1
AMENDMENT NO. 5
to the Ven 7, 8, 17, 18
Variable Annuity Reinsurance Agreement Effective July 1, 1995
between
CONNECTICUT GENERAL LIFE INSURANCE COMPANY
(hereinafter referred to as Connecticut General)
and
THE MANUFACTURERS LIFE INSURANCE COMPANY OF NORTH AMERICA
(hereinafter referred to as MNA)
It is agreed by the two companies to amend the Agreement effective July 1, 1998
as follows:
1. ARTICLE V entitled REINSURANCE PREMIUMS shall be amended as follows:
8. ANNUAL RATCHET DEATH BENEFIT (Xxx 0, 0, 00, 00) - Xxxxxxxxx for
new business written on and after July 1, 1998, the reinsurance
premiums for the Annual Ratchet death benefit shall be calculated
as a fund/exposure based charge with the actual death benefit
exposure for annuitants calculated. A table of quarterly
reinsurance rates as identified in Schedule D shall be applied to
the exposure to determine the reinsurance premium. The actual
quarterly premium is then subject to a minimum or maximum
determined as basis points (bps) of Contract Value. Fund based
charges, expressed as an annual rate are shown below:
--------------------------------- --------------------------------------------------------------------------
Reinsurance Issue Age Less than 81, with an Attained Age 0-69.
Coverage (Issue Age Less than 85 for Contracts beginning with 207.)
--------------------------------- --------------------------------------------------------------------------
Minimum Minimum Maximum Maximum
Annual Quarterly Annual Quarterly
--------------------------------- ------------------ ----------------- ------------------ ------------------
July 1, 1998 to June 30, 1999 3.4 bps .000085 10.8 bps .000270
--------------------------------- ------------------ ----------------- ------------------ ------------------
July 1, 1999 to June 30, 2000 4.2 bps .000105 10.8 bps .000270
--------------------------------- ------------------ ----------------- ------------------ ------------------
On and after July 1, 2000 4.8 bps .000120 10.8 bps .000270
--------------------------------- ------------------ ----------------- ------------------ ------------------
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The Manufacturers Life Insurance
Company of North America
Ven 7, 8, 17, 18 Treaty Effective July 1, 1995
Amendment No. 5 Effective July 1, 1998
2
--------------------------------- --------------------------------------------------------------------------
Reinsurance Issue Age Less than 81, with an Attained Age 70+
Coverage (Issue Age Less than 85 for Contracts beginning with 207.)
--------------------------------- ------------------ ----------------- ------------------ ------------------
Minimum Minimum Maximum Maximum
Annual Quarterly Annual Quarterly
--------------------------------- ------------------ ----------------- ------------------ ------------------
July 1, 1998 to June 30, 1999 12.4 bps .000310 25.0 bps .000625
--------------------------------- ------------------ ----------------- ------------------ ------------------
July 1, 1999 to June 30, 2000 13.4 bps .000335 25.0 bps .000625
--------------------------------- ------------------ ----------------- ------------------ ------------------
On and after July 1, 2000 14.4 bps .000360 25.0 bps .000625
--------------------------------- ------------------ ----------------- ------------------ ------------------
9. Effective for new contracts sold on and after July 1, 1998,
should Premium for reinsurance exceed five million dollars
($5,000,000) in any reinsurance contract year, Connecticut
General reserves the right to modify the reinsurance rates set
forth herein. Notwithstanding any other provisions, any change in
reinsurance rates shall be effective on the same date that MNA's
Premium exceeds the limits defined herein. Contracts issued in
the states of Maryland and Oregon with the Annual Ratchet Death
Benefit option shall be excluded from this calculation.
2. Paragraph A of ARTICLE XVIII entitled EFFECTIVE DATE, TERM AND TERMINATION
shall be amended as follows:
A. The effective date of this Agreement is July 1, 1995. This
Agreement is hereby extended for a three year period and shall
remain effective for all annuity contracts subject to this
Agreement written by MNA through June 30, 2001, unless terminated
pursuant to the paragraphs listed below:
3. The attached Schedule B shall be revised and substituted for the
corresponding Schedule B of the agreement.
All other terms and conditions of this Agreement, as amended, shall remain
unchanged and in full force and effect.
In witness whereof, this Amendment is signed in duplicate on the dates indicated
at the home office of each company.
CONNECTICUT GENERAL LIFE THE MANUFACTURERS LIFE INSURANCE
INSURANCE COMPANY COMPANY OF NORTH AMERICA
By: _____________________________ By: ________________________________
Date: ____________________________ Date: ______________________________
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The Manufacturers Life Insurance
Company of North America
Ven 7, 8, 17, 18 Treaty Effective July 1, 1995
Amendment No. 5 Effective July 1, 1998
3
SCHEDULE B
----------
Contracts and Funds Subject to this Reinsurance Agreement
Form Number* Date
------------ ----
VENTURE April 5, 1987
All contracts beginning with FORM NUMBER 207, except; exclude Form 207-VFA-NY;
include FORM VFA-MN; include all certificates beginning with FORM VFA-CERT
All contracts beginning with FORM NUMBER 207, which have FORM ENDORSEMENT.005
attached, except; exclude Form 207-VFA-NY; include contracts issued in Montana
which use FORM ENDORSEMENT.005.94
All contracts beginning with FORM VFA-MN with FORM ENDORSEMENT.005 attached All
certificates beginning with FORM VFA-CERT with FORM ENDORSEMENT.007
Policy Description
------------------
Flexible Purchase Payment Individual Deferred Combination Fixed and Variable
Annuity Contract Non-Participating
*Includes All State Variations, including MRP 20, 21, 22, 23, 25, 26; except as
noted.
Fund Date Fund Description
--------- ----------------
FIXED FUNDS:
May 1, 1995 One Year, Three Year, Six Year
VARIABLE FUNDS:
X.X. Xxxxxx Investment Management Inc.
January 9, 1995 International Growth & Income Trust
Salomon Brothers Asset Management Inc.
May 1, 1998 U.S. Government Securities Trust
February 19, 1993 Strategic Bond Trust
Wellington Management Company
April 23, 1991 Growth & Income Trust
June 18, 1985 Investment Quality Bond Trust
June 18, 1985 Money Market Trust
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The Manufacturers Life Insurance
Company of North America
Ven 7, 8, 17, 18 Treaty Effective July 1, 1995
Amendment No. 5 Effective July 1, 1998
4
SCHEDULE B
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Contracts and Funds Subject to this Reinsurance Agreement (Continued)
Fund Date Fund Description
--------- -----------------
VARIABLE FUNDS:
Fidelity Management Trust Company
June 18, 1985 Equity Trust
August 3, 1989 Conservative Asset Allocation Trust
August 3, 1989 Moderate Asset Allocation Trust
August 3, 1989 Aggressive Asset Allocation Trust
Xxxxxxx International Advisors, L.P.
March 18, 1988 Global Equity Trust
March 18, 1988 Global Government Bond Trust
Founders Asset Management, Inc.
March 4, 1996 International Small Cap Trust
March 4, 1996 Small/Mid Cap Trust
January 1, 1997 Worldwide Growth Trust
January 1, 1997 Balanced Trust
Xxxx Xxxxx Management, Inc.
July 15, 1996 Growth Trust
Manufacturers Adviser Corporation
October 4, 1994 Pacific Rim Emerging Markets Trust
October 4, 1994 Quantitative Equity Trust
April 30, 1987 Real Estate Securities Trust
June 26, 1984 Capital Growth Bond Trust
January 1, 1997 Lifestyle Conservative 280 Trust
January 1, 1997 Lifestyle Moderate 460 Trust
January 1, 1997 Lifestyle Balanced 640 Trust
January 1, 1997 Lifestyle Growth 820 Trust
January 1, 1997 Lifestyle Aggressive 1000 Trust
X. Xxxx Price Associates, Inc.
December 11, 1992 Blue Chip Growth Trust
January 1, 1997 Science & Technology Trust
February 9, 1993 Equity-Income Trust (formerly
Xxxxxxx Sachs Asset Management,
Value Equity Trust
Warburg, Xxxxxx Counsellors, Inc.
January 1, 1997 Emerging Growth Trust
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The Manufacturers Life Insurance
Company of North America
Ven 7, 8, 17, 18 Treaty Effective July 1, 1995
Amendment No. 5 Effective July 1, 1998
5
SCHEDULE B
----------
Contracts and Funds Subject to this Reinsurance Agreement (Continued)
Fund Date Fund Description
--------- ----------------
VARIABLE FUNDS:
Pilgrim Xxxxxx & Associates, Ltd.
January 1, 1997 Pilgrim Xxxxxx Growth Trust
Xxxx Xxxxx-Xxxxxxx International, Inc.
January 1, 1997 International Stock Trust
Xxxxxx Xxxxxxxx & Xxxxxxxx, LLP
January 1, 1997 Value Trust
January 1, 1997 High Yield Trust
Xxxxxxxxx
October 1, 1997 Small Company Value
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The Manufacturers Life Insurance
Company of North America
Ven 7, 8, 17, 18 Treaty Effective July 1, 1995
Amendment No. 5 Effective July 1, 1998
