AMENDMENT
to the Risk Premium Reinsurance Agreement (the "Agreement")
effective September 1, 1983, between
CENTURY LIFE OF AMERICA of Waverly, Iowa,
hereinafter referred to as the "REINSURED,"
and
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY of Fort Xxxxx, Indiana,
hereinafter referred to as the "LINCOLN."
1. For reinsurance ceded automatically on and after the first day of
October, 1992, under the Agreement, the sum of the amount of insurance already
in force on the life and the amount applied for currently, in all companies,
shall not exceed the following amounts.
Ages Life Insurance Waiver of Premium Accidental Death
---- -------------- ----------------- ----------------
0-65 $3,000,000 $2,000,000 $200,000
66-70 3,000,000 None None
71-80 300,000 None None
2. On and after the first day of October, 1992, the retention limit of
the REINSURED shall be that shown in the revised Schedule A, attached hereto.
This retention shall apply to reinsurance ceded after the effective date hereof.
3. On and after the first day of October, 1992, the REINSURED may cede
and the LINCOLN shall accept automatically amounts of reinsurance not to exceed
those described in the Schedule B, attached hereto.
4. The provisions of this amendment shall be subject to all the terms and
conditions of the Agreement which do not conflict with the terms hereof.
IN WITNESS WHEREOF the parties hereto have caused this amendment to be
executed in duplicate on the dates shown below.
CENTURY LIFE OF AMERICA
Signed at /s/ Waverly, IA
--------------------
By /s/ Xxxxxx X. Xxxxxxxxxx By /s/ Xxxxxxx X. Xxxxxx
------------------------ ------------------------
Title VP VAL Actuary Title Secretary
---------------------- ----------------------
Date 12/1/92 Date 12/3/92
---------------------- ----------------------
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY
Signed at Fort Xxxxx, Indiana
By /s/ Xxxx Xxxxxx By /s/ Signature
------------------------ ------------------------
Date 12/10/92 Date 12/15/92
---------------------- ----------------------
SCHEDULE A
(Effective October 1, 1992)
Retention Limits of the REINSURED
Life*
----
Ages Standard Tables A-P
---- -------- ----------
0-60 $500,000 $500,000
61-70 500,000 300,000
71-80 50,000 50,000
*The above amounts shall be exceeded by as much as $15,000 to avoid
reinsurance.
Waiver of Premium Disability
----------------------------
$1,000,000 of Total Life In Force
Accidental Death
----------------
$150,000
SCHEDULE B
(Effective October 1, 1992)
Maximum Amounts which the REINSURED may cede Automatically
Life
----
Ages Standard-Table P Over Table P
---- ---------------- ------------
0-70 $2,000,000 None
71-80 200,000 None
Over 80 None None
Waiver of Premium Disability
----------------------------
The REINSURED may cede automatically Waiver of Premium Disability reinsurance in
amounts applicable to the amount of Life reinsurance ceded automatically not to
exceed the following:
Ages Standard-Table F Over Table F
---- ---------------- ------------
0-44 $2,000,000 None
44-65 1,000,000 None
Over 65 None None
Accidental Death Benefits
-------------------------
Ages Standard-Table F Over Table F
---- ---------------- ------------
0-65 $100,000 None
Over 65 None None
