retrocedant under this Agreement.

  • LIFE REINSURANCE The reinsurance premiums per $1000 are shown in Schedule B. Reinsurance premiums for renewals will be calculated using (1) the issue age of the insured under the policy, (2) the duration since issuance of the policy and (3) the current underwriting classification.

  • Reinsurance Reinsurance services including, but not limited to (i) agreement to reinsurance policy and/or contract wordings and endorsements to existing policies; (ii) processing of reinsurance policy cancellations, nonrenewals and endorsements and other amendatory addenda; (iii) collection of premiums due under reinsurance policies or contracts, audits and remittances; (iv) negotiation and purchase of reinsurance coverage; (v) administration of letters of credit and other arrangements for the provision of security; and (vi) administration of reinsurance contracts.

  • Other Reinsurance The Company shall be permitted to carry other reinsurance, recoveries under which shall inure solely to the benefit of the Company and be entirely disregarded in applying all of the provisions of this Contract.

  • Plan of Reinsurance A. Reinsurance of Life risks shall be on the risk premium basis. The risk amount on the policy reinsured shall be calculated monthly and shall be equal to the death benefit less the cash value. At the time of issue, the Ceding Company shall cede to North American Re the portion of the initial risk amount in excess of its retention. Thereafter, the Ceding Company and North American Re shall keep the same proportionate shares of the risk amount developed each month.

  • Reinsurance Administration THE COMPANY shall perform all duties with respect to the administration of the reinsurance under this Agreement on the portion of the policies reinsured under this Agreement.

  • Basis of Reinsurance Reinsurance under this Agreement will be on the Yearly Renewable Term basis on the portion of each policy that is reinsured as described in Schedule A.

  • Insurance Contracts To the extent that any Welfare Plan is funded through the purchase of an insurance contract or is subject to any stop loss contract, the Parties shall cooperate and use their commercially reasonable efforts to replicate such insurance contracts for SpinCo or Parent as applicable (except to the extent that changes are required under applicable Law or filings by the respective insurers) and to maintain any pricing discounts or other preferential terms for both Parent and SpinCo for a reasonable term. Neither Party shall be liable for failure to obtain such insurance contracts, pricing discounts, or other preferential terms for the other Party. Each Party shall be responsible for any additional premiums, charges, or administrative fees that such Party may incur pursuant to this Section 7.06.

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