Noncontractual Increases. If the amount of insurance is increased as a result of a noncontractual change, the increase will be underwritten by the Ceding Company in accordance with its customary standards and procedures. The policy will be reinsured under this Agreement using the total risk amount as adjusted in accordance with Article 5. For purposes of reinsurance, the original age and duration of the policy will be used for the total risk amount; however the underwriting class will be based on the most recent assessment and may differ from the underwriting classification in effect prior to the increase. The Reinsurer's approval is required if the original policy was reinsured on a facultative basis or if the new amount will cause the total amount on the life to exceed either the Automatic Binding Limits or the Jumbo Limits shown in Exhibit B - Plans Covered and Binding Limits.
Noncontractual Increases. If the amount of insurance is increased as a result of a noncontractual change, the increase will be underwritten by the Company in accordance with its customary standards and procedures and will be considered new reinsurance under this Agreement. The Reinsurer’s written approval is required if the original policy was reinsured on a facultative basis or if the new amount will cause the reinsured amount on the life to exceed either the Automatic Binding Limits or the Jumbo Limits shown in Exhibit C. Premiums for the additional reinsurance will be at the new issue rate from the point of increase.
Noncontractual Increases. If the amount of insurance is increased as a result of a noncontractual change, the increase will be underwritten by the Ceding Company in accordance with its customary standards and procedures. The policy will be reinsured under this Agreement using the total risk amount as adjusted in accordance with Article 5. If the noncontractual increase exceeds $25,000, for purposes of reinsurance premium and allowance determination, the issue age, underwriting assessment, amount, and duration of each separate layer of coverage will be used, that is, the reinsurance premium and allowance for each increase will be initially calculated using the issue age that is the current attained age of the insured and duration 1. If the noncontractual increase is $25,000 or less, the increase will be combined with the earliest layer of coverage and for purposes of reinsurance premium and allowance determination, the original issue age, underwriting class and duration of the policy will be used for the total risk amount of the combined layers. If a policy has noncontractual increases that exceed $25,000, any and all references to duration, anniversary, risk amount, reinsurance premium, underwriting assessment, allowance, or issue age of a policy shall mean the duration, anniversary, risk amount, reinsurance premium, underwriting assessment, allowance, or issue age of each layer of coverage within the policy. For any non-contractual increase, the Reinsurer's approval is required if the original policy was reinsured on a facultative basis or if the new amount will cause the total amount on the life to exceed any limits on automatic cessions, such as the Automatic Binding Limits or the Jumbo Limits shown in Exhibit B – Plans Covered and Binding Limits. Shares for noncontractual increases that are automatically ceded will be based on the most recently negotiated reinsurance treaty shares for new policies with the same policy form, whether or not the prior layer(s) are ceded to the Reinsurer, subject to retention limits described in each applicable agreement. For facultative cessions, it is understood that the Ceding Company may at its option retain an amount more or less than its normal retention for noncontractual increases, unless otherwise specified in the Reinsurer's facultative offer. Allowances for noncontractual increases will be based on the most recently negotiated reinsurance allowances for new policies with the same policy form. For the purposes of determining reinsured ris...
Noncontractual Increases. If the amount of insurance is increased as a result of a noncontractual change and the increase will be underwritten by the Ceding Company in accordance with its customary standards and procedures as set forth in Article 2.2, it will be considered new reinsurance under this Agreement. Otherwise, the increase is not reinsured under this Agreement. MARC's approval is required if the original policy was reinsured on a facultative basis or if the new amount will cause the reinsured amount on the life to exceed either the Automatic Binding Limits or the Jumbo Limits shown in Exhibit B. MARC will assume its share of the entire amount in excess of the Ceding Company's applicable retention. Premiums for the additional reinsurance will be at the new-issue rate from the point of increase.
Noncontractual Increases. If the Initial Death Benefit is increased as a result of a noncontractual change, the increase will be underwritten by the Ceding Company in accordance with the underwriting guidelines, practices, and procedures for risk selection identified by the Ceding Company in the questionnaire titled “Underwriting Guidelines, Practices and Procedures” and any Material Changes consented to in writing by the Reinsurer. Such increases will be considered new reinsurance under this Agreement. The Reinsurer’s approval is required if the Original Policy was reinsured on a Facultative basis or if the new amount will cause the Reinsured Net Amount at Risk on the life to exceed either the Automatic Binding Limits or the Jumbo Limits shown in Exhibit C. The Ceding Company and the Reinsurer will share the increased amount proportionately. If the reinsurance is Automatic, the amount of reinsurance must not exceed the Automatic Binding Limits or Jumbo Limits shown in Exhibit C. If the increase is Facultative, the Ultimate Amount of reinsurance must not exceed the amount included in the Facultative offer. Premiums for the additional reinsurance will be based on the issue age, mortality rating, underwriting class and duration since the time of underwriting of the increase.
Noncontractual Increases. NML shall have the authority to approve noncontractual increases in coverage to policies reinsured in the pool, subject to all of the provisions of Section 1 of this Agreement.
Noncontractual Increases. If the amount of insurance is increased as a result of a noncontractual change, the increase will be underwritten by the Ceding Company in accordance with its customary standards and procedures and will be considered new reinsurance under this Agreement. The Reinsurer's approval is required if the original policy was reinsured on a facultative basis or if the new amount will cause the reinsured amount on the life to exceed either the Automatic Binding Limits or the Jumbo Limits shown in Exhibit B. The Ceding Company and the Reinsurer will share the increased amount proportionately. Once the Ceding Company's maximum retention has been reached, the remaining amount will be reinsured on an excess basis.
Noncontractual Increases. If the amount of insurance is increased as a result of a noncontractual change, the increase is eligible for reinsurance only if the increase is underwritten by the Ceding Company in accordance with its Underwriting Guidelines and the requirements set forth in Article 3.3. If eligible, the increase will be considered New Business. Otherwise, the increase is not eligible for reinsurance under this Agreement. Munich Re, U.S. (Life)’s prior written approval is required if the original Policy was reinsured on a facultative basis or if the new amount will cause the reinsured amount on the life to exceed either the Automatic Binding Limits or the Jumbo Limits shown in Exhibit B. Munich Re, U.S. (Life) will assume its share of the entire amount in excess of the Ceding Company’s Retention as shown in Exhibit A, up to Munich Re, U.S. (Life)’s proportionate share of the Automatic Binding Limits shown in Exhibit B. Premiums for the additional reinsurance will be at the new-issue rate from the point of increase.
Noncontractual Increases. If the amount of insurance is increased as a result of a noncontractual change, the increase will be considered new reinsurance under this Agreement and will be underwritten by the Company in accordance with its customary standards and procedures. If reinsurance is on a Quota Share basis, the Company and the Reinsurer will share the increased amount proportionately. Once the Company's maximum retention has been reached, the remaining amount will be reinsured. The Reinsurer's approval is required if the new amount will cause the reinsured amount on the life to exceed either the Automatic Binding Limits or the Jumbo Limits shown in Schedule A.
Noncontractual Increases. If the Initial Death Benefit increases as a result of a noncontractual change, the increase will be underwritten by the Ceding Company in accordance with the Ceding Company’s underwriting guidelines, practices, and procedures for risk selection provided or made available to the Reinsurer. The increases are “new reinsurance” under this Agreement. The Reinsurer’s approval is required lf the Original Policy was reinsured on a Facultative basis or if the new amount will cause the Reinsurance Death Benefit on the life to exceed either the Automatic Binding Limits or the Jumbo Limits shown in Exhibit C. The Ceding Company and the Reinsurer share the increased amount proportionately. If the reinsurance is Automatic, the amount of reinsurance must not exceed the Automatic Binding Limits or Jumbo Limits shown in Exhibit C. If the increase is Facultative, the Ultimate Amount of reinsurance may not exceed the amount included in the Facultative offer. Premiums for the additional reinsurance are based on the issue age, mortality rating, underwriting class and duration since the time of underwriting of the increase.
