Binding Limits definition

Binding Limits. As of the effective date of this Addendum, the binding limits set forth in Exhibit C Binding Limits of the base Agreement, as revised by Amendment 16138- 00-01, shall apply to the above plans and their associated riders except that the applicable Reinsurer’s share, issue age limits and face amount limits are as stated in the attached Exhibits C.1 Reinsurer’s Share, C.5 Issue Age Limits and C.7 Minimum Original Policy Face Amount which are hereby added to the Agreement.
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Binding Limits. The Ceding Company's binding limits applicable to the above plans are the same as those stated in Exhibit C – Binding Limits contained in the base Agreement. The following is hereby added to Exhibit C.5 in order to provide the issue ages applicable to the above plans. Underwriting Class Issue Ages Super Preferred Non-Nicotine [REDACTED] Preferred Plus Non-Nicotine [REDACTED] Standard Plus Non-Nicotine [REDACTED] Standard Non-Nicotine (AIUL/PIUL) [REDACTED] Standard Non-Nicotine (AVUL) [REDACTED] Preferred Nicotine [REDACTED] Standard Nicotine (AIUL/PIUL) [REDACTED] Standard Nicotine (AVUL) [REDACTED] Reinsurance Premiums: [REDACTED] IN WITNESS WHEREOF, both parties have executed this Addendum in duplicate as follows: SYMETRA LIFE INSURANCE COMPANY RGA REINSURANCE COMPANY By: _______________________________ (Signature) By: _______________________________ (Signature) Title: ______________________________ Title: Vice President Date: _____________________________ Location: __________________________ Date: _____________________________ Location: Chesterfield, Missouri The business reinsured under this Agreement is hereby defined to include the following: Policies issued on the business identified below may qualify for reinsurance if the application date for the policy is on or after the Effective Date of this Addendum. Added Plans Effective June 11, 2021 Symetra Accumulator IUL 4.0 Plan* Symetra Protector IUL 3.0 Plan* Added Plan Effective August 1, 2021 Symetra Accumulator VUL 1.0 Plan* Benefits and Riders Accelerated Benefit Rider for Terminal Illness (non-lien approach) Change of Insured Rider Lapse Protection Benefit (LPB) Rider Stipulated Premium Guarantee Rider Supplemental Protection Rider [REDACTED] Rider Availability The following riders are available under the above plans. Plan Available Riders Symetra Accumulator IUL 4.0 Plan • Accelerated Benefit Rider for Terminal Illness (non-lien approach) • Stipulated Premium Guarantee • Supplemental Protection Rider Symetra Protector IUL 3.0 Plan • Accelerated Benefit Rider for Terminal Illness (non-lien approach) • Lapse Protection Benefit (LPB) Rider (short duration) Symetra Accumulator VUL 1.0 Plan • Accelerated Benefit Rider for Terminal Illness (non-lien approach) • Change of Insured Rider • Stipulated Premium Guarantee • Supplemental Protection Rider [CERTAIN PORTIONS OF THIS EXHIBIT CONTAIN CONFIDENTIAL INFORMATION. THE CONFIDENTIAL PORTIONS OF THIS EXHIBIT ARE IDENTIFIED AS [REDACTED] AND HAVE BEEN OMIT...
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Binding Limits. As of the effective date of this Amendment, the binding limits for the ADBR - TI Benefit are the same as those stated in Exhibit c - Binding Limits of the Agreement and applicable to the underlying base plan policy to which the ADBR- TI Benefit is attached. Reinsurance Premiums: As of the effective date of this Amendment, the attached Exhibit D - Reinsurance Premiums, Section 7 Riders and Benefits is hereby added to the Agreement in order to provide a description of the ADBR - TI Benefit. No additional reinsurance premiums are payable for coverage of this benefit. (▇▇▇) ▇▇▇▇▇-▇▇-▇▇ 1 B/1/2019
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Examples of Binding Limits in a sentence

  • For automatic cessions, Net Amount at Risk in excess of the Retained Share will be ceded to a pool of reinsurers, subject to the Automatic Binding Limits and Jumbo Limits set forth herein.

  • For policies reinsured on an automatic basis, reinsurance of increases in amount resulting from contractual policy provisions will be accepted only up to the Automatic Binding Limits shown in Exhibit B.

  • These Automatic Binding Limits include any amounts within the Ceding Company's retention.

  • The ceded risk is subject to the Facultative Obligatory Automatic Binding Limits and the Facultative Obligatory Automatic Issue Limits, as stated in Exhibit II.

  • 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.

  • Claims covered under this Agreement include only death claims, which are those due to the death of the insured on a policy or rider reinsured under this Agreement, and any additional benefits specified in Exhibit B − Plans Covered and Binding Limits, which are provided by the underlying policy and are reinsured under this Agreement.

  • Increases in the Net Amount at Risk of the Base Policy caused by an Automatic Increasing Benefit Rider shall be reinsured as described in Article 5 without regard to the Automatic Binding Limits or the Jumbo Limits shown in Exhibit B, provided that the total of all such increases to the Specified Amount of a single policy does not exceed seven hundred fifty thousand dollars ($750,000).

  • Claims covered under this Agreement include only death claims, which are those due to the death of the insured on a policy or rider reinsured under this Agreement, and any additional benefits specified in Exhibit B - Plans Covered and Binding Limits, which are provided by the underlying policy and are reinsured under this Agreement.

  • Reinsurance coverage under a conditional receipt or temporary insurance provision is limited to the Reinsurer's share of amounts within the conditional receipt or temporary coverage limits shown in Exhibit B - Plans Covered and Binding Limits.

  • 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.


More Definitions of Binding Limits

Binding Limits. The Binding Limits applicable to the above plans are the same as that stated in Exhibit C - Binding Limits of the base Agreement with the following exceptions:
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Binding Limits. The Binding Limits applicable to the above plan are the same as those stated in Exhibit C – Binding Limits contained in the base Agreement. The following is hereby added to Exhibit C.5 in order to provide the issue ages applicable to the above plan. Underwriting Class Issue Ages Super Preferred Non-Nicotine [REDACTED] Preferred Plus Non-Nicotine [REDACTED] Standard Plus Non-Nicotine [REDACTED] Standard Non-Nicotine [REDACTED] Preferred Nicotine [REDACTED] Standard Nicotine [REDACTED] Reinsurance Premiums Base Policy: [REDACTED] Available Riders: Accelerated Benefit Rider for Terminal Illness: [REDACTED] After payment of a partial acceleration on a rider covered under this Agreement, reinsurance premiums will continue to be paid pursuant to Exhibit D.1 and in accordance with Article 5.6 until the insured’s death. Stipulated Premium Guarantee Rider (short duration): This rider provides for a no lapse guarantee feature. [REDACTED]. Supplemental Protection Rider: This rider allows for an additional layer of insurance for the insured. This rider is only available at policy issue. [REDACTED]
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Binding Limits. The Binding Limits applicable to the above plan are the same as those stated in Exhibit C – Binding Limits contained in the base Agreement with the following exceptions: [REDACTED] The following is hereby added to Exhibit C.5 in order to provide the issue ages applicable to the above plan. Underwriting Class Issue Ages Super Preferred Non-Nicotine [REDACTED] Preferred Plus Non-Nicotine [REDACTED] Standard Plus Non-Nicotine [REDACTED] Standard Non-Nicotine [REDACTED] Preferred Nicotine [REDACTED] Standard Nicotine [REDACTED] Reinsurance Premiums: [REDACTED]
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Binding Limits. The Binding Limits applicable to the above plan are the same as those stated in Exhibit C – Binding Limits contained in the base Agreement. The following is hereby added to Exhibit C.5 in order to provide the issue ages applicable to the above plan. Underwriting Class Issue Ages Super Preferred Non-Nicotine [REDACTED] Preferred Plus Non-Nicotine [REDACTED] Standard Plus Non-Nicotine [REDACTED] Standard Non-Nicotine [REDACTED] Preferred Nicotine [REDACTED] Standard Nicotine [REDACTED] Reinsurance Premiums Base Policy: [REDACTED] Available Riders which are reinsured: Accelerated Benefit Rider for Terminal Illness: [REDACTED] After payment of a partial acceleration on a rider covered under this Agreement, reinsurance premiums will continue to be paid pursuant to Exhibit D.1 and in accordance with Article 5.6 until the insured’s death. Lapse Protection Benefit (LPB) Rider (short duration): This rider provides for a no lapse guarantee feature. [REDACTED] All provisions of the Agreement not specifically modified herein remain unchanged.
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Related to Binding Limits

  • binding corporate rules means personal data protection policies which are adhered to by a controller or processor established on the territory of a Member State for transfers or a set of transfers of personal data to a controller or processor in one or more third countries within a group of undertakings, or group of enterprises engaged in a joint economic activity;

  • Binding Effect The provisions, covenants and conditions in this Contract apply to bind the parties, their legal heirs, representatives, successors, and assigns.

  • Enforceable means, with respect to any Contractual Obligation stated to be Enforceable by or against any Person, that such Contractual Obligation is a legal, valid and binding obligation of such Person enforceable by or against such Person in accordance with its terms, except to the extent that enforcement of the rights and remedies created thereby is subject to bankruptcy, insolvency, reorganization, moratorium and other similar laws of general application affecting the rights and remedies of creditors and to general principles of equity (regardless of whether enforceability is considered in a proceeding in equity or at law).

  • Valid means that the Tax Verification Letter’s period of validity, as indicated on the Tax Verification Letter, has not ended.

  • Investor Q&A Forum As defined in Section 4.02(a) of this Agreement.