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. Reinsurance Premiums for exchanges from one single life policy reinsured under this Agreement to a different single life policy will be calculated on a point-in-scale basis 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 calculated on a point-in-scale basis using Annual Rates per $1,000 of Reinsured Net Amount at Risk, as set forth in Exhibit III. 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 calculated at the applicable single life point-in-scale Annual Rates per $1,000 of Reinsured Net Amount at Risk, 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. 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. Reinsurance Premiums for exchanges from one single life policy reinsured under this Agreement to a different single life policy will be calculated on a point-in-scale basis 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 calculated on a point-in-scale basis using Annual Rates per $1,000 of Reinsured Net Amount at Risk, as set forth in Exhibit III. 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 calculated at the applicable single life point-in-scale Annual Rates per $1,000 of Reinsured Net Amount at Risk, 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. 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. 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. Reinsurance Premiums for exchanges from one single life policy reinsured under this Agreement to a different single life policy will be calculated on a point-in-scale basis 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 calculated on a point-in-scale basis using Annual Rates per $1,000 of Reinsured Net Amount at Risk, as set forth in Exhibit III. 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 calculated at the applicable single life point-in-scale Annual Rates per $1,000 of Reinsured Net Amount at Risk, 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. 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 HLAIC and Swiss Re Amendment #5 6 -- Effective 10/1/2008