Amendment #1
to the
AUTOMATIC AND FACULTATIVE
YEARLY RENEWABLE TERM REINSURANCE AGREEMENT
EFFECTIVE April 30, 2000
Between
PRUCO LIFE INSURANCE COMPANY OF NEW JERSEY
(PRUCO OF NJ)
And
MUNICH AMERICAN REASSURANCE COMPANY
(MUNICH)
The parties hereby agree to the following:
1. SCHEDULE A, Section 4, AUTOMATIC ACCEPTANCE LIMIT, shall be replaced by the following:
AUTOMATIC ACCEPTANCE LIMIT:
For any policy to be reinsured under automatic reinsurance, the face amount will not exceed the amounts
in the following tables:
US/Canadian Residents - No Foreign Travel
=========================== ========================= =============================
Issue Age of Insured Pref. Best - Class D Class E - H
--------------------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
Ages: 0 - 65 $ 50,000,000 $ 35,000,000
--------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
66 - 70 $ 40,000,000 $ 25,000,000
--------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
71 - 75 $ 35,000,000 $ 15,000,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
76 - 77 $ 15,000,000 $ 10,000,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
78 - 80 $ 10,000,000 $ 5,000,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
81 - 85 $ 5,000,000 None
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
86 - 90 $ 1,500,000 None
=========== =============== ========================= =============================
US/Canadian Residents - Foreign Travel
===================== ===================== =================== ===============
Pref. Best - Class C Class D - E Greater than
Class E
--------------------- --------------------- ------------------- ---------------
----------- --------- --------------------- ------------------- ---------------
Ages: 0 - 70 $ 10,000,000 $ 7,500,000 None
--------- --------------------- ------------------- ---------------
----------- --------- --------------------- ------------------- ---------------
71 - 75 $ 7,500,000 $ 5,000,000 None
----------- --------- --------------------- ------------------- ---------------
----------- --------- --------------------- ------------------- ---------------
00 - 00 Xxxx Xxxx Xxxx
=========== ========= ===================== =================== ===============
Non US/Canadian Residents
======================= =================== =================== ===============
Pref. Best - Class D - E Greater than
Class C Class E
----------------------- ------------------- ------------------- ---------------
----------- ----------- ------------------- ------------------- ---------------
Ages: 0 - 70 $ 20,000,000 $ 15,000,000 None
----------- ------------------- ------------------- ---------------
----------- ----------- ------------------- ------------------- ---------------
71 - 75 $ 15,000,000 $ 10,000,000 None
----------- ----------- ------------------- ------------------- ---------------
----------- ----------- ------------------- ------------------- ---------------
00 - 00 Xxxx Xxxx Xxxx
=========== =========== =================== =================== ===============
2. SCHEDULE A, Section 11, RISK RETENTION LIMITS shall be replaced by the following:
RISK RETENTION LIMITS:
The total amount of insurance in force and applied for on an individual life for PRUCO OF NJ and its
affiliates will not exceed the risk retention limits in the following table.
======================== ====================== ========================
Issue Age of Insured Pref. Best - Class D Class E - H
------------------------ ---------------------- ------------------------
----------- ------------ ---------------------- ------------------------
Ages: 0 - 65 $ 10,000,000 $ 10,000,000
------------ ---------------------- ------------------------
----------- ------------ ---------------------- ------------------------
66 - 70 $ 10,000,000 $ 10,000,000
------------ ---------------------- ------------------------
----------- ------------ ---------------------- ------------------------
71 - 75 $ 10,000,000 $ 10,000,000
----------- ------------ ---------------------- ------------------------
----------- ------------ ---------------------- ------------------------
76 - 77 $ 10,000,000 $ 5,000,000
----------- ------------ ---------------------- ------------------------
----------- ------------ ---------------------- ------------------------
78 - 80 $ 5,000,000 $ 2,500,000
----------- ------------ ---------------------- ------------------------
----------- ------------ ---------------------- ------------------------
81 - 85 $ 2,500,000 $ 1,000,000
----------- ------------ ---------------------- ------------------------
----------- ------------ ---------------------- ------------------------
86 - 90 $ 1,000,000 None
=========== ============ ====================== ========================
3. This amendment is effective April 30, 2000.
PRUCO LIFE INSURANCE COMPANY MUNICH AMERICAN REASSURANCE
OF NEW JERSEY COMPANY
By: _/s/___________________________ By:_/s/____________________________
Title: ____________________________ Title:______________________________
Date: ____________________________ Date:______________________________
By: _/s/___________________________ By:_/s/___________________________
Title: ____________________________ Title:______________________________
Date: ____________________________ Date:______________________________
Amendment #3
to the
AUTOMATIC AND FACULTATIVE
YEARLY RENEWABLE TERM REINSURANCE AGREEMENT
EFFECTIVE April 30, 2000
Between
PRUCO LIFE INSURANCE COMPANY OF NEW JERSEY
(PRUCO OF NJ)
And
MUNICH AMERICAN REASSURANCE COMPANY
(MUNICH)
The parties hereby agree to the following:
1. SECTION 10a, COMMENCEMENT OF REINSURANCE COVERAGE - AUTOMATIC REINSURANCE, shall be replaced by the
following:
a. AUTOMATIC REINSURANCE
MUNICH's reinsurance coverage for any policy that is ceded automatically under this Agreement will begin
and end simultaneously with PRUCO OF NJ's contractual liability for the policy reinsured.
In addition, MUNICH will be liable for benefits paid under PRUCO OF NJ's conditional receipt or
temporary insurance agreement if all of the conditions for automatic reinsurance coverage under Section
6 of this Agreement are met.
For UL and VUL II policies, MUNICH's liability under PRUCO OF NJ's conditional receipt or temporary
insurance agreement is limited to the lesser of (1) MUNICH's reinsured portion of the face amount of the
policy and (2) $200,000.
For ProFunds policies, MUNICH's liability under PRUCO OF NJ's conditional receipt or temporary insurance
agreement is limited to the lesser of (1) MUNICH's reinsured portion of the face amount of the policy
and (2) $300,000.
2. SCHEDULE A, Section 1, PLANS REINSURED, shall be replaced by the following:
PLANS REINSURED:
This Agreement covers the following plans:
o PruLife Universal (UL) - Policies issued by PRUCO OF NJ (Form Number UL-2000 and all state variations)
o PruLife Custom Premier (VUL II) - Policies issued by PRUCO OF NJ (Form Number VUL-2000 and all state
variations)
o PruLife Advisor Select 2002 (Pro-Funds) - Policies issued by PRUCO OF NJ (Form Number VULPAS 2002 and
all state variations)
o Target Term Rider (TTR) issued by PRUCO OF NJ (currently available on VUL II policies)
Excluded from reinsurance under this Agreement are the Waiver of Premium and Accidental Death Benefits
included in the above reinsured policies. Also excluded from reinsurance under this Agreement are
riders that provide additional life insurance on the lives of any dependent children of the
policyholder. Included under this Agreement is the Living Needs Benefit rider.
3. SCHEDULE A, Section 2, AUTOMATIC PORTION REINSURED, shall be replaced by the following:
AUTOMATIC PORTION REINSURED:
US/Canadian Residents
UL-VUL II - MUNICH will automatically reinsure an amount equal to 20% of the net amount at risk related
to the face amount of insurance.
ProFunds - MUNICH will automatically reinsure an amount equal to 30% of the net amount at risk related
to the face amount of insurance.
The net amount of risk is determined as of the issue date and each subsequent policy anniversary and is
defined as the death benefit minus the contract fund. The first layer of the face amount varies by age
and rating class and is shown in Schedule A, Section 4 below.
Non US/Canadian Residents
UL-VUL II - MUNICH will automatically reinsure an amount equal to 20% of the net amount at risk related
to the face amount of insurance.
ProFunds - MUNICH will automatically reinsure an amount equal to 30% of the net amount at risk related
to the face amount of insurance.
4. SCHEDULE A, Section 3, AUTOMATIC RETENTION LIMIT, shall be replaced by the following:
AUTOMATIC RETENTION LIMIT:
UL-VUL II - PRUCO OF NJ will retain at least 10% of each policy. PRUCO OF NJ may cede up to 70% of each
policy on a first-dollar quota share basis to other reinsurers.
ProFunds - PRUCO OF NJ will retain at least 10% of each policy. PRUCO OF NJ may cede up to 60% of each
policy on a first-dollar quota share basis to other reinsurers.
5. SCHEDULE A, Section 4, AUTOMATIC ACCEPTANCE LIMIT, shall be replaced by the following:
AUTOMATIC ACCEPTANCE LIMIT:
For any policy to be reinsured under automatic reinsurance, the face amount will not exceed the amounts
in the following tables:
UL-VUL II:
US/Canadian Residents - No Foreign Travel - Non-Smoker
=========================== ========================= ============================= ============================
Issue Age of Insured Preferred Best Class A - D Class E - H
--------------------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
Ages: 0 - 65 $ 70,000,000 $ 65,000,000 $ 43,000,000
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
66 - 70 $ 57,000,000 $ 52,000,000 $ 33,000,000
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
71 - 75 $ 43,000,000 $ 40,000,000 $ 22,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
76 - 77 $ 25,000,000 $ 22,000,000 $ 15,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
78 - 80 $ 21,000,000 $ 18,000,000 $ 11,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
81 - 85 $ 13,000,000 $ 11,000,000 None
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
86 - 90 $ 5,200,000 $ 4,200,000 None
=========== =============== ========================= ============================= ============================
US/Canadian Residents - No Foreign Travel - Smoker
=========================== ========================= ============================= ============================
Issue Age of Insured Preferred Best Class A - D Class E - H
--------------------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
Ages: 0 - 65 $ 60,000,000 $ 60,000,000 $ 43,000,000
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
66 - 70 $ 47,000,000 $ 47,000,000 $ 32,000,000
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
71 - 75 $ 38,000,000 $ 38,000,000 $ 22,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
76 - 77 $ 22,000,000 $ 22,000,000 $ 14,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
78 - 80 $ 18,000,000 $ 18,000,000 $ 10,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
81 - 85 $ 11,000,000 $ 10,000,000 None
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
86 - 90 $ 4,200,000 $ 3,200,000 None
=========== =============== ========================= ============================= ============================
US/Canadian Residents - Foreign Travel
===================== ===================== ================= =====================
Pref. Best - Class C Class D - E Greater than Class E
--------------------- --------------------- ----------------- ---------------------
----------- --------- --------------------- ----------------- ---------------------
Ages: 0 - 70 $ 10,000,000 $ 7,500,000 None
--------- --------------------- ----------------- ---------------------
----------- --------- --------------------- ----------------- ---------------------
71 - 75 $ 7,500,000 $ 5,000,000 None
----------- --------- --------------------- ----------------- ---------------------
----------- --------- --------------------- ----------------- ---------------------
00 - 00 Xxxx Xxxx Xxxx
=========== ========= ===================== ================= =====================
Non US/Canadian Residents
===================== ===================== ================= =====================
Pref. Best - Class C Class D - E Greater than Class E
--------------------- --------------------- ----------------- ---------------------
----------- --------- --------------------- ----------------- ---------------------
Ages: 0 - 70 $ 20,000,000 $ 15,000,000 None
--------- --------------------- ----------------- ---------------------
----------- --------- --------------------- ----------------- ---------------------
71 - 75 $ 15,000,000 $ 10,000,000 None
----------- --------- --------------------- ----------------- ---------------------
----------- --------- --------------------- ----------------- ---------------------
00 - 00 Xxxx Xxxx Xxxx
=========== ========= ===================== ================= =====================
ProFunds:
US/Canadian Residents - No Foreign Travel - Non-Smoker
=========================== ========================= ============================= ============================
Issue Age of Insured Preferred Best Class A - D Class E - H
--------------------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
Ages: 0 - 65 $ 65,000,000 $ 60,000,000 $ 39,500,000
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
66 - 70 $ 53,000,000 $ 48,000,000 $ 30,500,000
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
71 - 75 $ 39,500,000 $ 36,500,000 $ 20,500,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
76 - 77 $ 23,500,000 $ 20,500,000 $ 14,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
78 - 80 $ 20,000,000 $ 17,000,000 $ 10,500,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
81 - 85 $ 12,500,000 $ 10,500,000 None
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
86 - 90 $ 5,050,000 $ 4,050,000 None
=========== =============== ========================= ============================= ============================
US/Canadian Residents - No Foreign Travel - Smoker
=========================== ========================= ============================= ============================
Issue Age of Insured Preferred Best Class A - D Class E - H
--------------------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
Ages: 0 - 65 $ 55,000,000 $ 55,000,000 $ 39,500,000
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
66 - 70 $ 43,000,000 $ 43,000,000 $ 29,500,000
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
71 - 75 $ 34,500,000 $ 34,500,000 $ 20,500,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
76 - 77 $ 20,500,000 $ 20,500,000 $ 13,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
78 - 80 $ 17,000,000 $ 17,000,000 $ 19,500,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
81 - 85 $ 10,500,000 $ 9,500,000 None
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
86 - 90 $ 4,050,000 $ 3,050,000 None
=========== =============== ========================= ============================= ============================
US/Canadian Residents - Foreign Travel
===================== ===================== ================= =====================
Pref. Best - Class C Class D - E Greater than Class E
--------------------- --------------------- ----------------- ---------------------
----------- --------- --------------------- ----------------- ---------------------
Ages: 0 - 70 $ 10,000,000 $ 7,500,000 None
--------- --------------------- ----------------- ---------------------
----------- --------- --------------------- ----------------- ---------------------
71 - 75 $ 7,500,000 $ 5,000,000 None
----------- --------- --------------------- ----------------- ---------------------
----------- --------- --------------------- ----------------- ---------------------
00 - 00 Xxxx Xxxx Xxxx
=========== ========= ===================== ================= =====================
Non US/Canadian Residents
===================== ===================== ================= =====================
Pref. Best - Class C Class D - E Greater than Class E
--------------------- --------------------- ----------------- ---------------------
----------- --------- --------------------- ----------------- ---------------------
Ages: 0 - 70 $ 20,000,000 $ 15,000,000 None
--------- --------------------- ----------------- ---------------------
----------- --------- --------------------- ----------------- ---------------------
71 - 75 $ 15,000,000 $ 10,000,000 None
----------- --------- --------------------- ----------------- ---------------------
----------- --------- --------------------- ----------------- ---------------------
00 - 00 Xxxx Xxxx Xxxx
=========== ========= ===================== ================= =====================
For any policy to be reinsured under automatic reinsurance, the amounts subject to reinsurance are the
First Layer of Coverage amounts shown in the following tables:
US/Canadian Residents - No Foreign Travel
=========================== ========================= =============================
Issue Age of Insured Pref. Best - Class D Class E - H
--------------------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
Ages: 0 - 65 $ 50,000,000 $ 35,000,000
--------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
66 - 70 $ 40,000,000 $ 25,000,000
--------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
71 - 75 $ 35,000,000 $ 15,000,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
76 - 77 $ 15,000,000 $ 10,000,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
78 - 80 $ 10,000,000 $ 5,000,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
81 - 85 $ 5,000,000 None
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
86 - 90 $ 1,500,000 None
=========== =============== ========================= =============================
US/Canadian Residents - Foreign Travel
===================== ===================== ================= =====================
Pref. Best - Class C Class D - E Class F - H
--------------------- --------------------- ----------------- ---------------------
----------- --------- --------------------- ----------------- ---------------------
Ages: 0 - 70 $ 10,000,000 $ 7,500,000 None
--------- --------------------- ----------------- ---------------------
----------- --------- --------------------- ----------------- ---------------------
71 - 75 $ 7,500,000 $ 5,000,000 None
----------- --------- --------------------- ----------------- ---------------------
----------- --------- --------------------- ----------------- ---------------------
00 - 00 Xxxx Xxxx Xxxx
=========== ========= ===================== ================= =====================
Non US/Canadian Residents
===================== ===================== ================= =====================
Pref. Best - Class C Class D - E Class F - H
--------------------- --------------------- ----------------- ---------------------
----------- --------- --------------------- ----------------- ---------------------
Ages: 0 - 70 $ 20,000,000 $ 15,000,000 None
--------- --------------------- ----------------- ---------------------
----------- --------- --------------------- ----------------- ---------------------
71 - 75 $ 15,000,000 $ 10,000,000 None
----------- --------- --------------------- ----------------- ---------------------
----------- --------- --------------------- ----------------- ---------------------
00 - 00 Xxxx Xxxx Xxxx
=========== ========= ===================== ================= =====================
For any policy to be reinsured under automatic reinsurance, the amounts reinsured with THE REINSURER on
that life will not exceed the amounts in the following tables:
UL-VUL II
US/Canadian Residents - No Foreign Travel
=========================== ========================= =============================
Issue Age of Insured Pref. Best - Class D Class E - H
--------------------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
Ages: 0 - 65 $ 10,000,000 $ 7,000,000
--------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
66 - 70 $ 8,000,000 $ 5,000,000
--------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
71 - 75 $ 7,000,000 $ 3,000,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
76 - 77 $ 3,000,000 $ 2,000,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
78 - 80 $ 2,000,000 $ 1,000,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
81 - 85 $ 1,000,000 None
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
86 - 90 $ 300,000 None
=========== =============== ========================= =============================
US/Canadian Residents - Foreign Travel
===================== ===================== ================== ====================
Pref. Best - Class C Class D - E Class F - H
--------------------- --------------------- ------------------ --------------------
----------- --------- --------------------- ------------------ --------------------
Ages: 0 - 70 $ 2,000,000 $ 1,500,000 None
--------- --------------------- ------------------ --------------------
----------- --------- --------------------- ------------------ --------------------
71 - 75 $ 1,500,000 $ 1,000,000 None
----------- --------- --------------------- ------------------ --------------------
----------- --------- --------------------- ------------------ --------------------
00 - 00 Xxxx Xxxx Xxxx
=========== ========= ===================== ================== ====================
Non US/Canadian Residents
======================= =================== ================== ====================
Pref. Best - Class D - E Class F - H
Class C
----------------------- ------------------- ------------------ --------------------
----------- ----------- ------------------- ------------------ --------------------
Ages: 0 - 70 $ 4,000,000 $ 3,000,000 None
----------- ------------------- ------------------ --------------------
----------- ----------- ------------------- ------------------ --------------------
71 - 75 $3,000,000 $ 2,000,000 None
----------- ----------- ------------------- ------------------ --------------------
----------- ----------- ------------------- ------------------ --------------------
00 - 00 Xxxx Xxxx Xxxx
=========== =========== =================== ================== ====================
ProFunds
US/Canadian Residents - No Foreign Travel
=========================== ========================= =============================
Issue Age of Insured Pref. Best - Class D Class E - H
--------------------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
Ages: 0 - 65 $ 15,000,000 $ 10,500,000
--------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
66 - 70 $ 12,000,000 $ 7,500,000
--------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
71 - 75 $ 10,500,000 $ 4,500,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
76 - 77 $ 4,500,000 $ 3,000,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
78 - 80 $ 3,000,000 $ 1,500,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
81 - 85 $ 1,500,000 None
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
86 - 90 $ 450,000 None
=========== =============== ========================= =============================
US/Canadian Residents - Foreign Travel
===================== ===================== ================== ====================
Pref. Best - Class C Class D - E Class F - H
--------------------- --------------------- ------------------ --------------------
----------- --------- --------------------- ------------------ --------------------
Ages: 0 - 70 $ 3,000,000 $ 2,250,000 None
--------- --------------------- ------------------ --------------------
----------- --------- --------------------- ------------------ --------------------
71 - 75 $ 2,250,000 $ 1,500,000 None
----------- --------- --------------------- ------------------ --------------------
----------- --------- --------------------- ------------------ --------------------
00 - 00 Xxxx Xxxx Xxxx
=========== ========= ===================== ================== ====================
Non US/Canadian Residents
======================= =================== ================== ====================
Pref. Best - Class D - E Class F - H
Class C
----------------------- ------------------- ------------------ --------------------
----------- ----------- ------------------- ------------------ --------------------
Ages: 0 - 70 $ 6,000,000 $ 4,500,000 None
----------- ------------------- ------------------ --------------------
----------- ----------- ------------------- ------------------ --------------------
71 - 75 $4,500,000 $ 3,000,000 None
----------- ----------- ------------------- ------------------ --------------------
----------- ----------- ------------------- ------------------ --------------------
00 - 00 Xxxx Xxxx Xxxx
=========== =========== =================== ================== ====================
In witness of the above, PRUCO OF NJ and MUNICH have by their respective officers executed and delivered this
Agreement in duplicate on the dates indicated below, with an effective date of May 1, 2002.
----------------------------------------------------------- --------------------------------------------------------
PRUCO LIFE INSURANCE COMPANY OF NEW JERSEY MUNICH AMERICAN REASSURANCE COMPANY
----------------------------------------------------------- --------------------------------------------------------
----------------------------------------------------------- --------------------------------------------------------
By:_/s/_______________________________ By:__/s/____________________________
----------------------------------------------------------- --------------------------------------------------------
----------------------------------------------------------- --------------------------------------------------------
Title:_______________________________ Title:_____________________________
----------------------------------------------------------- --------------------------------------------------------
----------------------------------------------------------- --------------------------------------------------------
Date:_______________________________ Date:_____________________________
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By:_/s/_______________________________ By:_/s/_____________________________
----------------------------------------------------------- --------------------------------------------------------
----------------------------------------------------------- --------------------------------------------------------
Title:_______________________________ Title:_____________________________
----------------------------------------------------------- --------------------------------------------------------
----------------------------------------------------------- --------------------------------------------------------
Date:_______________________________ Date:_____________________________
----------------------------------------------------------- --------------------------------------------------------
Amendment #6
to the
AUTOMATIC AND FACULTATIVE
YEARLY RENEWABLE TERM REINSURANCE AGREEMENT
EFFECTIVE April 30, 2000
Between
PRUCO LIFE INSURANCE COMPANY OF NEW JERSEY
And
MUNICH AMERICAN REASSURANCE COMPANY
This is an ASSIGNMENT, ASSUMPTION AND RELEASE AGREEMENT (the "Assignment"), dated as of December 1, 2004, by and
among PRUCO LIFE INSURANCE COMPANY OF NEW JERSEY (the "Assignor"), THE PRUDENTIAL INSURANCE COMPANY OF AMERICA
(the "Assignee"), and MUNICH AMERICAN REASSURANCE COMPANY (the "Reinsurer").
WHEREAS, the Reinsurer provides reinsurance coverage to the Assignor in accordance with the terms of the
reinsurance agreement referenced above (the "Reinsurance Treaty"); and
WHEREAS, the parties hereto desire to execute this Assignment to evidence the assignment by the Assignor
and assumption by the Assignee of the Assignor's rights and obligations under the Reinsurance Treaty and to
effect a full and final release of the Assignor's rights and obligations under the Reinsurance Treaty effective
as of 12:00 a.m., Eastern Time, December 1, 2004 (the "Effective Time").
NOW, THEREFORE, in consideration of the promises and the mutual agreements herein contained, the parties
hereto agree to the following:
1. Assignor Assignment of Interests to Assignee. The Assignor hereby transfers, conveys, assigns
and sets over to the Assignee, its successors and assigns, all of its rights, obligations,
liabilities, title and interest in the Reinsurance Treaty, all effective as of the Effective
Time, including those incurred, accrued, or otherwise occurring or arising prior to the
Effective Time.
2. Assignee Assumption of Interests from Assignor. Effective as of the Effective Time, the Assignee
hereby assumes all of the rights and interests of the Assignor under the Reinsurance Treaty and
undertakes to pay, perform and discharge, or cause to be paid, performed or discharged, all of
the liabilities and obligations of the Assignor under the Reinsurance Treaty, including those
rights, interests, obligations, and liabilities incurred, accrued, or otherwise occurring or
arising prior to the Effective Time. It is the intention of the parties that:
a. The Assignee shall be substituted for the Assignor under the Reinsurance Treaty, in the Assignor's
name, place and stead; and
b. The Assignor shall be deemed to have ceased to be a party to, or the ceding company under, the Reinsurance Treaty
and shall have released all of its rights and interests, and shall have been discharged from all
obligations and liabilities thereunder to the Reinsurer; and
c. The Reinsurer will conduct business solely with the Assignee, or its designee, with respect to the
performance of any and all obligations and liabilities under the Reinsurance Treaty.
3. Reinsurer Consent. Notwithstanding anything to the contrary set forth in the Reinsurance Treaty,
the Reinsurer consents to the assignment and assumption set forth in Sections 1 and 2 above.
4. Reinsurer Release of Assignor. As of the Effective Time, the Reinsurer, in consideration of
the assumption by the Assignee set forth above and other valuable consideration, the receipt
and adequacy whereof is hereby acknowledged, irrevocably and unconditionally releases and
discharges the Assignor and the Assignor's successors and assigns from all liabilities,
actions, causes of action, suits, debts, dues, sums of money, accounts, reckonings, bonds,
bills, specialties, covenants, contracts, controversies, agreements, promises, variances,
trespasses, damages, judgments, extents, executions, claims and demands whatsoever, known or
unknown, in law or equity, against the Assignor, which the Reinsurer and the Reinsurer's
predecessors, successors and assigns ever had, now have or hereafter can, shall or may have,
for, upon, or by reason of any rights of the Reinsurer under the Reinsurance Treaty, including
any and all of the Assignor's obligations incurred, accrued, or otherwise occurring or arising
prior to the Effective Time. This release under this Section 4 may not be changed orally.
5. Assignor Release of Reinsurer. As of the Effective Time, the Assignor, in consideration of the
consent by the Reinsurer set forth above and other valuable consideration, the receipt and
adequacy whereof is hereby acknowledged, irrevocably and unconditionally releases and
discharges the Reinsurer and the Reinsurer's predecessors, successors and assigns from all
liabilities, actions, causes of action, suits, debts, dues, sums of money, accounts,
reckonings, bonds, bills, specialties, covenants, contracts, controversies, agreements,
promises, variances, trespasses, damages, judgments, extents, executions, claims, and demands
whatsoever, known or unknown, in law or equity, against the Reinsurer, which the Assignor ever
had, now has or hereafter can, shall or may have, for, upon, or by reason of any rights of the
Assignor under the Reinsurance Treaty, including any and all of the Reinsurer's obligations
incurred, accrued, or otherwise occurring or arising prior to the Effective Time. This release
under this Section 5 may not be changed orally.
6. Further Assurances. At any time and from time to time after the Effective Time, at the request of
the Assignee, or of the Reinsurer and without further consideration, the Assignor shall execute
and deliver such other instruments of sale, transfer, conveyance, assignment and confirmation
and take such other action as either the Assignee or the Reinsurer may reasonably request as
necessary or desirable in order to more effectively transfer, convey and assign to the Assignee
the Reinsurance Treaty.
7. Amendment of Reinsurance Treaty. The Reinsurer and the Assignee agree that the Reinsurance
Treaty is amended as of the Effective Time as provided in Exhibit A attached hereto.
8. Successors and Assigns. This Assignment shall be binding upon, and shall inure to the benefit of
the Reinsurer, the Assignor and the Assignee and their respective predecessors, successors and
assigns, if any. The parties do not intend to create any third party beneficiaries under this
Assignment
9. Governing Law. This Assignment shall be governed by and construed in accordance with the laws
of the state of New Jersey without giving effect to its principles or rules of conflict of laws
thereof. Any amendment to the Reinsurance Treaty set forth herein shall be subject to the
arbitration provision of the Reinsurance Treaty.
10. Counterparts. This Assignment may be signed in multiple counterparts. Each counterpart shall be considered
an original instrument, but all of them in the aggregate shall constitute one agreement.
In witness of the above, the Assignor, the Assignee, and the Reinsurer have by their respective officers executed
and delivered this Assignment in triplicate on the dates indicated below, with an effective date of December 1,
2004.
----------------------------------------------------------- --------------------------------------------------------
PRUCO LIFE INSURANCE COMPANY OF NEW JERSEY MUNICH AMERICAN REASSURANCE COMPANY
----------------------------------------------------------- --------------------------------------------------------
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By:_/s/_______________________________ By:_/s/_____________________________
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Title:_______________________________ Title:_____________________________
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Date:_______________________________ Date:_____________________________
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By:_/s/_______________________________ By:_/s/_____________________________
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Title:_______________________________ Title:_____________________________
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Date:_______________________________ Date:_____________________________
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THE PRUDENTIAL INSURANCE COMPANY OF AMERICA
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By:_/s/_______________________________
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Title:_______________________________
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Date:_______________________________
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By:_/s/_______________________________
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Title:_______________________________
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Date:_______________________________
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Exhibit A
1. The INSOLVENCY provision of the Reinsurance Treaty is deleted in its entirety and is replaced by the
following:
INSOLVENCY:
For the purpose of this Agreement, PRUCO OF NJ or MUNICH shall be deemed "insolvent" if one or more of
the following occurs:
a. A court-appointed receiver, trustee, custodian, conservator, liquidator, government official or similar
officer takes possession of the property or assets of either PRUCO OF NJ or MUNICH; or
b. Either PRUCO OF NJ or MUNICH is placed in receivership, rehabilitation, liquidation, conservation,
bankruptcy or similar status pursuant to the laws of any state or of the United States; or
c. Either PRUCO OF NJ or MUNICH becomes subject to an order to rehabilitate or an order to liquidate as
defined by the insurance code of the jurisdiction of the domicile of PRUCO OF NJ or MUNICH, as the
case may be.
In the event of the insolvency of PRUCO OF NJ, all reinsurance ceded, renewed or otherwise becoming
effective under this Agreement shall be payable by MUNICH directly to PRUCO OF NJ or to its liquidator,
receiver, or statutory successor on the basis of the liability of PRUCO OF NJ under the contract or
contracts reinsured without diminution because of the insolvency of PRUCO OF NJ. It is understood,
however, that in the event of the insolvency of PRUCO OF NJ, the liquidator or receiver or statutory
successor of the insolvent Company shall give written notice of the pendency of a claim against PRUCO OF
NJ on the policy reinsured within a reasonable time after such claim is filed in the insolvency
proceeding, and during the pendency of such claim MUNICH may investigate such claim and interpose, at
its own expense, in the proceeding where such claim is to be adjudicated any defense or defenses which
it may deem available to PRUCO OF NJ or is liquidator or receiver or statutory successor.
In the event MUNICH is deemed insolvent, MUNICH will be bound by any legal directions imposed by its
liquidator, conservator, or statutory successor. However, and if not in conflict with such legal
directions, PRUCO OF NJ shall have the right to cancel this Agreement with respect to occurrences taking
place on or after the date MUNICH first evidences insolvency. Such right to cancel shall be exercised
by providing MUNICH (or its liquidator, conservator, receiver or statutory successor) with a written
notice of PRUCO OF NJ's intent to recapture ceded business. If PRUCO OF NJ exercises such right to
cancel and recapture ceded business, such election shall be in lieu of any premature recapture fee.
Upon such election, PRUCO OF NJ shall be under no obligation to MUNICH, its liquidator, receiver or
statutory successor.
2. Any and all references in the Reinsurance Treaty to the jurisdiction in which PRUCO OF NJ is domiciled
or organized shall read as if to refer to the State of New Jersey.
3. If the GOVERNING LAW provision of the Reinsurance Treaty does not provide for the application of New
Jersey law, that provision shall be changed to read as follows:
GOVERNING LAW:
This Agreement shall be governed by the laws of the State of New Jersey without giving effect
to the principles of conflicts of laws thereof.
4. Any and all references in the Reinsurance Treaty to MUNICH being licensed or authorized in a given
jurisdiction shall be read as if to refer to the State of New Jersey. If the Reinsurance Treaty
contains no such reference, then MUNICH hereby represents that it is authorized to do business in the
State of New Jersey.
