AMENDMENT
to
ASSUMPTION REINSURANCE AGREEMENT
Between
UNIVERSAL GUARANTY LIFE INSURANCE COMPANY
hereinafter referred to as "the Company"
and
FIRST INTERNATIONAL LIFE INSURANCE COMPANY
hereinafter referred to as "the Reinsurer"
WHEREAS, the Company and the Reinsurer have made and
entered into an Assumption Reinsurance Agreement dated as of
September 30, 1996 (the "Assumption Agreement"); and
WHEREAS, the Company and the Reinsurer wish to amend
certain provisions of the Assumption Agreement;
NOW, THEREFORE, in consideration of the mutual
agreements, promises and covenants provided herein, the
Company and the Reinsurer hereby agree to amend the
Assumption Agreement as follows:
SECTION 1.-DEFINITIONS
All terms used in this Amendment shall be subject to
the definitions provided in the Assumption Agreement.
The definition of Reinsured Policies in Article I shall
be replaced with the following:
""REINSURED POLICIES" means all paid-up life
insurance and, if attached thereto, annuity policies,
contracts, binders or certificates of insurance, and
all riders, endorsements and amendments thereto,
whether written or oral, issued or assumed by the
Company, that are in force on the Effective Date,
except those offered in settlement to so called "HIV"
policyholders and paid-up business associated with the
Company's Jr./Sr. Plan Single Premium Interest
Sensitive Whole Life policies, including, without
limitation, Policy Loans, all such Reinsured Policies
being set forth in Schedule G of the Coinsurance
Agreement."
SECTION 2.-COUNTERPARTS
This Amendment to the Assumption Agreement may be
executed in several counterparts and each shall have the
same force and effect as an original.
SECTION 3.-EFFECT
Except as amended herein, the Assumption
Agreement, together with all Exhibits, remains in full force
and effect.
IN WITNESS WHEREOF, UNIVERSAL GUARANTY LIFE INSURANCE
COMPANY and FIRST INTERNATIONAL LIFE INSURANCE COMPANY have
by their respective officers made and entered into this
Amendment as of the 30th day of September, 1996.
UNIVERSAL GUARANTY LIFE FIRST INTERNATIONAL LIFE
INSURANCE COMPANY INSURANCE COMPANY
Xxxxx X. Xxxxxxxx Xxxxxx Xxxxx
By By
President Vice President, Reinsurance
Title Title