AMENDMENT
NO. 1
This Amendment, effective May 1, 2000, made by and between CUNA Mutual Life
Insurance Company, (Reinsured referred to as you, your), and Transamerica
Occidental Life Insurance Company, (Reinsurer referred to as we, us, our), is
attached to and becomes a part of the Automatic Reinsurance Agreement (No.
1058-08), dated May 1, 2000.
1.
The following Section 11.01 of Article 11, Reductions, Terminations and
Changes is hereby revised as follows:
11.01 Replacement or Change. If there is a contractual or
non-contractual replacement or change in a particular policy reinsured
under this Agreement, including, but not limited to, conversions or
exchanges where full underwriting evidence according to the Ceding
Company's regular underwriting rules is not required or plans of
internal replacement where full underwriting evidence is required, the
exchanged or converted policy shall continue to be reinsured by the
Reinsurer under this Agreement unless the Ceding Company elects the
provisions in 11.02 for non-contractual changes or replacements. Future
premiums shall be calculated on a point-in-scale basis using the
applicable rates in the Agreement.
2.
Schedule A is replaced by the attached Schedule A.
This Amendment does not alter, amend or modify the Reinsurance Agreement other
than as set forth in this Amendment, and it is subject otherwise to all the
terms and conditions of the Reinsurance Agreement together with all amendments
and supplements thereto.
Executed in duplicate by Executed in duplicate by
CUNA MUTUAL LIFE INSURANCE TRANSAMERICA OCCIDENTAL
INSURANCE COMPANY LIFE INSURANCE COMPANY
at Waverly, Iowa, at Charlotte, North Carolina,
on March 18, 2003. on February 20, 2003
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By: /s/ Xxxx X. Xxxxx By: /s/ Signature
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Title Vice President Title Vice President
By: /s/ Xxxxxxx X. Xxxxx By: /s/ Xxxxxx X. Xxxxxxxx
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Title Assistant Secretary, AVP Title Second Vice President
SCHEDULE A
SPECIFICATIONS
1. Type of Business Individual life insurance issued directly
by Ceding Company
2. Plans of Insurance MEMBERS Xxxxx 00 - $100,000 or greater
MEMBERS Xxxxx 00 - $100,000 or greater
Other Insured Rider - $100,000 or greater
3. Basis of Reinsurance
Reinsurer's Share Quota Share 40%
Ceding Company's Share Quota Share 20%
4. Maximum Issue Age 80
5. Maximum Mortality Each individual risk must not exceed
Table 16, Table P, 500% or its equivalent
on a flat extra premium basis.
6. Minimum Amounts
Initial - Automatic $ 40,000
Initial - Facultative $100,000
Subsequent Not applicable
The automatic initial minimum does not apply to converted policies.
7. Years to Recapture 10 for MEMBERS Xxxxx 00
00 for MEMBERS Xxxxx 00
