EX-7.d.
AMENDMENT NO. 1
to the
VARIABLE ANNUITY GMIB REINSURANCE AGREEMENT
Between
XXXXXXX NATIONAL LIFE INSURANCE COMPANY OF NEW YORK
("CEDING COMPANY")
Purchase, New York
and
ACE TEMPEST LIFE REINSURANCE LTD.
("REINSURER")
Effective 12/16/03, this Amendment is hereby attached to and becomes a part of
the above-described Reinsurance Agreement. It is mutually agreed that the
Agreement will be updated to include a new GMIB option for the retail customers
and the table of Guaranteed Purchase Rates, along with other changes. To effect
these changes, the following provisions of this Agreement are hereby amended:
* Article III - EFFECTIVE DATE, TERM, AND TERMINATION, is hereby
replaced by the attached Article III.
* Schedule B-1, CONTRACTS SUBJECT TO THIS REINSURANCE AGREEMENT, is
hereby replaced by the attached Schedule B-1.
* Schedule B-2, SUBACCOUNTS SUBJECT TO THIS REINSURANCE AGREEMENT, is
hereby replaced by the attached Schedule B-2.
* Schedule C-2, LIMITS AND RULES OF THE REINSURER, is hereby replaced by
the attached Schedule C-2.
* Schedule D, QUARTERLY RE PREMIUM RATE BY CONTRACT TYPE AND GMIB TYPE,
is hereby replaced by the attached Schedule D.
* Schedule E-1, DOLLAR CLAIM LIMIT RATE BY CONTRACT TYPE AND GMIB TYPE,
is hereby replaced by the attached Schedule E-1.
* Schedule E-2, FORMULA CLAIM LIMIT RATE BY CONTRACT TYPE AND GMIB TYPE,
is hereby replaced by the attached Schedule E-2.
* Schedule F, REINSURER SHARE OF RISK BY CONTRACT TYPE AND GMIB TYPE, is
hereby replaced by the attached Schedule F.
* Schedule I, CALCULATION OF ADJUSTED GMIB CLAIM, is hereby replaced by
the attached Schedule X.
Xxxxxxx National Life Insurance Company
By XXXX X. XXXXX Attest XXX IRISH
------------- ---------
Title SVP & Chief Actuary Title Reinsurance Manager
------------------- -------------------
Date Dec. 24, 2003 Date Dec. 23, 2003
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ACE Tempest Life Reinsurance Ltd.
By XXX XXXXXX Attest XXXX XXXXX
---------- ----------
Title SVP AND CHIEF LIFE OFFICER Title XXXX XXXXX
-------------------------- ----------
Date DEC. 16, 2003 Date DEC. 16. 2003
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ARTICLE III - EFFECTIVE DATE, TERM AND TERMINATION
A. This Agreement covers individual ANNUITY CONTRACTs issued by the CEDING
COMPANY that:
(i) are among the CONTRACT TYPES identified by form in Schedule B-1;
(ii) have accounts invested in the investment funds listed in Schedule B-2;
(iii) are issued on and after the EFFECTIVE DATE and prior to the date this
Agreement terminates for new ACTIVE CONTRACTS;
(iv) are issued within the limits and rules described in Schedule C-1 and
C-2;
(v) are in compliance with all of the other terms and provisions of this
Agreement;
(vi) have elected to purchase the Guaranteed Minimum Income Benefit, as
described in Schedule A; and
(vii) are ACTIVE CONTRACTS.
The Agreement remains effective for ACTIVE CONTRACTS subject to the terms
and conditions of this Agreement, through the TERMINATION DATE, unless
terminated pursuant to the paragraphs listed below.
B. This Agreement will terminate for new ACTIVE CONTRACTS issued by the CEDING
COMPANY on the earlier of (i) [REDACTED] or (ii) the date that cumulative
RETAIL ANNUITY PREMIUMS exceed the limits provided in Schedule C-2,
Paragraph 4.
C. This Agreement will terminate with respect to each ACTIVE CONTRACT subject
to it, as of the last date of the REINSURANCE TERM for each ACTIVE
CONTRACT.
D. The CEDING COMPANY shall have the option of terminating this Agreement for
new business, existing business, or both, by giving ninety (90) days
advance notice to the REINSURER, after the occurrence of any of the
following:
1. REINSURER's Standard and Poor's Rating is reduced to a "BBB" or lower.
REINSURER must report any adverse change in Standard and Poor's Rating
to CEDING COMPANY within fifteen (15) days of the change. Any notice
of termination given by the CEDING COMPANY due to such rating
reduction shall be deemed withdrawn if REINSURER'S Standard and Poor's
Rating is restored to a level higher than "BBB" during the 90 day
notice period.;
2. An order is entered appointing a receiver, conservator or trustee for
management of REINSURER or a proceeding is commenced for
rehabilitation, liquidation, supervision or conservation of REINSURER;
3. REINSURER's U.S. GAAP surplus position is reduced to 75% or less of
its U.S. GAAP surplus position as of December 31, 2002. The REINSURER
must report such a reduction within fifteen (15) days after it occurs.
The REINSURER's surplus position as of December 31, 2000 is provided
in Schedule H. Any notice of termination given by the CEDING COMPANY
due to such surplus reduction shall be deemed withdrawn if REINSURER'S
U.S. GAAP surplus position is restored to a level higher than 75% of
its U.S. GAAP surplus position as of December 31, 2002 during the 90
day notice period.
E. The REINSURER shall have the option of terminating this Agreement for new
business, existing business or both by giving ninety (90) days advance
written notice to the CEDING COMPANY after the occurrence of any of the
following:
1. The CEDING COMPANY fails to provide timely submissions of all material
data required to be provided in accordance with Schedule G, provided
that the REINSURER's notice of termination identifies whether new
contracts, existing contracts or both will be terminated and provided
further that the REINSURER's notice of termination shall be deemed
withdrawn if the CEDING COMPANY, within 90 days after the date the
REINSURER's notice of termination is given, provides to the REINSURER
all data submissions then in arrears.
2. The CEDING COMPANY fails to pay a premium due on or before the
REMITTANCE DATE. In the event that a premium due is not paid by the
REMITTANCE DATE, the REINSURER shall have the right to terminate this
agreement by giving ninety (90) days advance notice of termination to
the CEDING COMPANY. If all premiums in default and interest in
accordance with Article III, Paragraph F are received by the REINSURER
within the ninety (90) day notice period, the Agreement will remain in
effect and the notice of termination deemed withdrawn. As of the close
of the last day of the ninety (90) day notice period, the REINSURER'S
liability for all risks reinsured associated with the defaulted
premiums under this Agreement will terminate.
F. Except as otherwise provided herein, upon termination of this Agreement for
existing business, REINSURER shall have no reinsurance liability with
respect to any ANNUITY CONTRACT. Notwithstanding termination of reinsurance
as provided herein, the REINSURER shall continue to be liable to the CEDING
COMPANY for all unpaid ADJUSTED GMIB CLAIMS arising as a result of a GMIB
EXERCISE of an ACTIVE CONTRACT made prior to the date this Agreement is
terminated, and the CEDING COMPANY shall continue to be liable to the
REINSURER for all unpaid QUARTERLY REINSURANCE PREMIUMS earned by the
REINSURER, under this Agreement until the date the Agreement is terminated.
Any net amounts due from either party after termination are subject to a
daily interest charge from the REMITTANCE DATE until the date paid. The
daily interest rate is equal to 1/365 times the sum of (1) the 3 month
LIBOR rate on the preceding MONTHLY VALUATION DATE, as published in the
Wall Street Journal, and (2) 1.00%.
SCHEDULE B-1
ANNUITY CONTRACTS Subject to this Reinsurance Agreement
Perspective II
o VA202-1 is an individual flexible Premium variable and fixed
annuity. VA250NY replaced VA202-1 effective 9/22/2003. o This
product has two Contract options:
o Separate Account Investment Division option; and
o Fixed Account Option.
A) Separate Account Investment Division Option
o This option allows the Owner to allocate Premiums and earnings to
one or more Investment Divisions of the Separate Account.
o JNL/NY Separate Account I is used for this Contract.
o The Separate Account invests in shares of one of the
corresponding Funds of the underlying fund of the JNL Series
Trust and JNL/NY Variable Fund I LLC (see Schedule B-2).
B) Optional Benefits
Form Number Policy Description
7340NY Death Benefit Option (Highest Anniversary Value)
7349NY Additional Free Withdrawal 20% of Premium
7343NY Shortened W/D Charge Period (5 year)
7343NY 04/03 Shortened W/D Charge Period (5 year)
7429NY Shortened W/D Charge Period (3 year)
7346NY Premium Credit (4%)
7348NY Premium Credit (2%)
7348NY 04/03 Premium Credit (2%)
7352NY Premium Credit (3%)
7344NY 03/03 Guaranteed Minimum Income Benefit (6% Roll-up)
7365NY 03/03 Guaranteed Minimum Income Benefit (6% Roll-up)
7452NY Guaranteed Minimum Income Benefit (5% Roll-up)
Perspective Focus (Available prior to 10/24/2003)
o VA260NY is an individual flexible Premium variable and fixed
annuity
o This product has two Contract options:
o Separate Account Investment Division option; and
o Fixed Account Option
A) Separate Account Investment Division Option
This option allows the Owner to allocate Premiums and earnings to one
or more Investment Divisions of the Separate Account. JNL/NY Separate
Account I is used for this Contract. The Separate Account invests in
shares of one of the corresponding Funds of the underlying fund of the
JNL Series Trust and JNL/NY Variable Fund I LLC (see Schedule B-2).
B) Optional Benefits
Form Number Policy Description
7362NY Death Benefit Option (MAV)
7364NY Premium Credit (2%)
7365NY Guaranteed Minimum Income Benefit
Schedule B-1 Amendment No. 1 - NY
SCHEDULE B-2
Subaccounts Subject to this Reinsurance Agreement
JNL SERIES TRUST and JNL VARIABLE FUND LLC
JNL/Xxxxx Growth Fund
JNL/Alliance Capital Growth Fund
JNL/Eagle Core Equity Fund
JNL/Eagle SmallCap Equity Fund
JNL/Janus Aggressive Growth Fund
JNL/Janus Balanced Fund
JNL/Janus Capital Growth Fund
JNL/Xxxxxx Equity Fund
JNL/Xxxxxx International Equity Xxxx
XXX/Xxxxxx Xxxxxx Xxxxxx Xxxx
XXX/Xxxxxx Value Equity Fund
JNL/S&P Conservative Growth Fund I
JNL/S&P Moderate Growth Fund I
JNL/S&P Aggressive Growth Fund I
JNL/S&P Very Aggressive Growth Fund I
JNL/S&P Equity Growth Fund I
JNL/S&P Equity Aggressive Growth Fund I
JNL/PPM America Balanced Fund
JNL/PPM America High Yield Bond Fund
JNL/PPM America Money Market Fund
JNL/PPM America Value Fund
JNL/Salomon Brothers Global Bond Fund
JNL/Salomon Brothers U.S. Govt. & Quality Bond Fund
JNL/X. Xxxx Price Established Growth Fund
JNL/X. Xxxx Price Mid-Cap Growth Fund
JNL/X. Xxxx Price Value Fund
JNL/Xxxxxxxxxxx Global Growth Fund
JNL/Xxxxxxxxxxx Growth Fund
JNL/AIM Premier Equity II Fund
JNL/AIM Small Cap Growth Fund
JNL/AIM Large Cap Growth Fund
JNL/PIMCO Total Return Bond Fund
JNL/Lazard Small Cap Value Fund
JNL/Lazard Mid Cap Value Fund
JNL/Curian S&P 500 Index Fund, formerly Mellon Capital Management prior to
12/15/2003
JNL/Curian S&P 400 Mid Cap Index Fund, formerly Mellon Capital
Management(prior to 12/15/2003
JNL/Curian Small Cap Index Fund, formerly Mellon Capital Management prior to
12/15/2003
Mellon Capital Management/JNL International Index Fund
Mellon Capital Management/JNL Bond Index Fund
JNL/Curian Enhanced S&P 500 Stock Index Fund, formerly JPMorgan/JNL prior to
12/15/2003
JPMorgan/JNL International Value Fund
S&P/JNL Core Index 100 Fund *
S&P/JNL Core Index 50 Fund *
S&P/JNL Core Index 75 Fund *
*These will not be offered as underlying funds to the S&P/JNL I Series.
JNL/Janus Global Equities Fund -The Janus/JNL Global Equities Fund (the "Fund")
is not available through a division as an investment option and is not available
as an underlying fund to the S&P/JNL Core Index 50 Fund and the S&P/JNL Core
Index 75 Fund. However, the Fund is available as an underlying fund of the
S&P/JNL Conservative Growth Fund I, the S&P/JNL Moderate Growth Fund I, the
S&P/JNL Aggressive Growth Fund I, the S&P/JNL Very Aggressive Growth Fund I, the
S&P/JNL Equity Growth Fund I and the S&P/JNL Equity Aggressive Growth Fund I.
JNL/Curian The Dowsm Target 10 Fund, formerly First Trust/JNL The Dowsm Target
10 Fund (prior to 12/15/2003)
JNL/Curian S&P Target (R) 10 Fund, formerly First Trust/JNL S&P Target (R) 10
Fund (prior to 12/15/2003)
JNL/Curian Global Target 15 Fund, formerly First Trust/JNL Global Target 15 Fund
(prior to 12/15/2003)
JNL/Curian Target Small Cap Fund, formerly First Trust/JNL Target Small Cap
Fund (prior to 12/15/2003)
JNL/Curian First Trust/JNL Target 25 Fund, formerly First Trust/JNL Target 25
Fund (prior to 12/15/2003)
JNL/Curian Communications Sector Fund
JNL/Curian Consumer Brands Sector Fund
JNL/Curian Energy Sector Fund
JNL/Curian Financial Sector Fund
JNL/Curian Pharmaceutical/Healthcare Sector Fund
JNL/Curian Technology Sector Fund
FIXED SUBACCOUNTS
Xxxxxxx National Life Insurance Company General Account:
Perspective II
Guaranteed One Year Fixed
Guaranteed Three Year Fixed
Guaranteed Five Year Fixed
Guaranteed Seven Year Fixed
Guaranteed One Year - 12 month DCA
Guaranteed One Year - 6 Month DCA (available prior to 9/23/2003)
Perspective Focus
Guaranteed One Year Fixed
Guaranteed Three Year Fixed
Guaranteed One Year - 12 month DCA
Schedule B-2 Amendment No. 1 - NY
SCHEDULE C-2
Limits and Rules of the REINSURER
1) The maximum RETAIL ANNUITY PREMIUM made under any ANNUITY CONTRACT without
REINSURER approval is [REDACTED].
2) The REINSURER's liability cannot be increased as a result of CEDING
COMPANY's actions with respect to contested claims.
3) The REINSURER will not be liable for extracontractual damages (whether they
constitute compensatory damages, statutory penalties, exemplary or punitive
damages) which are awarded against the CEDING COMPANY.
4) The REINSURER's liability to accept new business hereunder could end before
[REDACTED] . The REINSURER's liability to accept new business hereunder
will end on the BUSINESS DAY when the cumulative RETAIL ANNUITY PREMIUMS
for the ACTIVE CONTRACTS exceed [REDACTED], unless extended by mutual
written agreement. RETAIL ANNUITY PREMIUMS paid on an ACTIVE CONTRACTS
subsequent to the date on which the REINSURER's liability to accept new
business ends are not included when calculating the limits provided in this
Paragraph.
5) A contract where a spousal continuation occurs will be subject to this
Agreement and not characterized as new business as described in paragraph 4
of this section.
Schedule C-2 Amendment No. 1 - NY
SCHEDULE D
QUARTERLY RE PREMIUM RATE by CONTRACT TYPE and GMIB TYPE
The Premium rate for reinsurance, subject to the terms and conditions of this
Agreement, are guaranteed while the reinsurance coverage is in effect. Issue
ages are based on age last birthday. The premium rate varies by issue date.
CONTRACT TYPES:
Perspective II, Perspective Focus
GMIB TYPES:
Form numbers 7344NY 03/03, 7365NY, 7365NY 03/03, and 7452NY
ANNUITY CONTRACTS issued before 5/1/2004
ISSUE AGE RATE
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All [REDACTED]
ANNUITY CONTRACTS issued 5/1/2004 and after
ISSUE AGE RATE
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All [REDACTED]
Schedule D Amendment No. 1 - NY
SCHEDULE E-1
DOLLAR CLAIM LIMIT RATE by CONTRACT TYPE and GMIB TYPE
CONTRACT TYPES:
Perspective II, Perspective Focus
GMIB TYPES:
Form numbers 7344NY 03/03, 7365NY, 7365NY 03/03, and 7452NY
ISSUE AGE RATE
--------- ----
All [REDACTED]
Schedule E-1 Amendment No. 1 - NY
SCHEDULE E-2
FORMULA CLAIM LIMIT RATE by CONTRACT TYPE and GMIB TYPE
The FORMULA CLAIM LIMIT RATE is calculated for each ANNUITY CONTRACT on all
MONTHLY VALUATION DATES prior to the ANNUITY CONTRACT's eligibility to annuitize
under the GMIB TYPE.
CONTRACT TYPES:
Perspective II, Perspective Focus
GMIB TYPES:
Form numbers 7344NY 03/03, 7365NY, 7365NY 03/03, and 7452NY
ISSUE AGE RATE
--------- ----
All [REDACTED]
Schedule E-2 Amendment No. 1 - NY
SCHEDULE F
REINSURER Share of Risk by CONTRACT TYPE and GMIB TYPE
For each ANNUITY CONTRACT with RETAIL ANNUITY PREMIUM no greater than
[REDACTED], the REINSURER liability will be based on the share of risk from the
tables below.
For each ANNUITY CONTRACT with aggregate RETAIL ANNUITY PREMIUM in excess of
[REDACTED], the REINSURER's liability equals [REDACTED] divided by aggregate
retail annuity premiums}, times the share of risk from the tables below.
GMIB TYPES:
Form numbers 7344NY 03/03, 7365NY, 7365NY 03/03, and 7452NY
CONTRACT TYPE SHARE OF RISK
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Perspective II [REDACTED]
Perspective Focus [REDACTED]
Schedule F Amendment No. 1 - NY
SCHEDULE I
Calculation of ADJUSTED GMIB CLAIM
A. Income Benefit Net Amount at Risk (IBNARt)
The IBNARt for each ANNUITY CONTRACT reinsured hereunder in calendar year t
shall be equal to the following:
IBNARt = [REDACTED]
where:
RGIBt is the REINSURED GMIB INCOME BASE, and RAVt is the REINSURED ACCOUNT
VALUE, both as defined in Article I, calculated on the ANNUITY CONTRACT's
anniversary in calendar year t.
GAPRt is the Guaranteed Annuity Purchase Rate (monthly income per $1000 of
RGIB), calculated on the ANNUITY CONTRACT's anniversary in year t, using the
following assumptions:
Mortality Table Annuity2000
Age Setback 10 years
Mortality Improvement: None
Interest Rate: 2.5% all years
Age: Age Last Birthday on exercise date
Annuity Form: Life contingent, not to exceed 10-year certain
Annuity Load: 2.0% used in table shown in paragraph D.
CAPRt is the Current Annuity Purchase Rate (monthly income per $1000 of RGIB),
calculated on the ANNUITY CONTRACT's anniversary in calendar year t, using the
following assumptions:
Mortality Table Annuity2000
Age Setback None
Mortality Improvement: Scale G (1995TSA)
Interest Rate: The yield on the most recently auctioned 10-year
Treasury Security, as posted in the Wall Street Journal,
at the beginning of the month in which exercise occurs,
plus 75 bps
Age: Age Last Birthday on exercise date
Annuity Form: Life contingent, not to exceed 10-year certain
The impact of premium taxes, commissions, other expenses, and gender on the
calculation of GAPRt and CAPRt will be applied on a consistent basis.
The monthly income calculated from CAPRt is for reinsurance purposes only, and
the CEDING COMPANY may use other approaches with retail customers.
B. Annual Annuitization Limit Ratio (AALRatiot)
The AALRatiot for calendar year t shall be equal to the following:
AALRatiot = [REDACTED]
where:
ExercisedRGIBt is the sum of the REINSURED GMIB INCOME BASE for each ACTIVE
CONTRACT that terminates in calendar year t through a GMIB EXERCISE, measured on
the ACTIVE CONTRACT's anniversary during calendar year t.
EligibleRGIBt is the sum of the REINSURED GMIB INCOME BASE for each ACTIVE
CONTRACT that has been reinsured hereunder for at least 120 months, measured on
the earlier of the ACTIVE CONTRACT's anniversary during calendar year t, or the
date that the ACTIVE CONTRACT terminates during calendar year t.
C. ADJUSTED GMIB CLAIM (AdjGMIBt)
The ADJUSTED GMIB CLAIM for each ANNUITY CONTRACT that terminates in calendar
year t through a GMIB EXERCISE shall be equal to the following:
AdjGMIBt = [REDACTED]
D. GUARANTEED ANNUITY PURCHASE RATES TABLES
The following table contains the Guaranteed Annuity Purchase Rates for both
"life only" and "life with 10-year certain" annuitization payout options for
attained ages 40 through 99. Values shown are the monthly income amounts per
$1,000 applied. The purchase rates for other ages and options are to be
calculated in a consistent manner.
[TABLE REDACTED]
Schedule I Amendment No. 1 - NY
AMENDMENT NO. 3
TO THE
VARIABLE ANNUITY GMIB REINSURANCE AGREEMENT
Between
XXXXXXX NATIONAL LIFE INSURANCE COMPANY OF NEW YORK
("CEDING COMPANY")
Purchase, New York
and
ACE TEMPEST LIFE REINSURANCE LTD.
("REINSURER")
Effective October 4, 2004, this Amendment is hereby attached to and becomes a
part of the above-described Reinsurance Agreement. It is mutually agreed that
the Agreement will be amended to add a new contract form to replace the current
one, to add a new endorsement form for a 4% premium credit and to update the
available fund offerings. To effect these changes, the following provisions of
this Agreement are hereby amended:
|X| Schedule B-1, CONTRACTS SUBJECT TO THIS REINSURANCE AGREEMENT, is hereby
replaced by the attached Schedule B-1.
|X| Schedule B-2, SUBACCOUNTS SUBJECT TO THE REINSURANCE AGREEMENT, is hereby
replaced by the attached Schedule B-2.
Xxxxxxx National Life Insurance Company of New York
By XXXX X. XXXXX Attest XXXXX X. XXXXXXXXXX
------------- -------------------
Name XXXX X. XXXXX Name XXXXX X. XXXXXXXXXX
------------- -------------------
Title SVP & CHIEF ACTUARY Title REINSURANCE MANAGER
------------------- -------------------
Date 12/21/04 Date 12/21/2004
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ACE Tempest Life Reinsurance Ltd.
By XXX XXXXXX Attest XXXX XXXXX
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Name XXX XXXXXX Name XXXX XXXXX
---------- ----------
Title SVP AND CHIEF LIFE OFFICER Title VP AND LIFE ACTUARY
-------------------------- -------------------
Date DEC. 13, 2004 Date DEC. 13, 2004
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SCHEDULE B-1
ANNUITY CONTRACTS Subject to this Reinsurance Agreement
Perspective II
o VA202-1 is an individual flexible Premium variable and fixed
annuity.
VA202-1 9/03 replaced VA202-1, effective 9/22/2003.
VA250NY replaced VA202-1 9/03.
VA250NY 05/04 replaced VA250NY effective 5/3/2004. VA220NY
replaced VA250NY 05/04 effective 10/4/2004.
o This product has two Contract options:
o Separate Account Investment Division option; and
o Fixed Account Option.
A) Separate Account Investment Division Option
o This option allows the Owner to allocate Premiums and earnings to
one or more Investment Divisions of the Separate Account.
o JNLNY Separate Account I is used for this Contract.
o The Separate Account invests in shares of one of the
corresponding Funds of the underlying fund of the JNL Series
Trust, JNL Variable Fund LLC, and JNLNY Variable Fund I LLC (see
Schedule B-2).
B) Optional Benefits
Form Number Policy Description
7340NY Death Benefit Option (Highest Anniversary Value)
7349NY Additional Free Withdrawal 20% of Premium
7349NY 04/03 Additional Free Withdrawal 20% of Premium
7343NY Shortened W/D Charge Period (5 year)
7343NY 04/03 Shortened W/D Charge Period (5 year)
7429NY Shortened W/D Charge Period (3 year)
7346NY 05/04 Premium Credit (4%)
7348NY Premium Credit (2%)
7348NY 08/03 Premium Credit (2%)
7352NY Premium Credit (3%)
7352NY 08/03 Premium Credit (3%)
7344NY 03/03 Guaranteed Minimum Income Benefit (6% Roll-up)
7365NY 03/03 Guaranteed Minimum Income Benefit (6% Roll-up)
7452NY Guaranteed Minimum Income Benefit (5% Roll-up) -
Effective 5/3/2004
7470NY Death Benefit Option (Highest Anniversary Value)
Perspective Focus (Available prior to 10/24/2003)
o VA260NY is an individual flexible Premium variable and fixed
annuity
o This product has two Contract options:
o Separate Account Investment Division option; and
o Fixed Account Option
A) Separate Account Investment Division Option
This option allows the Owner to allocate Premiums and earnings to one
or more Investment Divisions of the Separate Account.
JNLNY Separate Account I is used for this Contract.
The Separate Account invests in shares of one of the corresponding
Funds of the underlying fund of the JNL Series Trust and JNL Variable
Fund LLC, (see Schedule B-2).
B) Optional Benefits
Form Number Policy Description
7362NY Death Benefit Option (MAV)
7364NY Premium Credit (2%)
7365NY Guaranteed Minimum Income Benefit (6% Roll-up)
7381NY Reduced Administration Charge Endorsement
SCHEDULE B-1 AMENDMENT NO. 3 - NY
SCHEDULE B-2
Subaccounts Subject to this Reinsurance Agreement
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FUND NAME COMMENT
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JNL/AIM Large Cap Growth Fund 2/18/2004 merged with JNL/AIM Premier Equity II Fund
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JNL/AIM Small Cap Growth Fund
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JNL/Xxxxx Growth Fund
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JNL/Alliance Capital Growth Fund
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JNL/Eagle Core Equity Fund
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JNL/Eagle SmallCap Equity Fund
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JNL/FMR Balanced Fund Subadvisor changed from Janus on 2/18/04
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JNL/FMR Capital Growth Fund Subadvisor changed from Janus on 2/18/04
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JNL/JPMorgan International Value Fund
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JNL/Lazard Mid Cap Value Fund
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JNL/Lazard Small Cap Value Fund
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JNL/ Mellon Capital Management 25 Fund Subadvisor changed from Curian effective 2/18/04
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JNL/Mellon Capital Management Bond Index Fund
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JNL/ Mellon Capital Management Communications Sector Fund Subadvisor changed from Curian effective 2/18/04
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JNL/ Mellon Capital Management Consumer Brands Sector Fund Subadvisor changed from Curian effective 2/18/04
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JNL/ Mellon Capital Management Energy Sector Fund Subadvisor changed from Curian effective 2/18/04
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JNL/Mellon Capital Management Enhanced S&P 500 Stock Index Fund Subadvisor was Curian between 12/15/03 and 2/18/04 and JPMorgan
prior to 12/15/03
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JNL/ Mellon Capital Management Financial Sector Fund Subadvisor changed from Curian effective 2/18/04
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JNL/ Mellon Capital Management Global 15 Fund
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JNL/Mellon Capital Management International Index Fund
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JNL/ Mellon Capital Management JNL 5 Fund Effective 10/4/04
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JNL/ Mellon Capital Management Pharmaceutical/Healthcare Sector Subadvisor changed from Curian effective 2/18/04
Fund
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JNL/Mellon Capital Management S&P 400 MidCap Index Fund Subadvisor was Curian between 12/15/03 and 2/18/04 and Mellon
Capital Management prior to 12/15/03
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JNL/Mellon Capital Management S&P 500 Index Fund Subadvisor was Curian between 12/15/03 and 2/18/04 and Mellon
Capital Management prior to 12/15/03
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JNL/ Mellon Capital Management Select Small-Cap Fund Subadvisor changed from Curian effective 2/18/04
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JNL/Mellon Capital Management Small Cap Index Fund Subadvisor was Curian between 12/15/03 and 2/18/04 and Mellon
Capital Management prior to 12/15/03
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JNL/ Mellon Capital Management Technology Sector Fund Subadvisor changed from Curian effective 2/18/04
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JNL/ Mellon Capital Management The Dowsm 10 Fund
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JNL/ Mellon Capital Management The S&P(R) 10 Fund
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JNL/ Mellon Capital Management VIP Fund Effective 10/4/2004
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JNL/ Mellon Capital NASDAQ(R) 15 Fund Effective 10/4/2004
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JNL/ Mellon Capital Value Line(R) 25 Fund Effective 10/4/2004
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JNL/Xxxxxxxxxxx Global Growth Fund
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JNL/Xxxxxxxxxxx Growth Fund
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JNL/PIMCO Total Return Bond Fund
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JNL/Xxxxxx Equity Fund
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JNL/Xxxxxx International Equity Fund
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JNL/Xxxxxx Xxxxxx Growth Fund
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JNL/Xxxxxx Value Equity Fund
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JNL/S&P Managed Growth Fund Prior to 10/4/04 named JNL/S&P Moderate Growth Fund I. On 10/4/04
merged with JNL/S&P Core Index 100 Fund
---------------------------------------------------------------- -------------------------------------------------------------------
---------------------------------------------------------------- -------------------------------------------------------------------
JNL/S&P Managed Aggressive Growth Fund Prior to 10/4/04 named JNL/S&P Aggressive Growth Fund I. On 10/4/04
merged with JNL/S&P Equity Growth Fund I, JNL/S&P Equity Aggressive
Growth Fund I, JNL/S&P Very Aggressive Growth Fund I, JNL/S&P Core
Index 50 Fund, and JNL/S&P Core Index 75 Fund
---------------------------------------------------------------- -------------------------------------------------------------------
---------------------------------------------------------------- -------------------------------------------------------------------
JNL/S&P Managed Conservative Fund Effective 10/4/04
---------------------------------------------------------------- -------------------------------------------------------------------
---------------------------------------------------------------- -------------------------------------------------------------------
JNL/S&P Managed Moderate Fund Effective 10/4/04
---------------------------------------------------------------- -------------------------------------------------------------------
---------------------------------------------------------------- -------------------------------------------------------------------
JNL/S&P Managed Moderate Growth Fund Prior to 10/4/04 named JNL/S&P Conservative Growth Fund I
---------------------------------------------------------------- -------------------------------------------------------------------
---------------------------------------------------------------- -------------------------------------------------------------------
JNL/Salomon Brothers High Yield Bond Fund Effective 10/4/04. JNL/PPM America High Yield Bond Fund was merged
into this on 10/4/04
---------------------------------------------------------------- -------------------------------------------------------------------
---------------------------------------------------------------- -------------------------------------------------------------------
JNL/Salomon Brothers Strategic Bond Fund Formerly JNL/Salomon Brothers Global Bond Fund
---------------------------------------------------------------- -------------------------------------------------------------------
---------------------------------------------------------------- -------------------------------------------------------------------
JNL/Salomon Brothers U.S. Govt. & Quality Bond Fund
---------------------------------------------------------------- -------------------------------------------------------------------
---------------------------------------------------------------- -------------------------------------------------------------------
JNL/Select Balanced Fund Prior to 10/4/04 named JNL/PPM America Balanced Fund
---------------------------------------------------------------- -------------------------------------------------------------------
---------------------------------------------------------------- -------------------------------------------------------------------
JNL/Select Global Growth Fund Formerly JNL/Janus Global Equities Fund
---------------------------------------------------------------- -------------------------------------------------------------------
---------------------------------------------------------------- -------------------------------------------------------------------
JNL/Select Large Cap Growth Fund Formerly JNL/Janus Aggressive Growth Fund
---------------------------------------------------------------- -------------------------------------------------------------------
---------------------------------------------------------------- -------------------------------------------------------------------
JNL/Select Money Market Fund Prior to 10/4/04 named JNL/PPM America Money Market Fund
---------------------------------------------------------------- -------------------------------------------------------------------
---------------------------------------------------------------- -------------------------------------------------------------------
JNL/Select Value Fund Prior to 10/4/04 named PPM JNL/PPM America Value Fund
---------------------------------------------------------------- -------------------------------------------------------------------
---------------------------------------------------------------- -------------------------------------------------------------------
JNL/X. Xxxx Price Established Growth Fund
---------------------------------------------------------------- -------------------------------------------------------------------
---------------------------------------------------------------- -------------------------------------------------------------------
JNL/X. Xxxx Price Mid-Cap Growth Fund
---------------------------------------------------------------- -------------------------------------------------------------------
---------------------------------------------------------------- -------------------------------------------------------------------
JNL/X. Xxxx Price Value Fund
---------------------------------------------------------------- -------------------------------------------------------------------
---------------------------------------------------------------- -------------------------------------------------------------------
---------------------------------------------------------------- -------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
JNL GENERAL ACCOUNT
------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------- -------------------------------------------------------------------
Guaranteed Five Year Fixed
---------------------------------------------------------------- -------------------------------------------------------------------
---------------------------------------------------------------- -------------------------------------------------------------------
Guaranteed One Year Fixed
---------------------------------------------------------------- -------------------------------------------------------------------
---------------------------------------------------------------- -------------------------------------------------------------------
Guaranteed Seven Year Fixed
---------------------------------------------------------------- -------------------------------------------------------------------
---------------------------------------------------------------- -------------------------------------------------------------------
Guaranteed Three Year Fixed
---------------------------------------------------------------- -------------------------------------------------------------------
---------------------------------------------------------------- -------------------------------------------------------------------
S&P 500 Composite Stock Price Index - 9 Year Period Only available prior to 10/4/04
---------------------------------------------------------------- -------------------------------------------------------------------
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Perspective II
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SCHEDULE B-2 AMENDMENT NO. 3 - NY
AMENDMENT NO. 4
TO THE
VARIABLE ANNUITY GMIB REINSURANCE AGREEMENT
Between
XXXXXXX NATIONAL LIFE INSURANCE COMPANY OF NEW YORK
("CEDING COMPANY")
Purchase, New York
and
ACE TEMPEST LIFE REINSURANCE LTD.
("REINSURER")
As of the effective dates shown, this Amendment is hereby attached to and
becomes a part of the above-described Reinsurance Agreement. It is mutually
agreed that the Agreement will be amended to close the treaty for new business
effective [REDACTED], to change the reserve section to mirror that of the 2005
treaty as of [REDACTED], and to reflect the addition of new funds effective
5/2/2005. To effect these changes, the following provisions of this Agreement
are hereby amended:
* Article III - EFFECTIVE DATE, TERM, AND TERMINATION, Amendment No. 1,
is hereby replaced by the attached Article III.
* Article VII - RESERVES, is hereby replaced by the attached Article
VII.
* Schedule B-2, SUBACCOUNTS SUBJECT TO THE REINSURANCE AGREEMENT,
Amendment No. 3, is hereby replaced by the attached Schedule B-2.
* Schedule C-2, LIMITS AND RULES OF THE REINSURER, Amendment No. 1, is
hereby replaced by the attached Schedule C-2.
Xxxxxxx National Life Insurance Company ACE Tempest Life Reinsurance Ltd.
By XXXX X. XXXXX By XXX XXXXXX
------------- ----------
Name XXXX X. XXXXX Name XXX XXXXXX
------------- ----------
Title SVP & CHIEF ACTUARY Title PRESIDENT
------------------- ---------
Date SEPT. 16, 2005 Date SEPT. 2, 2005
-------------- -------------
JNL ACE TREATY AMENDMENT NO. 4 - NY
ARTICLE III - EFFECTIVE DATE, TERM AND TERMINATION
A. This Agreement covers individual ANNUITY CONTRACTs issued by the CEDING
COMPANY that:
(i) are among the CONTRACT TYPES identified by form in Schedule B-1;
(ii) have accounts invested in the investment funds listed in Schedule B-2;
(iii) are issued on and after the EFFECTIVE DATE and prior to the date this
Agreement terminates for new ACTIVE CONTRACTS;
(iv) are issued within the limits and rules described in Schedule C-1 and
C-2;
(v) are in compliance with all of the other terms and provisions of this
Agreement;
(vi) have elected to purchase the Guaranteed Minimum Income Benefit, as
described in Schedule A; and
(vii) are ACTIVE CONTRACTS.
The Agreement remains effective for ACTIVE CONTRACTS subject to the terms
and conditions of this Agreement, through the TERMINATION DATE, unless
terminated pursuant to the paragraphs listed below.
B. This Agreement will terminate for new ACTIVE CONTRACTS issued by the CEDING
COMPANY on the earlier of (i) [REDACTED] or (ii) the date that cumulative
RETAIL ANNUITY PREMIUMS exceed the limits provided in Schedule C-2,
Paragraph 4.
C. This Agreement will terminate with respect to each ACTIVE CONTRACT subject
to it, as of the last date of the REINSURANCE TERM for each ACTIVE
CONTRACT.
D. The CEDING COMPANY shall have the option of terminating this Agreement for
new business, existing business, or both, by giving ninety (90) days
advance notice to the REINSURER, after the occurrence of any of the
following:
1. REINSURER's Standard and Poor's Rating is reduced to a "BBB" or lower.
REINSURER must report any adverse change in Standard and Poor's Rating
to CEDING COMPANY within fifteen (15) days of the change. Any notice
of termination given by the CEDING COMPANY due to such rating
reduction shall be deemed withdrawn if REINSURER'S Standard and Poor's
Rating is restored to a level higher than "BBB" during the 90 day
notice period.;
2. An order is entered appointing a receiver, conservator or trustee for
management of REINSURER or a proceeding is commenced for
rehabilitation, liquidation, supervision or conservation of REINSURER;
3. REINSURER's U.S. GAAP surplus position is reduced to 75% or less of
its U.S. GAAP surplus position as of December 31, 2002. The REINSURER
must report such a reduction within fifteen (15) days after it occurs.
The REINSURER's surplus position as of December 31, 2000 is provided
in Schedule H. Any notice of termination given by the CEDING COMPANY
due to such surplus reduction shall be deemed withdrawn if REINSURER'S
U.S. GAAP surplus position is restored to a level higher than 75% of
its U.S. GAAP surplus position as of December 31, 2002 during the 90
day notice period.
E. The REINSURER shall have the option of terminating this Agreement for new
business, existing business or both by giving ninety (90) days advance
written notice to the CEDING COMPANY after the occurrence of any of the
following:
1. The CEDING COMPANY fails to provide timely submissions of all material
data required to be provided in accordance with Schedule G, provided
that the REINSURER's notice of termination identifies whether new
contracts, existing contracts or both will be terminated and provided
further that the REINSURER's notice of termination shall be deemed
withdrawn if the CEDING COMPANY, within 90 days after the date the
REINSURER's notice of termination is given, provides to the REINSURER
all data submissions then in arrears.
2. The CEDING COMPANY fails to pay a premium due on or before the
REMITTANCE DATE. In the event that a premium due is not paid by the
REMITTANCE DATE, the REINSURER shall have the right to terminate this
agreement by giving ninety (90) days advance notice of termination to
the CEDING COMPANY. If all premiums in default and interest in
accordance with Article III, Paragraph F are received by the REINSURER
within the ninety (90) day notice period, the Agreement will remain in
effect and the notice of termination deemed withdrawn. As of the close
of the last day of the ninety (90) day notice period, the REINSURER'S
liability for all risks reinsured associated with the defaulted
premiums under this Agreement will terminate.
F. Except as otherwise provided herein, upon termination of this Agreement for
existing business, REINSURER shall have no reinsurance liability with
respect to any ANNUITY CONTRACT. Notwithstanding termination of reinsurance
as provided herein, the REINSURER shall continue to be liable to the CEDING
COMPANY for all unpaid ADJUSTED GMIB CLAIMS arising as a result of a GMIB
EXERCISE of an ACTIVE CONTRACT made prior to the date this Agreement is
terminated, and the CEDING COMPANY shall continue to be liable to the
REINSURER for all unpaid QUARTERLY REINSURANCE PREMIUMS earned by the
REINSURER, under this Agreement until the date the Agreement is terminated.
Any net amounts due from either party after termination are subject to a
daily interest charge from the REMITTANCE DATE until the date paid. The
daily interest rate is equal to 1/365 times the sum of (1) the 3 month
LIBOR rate on the preceding MONTHLY VALUATION DATE, as published in the
Wall Street Journal, and (2) 1.00%.
ARTICLE III AMENDMENT NO. 4 - NY
ARTICLE VII - RESERVES
It is the intention of both the REINSURER and the CEDING COMPANY that the CEDING
COMPANY qualifies for reinsurance credit in the state of New York for
reinsurance ceded hereunder. As a non-authorized reinsurer in New York,
REINSURER shall comply with all applicable laws and regulations, including the
New York Insurance Law relating to reinsurance credit for non-authorized
reinsurers, as promulgated in New York's statutes on the EFFECTIVE DATE of this
Agreement.
The amount of reinsurance credit will be determined based on applicable
regulations at the time of calculation but may not materially exceed the level
of reserves calculated in accordance with the proposed Actuarial Guideline
VACARVM as of the March 1, 2005.
A. It is agreed that when the CEDING COMPANY establishes statutorily required
reserves for future ADJUSTED GMIB CLAIMs covered hereunder, as required by
law, the CEDING COMPANY will forward to the REINSURER a statement showing
such reserves. The REINSURER agrees to secure its share of such reserves
with:
1. Clean, irrevocable and unconditional letters of credit meeting the
requirements of New York Insurance Department Regulation 133 (N.Y.
XXXX.XXXXX R. & REGS. tit. 11 section 79.5 (2003) ("Letters of Credit"
or, in the singular, "Letter of Credit"); and/or
2. A trust account established pursuant to a trust agreement meeting the
requirements of New York Insurance Department Regulation 114 (N.Y.
XXXX.XXXXX R. & REGS. tit.11 section 126 (2003) (the "Trust Account").
B. At regular intervals, at least annually but never more frequently than
quarterly, the CEDING COMPANY shall prepare a specific statement of the
REINSURER's obligations in respect of future ADJUSTED GMIB CLAIMs, for the
purpose of amending the Letter(s) of Credit and/or adjusting the amount
held in the Trust Account, as applicable. The purpose of any such amendment
is to ensure that the aggregate security provided by Letter(s) of Credit
and/or the Trust Account, as applicable, is not less than the amount
required to fund the REINSURER'S share of obligations in respect of future
ADJUSTED GMIB CLAIMS.
C. If the statement described in Paragraph B of this Article shows that an
amount equal to 95% of the REINSURER's obligations in respect of future
ADJUSTED GMIB CLAIMs exceeds the sum of the balance of credit available
under the Letter(s) of Credit as of the statement date plus the value of
the Trust Account as of such date, the REINSURER shall, within thirty (30)
calendar days after receipt of notice of such excess, secure delivery to
the CEDING COMPANY of an amendment to the Letter(s) of Credit increasing
the amount of credit, and/or deposit additional assets into the Trust
Account, by an aggregate amount of such difference.
D. If the statement described in Paragraph B of this Article shows that an
amount equal to 105% of the REINSURER's obligations in respect of future
ADJUSTED GMIB CLAIMs is less than the sum of the balance of credit
available under the Letter(s) of Credit as of the statement date plus the
value of the Trust Account as of such date, the CEDING COMPANY shall,
within thirty (30) calendar days after receipt of written request from the
REINSURER, release such excess security by agreeing to secure an amendment
to the Letter(s) of Credit reducing the amount of credit available, and/or
arrange for a release of assets from the Trust Account, by an aggregate
amount equal to the amount by which the balance of credit available exceeds
105% of the REINSURER's obligations in respect of future ADJUSTED GMIB
CLAIMs.
ARTICLE VII AMENDMENT NO. 4 - NY
SCHEDULE B-2
Subaccounts Subject to this Reinsurance Agreement
----------------------------------------------------------- ------------------------------------------------------------------------
FUND NAME COMMENT
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/AIM Large Cap Growth Fund 2/18/2004 merged with JNL/AIM Premier Equity II Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/AIM Real Estate Fund New 5/2/05
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/AIM Small Cap Growth Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Xxxxx Growth Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Eagle Core Equity Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Eagle SmallCap Equity Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/FMR Balanced Fund Subadvisor changed from Janus on 2/18/04
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/FMR Capital Growth Fund Subadvisor changed from Janus on 2/18/04
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Franklin Xxxxxxxxx Small Cap Value Fund New 5/2/05
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Xxxxxxx Sachs Mid Cap Value Fund New 5/2/05
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/JPM International Equity Fund Named changed from JNL/Xxxxxx International Equity Fund on 5/2/05
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/JPMorgan International Value Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Lazard Mid Cap Value Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Lazard Small Cap Value Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/ Mellon Capital Management 25 Fund Subadvisor changed from Curian effective 2/18/04
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management Bond Index Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management Communications Sector Fund Subadvisor changed from Curian effective 2/18/04
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management Consumer Brands Sector Fund Subadvisor changed from Curian effective 2/18/04
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management Oil & Gas Sector Fund Subadvisor changed from Curian effective 2/18/04. Name changed from
JNL/Mellon Capital Mangement Energy Sector Fund on 5/2/05
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management Enhanced S&P 500 Stock Index Subadvisor was Curian between 12/15/03 and 2/18/04 and JPMorgan prior
Fund to 12/15/03
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management Financial Sector Fund Subadvisor changed from Curian effective 2/18/04
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management Global 15 Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management International Index Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management JNL 5 Fund Effective 10/4/04
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management Healthcare Sector Fund Subadvisor changed from Curian effective 2/18/04. Name changed from
JNL/Mellon Capital Mangement Pharmaceutical/Healthcare Sector Fund on
5/2/05
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management S&P 400 MidCap Index Subadvisor was Curian between 12/15/03 and 2/18/04 and Mellon Capital
Fund Management prior to 12/15/03
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management S&P 500 Index Fund Subadvisor was Curian between 12/15/03 and 2/18/04 and Mellon Capital
Management prior to 12/15/03
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/ Mellon Capital Management Select Small-Cap Fund Subadvisor changed from Curian effective 2/18/04
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management Small Cap Index Fund Subadvisor was Curian between 12/15/03 and 2/18/04 and Mellon Capital
Management prior to 12/15/03
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/ Mellon Capital Management Technology Sector Fund Subadvisor changed from Curian effective 2/18/04
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management The Dowsm 10 Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/ Mellon Capital Management The S&P(R) 10 Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management VIP Fund Effective 10/4/2004
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management Nasdaq(R) 15 Fund Effective 10/4/2004
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management Value Line(R) 25 Fund Effective 10/4/2004
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Oppenheimer Global Growth Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Oppenheimer Growth Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/PIMCO Total Return Bond Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Xxxxxx Equity Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Xxxxxx Midcap Growth Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Xxxxxx Value Equity Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/S&P Managed Growth Fund Prior to 10/4/04 named JNL/S&P Moderate Growth Fund I. On 10/4/04
merged with JNL/S&P Core Index 100 Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/S&P Managed Aggressive Growth Fund Prior to 10/4/04 named JNL/S&P Aggressive Growth Fund I. On 10/4/04
merged with JNL/S&P Equity Growth Fund I, JNL/S&P Equity Aggressive
Growth Fund I, JNL/S&P Very Aggressive Growth Fund I, JNL/S&P Core
Index 50 Fund, and JNL/S&P Core Index 75 Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/S&P Managed Conservative Fund Effective 10/4/04
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/S&P Managed Moderate Fund Effective 10/4/04
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/S&P Managed Moderate Growth Fund Prior to 10/4/04 named JNL/S&P Conservative Growth Fund I
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Salomon Brothers High Yield Bond Fund Effective 10/4/04. JNL/PPM America High Yield Bond Fund was merged
into this on 10/4/04
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Salomon Brothers Strategic Bond Fund Formerly JNL/Salomon Brothers Global Bond Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Salomon Brothers U.S. Govt. & Quality Bond Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Select Balanced Fund Prior to 10/4/04 named JNL/PPM America Balanced Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Select Global Growth Fund Formerly JNL/Janus Global Equities Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Select Large Cap Growth Fund Formerly JNL/Janus Aggressive Growth Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Select Money Market Fund Prior to 10/4/04 named JNL/PPM America Money Market Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Select Value Fund Prior to 10/4/04 named PPM JNL/PPM America Value Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/X. Xxxx Price Established Growth Fund JNL/Alliance Capital Growth Fund was merged with this fund 5/2/05.
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/X. Xxxx Price Mid-Cap Growth Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/X. Xxxx Price Value Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
JNL GENERAL ACCOUNT
------------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
Guaranteed Five Year Fixed
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
Guaranteed One Year Fixed
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
Guaranteed Seven Year Fixed
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
Guaranteed Three Year Fixed
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
S&P 500 Composite Stock Price Index - 9 Year Period Only available prior to 10/4/04
----------------------------------------------------------- ------------------------------------------------------------------------
-------------------------
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Perspective II
-------------------------
SCHEDULE B-2 AMENDMENT NO. 4 - NY
SCHEDULE C-2
Limits and Rules of the REINSURER
1) The maximum RETAIL ANNUITY PREMIUM made under any ANNUITY CONTRACT without
REINSURER approval is [REDACTED].
2) The REINSURER's liability cannot be increased as a result of CEDING
COMPANY's actions with respect to contested claims.
3) The REINSURER will not be liable for extracontractual damages (whether they
constitute compensatory damages, statutory penalties, exemplary or punitive
damages) which are awarded against the CEDING COMPANY.
4) The REINSURER's liability to accept new business hereunder could end before
[Redacted]. The REINSURER's liability to accept new business hereunder will
end on the BUSINESS DAY when the cumulative RETAIL ANNUITY PREMIUMS for the
ACTIVE CONTRACTS exceed [REDACTED], unless extended by mutual written
agreement. RETAIL ANNUITY PREMIUMS paid on an ACTIVE CONTRACTS subsequent
to the date on which the REINSURER's liability to accept new business ends
are not included when calculating the limits provided in this Paragraph.
5) A contract where a spousal continuation occurs will be subject to this
Agreement and not characterized as new business as described in paragraph 4
of this section.
SCHEDULE C-2 AMENDMENT NO. 4 - NY
AMENDMENT NO. 5
TO THE
VARIABLE ANNUITY GMIB REINSURANCE AGREEMENT
Between
XXXXXXX NATIONAL LIFE INSURANCE COMPANY OF NEW YORK
("CEDING COMPANY")
Purchase, New York
and
ACE TEMPEST LIFE REINSURANCE LTD.
("REINSURER")
As of January 17, 2006, this Amendment is hereby attached to and becomes a part
of the above-described Reinsurance Agreement. It is mutually agreed that the
Agreement will be amended to reflect the correct name of the ceding company and
to reflect the addition of new funds. To effect these changes, the following
provisions of this Agreement are hereby amended:
* Title page is hereby replaced by the attached title page.
* Article XVI, NOTICES, is hereby replaced by the attached Article XVI.
* Schedule B-2, SUBACCOUNTS SUBJECT TO THE REINSURANCE AGREEMENT,
Amendment No. 4, is hereby replaced by the attached Schedule B-2.
Xxxxxxx National Life Insurance Company ACE Tempest Life Reinsurance Ltd.
of New York
By XXXX X. XXXXX By XXXX XXXXX
------------- ----------
Name XXXX X. XXXXX Name XXXX XXXXX
------------- ----------
Title SVP & CHIEF ACTUARY Title VP AND LIFE ACTUARY
------------------- -------------------
Date 1/19/06 Date JAN. 17, 2006
------- -------------
VARIABLE ANNUITY GMIB REINSURANCE AGREEMENT
This Agreement is effective January 1, 2003
Between
XXXXXXX NATIONAL LIFE INSURANCE COMPANY OF NEW YORK
(Hereinafter called the "CEDING COMPANY")
Purchase, New York
and
ACE TEMPEST LIFE REINSURANCE LTD.
(Hereinafter called the "REINSURER")
Hamilton, Bermuda
AMENDMENT NO. 5 - NY
ARTICLE XVI - NOTICES
A. All notices required to be given hereunder shall be in writing and shall be
deemed delivered if personally delivered, sent via reputable overnight
carrier, sent via facsimile with evidence of successful transmission, or
dispatched by certified or registered mail, return receipt requested,
postage prepaid, addressed to the parties as follows:
Xxxx X. Xxxxx, FSA
Senior Vice President and Chief Actuary
Xxxxxxx National Life Insurance Company of New York
0000 Xxxxxxxxxxx Xxxxxx
Xxxxxxxx, Xxx Xxxx 00000
Phone: (000) 000-0000 Fax: (000) 000-0000
Chief Financial Officer
ACE Tempest Life Reinsurance Ltd.
Xxx XXX Xxxxxxxx, 00 Xxxxxxxxxx Xxxxxx
Xxxxxxxx, XX 00 Xxxxxxx
Xxxxx: (000) 000-0000 Fax: (000) 000-0000
B. Notice shall be deemed given on the date it is received in accordance with
the foregoing. Any party may change the person and/or the address to which
notices are to be sent by notifying the other party of such change of
address in writing in accordance with the foregoing.
ARTICLE XVI AMENDMENT NO. 5 - NY
SCHEDULE B-2
Subaccounts Subject to this Reinsurance Agreement
----------------------------------------------------------- ------------------------------------------------------------------------
FUND NAME COMMENT
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/AIM Large Cap Growth Fund 2/18/2004 merged with JNL/AIM Premier Equity II Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/AIM Real Estate Fund New 5/2/05
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/AIM Small Cap Growth Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Xxxxx Growth Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Eagle Core Equity Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Eagle SmallCap Equity Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/FMR Balanced Fund Subadvisor changed from Janus on 2/18/04
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/FMR Capital Growth Fund Subadvisor changed from Janus on 2/18/04
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Franklin Xxxxxxxxx Small Cap Value Fund New 5/2/05
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Xxxxxxx Sachs Mid Cap Value Fund New 5/2/05
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/JPM International Equity Fund Named changed from JNL/Xxxxxx International Equity Fund on 5/2/05
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/JPMorgan International Value Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Lazard Mid Cap Value Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Lazard Small Cap Value Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/ Mellon Capital Management 25 Fund Subadvisor changed from Curian effective 2/18/04
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management Bond Index Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/ Mellon Capital Management Communications Sector Fund Subadvisor changed from Curian effective 2/18/04
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/ Mellon Capital Management Consumer Brands Sector Fund Subadvisor changed from Curian effective 2/18/04
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/ Mellon Capital Management Oil & Gas Sector Fund Subadvisor changed from Curian effective 2/18/04. Name changed from
JNL/Mellon Capital Mangement Energy Sector Fund on 5/2/05
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management Enhanced S&P 500 Stock Index Subadvisor was Curian between 12/15/03 and 2/18/04 and JPMorgan prior
Fund to 12/15/03
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/ Mellon Capital Management Financial Sector Fund Subadvisor changed from Curian effective 2/18/04
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/ Mellon Capital Management Global 15 Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management International Index Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/ Mellon Capital Management JNL 5 Fund Effective 10/4/04
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/ Mellon Capital Management Healthcare Sector Fund Subadvisor changed from Curian effective 2/18/04. Name changed from
JNL/Mellon Capital Mangement Pharmaceutical/Healthcare Sector Fund on
5/2/05
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management S&P 400 MidCap Index Fund Subadvisor was Curian between 12/15/03 and 2/18/04 and Mellon Capital
Management prior to 12/15/03
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management S&P 500 Index Fund Subadvisor was Curian between 12/15/03 and 2/18/04 and Mellon Capital
Management prior to 12/15/03
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/ Mellon Capital Management Select Small-Cap Fund Subadvisor changed from Curian effective 2/18/04
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management Small Cap Index Fund Subadvisor was Curian between 12/15/03 and 2/18/04 and Mellon Capital
Management prior to 12/15/03
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/ Mellon Capital Management Technology Sector Fund Subadvisor changed from Curian effective 2/18/04
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management Xxx XX Dividend New fund effective 1/17/2006
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/ Mellon Capital Management Dowsm 10 Fund Name changed effective 1/17/2006
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/ Mellon Capital Management S&P(R) 10 Fund Name changed effective 1/17/2006
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/ Mellon Capital Management VIP Fund Effective 10/4/2004
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/ Mellon Capital Management Nasdaq(R) 15 Fund Effective 10/4/2004
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/ Mellon Capital Management Value Line(R) 25 Fund Effective 10/4/2004
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Xxxxxxxxxxx Global Growth Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Xxxxxxxxxxx Growth Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/PIMCO Total Return Bond Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Xxxxxx Equity Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Xxxxxx Midcap Growth Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Xxxxxx Value Equity Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/S&P Managed Growth Fund Prior to 10/4/04 named JNL/S&P Moderate Growth Fund I. On 10/4/04
merged with JNL/S&P Core Index 100 Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/S&P Managed Aggressive Growth Fund Prior to 10/4/04 named JNL/S&P Aggressive Growth Fund I. On 10/4/04
merged with JNL/S&P Equity Growth Fund I, JNL/S&P Equity Aggressive
Growth Fund I, JNL/S&P Very Aggressive Growth Fund I, JNL/S&P Core
Index 50 Fund, and JNL/S&P Core Index 75 Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/S&P Managed Conservative Fund Effective 10/4/04
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/S&P Managed Moderate Fund Effective 10/4/04
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/S&P Managed Moderate Growth Fund Prior to 10/4/04 named JNL/S&P Conservative Growth Fund I
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/S&P Retirement Income New fund effective 1/17/2006
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/S&P Retirement 2015 New fund effective 1/17/2006
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/S&P Retirement 2020 New fund effective 1/17/2006
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/S&P Retirement 2025 New fund effective 1/17/2006
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Salomon Brothers High Yield Bond Fund Effective 10/4/04. JNL/PPM America High Yield Bond Fund was merged
into this on 10/4/04
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Salomon Brothers Strategic Bond Fund Formerly JNL/Salomon Brothers Global Bond Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Salomon Brothers U.S. Govt. & Quality Bond Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Select Balanced Fund Prior to 10/4/04 named JNL/PPM America Balanced Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Select Global Growth Fund Formerly JNL/Janus Global Equities Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Select Large Cap Growth Fund Formerly JNL/Janus Aggressive Growth Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Select Money Market Fund Prior to 10/4/04 named JNL/PPM America Money Market Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Select Value Fund Prior to 10/4/04 named PPM JNL/PPM America Value Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/X. Xxxx Price Established Growth Fund JNL/Alliance Capital Growth Fund was merged with this fund 5/2/05.
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/X. Xxxx Price Mid-Cap Growth Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/X. Xxxx Price Value Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
JNL GENERAL ACCOUNT
------------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
Guaranteed Five Year Fixed
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
Guaranteed One Year Fixed
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
Guaranteed Seven Year Fixed
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
Guaranteed Three Year Fixed
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
S&P 500 Composite Stock Price Index - 9 Year Period Only available prior to 10/4/04
----------------------------------------------------------- ------------------------------------------------------------------------
-------------------------
PRODUCT AVAILABILITY
-------------------------
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Perspective II
-------------------------
SCHEDULE B-2 AMENDMENT NO. 5 - NY
AMENDMENT NO. 6
TO THE
VARIABLE ANNUITY GMIB REINSURANCE AGREEMENT
EFFECTIVE JANUARY 1, 2003
Between
XXXXXXX NATIONAL LIFE INSURANCE COMPANY OF NEW YORK
("CEDING COMPANY")
Purchase, New York
and
ACE TEMPEST LIFE REINSURANCE LTD.
("REINSURER")
As of May 1, 2006, this Amendment is hereby attached to and becomes a part of
the above-described Reinsurance Agreement. It is mutually agreed that the
Agreement will be amended to the withdrawal of one optional benefit for
contracts issued after 4/30/2006, the addition of five new investment funds, and
updated fund names. To effect these changes, the following provisions of this
Agreement are hereby amended:
* Schedule B-1, CONTRACTS SUBJECT TO THIS REINSURANCE AGREEMENT,
Amendment #3, is hereby replaced by the attached Schedule B-1.
* Schedule B-2, SUBACCOUNTS SUBJECT TO THE REINSURANCE AGREEMENT,
Amendment #5, is hereby replaced by the attached Schedule B-2.
Xxxxxxx National Life Insurance Company ACE Tempest Life Reinsurance Ltd.
of New York
By XXXX X. XXXXX By XXXX XXXXX
------------- ----------
Name Xxxx X. Xxxxx Name Xxxx Xxxxx
------------- ----------
Title SVP & CHIEF ACTUARY Title VP AND LIFE ACTUARY
------------------- -------------------
Date APRIL 28, 2006 Date APR. 19, 2006
-------------- -------------
SCHEDULE B-1
ANNUITY CONTRACTS Subject to this Reinsurance Agreement
PERSPECTIVE II
o VA202-1 is an individual flexible Premium variable and fixed annuity.
VA202-1 9/03 replaced VA202-1, effective 9/22/2003.
VA250NY replaced VA202-1 9/03.
VA250NY 05/04 replaced VA250NY effective 5/3/2004.
VA220NY replaced VA250NY 05/04 effective 10/4/2004.
o This product has two Contract options:
o Separate Account Investment Division option; and
o Fixed Account Option.
A) SEPARATE ACCOUNT INVESTMENT DIVISION OPTION
o This option allows the Owner to allocate Premiums and earnings to one
or more Investment Divisions of the Separate Account.
o JNLNY Separate Account I is used for this Contract.
o The Separate Account invests in shares of one of the corresponding
Funds of the underlying fund of the JNL Series Trust, JNL Variable
Fund LLC, and JNLNY Variable Fund I LLC (see Schedule B-2).
B) OPTIONAL BENEFITS
FORM NUMBER POLICY DESCRIPTION
7340NY Death Benefit Option (Highest Anniversary Value)
7349NY Additional Free Withdrawal 20% of Premium
7349NY 04/03 Additional Free Withdrawal 20% of Premium
7343NY Shortened W/D Charge Period (5 year)
7343NY 04/03 Shortened W/D Charge Period (5 year)
7429NY Shortened W/D Charge Period (3 year) - not available for contracts issued after 4/30/2006
7346NY 05/04 Premium Credit (4%)
7348NY Premium Credit (2%)
7348NY 08/03 Premium Credit (2%)
7352NY Premium Credit (3%)
7352NY 08/03 Premium Credit (3%)
7344NY 03/03 Guaranteed Minimum Income Benefit (6% Roll-up)
7365NY 03/03 Guaranteed Minimum Income Benefit (6% Roll-up)
7452NY Guaranteed Minimum Income Benefit (5% Roll-up) - Effective 5/3/2004
7470NY Death Benefit Option (Highest Anniversary Value)
PERSPECTIVE FOCUS (Available prior to 10/24/2003)
o VA260NY is an individual flexible Premium variable and fixed annuity
o This product has two Contract options:
o Separate Account Investment Division option; and
o Fixed Account Option
A) SEPARATE ACCOUNT INVESTMENT DIVISION OPTION
This option allows the Owner to allocate Premiums and earnings to one
or more Investment Divisions of the Separate Account.
JNLNY Separate Account I is used for this Contract.
The Separate Account invests in shares of one of the corresponding
Funds of the underlying fund of the JNL Series Trust and JNL Variable
Fund LLC, (see Schedule B-2).
B) OPTIONAL BENEFITS
FORM NUMBER POLICY DESCRIPTION
7362NY Death Benefit Option (MAV)
7364NY Premium Credit (2%)
7365NY Guaranteed Minimum Income Benefit (6% Roll-up)
7381NY Reduced Administration Charge Endorsement
JNL NY ACE 2003 TREATY SCHEDULE B-1 AMENDMENT # 6
SCHEDULE B-2
Subaccounts Subject to this Reinsurance Agreement
----------------------------------------------------------- ------------------------------------------------------------------------
FUND NAME COMMENT
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/AIM Large Cap Growth Fund 2/18/2004 merged with JNL/AIM Premier Equity II Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/AIM Real Estate Fund New 5/2/05
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/AIM Small Cap Growth Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Xxxxx Growth Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Eagle Core Equity Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Eagle SmallCap Equity Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/FMR Balanced Fund Subadvisor changed from Janus on 2/18/04
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/FMR Mid-Cap Equity Fund Subadvisor changed from Janus on 2/18/04. Name changed from JNL/FMR
Capital Growth Fund effective 5/1/2006
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Franklin Xxxxxxxxx Small Cap Value Fund New 5/2/05
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Xxxxxxx Sachs Mid Cap Value Fund New 5/2/05
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/JPM International Equity Fund Named changed from JNL/Xxxxxx International Equity Fund on 5/2/05
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/JPMorgan International Value Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Lazard Mid Cap Value Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Lazard Small Cap Value Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/ Mellon Capital Management 25 Fund Subadvisor changed from Curian effective 2/18/04. Effective 5/1/2006,
the JNY version was merged into the JNL version.
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management Bond Index Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/ Mellon Capital Management Communications Sector Fund Subadvisor changed from Curian effective 2/18/04
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/ Mellon Capital Management Consumer Brands Sector Fund Subadvisor changed from Curian effective 2/18/04
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/ Mellon Capital Management Oil & Gas Sector Fund Subadvisor changed from Curian effective 2/18/04. Name changed from
JNL/Mellon Capital Mangement Energy Sector Fund on 5/2/05
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management Enhanced S&P 500 Stock Index Subadvisor was Curian between 12/15/03 and 2/18/04 and JPMorgan prior
Fund to 12/15/03
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/ Mellon Capital Management Financial Sector Fund Subadvisor changed from Curian effective 2/18/04
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/ Mellon Capital Management Global 15 Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management International Index Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/ Mellon Capital Management JNL 5 Fund Effective 10/4/04
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/ Mellon Capital Management Healthcare Sector Fund Subadvisor changed from Curian effective 2/18/04. Name changed from
JNL/Mellon Capital Mangement Pharmaceutical/Healthcare Sector Fund on
5/2/05
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management S&P 400 MidCap Index Fund Subadvisor was Curian between 12/15/03 and 2/18/04 and Mellon Capital
Management prior to 12/15/03
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management S&P 500 Index Fund Subadvisor was Curian between 12/15/03 and 2/18/04 and Mellon Capital
Management prior to 12/15/03
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management Select Small-Cap Fund Subadvisor changed from Curian effective 2/18/04. Effective 5/1/2006,
the JNY version was merged into the JNL version.
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management Small Cap Index Fund Subadvisor was Curian between 12/15/03 and 2/18/04 and Mellon Capital
Management prior to 12/15/03
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/ Mellon Capital Management Technology Sector Fund Subadvisor changed from Curian effective 2/18/04
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management Xxx XX Dividend New fund effective 1/17/2006
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/ Mellon Capital Management Dowsm 10 Fund Name changed effective 1/17/2006
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/ Mellon Capital Management S&P(R) 10 Fund Name changed effective 1/17/2006
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/ Mellon Capital Management VIP Fund Effective 10/4/2004
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/ Mellon Capital Management Nasdaq(R) 15 Fund Effective 10/4/2004
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/ Mellon Capital Management Value Line(R) 25 Fund Effective 10/4/2004
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Xxxxxxxxxxx Global Growth Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Xxxxxxxxxxx Growth Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/PIMCO Total Return Bond Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Xxxxxx Equity Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Xxxxxx Midcap Growth Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Xxxxxx Value Equity Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/S&P Managed Growth Fund Prior to 10/4/04 named JNL/S&P Moderate Growth Fund I. On 10/4/04
merged with JNL/S&P Core Index 100 Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/S&P Managed Aggressive Growth Fund Prior to 10/4/04 named JNL/S&P Aggressive Growth Fund I. On 10/4/04
merged with JNL/S&P Equity Growth Fund I, JNL/S&P Equity Aggressive
Growth Fund I, JNL/S&P Very Aggressive Growth Fund I, JNL/S&P Core
Index 50 Fund, and JNL/S&P Core Index 75 Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/S&P Managed Conservative Fund Effective 10/4/04
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/S&P Managed Moderate Fund Effective 10/4/04
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/S&P Managed Moderate Growth Fund Prior to 10/4/04 named JNL/S&P Conservative Growth Fund I
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/S&P Retirement Income New fund effective 1/17/2006
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/S&P Retirement 2015 New fund effective 1/17/2006
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/S&P Retirement 2020 New fund effective 1/17/2006
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/S&P Retirement 2025 New fund effective 1/17/2006
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Western High Yield Bond Fund Effective 10/4/04. JNL/PPM America High Yield Bond Fund was merged
into this on 10/4/04. Name changed from JNL/Salomon Brothers High
Yield Bond Fund effective 5/1/2006
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Western Strategic Bond Fund Formerly JNL/Salomon Brothers Global Bond Fund. Name changed from
JNL/Salomon Brothers Strategic Bond Fund effective 5/1/2006
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Western U.S. Govt. & Quality Bond Fund Name changed from JNL/Salomon Brothers U.S. Govt. & Quality Bond Fund
effective 5/1/2006
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Select Balanced Fund Prior to 10/4/04 named JNL/PPM America Balanced Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Select Global Growth Fund Formerly JNL/Janus Global Equities Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Select Large Cap Growth Fund Formerly JNL/Janus Aggressive Growth Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Select Money Market Fund Prior to 10/4/04 named JNL/PPM America Money Market Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Select Value Fund Prior to 10/4/04 named PPM JNL/PPM America Value Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/X. Xxxx Price Established Growth Fund JNL/Alliance Capital Growth Fund was merged with this fund 5/2/05.
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/X. Xxxx Price Mid-Cap Growth Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/X. Xxxx Price Value Fund
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Franklin Xxxxxxxxx Income Fund New fund effective 5/1/2006
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Xxxxxxx Sachs Short Duration Bond Fund New fund effective 5/1/2006
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Lazard Emerging Markets Fund New fund effective 5/1/2006
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management S&P (R) 24 Fund New fund effective 5/1/2006
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
JNL/Mellon Capital Management JNL Optimized 5 Fund New fund effective 5/1/2006
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
JNL GENERAL ACCOUNT
------------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
Guaranteed Five Year Fixed
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
Guaranteed One Year Fixed
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
Guaranteed Seven Year Fixed
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
Guaranteed Three Year Fixed
----------------------------------------------------------- ------------------------------------------------------------------------
----------------------------------------------------------- ------------------------------------------------------------------------
S&P 500 Composite Stock Price Index - 9 Year Period Only available prior to 10/4/04
----------------------------------------------------------- ------------------------------------------------------------------------
-------------------------
PRODUCT AVAILABILITY
-------------------------
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All but Focus
-------------------------
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All but Focus
-------------------------
-------------------------
Perspective II
-------------------------
JNL NY ACE 2003 TREATY SCHEDULE B-2 AMENDMENT # 6
