Common use of Policy Exchanges and Other Changes Clause in Contracts

Policy Exchanges and Other Changes. A policy exchange is a new policy replacing an existing policy where the new policy is not fully underwritten. Exchanges from one single life policy reinsured under this Agreement to a different single life policy will be reinsured on a point-in-scale basis. Likewise, exchanges from one last survivor policy reinsured under this Agreement to a different last survivor policy will be reinsured on a point-in-scale basis. Exchanges from a last survivor policy reinsured under this Agreement with the Last Survivor Exchange Option Rider or Twenty-Four (24) Month Exchange Rider to two single life policies will be reinsured, if both risks under the Last Survivor policy were fully underwritten (and neither was deemed to be uninsurable) and the total face amount of the two new Single Life policies does not exceed the face amount of the Last Survivor policy. In this event, the new Single Life policies shall be reinsured on a point-in-scale basis at the applicable single life rates. For each new policy after the exchange, the insurance will continue to be reinsured by the Reinsurer in the same proportions as set at issue of the original coverage. Allocated Retention. Pool -- Effective 10/1/2008 Between HLIC and TFLIC 16 If there is a contractual change in a policy reinsured under this Agreement that is not subject to full underwriting, other than the changes described above in Sections A and B, the insurance shall continue to be reinsured with the Reinsurer in the same proportions as the original coverage and Reinsurance Premiums for contractual changes shall be calculated on a point-in-scale basis. The Ceding Company shall notify the Reinsurer of any such changes in policies reinsured under this Agreement in its monthly reinsurance reports. Exchanges made from a policy not reinsured under this Agreement shall not be reinsured under this Agreement.

Policy Exchanges and Other Changes. A policy exchange is a new policy replacing an existing policy where the new policy is not fully underwritten. Exchanges Reinsurance Premiums for exchanges from one single life policy reinsured under this Agreement to a different single life policy will be reinsured calculated on a point-in-scale basisbasis using Annual Rates per $1,000 of Reinsured Net Amount at Risk, as set forth in Exhibit III. Likewise, Reinsurance Premiums for exchanges from one last survivor policy reinsured under this Agreement to a different last survivor policy will be reinsured calculated on a point-in-scale basisbasis using Annual Rates per $1,000 of Reinsured Net Amount at Risk, as set forth in Exhibit III. Exchanges Reinsurance Premiums for exchanges from a last survivor policy reinsured under this Agreement with the Last Survivor Exchange Option Rider or Twenty-Four (24) Month Exchange Rider to two single life policies will be reinsured, if both risks under calculated at the Last Survivor policy were fully underwritten (and neither was deemed to be uninsurable) and the total face amount of the two new Single Life policies does not exceed the face amount of the Last Survivor policy. In this event, the new Single Life policies shall be reinsured on a applicable single life point-in-scale basis Annual Rates per $1,000 of Reinsured Net Amount at the applicable single life ratesRisk, as set forth in Exhibit III. For each new policy after the exchange, the insurance will continue to be reinsured by the Reinsurer in the same proportions as set at issue of the original coverage. Allocated Retention. Pool -- Effective 10/1/2008 Between HLIC and TFLIC 16 If there is a contractual change in a policy reinsured under this Agreement that is not subject to full underwriting, other than the changes described above in Sections A and B, the insurance shall continue to be reinsured with the Reinsurer in the same proportions as the original coverage and Reinsurance Premiums for contractual changes shall be calculated on a point-in-scale basis, utilizing the Annual Rates per $1,000 of Reinsured Net Amount at Risk as set forth in Exhibit III. The Ceding Company shall notify the Reinsurer of any such changes in policies reinsured under this Agreement in its monthly reinsurance reports. Exchanges made from a policy not reinsured under this Agreement shall not be reinsured under this Agreement.. Allocated Retention Pool -- Effective 10/1/2008 Between HLIC and Swiss Re Amendment #5 -- Effective 10/1/2008

Policy Exchanges and Other Changes. A policy exchange is a new policy replacing an existing policy where the new policy is not fully underwritten. Exchanges Reinsurance Premiums for exchanges from one single life policy reinsured under this Agreement to a different single life policy will be reinsured calculated on a point-in-scale basisbasis using Annual Rates per $1,000 of Reinsured Net Amount at Risk, as set forth in Exhibit III. Likewise, Reinsurance Premiums for exchanges from one last survivor policy reinsured under this Agreement to a different last survivor policy will be reinsured calculated on a point-in-scale basisbasis using Annual Rates per $1,000 of Reinsured Net Amount at Risk, as set forth in Exhibit III. Exchanges Reinsurance Premiums for exchanges from a last survivor policy reinsured under this Agreement with the Last Survivor Exchange Option Rider or Twenty-Four (24) Month Exchange Rider to two single life policies will be reinsured, if both risks under calculated at the Last Survivor policy were fully underwritten (and neither was deemed to be uninsurable) and the total face amount of the two new Single Life policies does not exceed the face amount of the Last Survivor policy. In this event, the new Single Life policies shall be reinsured on a applicable single life point-in-scale basis Annual Rates per $1,000 of Reinsured Net Amount at the applicable single life ratesRisk, as set forth in Exhibit III. For each new policy after the exchange, the insurance will continue to be reinsured by the Reinsurer in the same proportions as set at issue of the original coverage. Allocated Retention. Pool -- Effective 10/1/2008 Between HLIC and TFLIC 16 If there is a contractual change in a policy reinsured under this Agreement that is not subject to full underwriting, other than the changes described above in Sections A and B, the insurance shall continue to be reinsured with the Reinsurer in the same proportions as the original coverage and Reinsurance Premiums for contractual changes shall be calculated on a point-in-scale basis, utilizing the Annual Rates per $1,000 of Reinsured Net Amount at Risk as set forth in Exhibit III. The Ceding Company shall notify the Reinsurer of any such changes in policies reinsured under this Agreement in its monthly reinsurance reports. Allocated Retention Pool -- Effective 10/1/2008 Between HLIC and Swiss Re Exchanges made from a policy not reinsured under this Agreement shall not be reinsured under this Agreement.

Policy Exchanges and Other Changes. A policy exchange is a new policy replacing an existing policy where the new policy is not fully underwritten. Exchanges Reinsurance Premiums for exchanges from one single life policy reinsured under this Agreement to a different single life policy will be reinsured calculated on a point-in-scale basisbasis using Annual Rates per $1,000 of Reinsured Net Amount at Risk, as set forth in Exhibit III. Likewise, Reinsurance Premiums for exchanges from one last survivor policy reinsured under this Agreement to a different last survivor policy will be reinsured calculated on a point-in-scale basisbasis using Annual Rates per $1,000 of Reinsured Net Amount at Risk, as set forth in Exhibit III. Exchanges Reinsurance Premiums for exchanges from a last survivor policy reinsured under this Agreement with the Last Survivor Exchange Option Rider or Twenty-Four (24) Month Exchange Rider to two single life policies will be reinsured, if both risks under calculated at the Last Survivor policy were fully underwritten (and neither was deemed to be uninsurable) and the total face amount of the two new Single Life policies does not exceed the face amount of the Last Survivor policy. In this event, the new Single Life policies shall be reinsured on a applicable single life point-in-scale basis Annual Rates per $1,000 of Reinsured Net Amount at the applicable single life ratesRisk, as set forth in Exhibit III. For each new policy after the exchange, the insurance will continue to be reinsured by the Reinsurer in the same proportions as set at issue of the original coverage. Allocated Retention. Pool -- Effective 10/1/2008 Between HLIC and TFLIC 16 If there is a contractual change in a policy reinsured under this Agreement that is not subject to full underwriting, other than the changes described above in Sections A and B, the insurance shall continue to be reinsured with the Reinsurer in the same proportions as the original coverage and Reinsurance Premiums for contractual changes shall be calculated on a point-in-scale basis, utilizing the Annual Rates per $1,000 of Reinsured Net Amount at Risk as set forth in Exhibit III. The Ceding Company shall notify the Reinsurer of any such changes in policies reinsured under this Agreement in its monthly reinsurance reports. Exchanges made from a policy not reinsured under this Agreement shall not be reinsured under this Agreement.. Allocated Retention Pool -- Effective 10/1/2008 Between HLAIC and Swiss Re Amendment #6 -- Effective 10/1/2008