AMENDMENT
EFFECTIVE FEBRUARY 25, 2013
to the
AUTOMATIC AND FACULTATIVE YRT AGREEMENT
EFFECTIVE JANUARY 1, 2012
between
THE METROPOLITAN LIFE INSURANCE COMPANIES
WHICH SHALL INCLUDE THE FOLLOWING COMPANIES:
METROPOLITAN LIFE INSURANCE COMPANY, A NEW YORK INSURANCE COMPANY,
NEW ENGLAND LIFE INSURANCE COMPANY, A MASSACHUSETTS INSURANCE COMPANY,
GENERAL AMERICAN LIFE INSURANCE COMPANY, A MISSOURI INSURANCE COMPANY,
METLIFE INVESTORS USA INSURANCE COMPANY, A DELAWARE INSURANCE COMPANY,
METLIFE INVESTORS INSURANCE COMPANY, A MISSOURI INSURANCE COMPANY,
FIRST METLIFE INVESTORS INSURANCE COMPANY, A NEW YORK INSURANCE COMPANY,
METROPOLITAN TOWER LIFE INSURANCE COMPANY, A DELAWARE INSURANCE COMPANY, AND
METLIFE INSURANCE COMPANY OF CONNECTICUT, A CONNECTICUT INSURANCE COMPANY.
(HEREINAFTER INDIVIDUALLY OR COLLECTIVELY REFERRED TO AS "THE CEDING COMPANY" OR
"COMPANIES")
AND
GENERALI USA LIFE REASSURANCE COMPANY, A MISSOURI REINSURANCE COMPANY
(HEREINAFTER REFERRED TO AS "THE REINSURER")
This Agreement originally executed effective January 1, 2012, as amended, is
hereby amended, effective FEBRUARY 25, 2013 for all eligible policies issued on
or after the effective date of this amendment, including policies backdated for
up to six (6) months to save age.
WHEREAS, GLT is a covered product under the Agreement and included in the list
of products covered in Exhibit III to the Agreement;
WHEREAS, GLT is being repriced in February 2013; and
WHEREAS, the parties wish to document their mutual understanding that,
effective as of the effective date hereof, the Agreement shall cover GLT as so
repriced;
NOW THEREFORE, in consideration of the mutual and foregoing recitals and the
mutual covenants and undertakings herein contained, and for other good and
valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties agree as follows.
1. The February 2013 reprice of GLT is now added as a covered product;
however, given that the name/plan identifiers for the February 2013 reprice
of GLT are not changing from the current GLT product, no updates are needed
to Exhibit III.
All terms, provisions, and conditions of this Agreement will continue unchanged
except as specifically revised in this Amendment.
Page 1 of 4
THE METROPOLITAN LIFE INSURANCE COMPANIES
WHICH SHALL INCLUDE THE FOLLOWING COMPANIES:
METROPOLITAN LIFE INSURANCE COMPANY, A NEW YORK INSURANCE COMPANY,
NEW ENGLAND LIFE INSURANCE COMPANY, A MASSACHUSETTS INSURANCE COMPANY,
GENERAL AMERICAN LIFE INSURANCE COMPANY, A MISSOURI INSURANCE COMPANY,
METLIFE INVESTORS USA INSURANCE COMPANY, A DELAWARE INSURANCE COMPANY,
METLIFE INVESTORS INSURANCE COMPANY, A MISSOURI INSURANCE COMPANY,
FIRST METLIFE INVESTORS INSURANCE COMPANY, A NEW YORK INSURANCE COMPANY,
METROPOLITAN TOWER LIFE INSURANCE COMPANY, A DELAWARE INSURANCE COMPANY, AND
METLIFE INSURANCE COMPANY OF CONNECTICUT, A CONNECTICUT INSURANCE COMPANY.
("THE CEDING COMPANY" OR "COMPANIES")
and
GENERALI USA LIFE REASSURANCE COMPANY, A MISSOURI REINSURANCE COMPANY
("THE REINSURER")
have by their respective officers executed and delivered this Amendment,
effective FEBRUARY 25, 2013.
METROPOLITAN LIFE INSURANCE COMPANY
By: /s/ Xxxxxxx Xxxxx
----------------------------------
Name: Xxxxxxx Xxxxx
----------------------------------
Title: Senior Vice President
----------------------------------
NEW ENGLAND LIFE INSURANCE COMPANY
By: /s/ Xxxxxxx Xxxxx
----------------------------------
Name: Xxxxxxx Xxxxx
----------------------------------
Title: Vice President
----------------------------------
Page 2 of 4
GENERAL AMERICAN LIFE INSURANCE COMPANY
By: /s/ Xxxxxxx Xxxxx
----------------------------------
Name: Xxxxxxx Xxxxx
----------------------------------
Title: Vice President
----------------------------------
METLIFE INVESTORS USA INSURANCE COMPANY
By: /s/ Xxxxxxx Xxxxx
----------------------------------
Name: Xxxxxxx Xxxxx
----------------------------------
Title: Vice President
----------------------------------
METLIFE INVESTORS INSURANCE COMPANY
By: /s/ Xxxxxxx Xxxxx
----------------------------------
Name: Xxxxxxx Xxxxx
----------------------------------
Title: Vice President
----------------------------------
FIRST METLIFE INVESTORS INSURANCE COMPANY
By: /s/ Xxxxxxx Xxxxx
----------------------------------
Name: Xxxxxxx Xxxxx
----------------------------------
Title: Vice President
----------------------------------
METROPOLITAN TOWER LIFE INSURANCE COMPANY
By: /s/ Xxxxxxx Xxxxx
----------------------------------
Name: Xxxxxxx Xxxxx
----------------------------------
Title: Vice President
----------------------------------
Page 3 of 4
METLIFE INSURANCE COMPANY OF CONNECTICUT
By: /s/ Xxxxxxx Xxxxx
-------------------------------
Name: Xxxxxxx Xxxxx
-------------------------------
Title: Vice President
-------------------------------
GENERALI USA LIFE REASSURANCE COMPANY
By: /s/ Xxxxx Xxxx By: /s/ Xxxxx X. Xxxxx
------------------------------- ------------------------------
Name: Xxxxx Xxxx Name: Xxxxx X. Xxxxx
------------------------------- ------------------------------
Title: Asst Registrar Title: Senior Vice President
------------------------------- ------------------------------
Page 4 of 4
AMENDMENT
EFFECTIVE APRIL 29, 2013
to the
AUTOMATIC AND FACULTATIVE YRT AGREEMENT
EFFECTIVE JANUARY 1, 2012
between
THE METROPOLITAN LIFE INSURANCE COMPANIES
WHICH SHALL INCLUDE THE FOLLOWING COMPANIES:
METROPOLITAN LIFE INSURANCE COMPANY, A NEW YORK INSURANCE COMPANY,
NEW ENGLAND LIFE INSURANCE COMPANY, A MASSACHUSETTS INSURANCE COMPANY,
GENERAL AMERICAN LIFE INSURANCE COMPANY, A MISSOURI INSURANCE COMPANY,
METLIFE INVESTORS USA INSURANCE COMPANY, A DELAWARE INSURANCE COMPANY,
METLIFE INVESTORS INSURANCE COMPANY, A MISSOURI INSURANCE COMPANY,
FIRST METLIFE INVESTORS INSURANCE COMPANY, A NEW YORK INSURANCE COMPANY,
METROPOLITAN TOWER LIFE INSURANCE COMPANY, A DELAWARE INSURANCE COMPANY, AND
METLIFE INSURANCE COMPANY OF CONNECTICUT, A CONNECTICUT INSURANCE COMPANY.
(HEREINAFTER INDIVIDUALLY OR COLLECTIVELY REFERRED TO AS "THE CEDING COMPANY" OR
"COMPANIES")
AND
GENERALI USA LIFE REASSURANCE COMPANY, A MISSOURI REINSURANCE COMPANY
(HEREINAFTER REFERRED TO AS "THE REINSURER")
This Agreement originally executed effective January 1, 2012, as amended, is
hereby amended, effective APRIL 29, 2013 for all eligible policies issued on or
after the effective date of this amendment, including policies backdated for up
to six (6) months to save age.
NOW THEREFORE, in consideration of the mutual and foregoing recitals and the
mutual covenants and undertakings herein contained, and for other good and
valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties agree as follows.
1. Exhibit III is hereby replaced by the attached Exhibit III - Four additional
products are added (OYT w/ Convertible and Renewable Options rider, LP10,
LP20, and LP65).
2. Exhibit IV, Table A is hereby replaced by the attached Exhibit IV, Table
A--6 class One Year Term rates are added.
All terms, provisions, and conditions of this Agreement will continue unchanged
except as specifically revised in this Amendment.
Page 1 of 13
In witness of the above,
THE METROPOLITAN LIFE INSURANCE COMPANIES
WHICH SHALL INCLUDE THE FOLLOWING COMPANIES:
METROPOLITAN LIFE INSURANCE COMPANY, A NEW YORK INSURANCE COMPANY,
NEW ENGLAND LIFE INSURANCE COMPANY, A MASSACHUSETTS INSURANCE COMPANY,
GENERAL AMERICAN LIFE INSURANCE COMPANY, A MISSOURI INSURANCE COMPANY,
METLIFE INVESTORS USA INSURANCE COMPANY, A DELAWARE INSURANCE COMPANY,
METLIFE INVESTORS INSURANCE COMPANY, A MISSOURI INSURANCE COMPANY,
FIRST METLIFE INVESTORS INSURANCE COMPANY, A NEW YORK INSURANCE COMPANY,
METROPOLITAN TOWER LIFE INSURANCE COMPANY, A DELAWARE INSURANCE COMPANY, AND
METLIFE INSURANCE COMPANY OF CONNECTICUT, A CONNECTICUT INSURANCE COMPANY.
("THE CEDING COMPANY" OR "COMPANIES")
and
GENERALI USA LIFE REASSURANCE COMPANY, A MISSOURI REINSURANCE COMPANY
("THE REINSURER")
have by their respective officers executed and delivered this Amendment,
effective APRIL 29, 2013.
METROPOLITAN LIFE INSURANCE COMPANY
By: /s/ Xxxxxxx Xxxxx
----------------------------------
Name: Xxxxxxx Xxxxx
----------------------------------
Title: Senior Vice President
----------------------------------
NEW ENGLAND LIFE INSURANCE COMPANY
By: /s/ Xxxxxxx Xxxxx
----------------------------------
Name: Xxxxxxx Xxxxx
----------------------------------
Title: Vice President
----------------------------------
Page 2 of 13
GENERAL AMERICAN LIFE INSURANCE COMPANY
By: /s/ Xxxxxxx Xxxxx
----------------------------------
Name: Xxxxxxx Xxxxx
----------------------------------
Title: Vice President
----------------------------------
METLIFE INVESTORS USA INSURANCE COMPANY
By: /s/ Xxxxxxx Xxxxx
----------------------------------
Name: Xxxxxxx Xxxxx
----------------------------------
Title: Vice President
----------------------------------
METLIFE INVESTORS INSURANCE COMPANY
By: /s/ Xxxxxxx Xxxxx
----------------------------------
Name: Xxxxxxx Xxxxx
----------------------------------
Title: Vice President
----------------------------------
FIRST METLIFE INVESTORS INSURANCE COMPANY
By: /s/ Xxxxxxx Xxxxx
----------------------------------
Name: Xxxxxxx Xxxxx
----------------------------------
Title: Vice President
----------------------------------
METROPOLITAN TOWER LIFE INSURANCE COMPANY
By: /s/ Xxxxxxx Xxxxx
----------------------------------
Name: Xxxxxxx Xxxxx
----------------------------------
Title: Vice President
----------------------------------
Page 3 of 13
METLIFE INSURANCE COMPANY OF CONNECTICUT
By: /s/ Xxxxxxx Xxxxx
----------------------------------
Name: Xxxxxxx Xxxxx
----------------------------------
Title: Vice President
----------------------------------
GENERALI USA LIFE REASSURANCE COMPANY
By: /s/ Xxxxxx Xxxxxxxx By: /s/ Xxxxx Xxxx
------------------------------- ------------------------------
Name: Xxxxxx Xxxxxxxx Name: Xxxxx Xxxx
------------------------------- ------------------------------
Title: SVP Title: Asst Registrar
------------------------------- ------------------------------
Page 4 of 13
EXHIBIT III
POLICIES AND RIDERS
-------------------
The Policies and Riders underwritten by or on behalf of the Ceding Companies or
simplified issue with fully underwritten rates, as described below may be ceded
hereunder:
STATUTORY
VALUATION
REINSURANCE REINSURANCE REINSURANCE REINSURANCE CEDING MORTALITY RATES TO BE
PRODUCT CATEGORY BASIS MAXIMUM AGE TABLE COMPANY TABLE USED
------- ----------- ------------- ----------- -------------- ---------- --------- ---------------
90-95modified MLI 6 Class
GLT Term Excess 100 - UW.xls XXX/XXXX 0000 XXX Xxxxx Xxxx
90-95modified Permanent -
UL/Accum - UW to age XXXX, XXX 0 class
JSUL 2005 Product First Dollar 120 120.xls USA 2001 CSO (joint life)
Permanent -
5 class
(single life);
Permanent -
4 class
(single life);
90-95modified Permanent -
UL/Accum - UW to age XXXX, XXX 0 class
GAUL07 Product First Dollar 121 120.xls USA 2001 CSO (single life)
90-95modified Permanent -
UL/Accum - UW to age XXXX, XXX 0 class
EAVUL08 Product Excess 121 120.xls USA 2001 CSO (single life)
Life Paid up at 90-95modified Permanent -
Age 100 (WL UL/Accum - UW to age 5 class
08) Product Excess 121 120.xls XXXX 0000 CSO (single life)
Permanent -
EEA COLI UL/Accum 90-95modified 5 class
(2001 CSO) Product Excess 100 - UW.xls NELICO 2001 CSO (single life)
Permanent -
UL/Accum 90-95modified 4 class
PPVUL Product Excess 100 - UW.xls GALIC 2001 CSO (single life)
90-95modified Permanent -
UL/Accum - UW - 2 class
Premier BOLI Product Excess 100 ALB.xls MLIC 2001 CSO (single life)
90-95modified Permanent -
UL/Accum - UW to age XXXX, XXX 0 class
LASUL 09 Product First Dollar 120 120.xls USA 2001 CSO (joint life)
Permanent -
5 class
(single life);
Permanent -
4 class
(single life);
90-95modified Permanent -
UL/Accum - UW to age XXXX, XXX 0 class
XXXX 09 Product First Dollar 121 120.xls USA 2001 CSO (single life)
90-95modified Permanent -
UL/Accum - UW to age XXXX, XXX 0 class
WL 10 Product Excess 120 120.xls USA 2001 CSO (single life)
90-95modified Permanent -
UL/Accum - UW to age XXXX, XXX 0 class
LASUL 11 Product First Dollar 120 120.xls USA 2001 CSO (joint life)
Page 5 of 13
STATUTORY
VALUATION
REINSURANCE REINSURANCE REINSURANCE REINSURANCE CEDING MORTALITY RATES TO BE
PRODUCT CATEGORY BASIS MAXIMUM AGE TABLE COMPANY TABLE USED
------- ----------- ------------- ----------- -------------- ---------- --------- ---------------
Permanent -
5 class
(single life);
Permanent -
4 class
(single life);
90-95modified Permanent -
UL/Accum - UW to age XXXX, XXX 0 class
XXXX 11 Product First Dollar 121 120.xls USA 2001 CSO (single life)
90-95modified Permanent -
Life Paid up at UL/Accum - UW to age XXXX, XXX 0 class
Age 120 (L120) Product Excess 120 120.xls USA 2001 CSO (single life)
90-95modified Permanent -
UL/Accum - UW to age XXXX, XXX 0 class
LASUL 12 Product First Dollar 120 120.xls USA 2001 CSO (joint life)
Permanent -
5 class
(single life);
Permanent -
4 class
(single life);
90-95modified Permanent -
UL/Accum - UW to age XXXX, XXX 0 class
XXXX 12 Product First Dollar 121 120.xls USA 2001 CSO (single life)
90-95modified Permanent -
UL/Accum - UW to age XXXX, XXX 0 class
LGUL 12 Product Excess 121 120.xls USA 2001 CSO (single life)
90-95modified XXXX, XXX 0 Class Level
CDT Term Excess 100 - UW.xls USA 2001 CSO Term
90-95modified XXXX, XXX 0 Class One
OYT Term Excess 100 - UW.xls USA 2001 CSO Year Term
OYT w
Convertible &
Renewable 90-95modified XXXX, XXX 0 Class One
Options rider Term Excess 100 - UW.xls USA 2001 CSO Year Term
90-95modified Permanent -
UL/Accum - UW to age XXXX, XXX 0 class
LP 10 Product Excess 120 120.xls USA 2001 CSO (single life)
90-95modified Permanent -
UL/Accum - UW to age XXXX, XXX 0 class
LP 20 Product Excess 120 120.xls USA 2001 CSO (single life)
90-95modified Permanent -
UL/Accum - UW to age XXXX, XXX 0 class
LP 65 Product Excess 120 120.xls USA 2001 CSO (single life)
Product
-------
GLT - Guaranteed Level Term
JSUL 2005 - Joint Universal Life with Secondary Guarantee
GAUL07 - Universal Life with Secondary Guarantee
EAVUL08 - Variable Universal Life
Life Paid up at Age 100 (WL08) - Whole Life
EEA COLI (2001 CSO) - Variable Universal Life
PPVUL - Variable Universal Life
Premier BOLI - Universal Life
LASUL 09 - Joint Universal Life with Secondary Guarantee
Page 6 of 13
XXXX 09 - Universal Life with Secondary Guarantee
WL 10 - Whole Life
LASUL 11 - Joint Universal Life with Secondary Guarantee
XXXX 11 - Universal Life with Secondary Guarantee
Life Paid up at Age 120 (L120) - Whole Life
LASUL 12 - Joint Universal Life with Secondary Guarantee
XXXX 12 - Universal Life with Secondary Guarantee
LGUL 12 - Universal Life with Secondary Guarantee
CDT - Guaranteed Level Term
OYT - One Year Term
OYT w/ Convertible & Renewable Options rider - One Year Term
LP10 - Whole Life
LP20 - Whole Life
LP65 - Whole Life
Riders attached to the listed plans
-----------------------------------
ADBR - Accelerated Death Benefit Rider
Preliminary Term/Temporary Term
ART - Annually Renewable Term
JTCR - Joint Term Coverage Rider
RPR - Return of Premium Rider
EPTR - Estate Preservation Term Rider
SFIO - Scheduled Face Increase Option
PAIR - Option to Purchase Additional Insurance Rider
Inside Term Rider
Outside Term Rider
FTR - Flexible Term Rider
Other
-----
The Reinsurer shall pay its share of any claim after the Reinsurance Maximum
Age under the extended maturity coverage, including interest, as defined in
Article VI. For joint life policies with one life insurable, this will be the
Reinsurance Maximum Age of the insurable life and for joint life policies with
both lives insurable, this will be the Reinsurance Maximum Age of the younger
insured.
Products not listed above resulting from the exercise of business exchanges,
policy split options, and purchase options shall be covered on an excess
reinsurance basis.
For Policies ceded with RPR/SFIO riders, the maximum net amount at risk
illustrated at the time of issue shall be used for purposes of underwriting,
autobind limits, and jumbo limits. For Policies ceded facultatively with RPR
rider, the ultimate amount ceded to the Reinsurers shall not exceed the maximum
net amount at risk included in the facultative offers from the Reinsurers.
Page 7 of 13
EXHIBIT IV
TABLE A
-------
Joint Life Minimum Premium Per Thousand: 0.15
For policies with a Reinsurance Basis of Excess and Reinsurance Category of Term
--------------------------------------------------------------------------------
6 Class Level Term - T10
Female Female Male Male
Risk Class Rate Table Class Yrs 1-10 Yrs 11+ Yrs 1-10 Yrs 11+
Elite+ NS Elite Nonsmoker 63.0% 157.3% 55.0% 137.5%
Pref+ NS Elite Nonsmoker 68.2% 170.4% 57.7% 144.1%
Std+ NS Preferred Nonsmoker 60.7% 151.6% 53.2% 132.9%
Std NS Standard (Residual) Nonsmoker 63.3% 157.8% 54.4% 136.0%
Pref SM Preferred Smoker 75.1% 187.5% 85.7% 214.1%
Std SM Standard (Residual) Smoker 79.5% 198.5% 78.5% 196.2%
6 Class Level Term - T15
Female Female Male Male
Risk Class Rate Table Class Yrs 1-15 Yrs 16+ Yrs 1-15 Yrs 16+
Elite+ NS Elite Nonsmoker 59.9% 149.5% 52.4% 130.8%
Pref+ NS Elite Nonsmoker 64.3% 160.5% 55.9% 139.5%
Std+ NS Preferred Nonsmoker 58.8% 147.0% 50.8% 127.0%
Std NS Standard (Residual) Nonsmoker 58.8% 147.0% 50.0% 124.8%
Pref SM Preferred Smoker 73.2% 182.9% 84.0% 209.8%
Std SM Standard (Residual) Smoker 77.1% 192.5% 76.7% 191.5%
6 Class Level Term - T20
Female Female Female Male Male Male
Risk Class Rate Table Class Yrs 1-15 Yrs 16-20 Yrs 21+ Yrs 1-15 Yrs 16-20 Yrs 21+
Elite+ NS Elite Nonsmoker 62.3% 60.1% 150.1% 54.9% 56.6% 141.2%
Pref+ NS Elite Nonsmoker 64.2% 65.4% 163.4% 57.6% 58.3% 145.6%
Std+ NS Preferred Nonsmoker 63.4% 59.0% 147.5% 54.6% 53.3% 133.2%
Std NS Standard (Residual) Nonsmoker 60.1% 55.9% 139.5% 53.3% 50.6% 126.5%
Pref SM Preferred Smoker 71.7% 89.1% 222.8% 79.7% 101.3% 253.2%
Std SM Standard (Residual) Smoker 76.3% 88.4% 220.8% 74.6% 91.3% 227.9%
Page 8 of 13
6 Class Level Term - T30
Female Female Female Male Male Male
Risk Class Rate Table Class Yrs 1-15 Yrs 16-30 Yrs 31+ Yrs 1-15 Yrs 16-30 Yrs 31+
Elite+ NS Elite Nonsmoker 66.4% 54.6% 136.5% 59.6% 58.9% 147.3%
Pref+ NS Elite Nonsmoker 68.8% 56.3% 140.5% 65.9% 62.7% 156.6%
Std+ NS Preferred Nonsmoker 71.2% 53.6% 133.9% 62.4% 55.4% 138.4%
Std NS Standard (Residual) Nonsmoker 61.7% 45.5% 113.6% 64.3% 53.7% 134.3%
Pref SM Preferred Smoker 69.1% 75.9% 189.7% 71.9% 90.2% 225.6%
Std SM Standard (Residual) Smoker 76.1% 77.2% 192.7% 70.8% 84.2% 210.3%
2 Class One Year Term
Female Male
Risk Class Rate Table Class Yr 1 Yr 1
Std NS Standard (Residual) Nonsmoker 74.1% 63.7%
Std SM Standard (Residual) Smoker 93.1% 91.9%
6 Class One Year Term
Female Male
Risk Class Rate Table Class Yrs 1-5 Yrs 1-5
Elite+ NS Elite Nonsmoker 66.8% 58.3%
Pref+ NS Elite Nonsmoker 72.3% 61.2%
Std+ NS Preferred Nonsmoker 64.4% 56.4%
Std NS Standard (Residual) Nonsmoker 67.1% 57.7%
Pref SM Preferred Smoker 79.7% 90.9%
Std SM Standard (Residual) Smoker 84.3% 83.3%
Page 9 of 13
For policies with a Reinsurance Basis of First Dollar and Reinsurance Category
of UL/Accumulation
---------------------------------------------------------------------------
Permanent Fully Underwritten 5-Class - Single Life - $1,000,000 +
Female Female Female Female Female Female Female Female
IA 0-17 IA 18-70 IA 71-80 IA 81-85 IA 0-17 IA 18-70 IA 71-80 IA 81-85
Risk Class Rate Table Class Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 16+ Yrs 16+ Yrs 16+ Yrs 16+
Elite NS Elite Nonsmoker 56.1% 63.6% 76.5% 82.2%
Pref NS Preferred Nonsmoker 59.1% 65.2% 74.4% 69.3%
Std NS Standard (Residual) Nonsmoker 59.3% 68.6% 68.6% 70.5% 60.0% 60.0%
Pref SM Preferred Smoker 77.0% 149.9% 132.7% 176.4%
Std SM Standard (Residual) Smoker 80.3% 162.3% 162.3% 123.1% 184.8% 184.8%
Agg Aggregate 59.3% 70.5%
Male Male Male Male Male Male Male Male
IA 0-17 IA 18-70 IA 71-80 IA 81-85 IA 0-17 IA 18-70 IA 71-80 IA 81-85
Risk Class Rate Table Class Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 16+ Yrs 16+ Yrs 16+ Yrs 16+
Elite NS Elite Nonsmoker 46.2% 50.2% 56.2% 66.9%
Pref NS Preferred Nonsmoker 49.7% 50.2% 54.4% 57.8%
Std NS Standard (Residual) Nonsmoker 46.8% 51.7% 51.7% 48.4% 53.1% 53.1%
Pref SM Preferred Smoker 89.0% 139.0% 133.9% 149.7%
Std SM Standard (Residual) Smoker 80.2% 147.1% 147.1% 115.6% 134.3% 134.3%
Agg Aggregate 46.8% 48.4%
Permanent Fully Underwritten 5-Class - Single Life - $250,000 - $999,999
Female Female Female Female Female Female Female Female
IA 0-17 IA 18-70 IA 71-80 IA 81-85 IA 0-17 IA 18-70 IA 71-80 IA 81-85
Risk Class Rate Table Class Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 16+ Yrs 16+ Yrs 16+ Yrs 16+
Elite NS Elite Nonsmoker 75.1% 85.8% 98.3% 107.0%
Pref NS Preferred Nonsmoker 74.0% 81.1% 97.4% 91.7%
Std NS Standard (Residual) Nonsmoker 75.9% 82.5% 82.5% 93.9% 81.0% 81.0%
Pref SM Preferred Smoker 103.4% 202.3% 171.5% 241.6%
Std SM Standard (Residual) Smoker 108.2% 219.0% 219.0% 159.5% 257.8% 257.8%
Agg Aggregate 75.9% 93.9%
Male Male Male Male Male Male Male Male
IA 0-17 IA 18-70 IA 71-80 IA 81-85 IA 0-17 IA 18-70 IA 71-80 IA 81-85
Risk Class Rate Table Class Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 16+ Yrs 16+ Yrs 16+ Yrs 16+
Elite NS Elite Nonsmoker 60.9% 68.3% 72.8% 87.7%
Pref NS Preferred Nonsmoker 63.4% 68.2% 70.6% 76.1%
Std NS Standard (Residual) Nonsmoker 61.6% 67.9% 67.9% 62.9% 67.2% 67.2%
Pref SM Preferred Smoker 119.8% 189.0% 175.6% 205.4%
Std SM Standard (Residual) Smoker 108.3% 170.9% 170.9% 152.9% 184.7% 184.7%
Agg Aggregate 61.6% 62.9%
Page 10 of 13
Permanent Fully Underwritten 4-Class - Single Life - $100,000 - $249,999
Female Female Female Female Female Female Female Female
IA 0-17 IA 18-70 IA 71-80 IA 81-85 IA 0-17 IA 18-70 IA 71-80 IA 81-85
Risk Class Rate Table Class Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 16+ Yrs 16+ Yrs 16+ Yrs 16+
Pref NS Preferred Nonsmoker 74.0% 81.1% 97.4% 91.7%
Std NS Standard (Residual) Nonsmoker 75.9% 82.5% 82.5% 93.9% 81.0% 81.0%
Pref SM Preferred Smoker 103.4% 202.3% 171.5% 241.6%
Std SM Standard (Residual) Smoker 108.2% 219.0% 219.0% 159.5% 257.8% 257.8%
Agg Aggregate 75.9% 93.9%
Male Male Male Male Male Male Male Male
IA 0-17 IA 18-70 IA 71-80 IA 81-85 IA 0-17 IA 18-70 IA 71-80 IA 81-85
Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 16+ Yrs 16+ Yrs 16+ Yrs 16+
Pref NS Preferred Nonsmoker 63.4% 68.2% 70.6% 76.1%
Std NS Standard (Residual) Nonsmoker 61.6% 67.9% 67.9% 62.9% 67.2% 67.2%
Pref SM Preferred Smoker 119.8% 189.0% 175.6% 205.4%
Std SM Standard (Residual) Smoker 108.3% 170.9% 170.9% 152.9% 184.7% 184.7%
Agg Aggregate 61.6% 62.9%
Permanent Fully Underwritten 2-Class - Single Life - < $100,000
Female Female Female Female Female Female Female Female
IA 0-17 IA 18-70 IA 71-80 IA 81-85 IA 0-17 IA 18-70 IA 71-80 IA 81-85
Risk Class Rate Table Class Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 16+ Yrs 16+ Yrs 16+ Yrs 16+
Std NS Standard (Residual) Nonsmoker 83.4% 95.5% 95.5% 102.7% 93.8% 93.8%
Std SM Standard (Residual) Smoker 113.8% 228.2% 228.2% 166.4% 272.9% 272.9%
Agg Aggregate 83.4% 102.7%
Male Male Male Male Male Male Male Male
IA 0-17 IA 18-70 IA 71-80 IA 81-85 IA 0-17 IA 18-70 IA 71-80 IA 81-85
Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 16+ Yrs 16+ Yrs 16+ Yrs 16+
Std NS Standard (Residual) Nonsmoker 67.8% 77.5% 77.5% 69.1% 77.5% 77.5%
Std SM Standard (Residual) Smoker 121.3% 191.2% 191.2% 169.0% 208.4% 208.4%
Agg Aggregate 67.8% 69.1%
Permanent Fully Underwritten 5-Class - Joint Life - $1,000,000 +
IA 18-70 IA 71-80 IA 81-90 IA 18-70 IA 71-80 IA 81-90
Risk Class Rate Table Class Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 16+ Yrs 16+ Yrs 16+
Elite NS Elite Nonsmoker 59.8% 74.4% 78.1% 75.0%
Pref NS Preferred Nonsmoker 60.6% 69.0% 69.1% 63.9%
Std NS Standard (Residual) Nonsmoker 62.3% 66.9% 66.9% 61.2% 58.4% 58.4%
Pref SM Preferred Smoker 105.1% 180.4% 164.6% 155.1%
Std SM Standard (Residual) Smoker 95.6% 194.8% 194.8% 146.2% 162.8% 162.8%
Page 11 of 13
Permanent Fully Underwritten 5-Class - Joint Life - $250,000 - $999,999
IA 18-70 IA 71-80 IA 81-90 IA 18-70 IA 71-80 IA 81-90
Risk Class Rate Table Class Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 16+ Yrs 16+ Yrs 16+
Elite NS Elite Nonsmoker 61.5% 84.2% 91.4% 93.2%
Pref NS Preferred Nonsmoker 66.7% 78.8% 82.4% 79.7%
Std NS Standard (Residual) Nonsmoker 69.0% 72.7% 72.7% 74.2% 71.7% 71.7%
Pref SM Preferred Smoker 121.2% 219.8% 202.5% 210.6%
Std SM Standard (Residual) Smoker 111.6% 240.4% 240.4% 181.2% 224.9% 224.9%
Page 12 of 13
For policies with a Reinsurance Basis of Excess and Reinsurance Category of
---------------------------------------------------------------------------
UL/Accumulation
---------------
Permanent Fully Underwritten 5-Class - Single Life
Female Female Female Female Female Female
IA 0-17 IA 18-80 IA 81-85 IA 0-17 IA 18-80 IA 81-85
Risk Class Rate Table Class Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 16+ Yrs 16+ Yrs 16+
Elite NS Elite Nonsmoker 68.1% 75.2%
Pref NS Preferred Nonsmoker 63.4% 65.4%
Std NS Standard (Residual) Nonsmoker 64.1% 64.1% 60.9% 60.9%
Pref SM Preferred Smoker 81.3% 115.0%
Std SM Standard (Residual) Smoker 85.7% 85.7% 109.7% 109.7%
Agg Aggregate 64.1% 60.9%
Male Male Male Male Male Male
IA 0-17 IA 18-80 IA 81-85 IA 0-17 IA 18-80 IA 81-85
Risk Class Rate Table Class Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 16+ Yrs 16+ Yrs 16+
Elite NS Elite Nonsmoker 58.1% 62.8%
Pref NS Preferred Nonsmoker 56.6% 55.8%
Std NS Standard (Residual) Nonsmoker 57.3% 57.3% 52.1% 52.1%
Pref SM Preferred Smoker 90.9% 123.2%
Std SM Standard (Residual) Smoker 83.2% 83.2% 108.5% 108.5%
Agg Aggregate 57.3% 52.1%
Permanent Fully Underwritten 4-Class - Single Life
Female Female Female Female Female Female
IA 0-17 IA 18-80 IA 81-85 IA 0-17 IA 18-80 IA 81-85
Risk Class Rate Table Class Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 16+ Yrs 16+ Yrs 16+
Pref NS Preferred Nonsmoker 62.1% 64.1%
Std NS Standard (Residual) Nonsmoker 64.0% 64.0% 60.8% 60.8%
Pref SM Preferred Smoker 81.3% 114.9%
Std SM Standard (Residual) Smoker 85.7% 85.7% 109.7% 109.7%
Agg Aggregate 64.0% 60.8%
Male Male Male Male Male Male
IA 0-17 IA 18-80 IA 81-85 IA 0-17 IA 18-80 IA 81-85
Risk Class Rate Table Class Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 16+ Yrs 16+ Yrs 16+
Pref NS Preferred Nonsmoker 56.0% 55.2%
Std NS Standard (Residual) Nonsmoker 57.3% 57.3% 52.0% 52.0%
Pref SM Preferred Smoker 90.8% 123.1%
Std SM Standard (Residual) Smoker 83.1% 83.1% 108.4% 108.4%
Agg Aggregate 57.3% 52.0%
Permanent Fully Underwritten 2-Class - Single Life
Female Female Male Male
IA 20-80 IA 20-80 IA 20-80 IA 20-80
Risk Class Rate Table Class Yrs 10-15 Yrs 16+ Yrs 1-15 Yrs 16+
Std NS Standard (Residual) Nonsmoker 62.2% 59.0% 57.3% 52.0%
Std SM Standard (Residual) Smoker 80.5% 103.1% 79.9% 104.1%
Page 13 of 13
AMENDMENT
EFFECTIVE SEPTEMBER 3, 2013
to the
AUTOMATIC AND FACULTATIVE YRT AGREEMENT
EFFECTIVE JANUARY 1, 2012
between
THE METROPOLITAN LIFE INSURANCE COMPANIES
WHICH SHALL INCLUDE THE FOLLOWING COMPANIES:
METROPOLITAN LIFE INSURANCE COMPANY, A NEW YORK INSURANCE COMPANY,
NEW ENGLAND LIFE INSURANCE COMPANY, A MASSACHUSETTS INSURANCE COMPANY,
GENERAL AMERICAN LIFE INSURANCE COMPANY, A MISSOURI INSURANCE COMPANY,
METLIFE INVESTORS USA INSURANCE COMPANY, A DELAWARE INSURANCE COMPANY,
METLIFE INVESTORS INSURANCE COMPANY, A MISSOURI INSURANCE COMPANY,
FIRST METLIFE INVESTORS INSURANCE COMPANY, A NEW YORK INSURANCE COMPANY,
METROPOLITAN TOWER LIFE INSURANCE COMPANY, A DELAWARE INSURANCE COMPANY, AND
METLIFE INSURANCE COMPANY OF CONNECTICUT, A CONNECTICUT INSURANCE COMPANY.
(HEREINAFTER INDIVIDUALLY OR COLLECTIVELY REFERRED TO AS "THE CEDING COMPANY" OR
"COMPANIES")
AND
GENERALI USA LIFE REASSURANCE COMPANY, A MISSOURI REINSURANCE COMPANY
(HEREINAFTER REFERRED TO AS "THE REINSURER")
This Agreement originally executed effective January 1, 2012, as amended, is
hereby amended, effective SEPTEMBER 3, 2013 for all eligible policies issued on
or after the effective date of this amendment, including policies backdated for
up to six (6) months to save age.
WHEREAS, WL 10 and L120 are covered products under the Agreement and included
in the list of products covered in Exhibit III to the Agreement;
WHEREAS, WL 10 and L120 are being repriced in September 2013; and
WHEREAS, the parties wish to document their mutual understanding that,
effective as of the effective date hereof, the Agreement shall cover WL10 and
L120 as so repriced;
NOW THEREFORE, in consideration of the mutual and foregoing recitals and the
mutual covenants and undertakings herein contained, and for other good and
valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties agree as follows.
1. Article IV is hereby replaced by the attached Article IV - Language has
been added to describe how the net amount at risk is calculated after any
accelerations for chronic illness related to the Enhanced Care Acceleration
Rider (ECAR).
2. Article VI is hereby replaced by the attached Article VI - Language has
been added to describe how claims are handled after any accelerations for
chronic illness related to ECAR.
Page 1 of 20
3. Exhibit III is hereby replaced by the attached Exhibit III - One additional
product and one additional rider are added (GLT 13 and ECAR).
4. The September 2013 reprices of WL10 and L120 are now added as covered
products; however, given that the name/plan identifiers for the repriced
products are not changing, no updates are needed to Exhibit III.
5. Exhibit IV, Table A is hereby replaced by the attached Exhibit IV, Table A
- 6 class Level Term (Elite + NS, Elite NS, Pref NS, Std NS, Pref SM, Std
SM) rates are added.
All terms, provisions, and conditions of this Agreement will continue unchanged
except as specifically revised in this Amendment.
Page 2 of 20
AMENDMENT
EFFECTIVE JULY 31, 2014
to the
AUTOMATIC AND FACULTATIVE YRT AGREEMENT
EFFECTIVE JANUARY 1, 2012
(HEREINAFTER REFERRED TO AS THE "AGREEMENT")
between
THE METROPOLITAN LIFE INSURANCE COMPANIES
WHICH SHALL INCLUDE THE FOLLOWING COMPANIES:
METROPOLITAN LIFE INSURANCE COMPANY, A NEW YORK INSURANCE COMPANY,
NEW ENGLAND LIFE INSURANCE COMPANY, A MASSACHUSETTS INSURANCE COMPANY,
GENERAL AMERICAN LIFE INSURANCE COMPANY, A MISSOURI INSURANCE COMPANY,
METLIFE INVESTORS USA INSURANCE COMPANY, A DELAWARE INSURANCE COMPANY,
METLIFE INVESTORS INSURANCE COMPANY, A MISSOURI INSURANCE COMPANY,
FIRST METLIFE INVESTORS INSURANCE COMPANY, A NEW YORK INSURANCE COMPANY,
METROPOLITAN TOWER LIFE INSURANCE COMPANY, A DELAWARE INSURANCE COMPANY, AND
METLIFE INSURANCE COMPANY OF CONNECTICUT, A CONNECTICUT INSURANCE COMPANY.
(HEREINAFTER INDIVIDUALLY OR COLLECTIVELY REFERRED TO AS "THE CEDING COMPANY" OR
"COMPANIES")
and
SCOR GLOBAL LIFE USA REINSURANCE COMPANY
(HEREINAFTER REFERRED TO AS "THE REINSURER")
This Agreement originally executed effective January 1, 2012, as amended, is
hereby amended, effective July 31, 2014.
WHEREAS, the Agreement was originally with Generali USA Life Reassurance
Company, and
WHEREAS, SCOR Global Life USA Reinsurance Company was formerly known as
Generali USA Life Reassurance Company;
NOW THEREFORE, in consideration of the mutual and foregoing recital and the
mutual covenants and undertakings herein contained, and for other good and
valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties agree as follows.
1. CANCELLATION OF NEW BUSINESS - After July 31, 2014, the Ceding Company will
no longer cede and the Reinsurer will no longer accept new business under
this Agreement.
All terms, provisions, and conditions of this Agreement will continue unchanged
except as specifically revised in this Amendment.
Page 1 of 3
In witness of the above,
THE METROPOLITAN LIFE INSURANCE COMPANIES
WHICH SHALL INCLUDE THE FOLLOWING COMPANIES:
METROPOLITAN LIFE INSURANCE COMPANY, A NEW YORK INSURANCE COMPANY,
NEW ENGLAND LIFE INSURANCE COMPANY, A MASSACHUSETTS INSURANCE COMPANY,
GENERAL AMERICAN LIFE INSURANCE COMPANY, A MISSOURI INSURANCE COMPANY,
METLIFE INVESTORS USA INSURANCE COMPANY, A DELAWARE INSURANCE COMPANY,
METLIFE INVESTORS INSURANCE COMPANY, A MISSOURI INSURANCE COMPANY,
FIRST METLIFE INVESTORS INSURANCE COMPANY, A NEW YORK INSURANCE COMPANY,
METROPOLITAN TOWER LIFE INSURANCE COMPANY, A DELAWARE INSURANCE COMPANY, AND
METLIFE INSURANCE COMPANY OF CONNECTICUT, A CONNECTICUT INSURANCE COMPANY.
("THE CEDING COMPANY" OR "COMPANIES")
and
SCOR GLOBAL LIFE USA REINSURANCE COMPANY
("THE REINSURER")
have by their respective officers executed and delivered this Amendment,
effective July 31, 2014.
METROPOLITAN LIFE INSURANCE COMPANY
By: /s/ Xxxxxxx Xxxxx
----------------------------------
Name: Xxxxxxx Xxxxx
----------------------------------
Title: Senior Vice President
----------------------------------
NEW ENGLAND LIFE INSURANCE COMPANY
By: /s/ Xxxxxxx Xxxxx
----------------------------------
Name: Xxxxxxx Xxxxx
----------------------------------
Title: Vice President
----------------------------------
GENERAL AMERICAN LIFE INSURANCE COMPANY
By: /s/ Xxxxxxx Xxxxx
----------------------------------
Name: Xxxxxxx Xxxxx
----------------------------------
Title: Vice President
----------------------------------
Page 2 of 3
METLIFE INSURANCE COMPANY USA AS
SUCCESSOR IN INTEREST TO METLIFE
INVESTORS USA INSURANCE COMPANY
By: /s/ Xxxxxxx Xxxxx
----------------------------------
Name: Xxxxxxx Xxxxx
----------------------------------
Title: Vice President
----------------------------------
METLIFE INSURANCE COMPANY USA AS
SUCCESSOR IN INTEREST TO METLIFE
INVESTORS INSURANCE COMPANY
By: /s/ Xxxxxxx Xxxxx
----------------------------------
Name: Xxxxxxx Xxxxx
----------------------------------
Title: Vice President
----------------------------------
FIRST METLIFE INVESTORS INSURANCE COMPANY
By: /s/ Xxxxxxx Xxxxx
----------------------------------
Name: Xxxxxxx Xxxxx
----------------------------------
Title: Vice President
----------------------------------
METROPOLITAN TOWER LIFE INSURANCE COMPANY
By: /s/ Xxxxxxx Xxxxx
----------------------------------
Name: Xxxxxxx Xxxxx
----------------------------------
Title: Vice President
----------------------------------
METLIFE INSURANCE COMPANY USA AS
SUCCESSOR IN INTEREST TO METLIFE
INSURANCE COMPANY OF CONNECTICUT
By: /s/ Xxxxxxx Xxxxx
----------------------------------
Name: Xxxxxxx Xxxxx
----------------------------------
Title: Vice President
----------------------------------
SCOR GLOBAL LIFE USA REINSURANCE COMPANY
By: /s/ Xxxx X. Xxxxxx By: /s/ Xxxxx X. Xxxxx
------------------------------- ------------------------------
Name: Xxxx X. Xxxxxx Name: Xxxxx X. Xxxxx
------------------------------- ------------------------------
Title: AVP & Asst. Secretary Title: SVP
------------------------------- ------------------------------
Page 3 of 3
In witness of the above,
THE METROPOLITAN LIFE INSURANCE COMPANIES
WHICH SHALL INCLUDE THE FOLLOWING COMPANIES:
METROPOLITAN LIFE INSURANCE COMPANY, A NEW YORK INSURANCE COMPANY,
NEW ENGLAND LIFE INSURANCE COMPANY, A MASSACHUSETTS INSURANCE COMPANY,
GENERAL AMERICAN LIFE INSURANCE COMPANY, A MISSOURI INSURANCE COMPANY,
METLIFE INVESTORS USA INSURANCE COMPANY, A DELAWARE INSURANCE COMPANY,
METLIFE INVESTORS INSURANCE COMPANY, A MISSOURI INSURANCE COMPANY,
FIRST METLIFE INVESTORS INSURANCE COMPANY, A NEW YORK INSURANCE COMPANY,
METROPOLITAN TOWER LIFE INSURANCE COMPANY, A DELAWARE INSURANCE COMPANY, AND
METLIFE INSURANCE COMPANY OF CONNECTICUT, A CONNECTICUT INSURANCE COMPANY.
("THE CEDING COMPANY" OR "COMPANIES")
and
GENERALI USA LIFE REASSURANCE COMPANY, A MISSOURI REINSURANCE COMPANY
("THE REINSURER")
have by their respective officers executed and delivered this Amendment,
effective SEPTEMBER 3, 2013.
METROPOLITAN LIFE INSURANCE COMPANY
By: /s/ Xxxxxxx Xxxxx
----------------------------------
Name: Xxxxxxx Xxxxx
----------------------------------
Title: Senior Vice President
----------------------------------
NEW ENGLAND LIFE INSURANCE COMPANY
By: /s/ Xxxxxxx Xxxxx
----------------------------------
Name: Xxxxxxx Xxxxx
----------------------------------
Title: Vice President
----------------------------------
Page 3 of 20
GENERAL AMERICAN LIFE INSURANCE COMPANY
By: /s/ Xxxxxxx Xxxxx
----------------------------------
Name: Xxxxxxx Xxxxx
----------------------------------
Title: Vice President
----------------------------------
METLIFE INVESTORS USA INSURANCE COMPANY
By: /s/ Xxxxxxx Xxxxx
----------------------------------
Name: Xxxxxxx Xxxxx
----------------------------------
Title: Vice President
----------------------------------
METLIFE INVESTORS INSURANCE COMPANY
By: /s/ Xxxxxxx Xxxxx
----------------------------------
Name: Xxxxxxx Xxxxx
----------------------------------
Title: Vice President
----------------------------------
FIRST METLIFE INVESTORS INSURANCE COMPANY
By: /s/ Xxxxxxx Xxxxx
----------------------------------
Name: Xxxxxxx Xxxxx
----------------------------------
Title: Vice President
----------------------------------
METROPOLITAN TOWER LIFE INSURANCE COMPANY
By: /s/ Xxxxxxx Xxxxx
----------------------------------
Name: Xxxxxxx Xxxxx
----------------------------------
Title: Vice President
----------------------------------
Page 4 of 20
METLIFE INSURANCE COMPANY OF CONNECTICUT
By: /s/ Xxxxxxx Xxxxx
----------------------------------
Name: Xxxxxxx Xxxxx
----------------------------------
Title: Vice President
----------------------------------
GENERALI USA LIFE REASSURANCE COMPANY
By: /s/ Xxxxx Xxxx By: /s/ Xxxxx X. Xxxxx
------------------------------- ------------------------------
Name: Xxxxx Xxxx Name: Xxxxx X. Xxxxx
------------------------------- ------------------------------
Title: Asst. Registrar Title: SVP
------------------------------- ------------------------------
Page 5 of 20
ARTICLE IV
REINSURANCE PREMIUMS
--------------------
A. Life reinsurance shall be on the yearly renewable term basis for the net
amount at risk (death benefit less cash value or fund value) on that
portion of the policy which is reinsured by the Reinsurer. Premiums and
allowances shall be based on the rates specified in Exhibit IV. For
purposes of calculating the net amount at risk, the accelerations of death
benefit for chronic illness under the Enhanced Care Acceleration Rider
(ECAR) are ignored.
B. The Reinsurer shall not indemnify the Ceding Company for premium taxes or
guaranty fund assessments. In the event that the Reinsurer becomes an alien
company, the Reinsurer shall reimburse the Ceding Company for any federal
excise tax payable on business ceded under this Agreement.
C. The Ceding Company shall report and pay reinsurance premiums on an annual
basis in advance without regard to the Policy mode of premium payment.
D. For technical reasons relating to statutory reserve requirements, the YRT
rates described in Exhibit IV cannot be guaranteed for more than one year.
The Reinsurer anticipates continuing to accept premiums on the basis of the
YRT rates described in Exhibit IV. The guaranteed reinsurance premium for
each age and duration shall be the higher of the premium based on the
reinsurance rates shown in Exhibit IV or the premium based on the statutory
minimum valuation mortality table, as specified in Exhibit III, and the
statutory maximum valuation interest rate permitted for the underlying
Policy under the National Association of Insurance Commissioners' Standard
Valuation Law.
E. During the fifteen (15) years following the issue date of the original
Policy, the Reinsurer may increase the YRT rates only due to actual
mortality experience poorer than originally priced for on this business and
all similar business and only if the Reinsurer also concurrently increases
the reinsurance rates on all similar business by a like amount. Similar
business would include all reinsurance assumed on fully underwritten
products issued in the five (5) years prior or subsequent to the effective
date of the Agreement where the Reinsurer has the right to raise rates.
Notwithstanding the above, if the Ceding Company increases it's charges to
the Policyholder based on changes in actual or expected mortality, the
Reinsurer may increase rates on this Agreement on a consistent basis. The
Reinsurer shall provide one hundred and eighty (180) days written notice
prior to any increase in YRT rates taking effect.
Should the Reinsurer at any time be required to establish or maintain any
additional reserves, including deficiency reserves, on the inforce business
ceded under this Agreement by the insurance regulatory authority in its
state of domicile by virtue of the assurances provided above, upon the
Reinsurer's written notice to the Ceding Company, this Section E will be
modified and amended as mutually agreed upon by the Ceding Company and
Reinsurer to eliminate any additional reserves, including deficiency
reserves, on the inforce business ceded under this Agreement. If, after
thirty (30) days following this
Page 6 of 20
notice, this Section E language cannot be agreed to by the Ceding Company
and the Reinsurer, the first paragraph of this Section E will be deleted
without any further formalities or actions.
F. For Policies that terminate, reduce or change, the Reinsurer shall refund
any unearned reinsurance premium net of any allowances.
G. For Policies that are reinstated after coverage has ceased, the Ceding
Company shall pay to the Reinsurer reinsurance premiums net of any
allowances for the period for which the Ceding Company received Policy
premiums in arrears.
Page 7 of 20
ARTICLE VI
CLAIMS
------
A. The Reinsurer shall in all cases be obligated to follow the Ceding
Company's fortunes and settlements. The Reinsurer shall be unconditionally
bound by the judgment of the Ceding Company as to the obligations and
liabilities of the Ceding Company under any Policy. The Ceding Company's
decision to pay contractual Policy claims without contest, compromise or
litigation shall be unconditionally binding on the Reinsurer. The Reinsurer
shall consider participating in the Ceding Company's EX GRATIA payments on
a case-by-case basis but is not legally bound to participate in such
payments.
B. The Ceding Company shall give written notice within a reasonable timeframe
of Policy claims to the Reinsurer. In respect of any claim, the Ceding
Company shall, at the Reinsurer's request, provide copies to the Reinsurer
of the proof of payment by the Ceding Company and a copy of the insured's
death certificate. For those claims where documentation is provided, the
Reinsurer shall accept copies of the proof of payment by the Ceding Company
and copy of the insured's death certificate provided by the Ceding Company
as sufficient evidence of the Ceding Company's liability.
C. The Ceding Company shall give written notice within a reasonable timeframe
to the Reinsurer that the Ceding Company intends to contest, compromise or
litigate a Policy claim over $2,000,000. The Ceding Company shall also
provide the Reinsurer written notice within a reasonable timeframe of any
legal proceedings initiated against the Ceding Company in response to its
contest of a Policy claim over $2,000,000. Upon receipt of the Ceding
Company's notice of its intent to contest, compromise or litigate a Policy
claim, the Reinsurer shall promptly pay its share of the amount that would
have been payable had there been no controversy. For any Policy claim of
$2,000,000 or less, the Reinsurer shall be deemed to have agreed to
participate in the contest; however, for purposes of extra-contractual
damages as described in Article XVI, Section I, the Reinsurer shall not be
deemed to have agreed in writing to participate in the contest. If the
Reinsurer has agreed to participate in the contest and the contest,
compromise or litigation results in a reduction in the liability of the
Policy, the Reinsurer shall share in the reduction in the same proportion
that the amount of reinsurance bore to the amount payable under the terms
of the Policy on the date of death of the insured.
D. The Reinsurer shall pay its share of specific claim investigation and legal
expenses relative to contested, compromised or litigated claims, the
investigation of contestable death claims, accelerated death benefit
claims, foreign death claims or investigative expenses associated with a
fraudulent life insurance matter unless the Reinsurer has discharged its
liability in accordance with Section C, above. If the Reinsurer has so
discharged its liability, it shall not participate in any expenses incurred
thereafter.
The Reinsurer shall not be liable for any portion of any administrative
expenses incidental to the settlement of claims or for the compensation of
salaried officers and employees of the Ceding Company involved in the
settlement or investigation of claims, provided however that compensation
as used in this
Page 8 of 20
paragraph shall not include the hourly fees and expenses associated with
the investigation or litigation of a particular claim by salaried officers
and employees of the Ceding Company. The Reinsurer shall not be liable for
expenses incurred by the Ceding Company solely to resolve a dispute arising
out of conflicting claims of entitlement to policy proceeds or benefits.
E. In the event that the amount of insurance provided by a Policy or Policies
reinsured hereunder shall be increased or reduced because of a misstatement
of age or sex established after the death of the insured, the Reinsurer
shall share in the increase or reduction in the proportion to the net
liability that the Reinsurer bore to the total net liability under the
Policy immediately prior to such increase or reduction. The Policy or
Policies shall be restated in accordance with the terms and rules of the
Ceding Company; however, no adjustment in age or sex shall be deemed to
cause a Policy or Policies to exceed the Automatic Binding Limits or Jumbo
Limits. Any adjustment for the difference in reinsurance premiums shall be
made without interest.
F. The Reinsurer shall pay interest on its share of any Policy claim
settlement calculated at the same rate and for the same period of time as
that used by the Ceding Company.
G. The Reinsurer shall share in the same proportion of any claim under an
accelerated death benefit rider (and any continued coverage under the
policy) that the Reinsurer would share in the absence of the rider.
H. The Reinsurer shall pay its share of any death benefit that has been
accelerated under ECAR at the time of the insured's death. For any Policy
with ECAR where a portion of the death benefit has been accelerated under
the rider, the claim includes any amounts accelerated and proof of payment
shall include proof of payment for any accelerated payments. For any Policy
with ECAR where a portion of the death benefit has been accelerated and the
Policy has later terminated, documentation from the Social Security Death
Index shall be sufficient evidence of death.
I. Policy Rescission: If it is determined that a policy reinsured under this
Agreement should be rescinded due to misrepresentation by the policyholder
or the insured, the Reinsurer will pay its share of reasonable
investigation and legal expenses connected with the rescission action.
The Reinsurer shall not be liable for any portion of any administrative
expenses incidental to the rescission action or for the compensation of
salaried officers and employees of the Ceding Company involved in the
rescission action other than third party expenses incurred by the Ceding
Company, provided however that compensation as used in this paragraph shall
not include the hourly fees and expenses associated with the investigation
or litigation of a particular rescission by salaried officers and employees
of the Ceding Company.
If the Ceding Company returns premiums to the policy owner or beneficiary
as a result of misrepresentation, or if the Ceding Company pays a suicide
benefit equal to the premiums paid for the policy, the Reinsurer will
refund net
Page 9 of 20
reinsurance premiums received on that policy to the Ceding Company, without
interest.
Page 10 of 20
EXHIBIT III
POLICIES AND RIDERS
-------------------
The Policies and Riders underwritten by or on behalf of the Ceding Companies or
simplified issue with fully underwritten rates, as described below may be ceded
hereunder:
STATUTORY
VALUATION
REINSURANCE REINSURANCE REINSURANCE REINSURANCE CEDING MORTALITY RATES TO BE
PRODUCT CATEGORY BASIS MAXIMUM AGE TABLE COMPANY TABLE USED
------- ----------- ------------- ----------- -------------- ---------- --------- ---------------
90-95modified MLI 6 Class
GLT Term Excess 100 - UW.xls XXX/XXXX 0000 XXX Xxxxx Xxxx
90-95modified Permanent -
UL/Accum - UW to age XXXX, XXX 0 class (joint
JSUL 2005 Product First Dollar 120 120.xls USA 2001 CSO life)
Permanent -
5 class
(single life);
Permanent -
4 class
(single life);
90-95modified Permanent -
UL/Accum - UW to age XXXX, XXX 0 class
GAUL07 Product First Dollar 121 120.xls USA 2001 CSO (single life)
90-95modified Permanent -
UL/Accum - UW to age XXXX, XXX 0 class
EAVUL08 Product Excess 121 120.xls USA 2001 CSO (single life)
Life Paid up at 90-95modified Permanent -
Age 100 (WL UL/Accum - UW to age 5 class
08) Product Excess 121 120.xls XXXX 0000 CSO (single life)
Permanent -
EEA COLI UL/Accum 90-95modified 5 class
(2001 CSO) Product Excess 100 - UW.xls NELICO 2001 CSO (single life)
Permanent -
UL/Accum 90-95modified 4 class
PPVUL Product Excess 100 - UW.xls GALIC 2001 CSO (single life)
90-95modified Permanent -
UL/Accum - UW - 2 class
Premier BOLI Product Excess 100 ALB.xls MLIC 2001 CSO (single life)
90-95modified Permanent -
UL/Accum - UW to age XXXX, XXX 0 class
LASUL 09 Product First Dollar 120 120.xls USA 2001 CSO (joint life)
Permanent -
5 class
(single life);
Permanent -
4 class
(single life);
90-95modified Permanent -
UL/Accum - UW to age XXXX, XXX 0 class
XXXX 09 Product First Dollar 121 120.xls USA 2001 CSO (single life)
90-95modified Permanent -
UL/Accum - UW to age XXXX, XXX 0 class
WL 10 Product Excess 120 120.xls USA 2001 CSO (single life)
90-95modified Permanent -
UL/Accum - UW to age XXXX, XXX 0 class (joint
LASUL 11 Product First Dollar 120 120.xls USA 2001 CSO life)
Page 11 of 20
STATUTORY
VALUATION
REINSURANCE REINSURANCE REINSURANCE REINSURANCE CEDING MORTALITY RATES TO BE
PRODUCT CATEGORY BASIS MAXIMUM AGE TABLE COMPANY TABLE USED
------- ----------- ------------ ----------- ------------- --------- --------- --------------
Permanent -
5 class
(single life);
Permanent -
4 class
(single life);
90-95modified Permanent -
UL/Accum - UW to age XXXX, XXX 0 class
XXXX 11 Product First Dollar 121 120.xls USA 2001 CSO (single life)
Life Paid up at 90-95modified Permanent -
Age 120 UL/Accum - UW to age XXXX, XXX 0 class
(L120) Product Excess 120 120.xls USA 2001 CSO (single life)
90-95modified Permanent -
UL/Accum - UW to age XXXX, XXX 0 class
LASUL 12 Product First Dollar 120 120.xls USA 2001 CSO (joint life)
Permanent -
5 class
(single life);
Permanent -
4 class
(single life);
90-95modified Permanent -
UL/Accum - UW to age XXXX, XXX 0 class
XXXX 12 Product First Dollar 121 120.xls USA 2001 CSO (single life)
90-95modified Permanent -
UL/Accum - UW to age XXXX, XXX 0 class
LGUL 12 Product Excess 121 120.xls USA 2001 CSO (single life)
90-95modified XXXX, XXX 0 Class
CDT Term Excess 100 - UW.xls USA 0000 XXX Xxxxx Xxxx
00-00xxxxxxxx XXXX, XXX 0 Class One
OYT Term Excess 100 - UW.xls USA 2001 CSO Year Term
OYT w
Convertible &
Renewable 90-95modified XXXX, XXX 0 Class One
Options rider Term Excess 100 - UW.xls USA 2001 CSO Year Term
90-95modified Permanent -
UL/Accum - UW to age XXXX, XXX 0 class
LP 10 Product Excess 120 120.xls USA 2001 CSO (single life)
90-95modified Permanent -
UL/Accum - UW to age XXXX, XXX 0 class
LP 20 Product Excess 120 120.xls USA 2001 CSO (single life)
90-95modified Permanent -
UL/Accum - UW to age XXXX, XXX 0 class
LP 65 Product Excess 120 120.xls USA 2001 CSO (single life)
6 class
Level Term
(Elite + NS,
Elite NS,
Pref NS, Std
90-95modified MLIC, MLI NS, Pref SM,
GLT 13 Term Excess 100 - UW.xls USA 2001 CSO Std SM )
Product
-------
GLT - Guaranteed Level Term
JSUL 2005 - Joint Universal Life with Secondary Guarantee
GAUL07 - Universal Life with Secondary Guarantee
Page 12 of 20
EAVUL08 - Variable Universal Life
Life Paid up at Age 100 (WL08) - Whole Life
EEA COLI (2001 CSO) - Variable Universal Life
PPVUL - Variable Universal Life
Premier BOLI - Universal Life
LASUL 09 - Joint Universal Life with Secondary Guarantee
XXXX 09 - Universal Life with Secondary Guarantee
WL 10 - Whole Life
LASUL 11 - Joint Universal Life with Secondary Guarantee
XXXX 11 - Universal Life with Secondary Guarantee
Life Paid up at Age 120 (L120) - Whole Life
LASUL 12 - Joint Universal Life with Secondary Guarantee
XXXX 12 - Universal Life with Secondary Guarantee
LGUL 12 - Universal Life with Secondary Guarantee
CDT - Guaranteed Level Term
OYT - One Year Term
OYT w/ Convertible & Renewable Options rider - One Year Term
LP10 - Whole Life
LP20 - Whole Life
LP65 - Whole Life
GLT 13 - Guaranteed Level Term
Riders attached to the listed plans
-----------------------------------
ADBR - Accelerated Death Benefit Rider
Preliminary Term/Temporary Term
ART - Annually Renewable Term
JTCR - Joint Term Coverage Rider
RPR - Return of Premium Rider
EPTR - Estate Preservation Term Rider
SFIO - Scheduled Face Increase Option
PAIR - Option to Purchase Additional Insurance Rider
Inside Term Rider
Outside Term Rider
FTR - Flexible Term Rider
ECAR - Enhanced Care Acceleration Rider
Other
-----
The Reinsurer shall pay its share of any claim after the Reinsurance Maximum
Age under the extended maturity coverage, including interest, as defined in
Article VI. For joint life policies with one life insurable, this will be the
Reinsurance Maximum Age of the insurable life and for joint life policies with
both lives insurable, this will be the Reinsurance Maximum Age of the younger
insured.
Products not listed above resulting from the exercise of business exchanges,
policy split options, and purchase options shall be covered on an excess
reinsurance basis.
For Policies ceded with RPR/SFIO riders, the maximum net amount at risk
illustrated at the time of issue shall be used for purposes of underwriting,
autobind limits, and jumbo limits. For Policies ceded facultatively with RPR
rider, the ultimate amount ceded to the Reinsurers shall not exceed the maximum
net amount at risk included in the facultative offers from the Reinsurers.
Page 13 of 20
EXHIBIT IV
TABLE A
-------
Joint Life Minimum Premium Per Thousand: 0.15
For policies with a Reinsurance Basis of Excess and Reinsurance Category of Term
--------------------------------------------------------------------------------
6 Class Level Term - T10
Female Female Male Male
Risk Class Rate Table Class Yrs 1-10 Yrs 11 + Yrs 1-10 Yrs 11+
Elite+ NS Elite Nonsmoker 63.0% 157.3% 55.0% 137.5%
Pref+ NS Elite Nonsmoker 68.2% 170.4% 57.7% 144.1%
Std+ NS Preferred Nonsmoker 60.7% 151.6% 53.2% 132.9%
Std NS Standard (Residual) Nonsmoker 63.3% 157.8% 54.4% 136.0%
Pref SM Preferred Smoker 75.1% 187.5% 85.7% 214.1%
Std SM Standard (Residual) Smoker 79.5% 198.5% 78.5% 196.2%
6 Class Level Term - T15
Female Female Male Male
Risk Class Rate Table Class Yrs 1-15 Yrs 16+ Yrs 1-15 Yrs 16+
Elite+ NS Elite Nonsmoker 59.9% 149.5% 52.4% 130.8%
Pref+ NS Elite Nonsmoker 64.3% 160.5% 55.9% 139.5%
Std+ NS Preferred Nonsmoker 58.8% 147.0% 50.8% 127.0%
Std NS Standard (Residual) Nonsmoker 58.8% 147.0% 50.0% 124.8%
Pref SM Preferred Smoker 73.2% 182.9% 84.0% 209.8%
Std SM Standard (Residual) Smoker 77.1% 192.5% 76.7% 191.5%
6 Class Level Term - T20
Female Female Female Male Male Male
Risk Class Rate Table Class Yrs 1-15 Yrs 16-20 Yrs 21 + Yrs 1-15 Yrs 16-20 Yrs 21+
Elite+ NS Elite Nonsmoker 62.3% 60.1% 150.1% 54.9% 56.6% 141.2%
Pref+ NS Elite Nonsmoker 64.2% 65.4% 163.4% 57.6% 58.3% 145.6%
Std+ NS Preferred Nonsmoker 63.4% 59.0% 147.5% 54.6% 53.3% 133.2%
Std NS Standard (Residual) Nonsmoker 60.1% 55.9% 139.5% 53.3% 50.6% 126.5%
Pref SM Preferred Smoker 71.7% 89.1% 222.8% 79.7% 101.3% 253.2%
Std SM Standard (Residual) Smoker 76.3% 88.4% 220.8% 74.6% 91.3% 227.9%
Page 14 of 20
6 Class Level Term - T30
Female Female Female Male Male Male
Risk Class Rate Table Class Yrs 1-15 Yrs 16-30 Yrs 31+ Yrs 1-15 Yrs 16-30 Yrs 31+
Eiite+ NS Elite Nonsmoker 66.4% 54.6% 136.5% 59.6% 58.9% 147.3%
Pref+ NS Elite Nonsmoker 68.8% 56.3% 140.5% 65.9% 62.7% 156.6%
Std+ NS Preferred Nonsmoker 71.2% 53.6% 133.9% 62.4% 55.4% 138.4%
Std NS Standard (Residual) Nonsmoker 61.7% 45.5% 113.6% 64.3% 53.7% 134.3%
Pref SM Preferred Smoker 69.1% 75.9% 189.7% 71.9% 90.2% 225.6%
Std SM Standard (Residual) Smoker 76.1% 77.2% 192.7% 70.8% 84.2% 210.3%
2 Class One Year Term
Female Male
Risk Class Rate Table Class Yr 1 Yr 1
Std NS Standard (Residual) Nonsmoker 74.1% 63.7%
Std SM Standard (Residual) Smoker 93.1% 91.9%
6 Class One Year Term
Female Male
Risk Class Rate Table Class Yrs 1-5 Yrs 1-5
Elite+ NS Elite Nonsmoker 66.8% 58.3%
Pref+ NS Elite Nonsmoker 72.3% 61.2%
Std+ NS Preferred Nonsmoker 64.4% 56.4%
Std NS Standard (Residual) Nonsmoker 67.1% 57.7%
Pref SM Preferred Smoker 79.7% 90.9%
Std SM Standard (Residual) Smoker 84.3% 83.3%
6 Class Level Term (Elite + NS, Elite NS, Pref NS, Std NS, Pref SM, Std SM ) - T10
Female Female Male Male
Risk Class Rate Table Class Yrs 1-10 Yrs 11+ Yrs 1-10 Yrs 11+
Elite+ NS Elite Nonsmoker 63.0% 157.3% 55.0% 137.5%
Elite NS Elite Nonsmoker 68.2% 170.4% 57.7% 144.1%
Pref NS Preferred Nonsmoker 60.7% 151.6% 53.2% 132.9%
Std NS Standard (Residual) Nonsmoker 63.3% 157.8% 54.4% 136.0%
Pref SM Preferred Smoker 75.1% 187.5% 85.7% 214.1%
Std SM Standard (Residual) Smoker 79.5% 198.5% 78.5% 196.2%
35
6 Class Level Term (Elite + NS, Elite NS, Pref NS, Std NS, Pref SM, Std SM ) - T15
Female Female Male Male
Risk Class Rate Table Class Yrs 1-15 Yrs 16+ Yrs 1-15 Yrs 16+
Elite+ NS Elite Nonsmoker 59.9% 149.5% 52.4% 130.8%
Elite NS Elite Nonsmoker 64.3% 160.5% 55.9% 139.5%
Pref NS Preferred Nonsmoker 58.8% 147.0% 50.8% 127.0%
Std NS Standard (Residual) Nonsmoker 58.8% 147.0% 50.0% 124.8%
Pref SM Preferred Smoker 73.2% 182.9% 84.0% 209.8%
Std SM Standard (Residual) Smoker 77.1% 192.5% 76.7% 191.5%
6 Class Level Term (Elite + NS, Elite NS, Pref NS, Std NS, Pref SM, Std SM ) - T20
Female Female Female Male Male Male
Risk Class Rate Table Class Yrs 1-15 Yrs 16-20 Yrs 21+ Yrs 1-15 Yrs 16-20 Yrs 21+
Elite+ NS Elite Nonsmoker 62.3% 60.1% 150.1% 54.9% 56.6% 141.2%
Elite NS Elite Nonsmoker 64.2% 65.4% 163.4% 57.6% 58.3% 145.6%
Pref NS Preferred Nonsmoker 63.4% 59.0% 147.5% 54.6% 53.3% 133.2%
Std NS Standard (Residual) Nonsmoker 60.1% 55.9% 139.5% 53.3% 50.6% 126.5%
Pref SM Preferred Smoker 71.7% 89.1% 222.8% 79.7% 101.3% 253.2%
Std SM Standard (Residual) Smoker 76.3% 88.4% 220.8% 74.6% 91.3% 227.9%
6 Class Level Term (Elite + NS, Elite NS, Pref NS, Std NS, Pref SM, Std SM ) - T30
Female Female Female Male Male Male
Risk Class Rate Table Class Yrs 1-15 Yrs 16-30 Yrs 31+ Yrs 1-15 Yrs 16-30 Yrs 31+
Elite+ NS Elite Nonsmoker 66.4% 54.6% 136.5% 59.6% 58.9% 147.3%
Elite NS Elite Nonsmoker 68.8% 56.3% 140.5% 65.9% 62.7% 156.6%
Pref NS Preferred Nonsmoker 71.2% 53.6% 133.9% 62.4% 55.4% 138.4%
Std NS Standard (Residual) Nonsmoker 61.7% 45.5% 113.6% 64.3% 53.7% 134.3%
Pref SM Preferred Smoker 69.1% 75.9% 189.7% 71.9% 90.2% 225.6%
Std SM Standard (Residual) Smoker 76.1% 77.2% 192.7% 70.8% 84.2% 210.3%
36
For policies with a Reinsurance Basis of First Dollar and Reinsurance Category
------------------------------------------------------------------------------
of UL/Accumulation
------------------
Permanent Fully Underwritten 5-Class - Single Life -$1,000,000 +
Female Female Female Female Female Female Female Female
IA 0-17 IA 18-70 IA 71-80 IA 81-85 IA 0-17 IA 18-70 IA 71-80 IA 81-85
Risk Class Rate Table Class Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 16+ Yrs 16+ Yrs 16+ Yrs 16+
Elite NS Elite Nonsmoker 56.1% 63.6% 76.5% 82.2%
Pref NS Preferred Nonsmoker 59.1% 65.2% 74.4% 69.3%
Std NS Standard (Residual) Nonsmoker 59.3% 68.6% 68.6% 70.5% 60.0% 60.0%
Pref SM Preferred Smoker 77.0% 149.9% 132.7% 176.4%
Std SM Standard (Residual) Smoker 80.3% 162.3% 162.3% 123.1% 184.8% 184.8%
Agg Aggregate 59.3% 70.5%
Male Male Male Male Male Male Male Male
IA 0-17 IA 18-70 IA 71-80 IA 81-85 IA 0-17 IA 18-70 IA 71-80 IA 81-85
Risk Class Rate Table Class Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 16+ Yrs 16+ Yrs 16+ Yrs 16+
Elite NS Elite Nonsmoker 46.2% 50.2% 56.2% 66.9%
Pref NS Preferred Nonsmoker 49.7% 50.2% 54.4% 57.8%
Std NS Standard (Residual) Nonsmoker 46.8% 51.7% 51.7% 48.4% 53.1% 53.1%
Pref SM Preferred Smoker 89.0% 139.0% 133.9% 149.7%
Std SM Standard (Residual) Smoker 80.2% 147.1% 147.1% 115.6% 134.3% 134.3%
Agg Aggregate 46.8% 48.4%
Permanent Fully Underwritten 5-Class - Single Life - $250,000 - $999,999
Female Female Female Female Female Female Female Female
IA 0-17 IA 18-70 IA 71-80 IA 81-85 IA 0-17 IA 18-70 IA 71-80 IA 81-85
Risk Class Rate Table Class Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 16+ Yrs 16+ Yrs 16+ Yrs 16+
Elite NS Elite Nonsmoker 75.1% 85.8% 98.3% 107.0%
Pref NS Preferred Nonsmoker 74.0% 81.1% 97.4% 91.7%
Std NS Standard (Residual) Nonsmoker 75.9% 82.5% 82.5% 93.9% 81.0% 81.0%
Pref SM Preferred Smoker 103.4% 202.3% 171.5% 241.6%
Std SM Standard (Residual) Smoker 108.2% 219.0% 219.0% 159.5% 257.8% 257.8%
Agg Aggregate 75.9% 93.9%
Male Male Male Male Male Male Male Male
IA 0-17 IA 18-70 IA 71-80 IA 81-85 IA 0-17 IA 18-70 IA 71-80 IA 81-85
Risk Class Rate Table Class Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 16+ Yrs 16+ Yrs 16+ Yrs 16+
Elite NS Elite Nonsmoker 60.9% 68.3% 72.8% 87.7%
Pref NS Preferred Nonsmoker 63.4% 68.2% 70.6% 76.1%
Std NS Standard (Residual) Nonsmoker 61.6% 67.9% 67.9% 62.9% 67.2% 67.2%
Pref SM Preferred Smoker 119.8% 189.0% 175.6% 205.4%
Std SM Standard (Residual) Smoker 108.3% 170.9% 170.9% 152.9% 184.7% 184.7%
Agg Aggregate 61.6% 62.9%
Page 17 of 20
Permanent Fully Underwritten 4-Class - Single Life - $100,000 - $249,999
Female Female Female Female Female Female Female Female
IA 0-17 IA 18-70 IA 71-80 IA 81-85 IA 0-17 IA 18-70 IA 71-80 IA 81-85
Risk Class Rate Table Class Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 16+ Yrs 16+ Yrs 16+ Yrs 16+
Pref NS Preferred Nonsmoker 74.0% 81.1% 97.4% 91.7%
Std NS Standard (Residual) Nonsmoker 75.9% 82.5% 82.5% 93.9% 81.0% 81.0%
Pref SM Preferred Smoker 103.4% 202.3% 171.5% 241.6%
Std SM Standard (Residual) Smoker 108.2% 219.0% 219.0% 159.5% 257.8% 257.8%
Agg Aggregate 75.9% 93.9%
Male Male Male Male Male Male Male Male
IA 0-17 IA 18-70 IA 71-80 IA 81-85 IA 0-17 IA 18-70 IA 71-80 IA 81-85
Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 16+ Yrs 16+ Yrs 16+ Yrs 16+
Pref NS Preferred Nonsmoker 63.4% 68.2% 70.6% 76.1%
Std NS Standard (Residual) Nonsmoker 61.6% 67.9% 67.9% 62.9% 67.2% 67.2%
Pref SM Preferred Smoker 119.8% 189.0% 175.6% 205.4%
Std SM Standard (Residual) Smoker 108.3% 170.9% 170.9% 152.9% 184.7% 184.7%
Agg Aggregate 61.6% 62.9%
Permanent Fully Underwritten 2-Class - Single Life - < $100,000
Female Female Female Female Female Female Female Female
IA 0-17 IA 18-70 IA 71-80 IA 81-85 IA 0-17 IA 18-70 IA 71-80 IA 81-85
Risk Class Rate Table Class Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 16+ Yrs 16+ Yrs 16+ Yrs 16+
Std NS Standard (Residual) Nonsmoker 83.4% 95.5% 95.5% 102.7% 93.8% 93.8%
Std SM Standard (Residual) Smoker 113.8% 228.2% 228.2% 166.4% 272.9% 272.9%
Agg Aggregate 83.4% 102.7%
Male Male Male Male Male Male Male Male
IA 0-17 IA 18-70 IA 71-80 IA 81-85 IA 0-17 IA 18-70 IA 71-80 IA 81-85
Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 16+ Yrs 16+ Yrs 16+ Yrs 16+
Std NS Standard (Residual) Nonsmoker 67.8% 77.5% 77.5% 69.1% 77.5% 77.5%
Std SM Standard (Residual) Smoker 121.3% 191.2% 191.2% 169.0% 208.4% 208.4%
Agg Aggregate 67.8% 69.1%
Permanent Fully Underwritten 5-Class - Joint Life - $1,000,000 +
IA 18-70 IA 71-80 IA 81-90 IA 18-70 IA 71-80 IA 81-90
Risk Class Rate Table Class Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 16+ Yrs 16+ Yrs 16+
Elite NS Elite Nonsmoker 59.8% 74.4% 78.1% 75.0%
Pref NS Preferred Nonsmoker 60.6% 69.0% 69.1% 63.9%
Std NS Standard (Residual) Nonsmoker 62.3% 66.9% 66.9% 61.2% 58.4% 58.4%
Pref SM Preferred Smoker 105.1% 180.4% 164.6% 155.1%
Std SM Standard (Residual) Smoker 95.6% 194.8% 194.8% 146.2% 162.8% 162.8%
Page 18 of 20
Permanent Fully Underwritten 5-Class - Joint Life - $250,000 - $999,999
IA 18-70 IA 71-80 IA 81-90 IA 18-70 IA 71-80 IA 81-90
Risk Class Rate Table Class Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 16+ Yrs 16+ Yrs 16+
Elite NS Elite Nonsmoker 61.5% 84.2% 91.4% 93.2%
Pref NS Preferred Nonsmoker 66.7% 78.8% 82.4% 79.7%
Std NS Standard (Residual) Nonsmoker 69.0% 72.7% 72.7% 74.2% 71.7% 71.7%
Pref SM Preferred Smoker 121.2% 219.8% 202.5% 210.6%
Std SM Standard (Residual) Smoker 111.6% 240.4% 240.4% 181.2% 224.9% 224.9%
Page 19 of 20
For policies with a Reinsurance Basis of Excess and Reinsurance Category
------------------------------------------------------------------------
of UL/Accumulation
------------------
Permanent Fully Underwritten 5-Class - Single Life
Female Female Female Female Female Female
IA 0-17 IA 18-80 IA 81-85 IA 0-17 IA 18-80 IA 81-85
Risk Class Rate Table Class Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 16+ Yrs 16+ Yrs 16+
Elite NS Elite Nonsmoker 68.1% 75.2%
Pref NS Preferred Nonsmoker 63.4% 65.4%
Std NS Standard (Residual) Nonsmoker 64.1% 64.1% 60.9% 60.9%
Pref SM Preferred Smoker 81.3% 115.0%
Std SM Standard (Residual) Smoker 85.7% 85.7% 109.7% 109.7%
Agg Aggregate 64.1% 60.9%
Male Male Male Male Male Male
IA 0-17 IA 18-80 IA 81-85 IA 0-17 IA 18-80 IA 81-85
Risk Class Rate Table Class Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 16+ Yrs 16+ Yrs 16+
Elite NS Elite Nonsmoker 58.1% 62.8%
Pref NS Preferred Nonsmoker 56.6% 55.8%
Std NS Standard (Residual) Nonsmoker 57.3% 57.3% 52.1% 52.1%
Pref SM Preferred Smoker 90.9% 123.2%
Std SM Standard (Residual) Smoker 83.2% 83.2% 108.5% 108.5%
Agg Aggregate 57.3% 52.1%
Permanent Fully Underwritten 4-Class - Single Life
Female Female Female Female Female Female
IA 0-17 IA 18-80 IA 81-85 IA 0-17 IA 18-80 IA 81-85
Risk Class Rate Table Class Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 16+ Yrs 16+ Yrs 16+
Pref NS Preferred Nonsmoker 62.1% 64.1%
Std NS Standard (Residual) Nonsmoker 64.0% 64.0% 60.8% 60.8%
Pref SM Preferred Smoker 81.3% 114.9%
Std SM Standard (Residual) Smoker 85.7% 85.7% 109.7% 109.7%
Agg Aggregate 64.0% 60.8%
Male Male Male Male Male Male
IA 0-17 IA 18-80 IA 81-85 IA 0-17 IA 18-80 IA 81-85
Risk Class Rate Table Class Yrs 1-15 Yrs 1-15 Yrs 1-15 Yrs 16+ Yrs 16+ Yrs 16+
Pref NS Preferred Nonsmoker 56.0% 55.2%
Std NS Standard (Residual) Nonsmoker 57.3% 57.3% 52.0% 52.0%
Pref SM Preferred Smoker 90.8% 123.1%
Std SM Standard (Residual) Smoker 83.1% 83.1% 108.4% 108.4%
Agg Aggregate 57.3% 52.0%
Permanent Fully Underwritten 2-Class - Single Life
Female Female Male Male
IA 20-80 IA 20-80 IA 20-80 IA 20-80
Risk Class Rate Table Class Yrs 1-15 Yrs 16+ Yrs 1-15 Yrs 16+
Std NS Standard (Residual) Nonsmoker 62.2% 59.0% 57.3% 52.0%
Std SM Standard (Residual) Smoker 80.5% 103.1% 79.9% 104.1%
Page 20 of 20
XXX, XXXXXXXX
--------------------------------------------------------------------------------
FROM: SCOR Global Life Americas
SENT: Monday, November 25, 2013 1:02 PM
TO: SCOR Global Life Americas
SUBJECT: New Name - SCOR Global Life USA Reinsurance Company
[LOGO OF SCOR Global Life]
November 25, 2013
Dear Valued Client,
As you know, on October 1, SCOR successfully closed the acquisition of 100% of
Generali U.S. Holdings, Inc., the holding company for Generali USA Life
Reassurance Company ("Generali USA"), which then became part of SCOR Global
Life Americas.
We're pleased to inform you that the Delaware Department of Insurance has
approved the name change from Generali USA Life Reassurance Company to SCOR
Global Life USA Reinsurance Company (SGL-USA). The NAIC number (97071) remains
the same. The legal entity names have not changed for SCOR Global Life Americas
Reinsurance Company or SCOR Global Life Reinsurance Company of Texas.
SGL-USA operates under the marketing name of "SCOR Global Life Americas."
However, our new reinsurance and other agreements will begin using the SGL-USA
legal entity name. There is no requirement that documents utilizing the old
Generali USA be amended to reflect the new name. Of course, if there is a
business need for an amendment to an existing agreement, we anticipate adding
appropriate language referencing that circumstance.
As we've communicated previously, since the purchase of SGL-USA was executed
via a stock acquisition, all of its existing treaties will remain in force and
there is no need for novations or other similar activity.
We would like to take this opportunity to thank you once again for your support
during the sale process and the integration into the SCOR organization. Please
do not hesitate to call your account executive or me at any time if you have
questions about these or other matters.
1
Sincerely,
/s/ X.X. Xxxxxxxxx
--------------------------
X.X. Xxxxxxxxx
Head of US Life
Reinsurance
SCOR GLOBAL LIFE USA REINSURANCE COMPANY Tel: (000) 000-0000
00000 Xxxxxxxx Xxxxxx, Xxxxx 000 Fax: (000) 000-0000
Xxxxxxx, XX 00000 XXX.XXXX.XXX/XXXX
-----------------
United States
Ce message, ainsi que les pieces jointes, sont exclusivement destines aux
personnes dont le nom figure ci-dessus. Ils peuvent contenir des informations
confidentielles dont la divulgation est a ce titre rigoureusement interdite.
Dans l'hypothese ou vous auriez recu ce message par erreur, merci de le
supprimer et d'en avertir l'expediteur a l'adresse e-mail ci-dessus.
Diese E-Mail, einschliesslich angehangter Dateien, kann vertrauliche und/oder
rechtlich geschutzte Informationen enthalten. Wenn Sie nicht der beabsichtigte
Empfanger sind oder diese E-Mail irrtumlich erhalten haben, informieren Sie
bitte sofort den Absender per E-Mail und loschen Sie diese E-Mail aus Ihrem
System. Das unerlaubte Kopieren sowie die unbefugte Weitergabe dieser E-Mail
ist nicht gestattet.
*******************************************************************************
********************************************* **********************************
This message, including attachments, is intended for the above-mentioned
addressees only. It may contain confidential information the review,
dissemination or disclosure of which is strictly prohibited. Should you receive
this message in error, please delete it and notify the sender to the e-mail
address indicated above.
2
XXX, XXXXXXXX
--------------------------------------------------------------------------------
FROM: Xxx, Xxxxxxxx
SENT: Wednesday, November 19, 2014 11:23 AM
TO: 'XXXXX Xxxxx'
SUBJECT: Notice for MetLife Insurance Company of Connecticut, MetLife
Investors Insurance
Company, MetLife Investors USA Insurance Company and Exeter
Reassurance
Company, Ltd.
Please be advised that in connection with an internal restructuring effective
on November 14, 2014, MetLife Insurance Company of Connecticut has been
redomiciled from Connecticut to Delaware and renamed MetLife Insurance Company
USA ("MICUSA"). In addition, effective on November 14, 2014, MetLife Investors
Insurance Company (currently domiciled in Missouri), MetLife Investors USA
Insurance Company (currently domiciled in Delaware) and Exeter Reassurance
Company, Ltd. (currently domiciled in Delaware) have been merged with and into
MetLife Insurance Company USA, with MICUSA being the surviving entity in each
of those mergers.
Accordingly, effective as of the effective time of the name change, each
existing reinsurance agreement with MetLife Insurance Company of Connecticut
has continued with the company under the new name of MetLife Insurance Company
USA.
Accordingly, effective as of the effective time of the applicable merger, each
existing reinsurance agreement with MetLife Investors Insurance Company,
MetLife Investors USA Insurance Company and Exeter Reassurance Company, Ltd.
has become a reinsurance agreement with their successor MetLife Insurance
Company USA. MetLife Investors Insurance Company, MetLife Investors USA
Insurance Company and Exeter Reassurance Company, Ltd. no longer exist and all
of their rights and obligations have become, by operation of law, rights and
obligations of MICUSA.
For your information, MetLife Insurance Company USA's Employer ID Number will
remain 00-0000000 and NAIC Company Code is 87726.
Please file this notice in all affected reinsurance agreements.
We look forward to our continuing reinsurance relationship with you.
/s/ Xxxxxx Xxx
--------------------------
Xxxxxx Xxx, FSA, MAAA
Asst. Vice President &
Actuary
MetLife
xxxx0@xxxxxxx.xxx
-----------------
(000)000-0000 (phone)
1
