Amendment #2 to the AUTOMATIC AND FACULTATIVE
Amendment #2
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 Automatic Issue Limits shown in the following tables:
US/Canadian Residents – No Foreign Travel – Non-Smoker
|
Issue Age of Insured |
No Substandard Rating |
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 |
No Substandard Rating |
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 |
$ 20,000,000 |
$ 15,000,000 |
None |
|
|
71 – 75 |
$ 15,000,000 |
$ 10,000,000 |
None |
|
|
76 – 90 |
None |
None |
None |
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 |
Greater than Class E | |
|
Ages: |
0 – 70 |
$ 10,000,000 |
$ 7,500,000 |
None |
|
|
71 – 75 |
$ 7,500,000 |
$ 5,000,000 |
None |
|
|
76 – 90 |
None |
None |
None |
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 reinsured with MUNICH on that life 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 |
$ 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 |
Greater than Class E | |
|
Ages: |
0 – 70 |
$ 2,000,000 |
$ 1,500,000 |
None |
|
|
71 – 75 |
$ 1,500,000 |
$ 1,000,000 |
None |
|
|
76 – 90 |
None |
None |
None |
V:\Nick\Reinsurance\Amendments\UL-VUL II\Binding-Retention-Jumbo Limits Change\Munich\Amendment #2 UL-VUL II – MUNICH PNJ.doc
Non US/Canadian Residents
|
|
Pref. Best – Class C |
Class D - E |
Greater than Class E | |
|
Ages: |
0 - 70 |
$ 4,000,000 |
$ 3,000,000 |
None |
|
|
71 - 75 |
$3,000,000 |
$ 2,000,000 |
None |
|
|
00 - 00 |
Xxxx |
Xxxx |
Xxxx |
|
|
0. |
SCHEDULE A, Section 5, JUMBO LIMIT, shall be replaced by the following: |
JUMBO LIMIT:
For any policy to be reinsured under automatic reinsurance, the total amount of insurance in force and applied for in all companies will not exceed the following amounts:
US/Canadian Residents- No Foreign Travel
|
|
No Substandard Rating |
Class A – D |
Class E – H | |
|
Ages: |
0 – 90 |
$70,000,000 |
$70,000,000 |
$70,000,000 |
Note: When a policy is reinsured under automatic reinsurance and the total amount in force and applied for in all companies exceeds $50,000,000, MUNICH must be notified and PRUCO OF NJ shall provide the amount being issued.
US/Canadian Residents – Foreign Travel
|
|
No Substandard Rating |
Class A – E |
Class F - H | |
|
Ages: |
0 – 75 |
$35,000,000 |
$35,000,000 |
None |
|
|
00 - 00 |
Xxxx |
Xxxx |
Xxxx |
Xxx XX/Xxxxxxxx Residents
|
|
No Substandard Rating |
Class A – E |
Class F - H | |
|
Ages: |
0 – 75 |
$35,000,000 |
$35,000,000 |
None |
|
|
00 - 00 |
Xxxx |
Xxxx |
Xxxx |
|
|
0. |
SCHEDULE A, Section 11, RISK RETENTION LIMITS shall be replaced by the following: |
RISK RETENTION LIMITS:
The total amount of insurance retained on an individual life for PRUCO OF NJ and its affiliates will not exceed the risk retention limits in the following tables.
|
|
Non-Smokers |
|
Issue Age of Insured |
No Substandard Rating |
Class A – D |
Class E – H | |
|
Ages: |
0 - 65 |
$30,000,000 |
$ 25,000,000 |
$ 15,000,000 |
|
|
66 - 70 |
$25,000,000 |
$ 20,000,000 |
$ 13,000,000 |
|
|
71 - 75 |
$15,000,000 |
$ 12,000,000 |
$ 10,000,000 |
|
|
76 – 80 |
$13,000,000 |
$ 10,000,000 |
$ 7,000,000 |
|
|
81 – 85 |
$9,000,000 |
$ 7,000,000 |
$ 5,000,000 |
|
|
86 – 90 |
$4,000,000 |
$ 3,000,000 |
$ 2,000,000 |
V:\Nick\Reinsurance\Amendments\UL-VUL II\Binding-Retention-Jumbo Limits Change\Munich\Amendment #2 UL-VUL II – MUNICH PNJ.doc
|
|
Smokers |
|
Issue Age of Insured |
No Substandard Rating |
Class A – D |
Class E – H | |
|
Ages: |
0 - 65 |
$20,000,000 |
$ 20,000,000 |
$ 15,000,000 |
|
|
66 - 70 |
$15,000,000 |
$ 15,000,000 |
$ 12,000,000 |
|
|
71 - 75 |
$10,000,000 |
$ 10,000,000 |
$ 10,000,000 |
|
|
76 – 80 |
$10,000,000 |
$ 10,000,000 |
$ 6,000,000 |
|
|
81 – 85 |
$7,000,000 |
$ 6,000,000 |
$ 4,000,000 |
|
|
86 – 90 |
$3,000,000 |
$ 2,000,000 |
$ 2,000,000 |
V:\Nick\Reinsurance\Amendments\UL-VUL II\Binding-Retention-Jumbo Limits Change\Munich\Amendment #2 UL-VUL II – MUNICH PNJ.doc
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 June 1, 2002.
|
PRUCO LIFE INSURANCE COMPANY OF NEW JERSEY |
MUNICH AMERICAN REASSURANCE COMPANY |
|
By:________________________________ |
By:______________________________ |
|
Title:_______________________________ |
Title:_____________________________ |
|
Date:_______________________________ |
Date:_____________________________ |
|
By:________________________________ |
By:______________________________ |
|
Title:_______________________________ |
Title:_____________________________ |
|
Date:_______________________________ |
Date:_____________________________ |
V:\Nick\Reinsurance\Amendments\UL-VUL II\Binding-Retention-Jumbo Limits Change\Munich\Amendment #2 UL-VUL II – MUNICH PNJ.doc
