Exhibit (g)(6)
AMENDMENT TO AUTOMATIC YRT AGREEMENT
("AMENDMENT")
Reference is made to the Automatic YRT Reinsurance Agreement, dated effective
November 25, 2002 and identified as Treaty Number 3007 (herein the
"Agreement"), by and between IDS Life Insurance Company and [name of
reinsurance company]. The undersigned parties hereby agree that the Agreement
shall be and is hereby amended as follows:
1. With respect to any insurance policy identified in Exhibit B of
the Agreement issued by Ceding Company on or after January 1,
2005 or any covered rider on such policy (herein a "New Policy"),
Reinsurer's Percentage Share, as described in Exhibit B, Section
B.2, is increased from [percentage] to [percentage] of the
Reinsured Net Amount at Risk. With respect to any New Policy, the
[percentage] component of Reinsurer's Percentage Share shall be
referred to as "Base Share" and the additional [percentage]
component shall be referred to as "Incremental Share". For
purposes of this Amendment, a New Policy shall be deemed to
include any insurance policy identified in Exhibit B of the
Agreement that either (i) has an issue date or is applied for on
or after January 1, 2005, or (ii) goes into effect on or after
January 1, 2005 even if backdated to reflect an issue date prior
to January 1, 2005, including any covered rider on such policy.
Any policy issued by the Ceding Company and originally covered by
the Agreement prior to January 1, 2005 is considered an "Existing
Policy", including any covered rider on such policy whether
issued before or after January 1, 2005. Existing Policy also
includes any conditional receipt or temporary insurance provision
if the policy is applied for prior to January 1, 2005 until such
time as the policy is issued or declined, but only to the extent
coverage for such risk is provided for under the terms of the
Agreement.
2. With respect to Incremental Share on any New Policy ceded on an
automatic basis, reinsurance premium rates shall equal the Ceding
Company's original annual Band 4 COI premiums rates for the
VUL-III plan, as shown in Schedule D-1 attached to the Agreement,
less the following allowances:
------------------------------------------------------------------------------
UNDERWRITING CLASS (MALE) YEARS 1-10 YEARS 11+
------------------------------------------------------------------------------
Preferred Non-Smoker [percentage] [percentage]
------------------------------------------------------------------------------
Standard Non-Smoker [percentage] [percentage]
------------------------------------------------------------------------------
Smoker [percentage] [percentage]
------------------------------------------------------------------------------
------------------------------------------------------------------------------
UNDERWRITING CLASS (FEMALE) YEARS 1-10 YEARS 11+
--------------------------------------------------------------------------------
Preferred Non-Smoker [percentage] [percentage]
------------------------------------------------------------------------------
Standard Non-Smoker [percentage] [percentage]
------------------------------------------------------------------------------
Smoker [percentage] [percentage]
------------------------------------------------------------------------------
Reinsurance premiums are payable until age 100 and Reinsurer is
not liable for any claims occurring after age 100. Reinsurance
premium rates and allowances for the Base Share on any New Policy
shall remain as stated in Exhibit D of the Agreement. Reinsurance
premiums rates and allowances for Existing Policies and
facultative cessions (whether for a New Policy or Existing
Policy) shall also remain as stated in Exhibit D of the
Agreement.
3. Any change, reinstatement, increase, replacement, or conversion
of an Existing Policy following January 1, 2005 shall be treated
and covered in the manner provided for in the Agreement without
regard to the changes in Reinsurer's Percentage Share and
allowances as specified in this Amendment.
4. Effective January 1, 2005, the schedule displayed in Section 9.4
of the Agreement is amended as follows:
Claimant Last Name Lead Reinsurer
------------------ --------------
A - F [name of reinsurance company]
G - M [name of reinsurance company]
N - S [name of reinsurance company]
T - Z [name of reinsurance company]
5. Exhibit B, Section B.7, relating to International Risks shall be
deleted in its entirety and replaced with the following:
"International Clients are defined and will be underwritten as
described in the Ceding Company's "Guidelines for Underwriting
International Clients", a copy of which has been provided to the
Reinsurer. The Ceding Company will promptly notify the Reinsurer
of any proposed material changes in its international client
guidelines. This Agreement will not extend to policies issued
pursuant to such changes unless the Reinsurer has consented to
accept policies subject to such changes."
Capitalized terms not otherwise defined herein have the meaning ascribed to
them as in the Agreement. Except as expressly amended above, all other terms
of the Agreement, together with all exhibits and attachments thereto, remain
in full force and effect. This Amendment is effective immediately upon
execution by both of the undersigned parties. This Amendment is made in
duplicate and executed below by authorized representatives of both parties.
IDS LIFE INSURANCE COMPANY [NAME OF REINSURANCE COMPANY]
By: /s/ Xxxxxxx X. Xxxxxxxx By: [signature]
------------------------------ ---------------------------
(signature) (signature)
Xxxxxxx X. Xxxxxxxx [name]
(print or type name) (print or type name)
Title: V P - Insurance Title: [title]
Date: 12/29/04 Date: Dec 28, 2004
Attest: /s/ Xxxxxxx X. Xxxxxxxx Attest: [signature]
------------------------------ ---------------------------
(signature) (signature)
Title: Appointed Actuary Title: [title]