Amendment Number 1 Effective May 20, 2019
Exhibit 7(d)(i)
Amendment Number 1
Effective May 20, 2019
to the
between
Lincoln Life & Annuity Company of New York
(the “Ceding Company”) and
The Lincoln National Life Insurance Company of Fort Xxxxx, Indiana
(“the Reinsurer”)
RECITALS
| 1. |
The Ceding Company and the Reinsurer entered into a Coinsurance and Modified Coinsurance Reinsurance Agreement as of January 1, 2018 (“the Agreement”).
|
| 2. |
Article 13.09 of this Agreement permits amendments as long as they are made in writing, signed by duly authorized officers of both parties, and approved by the New
York Department of Financial Services.
|
|
3.
|
The Ceding Company and the Reinsurer wish to make such an amendment to reflect products currently covered under the Agreement.
|
|
4.
|
The Ceding Company and the Reinsurer also wish to amend the Agreement to provide for inclusion of Policies issued in the past where a rider that
should be included in the Agreement is added to the Policy after the issue date of the Policy.
|
AGREEMENT
NOWTHEREFORE, in consideration of these promises and the mutual covenants contained herein, the Ceding Company and the Reinsurer agree
to amend the Agreement as follows:
|
1.
|
The Ceding Company and the Reinsurer agree that Schedule A of the Agreement shall be replaced in its entirety with Schedule A attached hereto.
|
|
2.
|
The Ceding Company and the Reinsurer agree that Section 4.01 (a) of Article IV of the Agreement shall be replaced in its entirety with a new
Section 4.01 (a) attached hereto as Exhibit A.
|
|
3.
|
All terms, provisions and conditions of this Agreement will continue unchanged except as specifically revised in this Amendment.
|
In WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their duly authorized representatives.
LINCOLN LIFE & ANNUITY THE LINCOLN NATIONAL
COMPANY OF NEW YORK INSURANCE COMPANY
By: /s/ Xxxx Xxxxxxx By: /s/ Xxxxxxx X. Xxxxxxx
Name: Xxxx Xxxxxxx Name: Xxxxxxx X. Xxxxxxx
Title: VP Title: Assistant Vice President
Date: 7/16/19 Date: 7/16/2019
EXHIBIT A
Section 4.01 (a) Reinsurance Premiums
Reinsurance Premiums. To place new contracts for reinsurance
hereunder, or to continue the reinsurance of contracts already reinsured hereunder, the Ceding Company shall pay the Reinsurer a Reinsurance Premium, for each and every Accounting Period for the duration of this Agreement, on all contracts in force or
to become in force during such Accounting Period under this Agreement, in an amount equal to the Quota Share of deposits actually collected by the Ceding Company, for such then current Accounting Period, on the Reinsured Contracts reinsured hereunder.
The Reinsurance Premiums will also include the Reinsurer’s Quota Share of any mortality and expense or product charges, rider charges, fee sharing revenue, and administration charges as shown in Schedule C. For contracts which are added to this
agreement as a result of riders added after the date of issue, the initial Reinsurance Premium will be equal to the Quota Share of the Ceding Company’s Statutory Reserve at the end of the month in which the covered Rider is added to the contract.
SCHEDULE A - REINSURED CONTRACTS
Effective May 20, 2019
All variable annuity contracts issued by the Ceding Company on or after the Effective Date on the contract forms listed below that include either a guaranteed
minimum death benefit or guaranteed living benefit or includes one or more of the riders listed below, or any variable annuity contracts issued by the Ceding Company prior to the Effective Date on the contract forms listed below that adds one or more
of the guaranteed living benefit riders listed below on or after May 20, 2019 are subject to reinsurance under the terms of this Agreement.
|
Marketing Name
|
Contract and Rider Form
|
Description
|
Ceding Company's Quota Share Percentage
|
Reinsurer's Quota Share Percentage
|
|
American Legacy III® (NY)
|
30070BNYL3 5/03
|
Base Contract
|
10%
|
90%
|
|
American Legacy III® (NY)
|
30070-Legacy III B-Share 9/06
|
Base Contract
|
10%
|
90%
|
|
American Legacy III® (NY)
|
NY28618-A
|
Base Contract
|
10%
|
90%
|
|
American Legacy III ® C-Share (NY)
|
30070BNYC 5/03
|
Base Contract
|
10%
|
90%
|
|
American Legacy III ® C-Share (NY)
|
30070-Legacy III C-Share 9/06
|
Base Contract
|
10%
|
90%
|
|
American Legacy III ® C-Share (NY)
|
30294-NY
|
Base Contract
|
10%
|
90%
|
|
American Legacy III® Shareholder’s Advantage (NY)
|
30070ANY 5/03
|
Base Contract
|
10%
|
90%
|
|
American Legacy® Shareholder’s Advantage – Fee Based (NY)
|
30070ANY 5/03
|
Base Contract
|
10%
|
90%
|
|
American Legacy III ® View (NY)
|
30070BNYL 5/03
|
Base Contract
|
10%
|
90%
|
|
American Legacy III ® View (NY)
|
30070-Legacy III L-Share 9/06
|
Base Contract
|
10%
|
90%
|
|
American Legacy III ® View (NY)
|
30070BNYFA1
|
Base Contract
|
10%
|
90%
|
|
American Legacy Advisory® (NY)
|
30070ANY 5/03
|
Base Contract
|
10%
|
90%
|
|
American Legacy® Design 1 (NY)
|
30070-AL Des 1 NY12/06
|
Base Contract
|
10%
|
90%
|
|
American Legacy® Design 2 (NY)
|
30070-AL Des 2 NY12/06
|
Base Contract
|
10%
|
90%
|
|
American Legacy® Design 3 (NY)
|
30070-AL Des 3 NY12/06
|
Base Contract
|
10%
|
90%
|
|
American Legacy® Fusion (NY)
|
30070-B-NY (2-12)
|
Base Contract
|
10%
|
90%
|
|
American Legacy® Shareholder's Advantage (NY)
|
30070ANYFA1
|
Base Contract
|
10%
|
90%
|
|
American Legacy® Shareholder's Advantage (NY)
|
29530
|
Base Contract
|
10%
|
90%
|
|
American Legacy® Shareholder's Advantage Fee-Based (NY)
|
29295
|
Base Contract
|
10%
|
90%
|
|
American Legacy® Signature 1 (NY)
|
30070BNYL3 5/03
|
Base Contract
|
10%
|
90%
|
|
American Legacy® Signature 2 (NY)
|
30070BNYL3 5/03
|
Base Contract
|
10%
|
90%
|
|
American Legacy® Series L-Share (NY)
|
30070-BNYL 5/03
|
Base Contract
|
10%
|
90%
|
|
American Legacy® Series B-Share (NY)
|
30070-BNYL3 5/03
|
Base Contract
|
10%
|
90%
|
|
American Legacy® Series C-Share (NY)
|
30070-BNYC 5/03
|
Base Contract
|
10%
|
90%
|
|
Lincoln ChoicePlusSM
|
AN426NY
|
Base Contract
|
10%
|
90%
|
|
Lincoln ChoicePlus IISM (NY)
|
30070BNY 5/03
|
Base Contract
|
10%
|
90%
|
|
Lincoln ChoicePlus IISM Access (NY)
|
30070BNYC 5/03
|
Base Contract
|
10%
|
90%
|
|
Lincoln ChoicePlus IISM Advance (NY)
|
30070BNYL 5/03
|
Base Contract
|
10%
|
90%
|
|
Lincoln ChoicePlus IISM (NY)
|
30070BNYMVA3
|
Base Contract
|
10%
|
90%
|
|
Lincoln ChoicePlus IISM Access (NY)
|
30070BNYMVA3
|
Base Contract
|
10%
|
90%
|
|
Lincoln ChoicePlus IISM Advance (NY)
|
30070BNYMVA3
|
Base Contract
|
10%
|
90%
|
|
Lincoln ChoicePlusSM Access
|
30296-NY
|
Base Contract
|
10%
|
90%
|
|
Lincoln ChoicePlus Assurance℠ A-Share (NY)
|
30070ANY 5/03
|
Base Contract
|
10%
|
90%
|
|
Lincoln ChoicePlus Assurance℠ A-Share (NY)
|
CDNYCPA3A 1/07
|
Base Contract
|
10%
|
90%
|
|
Lincoln ChoicePlus Assurance℠ A-Share – Fee Based (NY)
|
30070ANY 5/03
|
Base Contract
|
10%
|
90%
|
|
Lincoln ChoicePlus Assurance℠ A-Share – Fee Based (NY)
|
CDNYCPA3A FEE 1/07
|
Base Contract
|
10%
|
90%
|
|
Lincoln ChoicePlus AssuranceSM B-Share (NY)
|
30070BNYA 5/03
|
Base Contract
|
10%
|
90%
|
|
Lincoln ChoicePlus AssuranceSM C-Share (NY)
|
30070BNYC 5/03
|
Base Contract
|
10%
|
90%
|
|
Lincoln ChoicePlus AssuranceSM L-Share (NY)
|
30070BNYL 5/03
|
Base Contract
|
10%
|
90%
|
|
Lincoln ChoicePlus℠ Advisory (NY)
|
30070ANY 5/03
|
Base Contract
|
10%
|
90%
|
|
Lincoln ChoicePlus℠ Design 1 (NY)
|
30070-CP Des 1 NY12/06
|
Base Contract
|
10%
|
90%
|
|
Lincoln ChoicePlus℠ Design 2 (NY)
|
30070-CP Des 2 NY12/06
|
Base Contract
|
10%
|
90%
|
|
Lincoln ChoicePlus℠ Design 3 (NY)
|
30070-CP Des 3 NY12/06
|
Base Contract
|
10%
|
90%
|
|
Lincoln ChoicePlus℠ Fusion (NY)
|
30070-B-NY (2-12)
|
Base Contract
|
10%
|
90%
|
|
Lincoln ChoicePlus℠ Signature 1 (NY)
|
30070BNYL3 5/03
|
Base Contract
|
10%
|
90%
|
|
Lincoln ChoicePlus℠ Signature 2 (NY)
|
30070BNYL3 5/03
|
Base Contract
|
10%
|
90%
|
|
Lincoln ChoicePlus Assurance℠ Series L-Share (NY)
|
30070-BNYL 5/03
|
Base Contract
|
10%
|
90%
|
|
Lincoln ChoicePlus Assurance℠ Series B-Share (NY)
|
30070BNYA 5/03
|
Base Contract
|
10%
|
90%
|
|
Lincoln ChoicePlus Assurance℠ Series C-Share (NY)
|
30070-BNYC 5/03
|
Base Contract
|
10%
|
90%
|
|
Lincoln ChoicePlus Assurance℠ Prime (NY)
|
30070BNYA 5/03
|
Base Contract
|
10%
|
90%
|
|
Lincoln Investor Advantage® B-Share (NY)
|
30070-B-NY (5-14)
|
Base Contract
|
10%
|
90%
|
|
Lincoln Investor Advantage® C-Share (NY)
|
30070-B-NYC (5-14)
|
Base Contract
|
10%
|
90%
|
|
Lincoln Investor Advantage® Advisory (NY)
|
30070-A-NY (5-14)
|
Base Contract
|
10%
|
90%
|
|
Lincoln Investor Advantage® Fee Based (NY)
|
30070-A-NY (5-14)
|
Base Contract
|
10%
|
90%
|
|
Lincoln Core IncomeSM, built with iShares (NY)
|
30070ANY 5/03
|
Base Contract
|
10%
|
90%
|
|
Core Income Benefit
|
AR-592 (12/16)
|
Living Benefit Rider (LBR)
|
10%
|
90%
|
|
Lincoln Lifetime IncomeSM Advantage
2.0 (Managed Risk)
|
AR-529 PF (3-13)
|
Optional LBR
|
10%
|
90%
|
|
Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk)
|
AR-607
|
Optional LBR
|
10%
|
90%
|
|
Lincoln Market Select® Advantage
|
AR-529 OA (3-13)
|
Optional LBR
|
10%
|
90%
|
|
Lincoln Market Select® Advantage
|
AR-607
|
Optional LBR
|
10%
|
90%
|
|
Lincoln Max 6 SelectSM Advantage
|
AR-600
|
Optional LBR
|
10%
|
90%
|
|
i4LIFE® Advantage Guaranteed Income Benefit
(Managed Risk)
|
AR-528 PF (3-13)
|
Optional LBR
|
10%
|
90%
|
|
i4LIFE® Advantage Select Guaranteed Income
Benefit
|
AR-528 OA (3-13)
|
Optional LBR
|
10%
|
90%
|
|
i4LIFE® Advantage *
|
I4LA-Q(8-10)
|
Optional LBR for qualified funds
|
10%
|
90%
|
|
i4LIFE® Advantage *
|
I4LA-NQ(8-10)
|
Optional LBR for non-qualified funds
|
10%
|
90%
|
|
4LATER® Select Advantage
|
AR-547 (3-12)
|
Optional LBR
|
10%
|
90%
|
|
4LATER® Select Advantage
|
AR-547 (07/18)
|
Optional LBR
|
10%
|
90%
|
|
Guarantee of Principal Death Benefit
|
32148 9/16
|
Tiered GOP rider
|
10%
|
90%
|
|
Guarantee of Principal Death Benefit
|
32148 5/03
|
Optional Death Benefit Rider
|
10%
|
90%
|
|
Enhanced Guaranteed Minimum Death Benefit
|
32149-NY
|
Optional Death Benefit Rider
|
10%
|
90%
|
|
Highest Anniversary Death Benefit
|
AR-593
|
Optional Death Benefit Rider
|
10%
|
90%
|
*Contracts with i4LIFE® Advantage are reinsured only if a covered death benefit is also included on the contract.
