THIS REINSURANCE AGREEMENT
Is made between
National Life Insurance Company
(hereinafter referred to as "the Company")
and
of
Executive Offices:
(hereinafter referred to as "the Reinsurer")
The following Articles, qualified by the
Exhibits of the Agreement, will form the basis of the Agreement.
THIS AGREEMENT MAY BE REFERRED TO AS AGREEMENT NO.
TABLE OF CONTENTS
ARTICLES
I Business Covered - Forms, Manuals and Issue Rules
II Automatic Coverage - Facultative Coverage
III Reinsurance Basis - reinsurance Premiums - Currency
IV Mode of Cession - Data Notification
V Premium Accounting
VI Coversions - Policy changes - Lapses - Reinstatements - Minimum Cession
VII Increase in Retention - Recapture
VIII Liability
IX Claims
X Oversights - Arbitration
XI Insolvency
XII DAC Tax - Taxes and Expenses
XIII Alterations to Agreement - Parties to Agreement - Good Faith
XIV Duration of Agreement - Severability - benefit - Construction
EXHIBITS
A-I Business Covered
A-II Underwriting Forms and Issue Rules - Conditioned Receipt Amount
B Application for Reinsurance
C Premium Rates and General Terms, Administration Instructions
D The Ceding Company's Retention Limits
E The Reinsurer's Acceptance Limits
F Reinsurance Reports
G DAC Tax Election
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ARTICLE I
BUSINESS
COVERED This Agreement applies to all insurance policies and
supplementary benefits and riders attached thereto, as set out
in Exhibit A-1 and which are accepted by the Company in
accordance with the underwriting evidence and issue rules
referenced in Exhibit A-11. These policies, benefits and
riders will be issued by the Company at the rates shown in the
rate manual and will provide the coverage shown in the policy
forms supplied to the Reinsurer and in force at the date of
this Agreement.
The Company agrees to cede to the Reinsurer and the Reinsurer
agrees to accept automatically, in accordance with the terms
of this Agreement, amounts of the above life insurance and
benefits that exceed the Company's retention. The Company's
retention limits are set out in Exhibit D.
The amounts retained by the Company on the business covered by
this Agreement shall not be reinsured elsewhere by the Company
on any basis whatsovever without the prior consent of the
Reinsurer.
This Agreement is applicable only to reinsurance of policies
directly written by the Company, including any LSW policies
reinsured by the Company. Any policies acquired by the Company
through merger of another company, reinsurance, or purchase of
another company's policies are not included under the terms of
this Agreement. However, reinsurance of such policies may be
arranged by written agreement between the Company and the
Reinsurer.
FORMS
MANUALS
ISSUE RULES The Company shall provide full disclosure of all material
facts regarding the policies and benefits covered by this
Agreement. The forms, manuals and issue rules the Company
shall file with the Reinsurer include but are not limited to
the copies of the policy forms, rate manuals, retention
schedules, application forms, receipts, underwriting
requirements (inspection limits, non-smoking criteria,
financial questionnaires, smoking questionnaires etc.) and
authorization forms for release of medical information.
The underwriting evidence and issue rules to be filed with the
Reinsurer are also listed in Exhibit A-II. The company hereby
declares that its forms are in accordance with current M.I.B.
regulations.
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If new material is published, or changes are made in the
material already filed, the Company agrees to promptly provide
the Reinsurer with copies of such material.
The company agrees that all policies and benefits covered
under this Agreement shall be issued in accordance with the
Company's normal underwriting rules for each such policy
and/or benefit and which are in use as at the effective date
of this Agreement. These rules shall be provided to the
Reinsurer on request and any material change in these rules
shall be subject to the approval of the Reinsurer before being
applied to policies and benefits to be covered by this
Agreement.
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ARTICLE II
AUTOMATIC
COVERAGE Except as provided below for facultative coverage, whenever
the Company retains its full retentions, in accordance with
the limits as set out in Exhibit D on any one life, taking
into account the age and mortality rating as at the time of
underwriting the Company shall cede to the Reinsurer all the
excess amounts of a policy and benefits covered by this
Agreement on the life in question up to the Automatic
Acceptance Limits specified in Exhibit E.
It is understood that the amount retained by the Company shall
include its retention under any in force policies.
FACULTATIVE
COVERAGE If the Company receives an application that meets any of the
criteria below, the reinsurance shall be on a facultative
basis:
(a) the amount applied for exceeds the Company's retention
and the Automatic Acceptance limits set out in Exhibit
E;
(b) the total of the new reinsurance required and the amount
already reinsured on that life under this Agreement and
all other Agreements betwe4en the Reinsurer and the
Company, esceeds the Automatic Acceptance Limits set out
in Exhibit E;
(c) the application is on a life for which the Company
intends to retain less than its full retention taking
into account the applicant's age and mortality rating;
(d) the amount applied for and the amount already in force
on the same life exceeds the jumbo limit set out in
Exhibit E;
(e) the application is on a life for which an application
had been submitted by the Company on a facultative basis
to the Reinsurer or any other reinsurer, within the last
3 years unless the reason for submitting facultatively
no longer applies.
Any application of a policy on any plan, supplementary
benefits or rider shown in Exhibit A-I may be offered
facultatively.
The relevant terms and conditions of this Agreement shall
apply to those facultative applications that are accepted by
the Reinsurer.
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ARTICLE III
REINSURANCE
BASIS Policies reinsured under this Agreement shall be on the basis
set out in Exhibit C.
REINSURANCE
PREMIUMS The premiums to be paid to the reinsurer by the Company for
reinsurance shall be in accordance with the terms set out
Exhibit C.
CURRENCY All cessions under this Agreement shall be effected in the
currency specified in Exhibit A-1 and the premiums and
liabilities shall be expressed and payable in that currency.
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ARTICLE IV
MODE OF
CESSION AUTOMATIC CESSIONS
For all automatic cessions the Company shall advise the
Reinsurer in the manner described in Exhibit F.
The Company agrees to send copies of the application,
underwriting papers and other papers for an automatic cession
on any life upon the request from the Reinsurer.
FACULTATIVE CESSIONS
The Company may apply for reinsurance by sending to the
Reisnsurer, copies of all pertinent papers, including the
original application, medical examination, inspection reports,
physician's statements, urinalyses, and all other information
which the Company may have relating to the insurability of the
risk along with an Application for reinsurance, a sample of
which is attached as Exhibit B.
After consideration of the reinsurance application and papers,
the Reinsurer shall promptly inform the Company of its
underwriting decision is acceptable to the Company and the
Company's policy is subsequently placed in force in accordance
with the placement rules set out in Exhibit A-11, the Company
shall advise the Reinsurer.
DATA
NOTIFICATION For all business reinsured under the Agreement, the Company
shall self-administer reinsurance transactions in a format in
substantial accordance with the Society of Actuaries
Guidelines. The Company shall provide the Reinsurer with the
reports as set out in Exhibit F. The Company, upon request,
will provide the Reinsurer with any other information related
to the business reinsured under this Agreement and which the
Reinsurer requires in order to complete its financial
statements.
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ARTICLE V
PREMIUM
ACCOUNTING REPORTING
The Company undertakes to send to the Reinsurer, during each
accounting period, a report as set out in Exhibit F showing
all first year and renewal premiums which became due during
the previous accounting period. Also included will any
adjustments made necessary by changes in reinsurance effective
during the previous period, or changes due to any corrections
to a previous report.
The balance due shall then become payable. If the balance so
calculated is due to the Reinsurer, the Company shall forward
a remittance in settlement with the report. If the balance is
due to the Company, the reinsurer shall forward a remittance
in the Company, the Reinsurer shall forward a remittance in
settlement within fifteen (15) days of receipt of the report.
Interest may be charged on overdue premiums.
NON-PAYMENT OF PREMIUMS
The Reinsurer may terminate its liability for any reinsurance
for which the reinsurance premiums have not been paid within
sixty (60) days after billing, by giving fifteen (15) days
written notice by registered mail of such action to the
Company.
The Reinsurer's right to terminate reinsurance for non-payment
of premium shall not prejudice its right to collect premiums
for the period the reinsurance was in force.
During the period premiums are austanding, the Reinsurer may
offset the amount of any premiums in arrears against amounts
owed to the Company.
The Company shall not force termination under the provisions
of this paragraph solely to avoid the recapture requirements
or to transfer to another reinsurer the block of business
reinsured under this Agreement.
UNEARNED PREMIUM
The Company shall take credit, without interest, for any
unearned premiums, net of commissions or allowances, arising
due to reductions or cancellations or death claims, in its
account. The Company shall pay the balance of arrears of
premiums of premiums due under a reinstated cession. In the
event of termination, lapse or death claim, unearned premiums,
net of allowances and policy fees, will be refunded.
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ARTICLE VI
CONVERSIONS
In the event of the conversion of a policy reinsured under
this Agreement the policy arising from the conversion shall be
reinsured with the Reinsurer. The amount to be reinsured shall
not exceed the amount reinsured as at the date of the
conversion unless mutually agreed otherwise.
If the policy arising from a conversion is on a plan that is:
(a) reinsured on a coinsurance basis with the Reinsurer, the
appropriate premium at the attained age shall be used
and the policy year for the purpose of commission rates
shall be based on the duration of the original policy.
(b) reinsured on a YRT basis with the Reinsurer, the
appropriate YRT rate at the attained age and duration of
the original policy shall be used and any allowance
shall be based on the duration of the original policy.
(c) not covered by any reinsurance agreement with the
Reinsurer, reinsurance shall be on a YRT basis using the
YRT rates specified in Exhibit C, at the attained age
and duration of the original policy.
The above terms shall apply unless specified otherwise in
Exhibit C.
POLICY
CHANGES Changes to policies reinsured under this Agreement shall be
made in accordance with the provisions set out below.
If the change affects the plan, the amount of reinsurance,
premiums or commissions under the cession, the Company shall
inform the Reinsurer in the subsequent Reinsurance Report as
set out in Exhibit F.
PLAN CHANGES
(i) Automatic Cessions:
Whenever the plan of insurance on any policy reinsured
hereunder is being changed, including internal
replacements, and the Company is not obtaining evidence in
accordance with the Company's full new business issue
underwriting rules, the reinsurance shall remain in effect
with the Reinsurer on the following basis:
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(a) the reinsurance rates and the durations shall be based on
hose applicable to the original cessions;
(b) the reinsurance amount at risk shall be determined
according to the terms of this Agreement but in no event
shall be more than the original cession at the time of the
change in plan.
(ii) Facultative Cessions:
Any changes shall be subject to the Reinsurer's approval
only if the Company is obtaining evidence in accordance
with the Company's new business underwriting rules. The
applicable reinsurance terms shall be agreed by the
Company and the Reinsurer.
INCREASE IN AMOUNT AND REUNDERWRITING
(i) Automatic Cessions:
Any reunderwriting, (including any change in mortality
rating), or non-contractual increase in amount at risk for any
cession shall be subject to the company's full new business
underwriting rules or as agreed otherwise with the Reinsurer.
The amount of the increase shall be subject to the terms set
out in Exhibit C.
IF the amount of the policy shall increase above the jumbo
limit (Exhibit E) or if the amount to be reinsured exceeds the
automatic coverage limits, the increase shall be subject to
the Reinsurer's approval.
(ii) Facultative Cessions:
Any underwriting or non-contractural increase, including any
change in mortality rating shall be subject to the Reinsurer's
approval.
REDUCTIONS
If the amount of insurance of a policy issued by the Company is reduced then the
amount of reinsurance on that life shall be reduced effective the same date by
the lesser of the full amount or the reduction under the original policy or the
full amount of the reinsurance, unless the reinsurance is a quota share of the
policy issued by the company, in which case the reduction would be proportional.
The reduction will first apply to any reinsurance on the policy being reduced
and then in a chronological order according to policy date ("fist in, first
out") to any reinsurance on the other
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policies in force on the life. However, the Company shall not
be required to assume a risk for an amount in excess of its
regular retention for the age at issue and the mortality
rating of the policy under which reinsurance is being
terminated.
If the reinsurance for a policy has been placed with more than
one reinsurer, the reduction shall be applied to all
reinsurers in proportion to the amounts originally reinsured
with each reinsurer.
SPECIAL CHANGES
If any special or unusual change, which is not covered above
and which may affect the terms of the cession in question, is
requested, the Reinsure's approval shall be obtained before
such a change becomes effective.
LAPSES When a reinsured policy lapses, the cession in question shall
be cancelled effective the same date. If the Company allows
extended or reduced paid-up insurance following a lapse, the
reinsurance will be appropriately amended. If the Company
allows the policy to remain in force under its automatic
premium loan regulations, the reinsurance shall continue
unchanged and in force as long as such regulations remain in
effect, except as provided for otherwise in this Agreement.
REINSTATEMENTS If a policy reinsured on an automatic basis is reinstated in
accordance with its terms or the rules of the Company,
referenced in Exhibit A-II, the reinsurance shall be
reinstated automatically be the Reinsurer. Notification of the
reinstatement shall be mailed to the office of the Reinsurer
no later than four weeks after the reinstatement of the
original policy.
MININMUM
CESSION The minimum initial amount to be reinsured shall be as set out
in Exhibit C. Reinsurance under this Agreement shall be
cancelled whenever the net amount at risk becomes less than
the Minimum Final Reinsurance Limit set out in Exhibit C.
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ARTICLE VII
INCREASE IN
RETENTION The reinsurance under this Agreement shall be maintained in
force without reduction except as specifically provided for
elsewhere in this Agreement.
The Company may increase its limits of retention on new
business being issued at any time by giving written notice to
the Reinsurer of the new limits of retention and the effective
date of such new retention schedule.
The Company's retention limits are set out in Exhibit D.
RECAPTURE The Company may apply the new limits of retention to existing
reinsurance and reduce reinsurance in force in accordance with
the following rules:
(a) The Company shall give the Reinsurer written notice of its
intention to recapture within 90 days of the effective date of
the increase in its retention.
(b) Such reductions shall be made on the next anniversary of each
cessions affected but no reduction shall be made until such
reinsurance has been in force for the period stated in Exhibit
C. For a conversion policy or re-entry, the recapture terms of
the original policy will apply and the duration for the
recapture period will be measured from the effective date of
the original policy.
(c) A reduction may be made only if the Company retained its full
retention for the plan, age and mortality rating at the time
the policy was issued.
(d) Any class of fully reinsured business or any classes of risks
for which the Company established special retention limits
less than the Company's full retention limits for the plan,
age and mortality rating at the time the policy was issued,
are not eligible for reduction.
(e) A reduction may be made only if the Company has applied its
increase in retention in a consistent manner to all categories
of its normal retention limits.
(f) No reduction shall be made if the Company has either obtained
or increased stop loss reinsurance coverage as justification
for the increase in retention.
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In applying its new retention to existing reinsurance, the
rating at the time of issue and the issue age of the existing
reinsurance shall be used to determine the amount of the
Company's new retention.
Recapture as provided herein shall be optional with the
Company, but if any reinsurance is recaptured, all reinsurance
is eligible for recaptured under the provisions of this
Article must be recaptured. If there is reinsurance in other
companies on risks eligible for recapture, the necessary
reduction is to be applied pro rata to the total outstanding
reinsurance.
The amount of reinsurance eligible for recapture is based on
the reinsurance net amount at risk as of the date of
recapture.
The Reinsurer shall not be liable, after the effective date of
recapture, for any cessions or portions of such cessions
eligible for recapture, which the Company has overlooked. The
Reinsurer shall be liable only for accredit of the premiums
received after the recapture date, less any commission or
allowance and with interest.
If there is a Waiver of Premium (W.P.) claim in effect when
recapture takes place, the W.P. claim shall stay in effect
until the W.P. claim terminates. The Reinsurer shall not be
liable for any other benefits, including the basic life risk,
that are eligible for recapture. All such eligible benefits
shall be recaptured as if there was no W.P. claim.
The terms and conditions for the Company to recapture
reinsurance in force under this Agreement due to the
insolvency of the Reinsurer are set out in the Insovency
clause in Article XI of the Agreement.
If the Company transfers business which is reinsured under
this Agreement, to a successor company then the successor
company has the option to recapture the reinsurance, in
accordance with the recapture criteria outlined is this
Article, only if the successor company has a higher retention
limit than the Company.
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ARTICLE VIII
LIABILITY AUTOMATIC REINSURANCE
The Reinsurer's liability for any policy ceded automatically
under this Agreement shall begin simultaneously with the
Company's contractual liability for the policy reinsured.
FACULTATIVE REINSURANCE
If a policy covered under this Agreement is offered
facultatively to the Reinsurer only, then the Reinsurer's
liability shall begin simultaneously with the Company's
contractual liability for this facultative policy. The amount
of the Reinsurer's liability shall be the lesser of the
Reinsurer's offer, the Conditional Receipt Amount set out in
Exhibit A-II or the Automatic Acceptance Limits set out in
Exhibit E. The Reinsurer's liability ceases if the Reinsurer
declines the risk and duly notifies the Company. The
Reinsurer's liability would also cease if the company declines
the Reinsurer's offer.
If, however, a policy is offered facultatively to any other
Reinsurer, in addition to the Reinsurer, the liability of the
Reinsurer shall commence when the Reinsurer has received
notice from the Company, during the lifetime of the insured,
that the Reinsurer's offer ahs been accepted. The Company
shall have one hundred and twenty (120) days from the date of
the Reinsurer's final offer in which to place the policy with
insured/owner, after which time the Reinsurer's offer shall
expire unless the Reinsurer explicitly states in writing that
the offer is extended for some further period.
The Reinsurer may assume liability for claims arising prior to
the time of notification if it is shown to the satisfaction of
the Reinsurer that the policy would have been reinsured wit
the Reinsurer.
DURATION
The liability of the Reinsurer for all cessions under this
Agreement shall cease at the same time as the liability of the
Company ceases and shall not exceed the Company's contractual
liability under the terms of its policies.
Notwithstanding the foregoing, the Reinsurer may terminate its
liability for any policies for which premium payments are in
arrears, according to the terms set out in Article V of this
Agreement.
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It is understood that the Reinsurer's liability for a claim
shall be based on the reinsured net amount at risk as of the
date the claim is incurred.
CONDITIONAL (OR INTERIM) RECEIPT COVERAGE
The extent of the Reinsures' liability on a per life basis,
for claims admitted by the Reinsurer that have arisen under
the conditional receipt or interim receipt coverage is set out
in Exhibit A-II.
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ARTICLE IX
CLAIMS The Reinsurer shall be liable to the Company for the benefits
reinsured and reinsurance shall not exceed the Company's
contractual liability under the terms of its policies.
However, payment of death claims by the Reinsurer shall be in
on lump sum regardless of the mode of settlement under the
original policy. The reinsurer's proportionate share of
interest paid to the beneficiary, shall be payable in
additions to the death claim settlement.
Copies of all underwriting and claims papers shall be mailed
immediately by the Company to the Reinsurer. The settlement
made by the Company shall be binding on the Reinsurer.
However, for any life:
i) where the total amount of reinsurance ceded to the
Reinsurer is greater than the amount retained by the Company,
and
ii) where the Reinsurer's net amount at risk exceeds
$1,000,000, and
iii) when the claim is a doubtful claim occurring during the
contestable period,
the Company shall consult with consult with the Reinsurer and
attempt to achieve mutual agreement prior to conceding
liability or making settlement to the claimant.
The Company shall provide the Reinsurer with all further
reports and papers required by the Reinsurer for its
consideration of the claim.
Should any claim be settled on a reduced compromise basis, or
should a contested claim be settled for a reduced sum, the
Company and the Reinsurer shall participate in such reductions
in proportion to their respective liabilities under the policy
or policies reinsured.
Likewise shall any special expense for investigative or legal
fees (excluding compensation of salaried employees) be shared.
In the event that the Reinsurer does not deem it advisable to
contest a claim, and pays the Reinsurer's share of the death
benefit, the Reinsurer shall not be liable for any special
expenses incurred by the Company in contesting the claim. The
Company shall advise the Reinsurer of claims it plans to
contest in order for
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this determination to be made.
The Reinsurer shall indemnify the Company for an amount of the
Company's contractual insurance reinsured hereunder. The
liability of the Reinsurer shal commence simultaneously with
that of the Company for all cessions ceded and accepted by the
Reinsurer in accordance with the terms of this Agreement.
The Reinsurer is not liable for extracontractual damages, such
as punitive damages, bad faith damages or other damages which
may arise from the acts or omissions of the Company in its
conduct with its own insured, policyowner, beneficiary or
assignee of the policy or others.
In the event of an increase or reduction in the amount payable
under a policy due to misstatement of age, the proportionate
liabilities hereunder shall be the basis for determining each
party's share of any increase in reduction or settlement of
the claims. The reinsurance shall be rewritten from the
commencement on the basis of the adjusted amounts using
premiums and the amounts at risk at current ages, and proper
adjustement for the difference in reinsurance premiums,
without interest, shall be made.
The Reinsurer shall pay to the Company premiums at the rate
applicable to the original policy approved for a waiver of
premium claim, provided always that the waiver of premium
benefit applicable to such benefits has been reinsured
hereunder.
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ARTICLE X
OVERSIGHTS It is agreed that any unintentional or accidental failure to
comply with the terms of this Agreement which can be shown to
be the result of an oversight, misunderstanding or clerical
error on the part of either party shall not be deemed to be an
abrogation of the Agreement or an invalidation of the
reinsurance. Upon discovery, the error shall be promptly
corrected by both parties being restored to the position they
would have occupied had the oversight, misunderstanding or
clecrical error not occurred. Should it not be possible to
restore both parties to such a position, the party responsible
for the oversight, misunderstanding, or clerical error shall
be responsible for any resulting liabilities and expenses.
This provision shall apply only to oversights,
misunderstandings or clerical errors relating to the
administration of reinsurance covered by this Agreement and
not to the administration of the insurance provided by the
Company to its insured. Any negligent or deliberate acts or
omissions by the Company regarding the insurance provided are
the responsibility of the Company and its liability insurer,
if any, but not that of the Reinsurer. For example, if the
Company decides to perform an alpha index search only on its
applications for amounts over a certain limit, then the
Reinsure shall not be liable for any amounts nor reported for
reinsurance as a result of this practice.
ARBITRATION Any controversy or claim arising out of or relating to this
contract, or the breach thereof, shall be settled by
arbitration and the arbitrators, who shall regard this
Agreement from the standpoint of practical business as well as
the law, are empowered to determine as to the interpretation
of the treaty obligation.
Each party shall appoint one arbitrator and these two
arbitrators shall select a third arbitrator within two weeks
of the appointment of the second. The second arbitrator is to
be selected within two weeks after the notice is provided that
the first arbitrator is selected. Should the two arbitrators
not agree on the choice of the third, then each party shall
name four (4) candidates to serve as the arbitrator.
Beginning with the party who did not initiate arbitration,
each party shall eliminate one candidate from the eight listed
until one candidate remains. If this candidate declines to
serve as the arbitrator, the candidate last eliminated will be
approached to serve. This process shall be repeated until a
candidate has
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agrees to serve as the third arbitrator. All three arbitrators
must be officers of Life Insurance Companies or Life
Reinsurance Companies, excluding however, officers of the two
parties to this Agreement, their affiliates or subsidiaries or
past employees of any of these entities. The place of meeting
of the arbitrators shall be decided by a majority vote of the
arbitrators. The written decision of a majority of the
arbitrators shall be final and binding on both parties and
their respective successors and assigns. All costs of the
arbitration and expenses and fees of the arbitrators shall be
borne equally by the parties, unless otherwise ordered by the
arbitrators.
The arbitrators shall render a decision within four months of
the appointment of the third arbitrator, unless both parties
agree otherwise. In the event no decision is rendered within
four months, new arbitrators shall be selected as above.
Alternatively, if both parties consent, any controversy may be
settled by arbitration in accordance with the rules of the
American Arbitration Association.
Judgement upon the award rendered by the arbitrator(s) may be
entered in any court having jurisdiction thereof.
It is specifically the intent of both parties that these
arbitration provisions shall replace and be in lieu of any
statutory arbitration provision, if the law so permits.
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ARTICLE XI
INSOLVENCY For the purpose of this Agreement, the Company or the
Reinsurer shall be deemed "insolvent" when it:
(a) applies for or consents to the appointment of a
rehabilitator, conservator, liquidator or statutory
successor of its properties or assets; or
(b) makes an assignment for the benefit of its creditors; or
(c) is adjudicated as bankrupt or insolvent; or
(d) files or consents to the filing of a petition in
bankruptcy, seeks reorganization or an arrangement with
creditors or takes advantage of any bankruptcy,
dissolution, liquidation, or similar law or statute; or
(e) becomes the subject of an order to rehabilitate or an
order to liquidate as defined by the insurance code of
the jurisdiction of the domicile of the Company or the
Reinsurer, as the case may be.
In the event of the insolvency of either the Reinsurer or the
Company, any amounts owed by the Company to the Reinsurer and
by the Reinsurer to the Company with respect to this Agreement
shall be set-off and only the balance shall be paid.
The Reinsurer shall be liable only for the amounts reinsured
and shall not be or become liable for any amounts or reserves
to be held by the Company on policies reinsured under this
Agreement.
In the event of the insolvency of the Company, the reinsurance
obligations under this Agreement shall be payable by the
Reinsurer directly to the Company, its liquidator,
rehabilitator, conservator or statutory successor, immediately
upon demand, with reasonable provision for verification on the
basis of the claims allowed against the insolvent company by
any court of competent jurisdiction or by any rehabilitator,
conservator, liquidator or statutory successor having
authority to allow such claims without diminution because of
the insolvency of the company, or because the rehabilitator,
conservator, liquidator or statutory successor has failed to
pay all or a portion of any claims.
It is understood, however, that in the event of such
insolvency, the rehabilitator, conservator, liquidator or
statutory success of
20
the Company shall give written notice of the pendency of a
claim against the Company on the policy reinsured within a
reasonable time after such claim is filed in the insolvency
proceedings, and that during the pendency of such claim the
Reinsurer may investigate such claim and interpose, at its own
expense, in th proceeding where such claim is to be
adjudicated, any defense or defenses which it may deem
available to the Company or its liquidator, rehabilitator,
conservator or statutory successor.
It is further understood that the expense thus incurred by the
Reinsurer shall be chargeable, subject to court approval,
against the Company as part of the expense of conservation or
liquidation to the extent of a proportionate share of the
benefit which may accrue to the Company solely as a result of
the defense undertaken by the Reinsurer. Where two or more
reinsurers are involved in the same claim and a majority in
interest elect to interpose defense to such claim, the expense
shall be apportioned in accordance with the terms of the
reinsurance Agreement as though such expense had been incurred
by the Company.
In the event of the insolvency of the Reinsurer, the Company
may cancel this Agreement for new business by promptly
providing the Reinsurer, its rehabilitator, conservator,
liquidator or statutory successor with written notice of the
cancellation effective that date on which the Reinsurer's
insolvency is established by the authority responsible for
such determination. Any requirement for a notification period
prior to the cancellation of the Agreement would not apply
under such circumstances.
In addition, the Company may provide the Reinsurer, its
rehabilitator, conservator, liquidator or statutory successor
with written notice of its intent to recapture all reinsurance
in force under this Agreement regardless of the duration the
reinsurance has be in force or the amount retained by the
Company on the policies reinsured hereunder. The effective
date of a recapture due to insolvency would be the date on
which the Reinsurer's insolvency is established by the
authority responsible for such determination. Such a recapture
would be subject to the monetary terms specified in Exhibit C.
21
ARTICLE XII
DAC Tax
The Company and the Reinsurer agree to the DAC Tax Election
pursuant to Section 1.848-2(g)(8) of the Income Tax Regulation
under Section 848 of the Internal Revenue Code of 1986, as
amended, whereby:
(a) the party with the net positive consideration for this
Agreement for each taxable year will capitalize
specified policy acquisition expenses with respect to
this Agreement without regard to the general deductions
limitation of Section 848(c)(1); and
(b) both parties agree to exchange information pertaining to
the amount of net consideration under this Agreement
each year to ensure consistency.
The term "net consideration" will refer to either net
consideration as defined in Regulation Section 1.848-2(f) (or
gross amount of premiums and other consideration as defined in
Regulation Section 1.848-3(b), as appropriate).
The method and timing of the exchange of this information is
set out in Exhibit G.
This DAC Tax Election shall be effective for all years for
which this Agreement remains in effect.
The Company and Reinsurer represent and warrant that they are
subject to U.S. taxation under either the provisions of
subchapter L of Chapter 1 or the provision of subpart F of
subchapter N of Chapter 1 of the Internal Revenue Code of
1986, as amended.
TAXATION
AND EXPENSES Apart from any taxes, allowances, commissions, refunds, and
expenses specifically referred to elsewhere in this Agreement,
no commission, allowances, taxes or proportion of any expense
shall be paid by the Reinsurer to the Company in respect of
any cession.
22
ARTICLE XIII
ALTERATIONS
TO AGREEMENT Any alteration to this Agreement shall be null and void unless
attached to the Agreement and signed by both parties.
PARTIES TO
AGREEMENT This is an Agreement solely between the Company and the
Reinsurer. The acceptance of reinsurance hereunder shall not
create any right or legal relation between the Reinsurer and
the insured, beneficiary, or any other party to any policy of
the Company which may be reinsured hereunder.
This Agreement represents the entire agreement between the
Company and the Reinsurer and supersedes, with respect to its
subject matter, any prior oral or written agreements between
the parties.
GOOD FAITH The Company and Reinsurer agree that all matters with respect
to this Agreement require utmost good faith of both parties.
The Reinsurer and the Company shall have the right, at any
reasonable time, to inspect, audit and photocopy, at the
other's offices all records, books and documents relating to
the reinsurance under this Agreement, which the Company or the
Reinsurer shall make fully available immediately upon demand
of the Reinsurer or the Company.
Each party represent and warrants to the other party that it
is solvent on a statutory basis in all states in which it does
business or is licensed. Each party agrees to promptly notify
the other if it is subsequently financially impaired. The
Reinsurer has entered into this Agreement in reliance upon the
Company's representations and warranties. The Company affirms
that it has and will continue to disclose all matters material
to this Agreement and each cession. Examples of such matters
are a change in underwriting or issue practices or philosophy,
a change in underwriting management personnel, or a change in
the Company's ownership or control.
23
ARTICLE XIV
DURATION OF
AGREEMENT This Agreement is effective as of the effective date set out
in Exhibit A-1 and is unlimited as to its duration. It may be
terminated for further new reinsurance on all or certain
policies specified in Exhibit A-1 by either party giving at
least ninety (90) days notice to that effect by registered
letter to the other party. During the period of such ninety
(90) days the Reinsurer shall continue to accept new
reinsurance under the terms of this Agreement. This
notification period would be waived in the event the Reinsurer
is deemed insolvent. Further, the Reinsurer remains liable for
all cessions existing at the date of the expiration set forth
in the notice until their natural expiration, unless the
parties mutually decide otherwise or as specified otherwise in
this Agreement.
SEVERABILITY In the event that any of the provisions of this Agreement
contained shall be invalid or unenforceable, such declaration
or adjudication shall in no manner affect or impair the
validity or the enforceability of the other and remaining
provisions of this Agreement and such other and remaining
provisions shall remain in full force and effect as though
such invalid or unenforceable provisions or clauses had not
been included or made a part of this Agreement.
BENEFIT Except as otherwise provided, this Agreement shall be binding
upon the parties hereto and their respective successors and
assigns.
CONSTRUCTION This Agreement shall be construed and administered in
accordance with the laws of the State of Vermont and the
rights and obligations of this Agreement shall, at all times,
be regulated under the laws of the State of Vermont.
24
Made in duplicate and executed by both parties.
Signed for and on behalf of National Life Insurance Company
/s/ Xxxxx Xxxxx /s/ Xxxxxxx Xxxxxxxxxx
Montpelier, this 11th day of August, 1998
Signed for and on behalf of
____________________, this 30th day of June, 1998
Prepared by
25
EXHIBIT A-1
BUSINESS COVERED
EFFECTIVE DATE:
September 1, 1997. The commencement dates for specific business are shown below.
BUSINESS COVERED:
The policies on the plans shown below with policy issue dates falling in the
period that begins with the Commencement Date and ends with the Termination Date
are covered subject to any limitations shown below or elsewhere in this
Agreement.
Riders and supplementary benefits shall also be covered in accordance with the
Limitations, Commencement Dates and Termination Date of the base policy to which
they are attached unless stated otherwise.
The policies, riders and supplementary benefits are on lives resident in the
United States. Reinsurance will also apply to policies which are on Non-US
residents. This coverage is limited to countries where the Company writes
business.
The Reinsurer shall not participate in policy loans not be liable for any
dividend payments.
CURRENCY: US $
LIMITATIONS:
1. For policies on lives with surnames commencing with the letters A to Z
inclusive, and qualifying for automatic coverage, twenty-five (25%) of the
excess over the Company's retention up to the limits specified in Exhibit
E, will be reinsured with the Reinsurer. (Any application may be offered
on a facultative basis.)
26
EXHIBIT A-1
Page 2
PLANS, RIDERS AND BENEFITS:
Plan(s) and Exhibit Commencement Termination
Form No(s). Reference Limitations Date
Date
----------- ----------- --------- ----------- ----
JLLS C, C-II No. 1 above September 1, 1997
Individual C, C-I No. 1 above September 1, 1997
permanent
plans
Joint Life C, C-I No. 1 above September 1, 1997
First to Die
Survivorship C, C-III No. 1 above September 1, 1997
Universal Life and
Survivorship
Variable Universal
Life
All above listed C, C-I No. 1 above September 1, 1997
plans issued under
Table 4 program
27
EXHIBIT A-1
Page 3
RIDERS
All individual riders, attached to the original plan, as issued by the Company.
Accelerated Benefits Rider
Additions Rider
Annual Premium Addition Riders (APAR)
Beneficiary Insurance Option Rider
C-SPAR (Commissionable Single Premium Adds Rider)
COL (Cost of Living Rider)
Exchange to a New Insured Rider
Flex Term Rider
Policy Continuation Rider
Survivorship Purchase Option/Designated Second Life Rider
Additional Protection Benefit (APB)
Policy Split Option (PSO)
Estate Preservation Rider (EPR)
Continuing Coverage Rider (CCR)
Enhanced Death Benefit Rider (EDBR)
Automatic Increase Rider (AIR)
All above listed riders issued under the Table 4 program
BENEFITS
N/A
28
EXHIBIT A-11
COMPANY'S UNDERWRITING FORMS AND
EVIDENCE AND ISSUE RULES
The following information and items are to be provided to the Reinsurer:
1.Policy Application Form and Part II
2.Conditional Receipt and/or Temporary Receipt Forms
3.Policy Delivery Rules and Reinstatement Rules
4.Non-medical and Medical Requirements
0.Xxxxxxxxx and Non-smoking Questionnaires
6.Preferred Underwriting Guidelines, if applicable
CONDITIONAL RECEIPT AMOUNT
The amount of coverage provided by the Reinsurer under a Conditional Receipt
shall not exceed the lesser of:
(a) The Reinsurer's share of $250,000 or for a Conditional Receipt or $
1,000,000 for a Temporary Insurance Agreement, or
(b) The Automatic Acceptance Limits or
(c) The Reinsurer's share of the difference calculated by taking the
amount of insurance provided by the Conditional Report or Interim
Receipt and subtracting the Company's maximum retention had the life
in question been underwritten as standard. The Company's retention
shall include and net amounts retained under previous issues on the
life.
29
EXHIBIT C
Page 2
GENERAL TERMS
1.REINSURANCE BASIS: Yearly Renewable Term
2.RATE CITERIA: The rates set out in the sub-section(s) of Exhibit C shall be
used for automatic reinsurance of any policy covered by this Agreement. These
rates also apply to the reinsurance of a facultative policy covered by this
Agreement provided the Company retains:
(i)the appropriate quota share or at least 25% of the policy to be reinsured, or
(ii)the Company's maximum retention then available for the issue age and rating
applicable to the policy to be reinsured.
All policies not meeting the above requirements shall be reinsured using of the
current rates for the entire cession as set out in each of the sub sections of
Exhibit C.
3.RATE LIMIT: The rates set out in the sub-section(s) of Exhibit C will aplly to
all reinsurances, provided the total of the enw reinsurance amount and the
amount already reinsured on the life under this Agreement, and all other
Agreements with the Reinsurer, does not exceed the amount shown in the table
below. Individual Consideration will be given to the rates for any amounts and
ages over the limit shown in the table below.
Individual and Joint Life
Issue Age Standard (100%) - Table 4 (200%
0 - 75 $ 15,000,000
BIO
Issue Age Std. (100%) - 250% 251% - 400% 401% - 500%
--------- ------------------ ----------- -----------
0 - 65 $ 1,500,000 $ 1,500,000 $450,000
66 - 75 1,500,000 $450,000 0
76 - 85 450,000* 0 0
o Standard (100%) only
4.AGE BASIS: Nearest
5.PREMIUM TAX: There shall be no separate reimbursement of Premium Tax.
30
EXHIBIT C
Page 2
6. RATE GUARANTEE: The reinsurance rates set out in the sub-section(s) of
Exhibit C of this Agreement cannot be guaranteed for more than one year.
The reinsurance rates, however, may not be increased beyond the
appropriate one year term premiums calculated on the 1980 C.S.O.
smoker/non-smoker mortality table at 4.5% interest. The Reinsurer reserves
the right to increase the reinsurance rates if the Company has increased
its rates.
7. MINIMUM INITIAL REINSURANCE LIMIT: $20,000 for Table 4 program and
15,000 for all other plans.
MINIMUM FINAL REINSURANCE LIMIT: $ 5,000 for Universal Life type plans
and
$10,000 for all other plans.
8.RATES APPLICABLE TO INCREASES: First year reinsurance premium rates and
commissions/allowances shall apply to the amount of a non-contractual increase.
9.YRT RATES FOR CONVERSIONS: The policy arising from the conversion shall
continue on the same set of YRT rates as used for the original cession.
It is understood that for policies issued under the Company's Competitive
Underwriting Program and which convert from a term plan in Agreement No. to a
permanent plan under this Agreement, the policy arising from the conversion
shall be reinsured under the current terms and conditions for the permanent plan
and the amount to be reinsured shall continue in a like proportion to the amount
ceded to the Reinsurer at issue.
It is further agreed that for conversions of a term plan in Agreement No. to a
permanent plan under this Agreement, the Company shall recapture the policy upon
conversion and reinsure one hundred percent (100%) of the excess over the
Company's full $ 3 million retention under the current terms and conditions for
the permanent plans in the above agreement. It is understood that twenty-seven
and a half percent (27.5%) of the excess shall be reinsured with the Reinsurer.
31
EXHIBIT C-1
Page 3
10.RECAPTURE: Due to Increase in the Company's Retention.
Inforce Period: 10 Years*
*Recapture under the Table 4 Program is independent of exercising any recapture
of any other regular issued policies ceded under this treaty. Recapture terms
would be negotiated at the time of recapture, and be agreed to by both parties.
Due to Insolvency of the Reinsurer
Inforce Period: Not Applicable.
The Recapture Fee applicable shall be mutually agreed upon by the Company and
the Reinsurer, its rehabilitator, conservator, liquidator or statutory
successor.
11. TABLE 4 PROGRAM: All policies issued by the Company and found to be
rateable up to and including Table 4 (200%) prior to reinsurance review
can be automatically issued to the Reinsurer at standard rates. The
Company will pay the Reinsurer of the current automatic reinsurance
premium rates for the corresponding plan for any policy eligible under the
Table 4 Program. However, for Joint-Last-to-Die policies issued between
September 1, 1997 and May 1, 1998, the Company will pay the reates for the
corresponding plan under the Table 4 program.
12. NET AMOUNT AT RISK: The net amount at risk shall be the difference between
the gross amount of reinsurance and the csh values of the Company
applicable to the face amount reinsured and subject to the (ten year level
decrement" (if appropriate) method of approximation. However, commuted
values may be used, if applicable, to determine the net amount at risk.
Where the original policy is issued on a term plan for twenty years or
less, reinsurance shall be for the gross amount, and cash values shall be
disregarded.
For Universal Life type plan, if the death benefit is Option A, the amount
at risk will be the difference between the initial amount of reinsurance
and the cash values applicable to the face amount reinsured. If the death
benefit is Option B, the amount at risk will be the initial amount of
reinsurance.
32
EXHIBIT C-1
YRT RATES
NON-EXPERIENCE RATE PREMIUM RATES
1. INSTRUCTIONS FOR ADMINISTRATION OF YRT RATES: The life reinsurance rates
are shown on a per thousand dollar basis and are equivalent to the
following percentages of the attached SOA 75-80 Basic Select & Ultimate
Age Last Aggregate, Sex Distinct tables.
AUTOMATIC AND FACULTATIVE EXCESS
The following percentages apply to all single life plans and joint
firt-to-die plans.
Preferred Non Smoker:
Standard Non Smoker:
Smoker
There shall be no policy fee applicable.
The above percentages apply to automatic and facultative inforce where the
jumbo limit has not bee exceeded. If the jumbo limit is exceeded, the
rates will not be higher than of the automatic rates which will be
determined at the time of facultative underwriting.
COMPETITIVE UNDERWRITING PROGRAM
For all plans issed under the Competitive Underwriting Program, the
reinsurance rates are equal to of the automatic rates. However, for
Joint-Last-to-Die policies with issue dates between September 1, 1997 and
May 1, 1998, the reinsurance rates are of the automatic rates.
TABLE 4 PROGRAM
All policies issued by the Company and found to be rateable up to and
including Table 4 (200%) prior to reinsurance review can be automatically
issued to the Reinsurer at standard rates. The Company will pay the
Reinsurer of the current automatic reinsurance premium rates for the
corresponding plan for any policy eligible under the Table 4 Program.
However, the Joint-Last-to-Die policies issued between September 1, 1997
and May 1, 1998, the Company will pay the Reinsurer of the current
automatic reinsurance premium rates for the corresponding plan under the
Table 4 program.
33
EXHIBIT C-1
Page 2
2. MULTIPLE EXTRAS: For substandard risks issued at table ratings, multiply
the above rates by the appropriate mortality factor.
Table Rating Mortality Table Rating Mortality
Factor Factor
------------ --------- ------------ ---------
1 OR A 125% 6 OR F 250%
1.5 AA 137% 7 G 275%
2 B 150% 8 H 300%
2.5 BB 162% 9 I 325%
3 C 175% 10 J 350%
4 D 200% 12 L 400%
5 E 225% 16 P 500%
3. FLAT EXTRAS: On all cessions the due proportion of any extra premiums payable
on account of additional mortality risk shall be payable to the Reinsurer.
4. ALLOWANCES ON FLAT EXTRAS:
When a flat extra is payable for 5 years or less, an allowance of of the gross
flat extra charged by the company will be made each year. When a flat extra
premium is payable for more than 5 years, an allowance of of the gross flat
extra will be charged by the Company will be made in the first year and an
allowance of in each year thereafter.
5. It is understood that permanent substandard extra premiums will terminate at
the end of 20 years or age 65, whichever is later.
34
Society of Actuaries 1975-1980 Table*
*Rates are Extended for Ages 71 - 85
Male Aggregate
Age Nearest Basis
PER $1,000 PER $1,000
ISSUE DURATION ATTAINED
AGE 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16+ AGE
0 1.23 0.74 0.48 0.38 0.34 0.33 0.29 0.27 0.27 0.27 0.25 0.28 0.31 0.38 0.54 0.68 15
1 0.49 0.47 0.42 0.36 0.28 0.23 0.22 0.22 0.24 0.24 0.27 0.30 0.38 0.54 0.68 1.01 16
2 0.35 0.37 0.33 0.28 0.23 0.22 0.21 0.24 0.24 0.27 0.30 0.37 0.54 0.68 1.01 1.14 17
3 0.35 0.29 0.25 0.23 0.22 0.20 0.22 0.24 0.27 0.30 0.37 0.53 0.68 1.01 1.14 1.22 18
4 0.29 0.25 0.23 0.22 0.20 0.22 0.24 0.27 0.30 0.36 0.52 0.66 0.99 1.11 1.22 1.31 19
5 0.25 0.23 0.22 0.20 0.22 0.24 0.27 0.30 0.36 0.50 0.66 0.96 1.09 1.16 1.31 1.37 20
6 0.23 0.22 0.20 0.22 0.24 0.27 0.30 0.36 0.50 0.66 0.94 1.07 1.14 1.21 1.37 1.40 21
7 0.19 0.20 0.22 0.24 0.27 0.30 0.36 0.50 0.66 0.87 1.57 1.13 1.19 1.23 1.40 1.41 22
8 0.18 0.21 0.21 0.27 0.29 0.35 0.50 0.66 0.87 1.05 1.13 1.19 1.23 1.30 1.39 1.40 23
9 0.19 0.20 0.24 0.29 0.35 0.50 0.66 0.87 1.05 1.13 1.19 1.23 1.30 1.35 1.36 1.38 24
10 0.18 0.22 0.27 0.35 0.50 0.66 0.87 1.05 1.13 1.19 1.23 1.30 1.35 1.36 1.32 1.34 25
11 0.20 0.25 0.34 0.50 0.66 0.87 1.05 1.13 1.19 1.23 1.30 1.35 1.36 1.30 1.27 1.29 26
12 0.23 0.32 0.50 0.66 0.87 1.05 1.13 1.19 1.23 1.30 1.35 1.36 1.30 1.25 1.20 1.24 27
13 0.30 0.46 0.63 0.87 1.05 1.12 1.19 1.22 1.24 1.28 1.31 1.30 1.25 1.20 1.16 1.20 28
14 0.44 0.59 0.87 1.05 1.12 1.17 1.22 1.23 1.23 1.24 1.26 1.25 1.19 1.16 1.13 1.17 29
15 0.58 0.87 1.05 1.12 1.17 1.21 1.23 1.22 1.20 1.20 1.19 1.18 1.13 1.12 1.11 1.14 30
16 0.87 1.05 1.12 1.17 1.21 1.20 1.21 1.19 1.16 1.14 1.12 1.12 1.09 1.09 1.09 1.12 31
17 1.05 1.12 1.17 1.21 1.20 1.18 1.18 1.15 1.11 1.07 1.05 1.06 1.05 1.06 1.08 1.11 32
18 1.03 1.10 1.13 1.15 1.14 1.11 1.11 1.07 1.04 1.01 1.00 1.02 1.01 1.03 1.07 1.12 33
19 1.00 1.05 1.06 1.07 1.05 1.04 1.02 0.98 0.96 0.95 0.97 0.97 0.98 1.01 1.07 1.14 34
20 0.93 0.97 0.97 0.97 0.97 0.95 0.93 0.90 0.90 0.91 0.93 0.94 0.96 1.01 1.08 1.17 35
21 0.84 0.87 0.87 0.87 0.87 0.87 0.86 0.85 0.83 0.85 0.86 0.90 0.92 0.96 1.02 1.11 36
22 0.73 0.76 0.76 0.76 0.77 0.77 0.77 0.77 0.80 0.83 0.88 0.91 0.96 1.04 1.15 1.28 37
23 0.73 0.76 0.75 0.75 0.75 0.76 0.77 0.77 0.80 0.84 0.90 0.94 1.00 1.10 1.21 1.36 38
24 0.73 0.74 0.73 0.73 0.74 0.76 0.77 0.78 0.82 0.87 0.93 0.97 1.05 1.17 1.29 1.45 39
35
Society of Actuaries 1975-1980 Table*
*Rates are Extended for Ages 71 - 85
Male Aggregate
Age Nearest Basis
PER $1,000 PER $1,000
ISSUE DURATION ATTAINED
AGE 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16+ AGE
25 0.72 0.72 0.72 0.72 0.74 0.76 0.77 0.79 0.84 0.90 0.96 1.03 1.12 1.25 1.38 1.56 40
26 0.70 0.70 0.71 0.72 0.73 0.76 0.78 0.82 0.88 0.95 1.02 1.09 1.20 1.35 1.49 1.70 41
27 0.68 0.68 0.70 0.71 0.73 0.77 0.81 0.86 0.92 1.01 1.08 1.17 1.30 1.47 1.63 1.87 42
28 0.68 0.68 0.71 0.73 0.76 0.81 0.86 0.92 1.00 1.08 1.17 1.28 1.42 1.61 1.81 2.07 43
29 0.65 0.68 0.73 0.76 0.81 0.86 0.92 1.00 1.08 1.17 1.28 1.42 1.58 1.81 2.03 2.31 44
30 0.64 0.68 0.76 0.81 0.86 0.92 1.00 1.08 1.17 1.28 1.42 1.58 1.81 2.03 2.26 2.58 45
31 0.63 0.69 0.79 0.86 0.92 1.00 1.08 1.17 1.28 1.42 1.58 1.81 2.03 2.26 2.53 2.89 46
32 0.63 0.71 0.84 0.92 1.00 1.08 1.17 1.28 1.40 1.58 1.81 2.03 2.26 2.53 2.83 3.24 47
33 0.63 0.72 0.88 0.98 1.08 1.17 1.28 1.40 1.58 1.78 2.01 2.25 2.53 2.83 3.17 3.61 48
34 0.63 0.73 0.93 1.05 1.17 1.28 1.40 1.58 1.78 2.01 2.24 2.53 2.81 3.16 3.54 4.02 49
35 0.63 0.76 0.99 1.14 1.28 1.40 1.58 1.78 2.01 2.24 2.53 2.80 3.13 3.52 3.94 4.45 50
36 0.65 0.79 1.06 1.25 1.40 1.58 1.78 2.01 2.24 2.53 2.80 3.10 3.48 3.91 4.36 4.92 51
37 0.67 0.84 1.15 1.37 1.58 1.78 2.01 2.24 2.53 2.80 3.08 3.43 3.86 4.32 4.82 5.44 52
38 0.70 0.89 1.23 1.47 1.70 1.91 2.16 2.41 2.72 3.04 3.35 3.76 4.25 4.78 5.33 6.00 53
39 0.74 0.95 1.33 1.59 1.83 2.07 2.33 2.60 2.93 3.27 3.64 4.10 4.67 5.28 5.88 6.61 54
40 0.79 1.02 1.45 1.73 2.00 2.23 2.51 2.79 3.13 3.51 3.94 4.47 5.13 5.82 6.48 7.27 55
41 0.85 1.11 1.59 1.90 2.17 2.42 2.70 2.98 3.33 3.75 4.24 4.86 5.62 6.41 7.12 8.01 56
42 0.92 1.22 1.76 2.09 2.37 2.62 2.89 3.18 3.52 3.99 4.57 5.28 6.15 7.05 7.85 8.82 57
43 0.99 1.37 1.92 2.30 2.61 2.88 3.18 3.47 3.83 4.33 4.96 5.71 6.63 7.61 8.50 9.73 58
44 1.08 11.53 2.11 2.52 2.86 3.17 3.47 3.79 4.17 4.70 5.37 6.16 7.16 8.20 9.22 10.75 59
45 1.17 1.72 2.31 2.75 3.13 3.47 3.79 4.14 4.56 5.08 5.80 6.66 7.73 8.85 10.02 11.89 60
46 1.28 1.94 2.51 3.00 3.40 3.78 4.14 4.56 4.91 5.48 6.28 7.19 8.35 9.56 10.89 13.17 61
47 1.39 2.17 2.73 3.25 3.69 4.13 4.56 4.89 5.31 5.93 6.79 7.78 9.03 10.34 11.85 14.57 62
48 1.49 2.27 2.84 3.40 3.90 4.38 4.87 5.28 5.80 6.49 7.53 8.64 9.94 11.30 12.79 16.07 63
49 1.60 2.35 2.95 3.54 4.09 4.62 5.18 5.70 6.33 7.12 8.36 9.60 10.96 12.32 13.75 17.71 64
36
SOCIETY OF ACTUARIES 1975-1980 TABLE*
* RATES ARE EXTENDED FOR AGES 71-85
MALE AGGREGATE
AGE NEAREST BASIS
PER $1000 PER $1000
ISSUE DURATION ATTAINED
AGE 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16+ AGE
50 1.70 2.42 3.04 3.66 4.29 4.87 5.51 6.15 6.93 7.83 9.30 10.69 12.06 13.40 14.77 19.50 65
51 1.80 2.48 3.12 3.77 4.47 5.12 5.86 6.65 7.59 8.61 10.35 11.89 13.24 14.56 15.83 21.47 66
52 1.90 2.52 3.17 3.85 4.65 5.38 6.23 7.20 8.32 9.48 11.51 13.18 14.52 15.80 16.96 23.65 67
53 2.06 2.75 3.46 4.23 5.08 5.90 6.84 7.89 9.11 10.43 12.63 14.52 15.80 16.96 19.16 26.05 68
54 2.23 2.99 3.78 4.64 5.57 6.47 7.52 8.66 9.96 11.44 13.85 15.80 16.96 19.16 21.62 28.69 69
55 2.41 3.23 4.12 5.10 6.11 7.11 8.27 9.50 10.86 12.54 15.17 16.96 19.16 21.62 24.39 31.57 70
56 2.61 3.56 4.51 5.61 6.71 7.83 9.09 10.38 11.83 13.73 16.62 19.16 21.62 24.39 27.47 34.38 71
57 2.82 3.39 4.94 6.18 7.38 8.60 9.96 11.33 12.87 15.03 18.21 21.36 24.39 27.15 30.87 38.00 72
58 2.96 4.13 5.44 6.74 8.10 9.20 10.59 12.05 13.66 15.94 19.22 22.43 25.64 28.58 32.76 41.60 73
59 3.10 4.37 6.00 7.34 8.87 9.62 11.23 12.79 14.47 16.88 20.25 23.49 26.85 29.94 34.70 45.54 74
60 3.23 4.63 6.61 7.97 9.71 10.46 11.89 13.57 15.32 17.85 21.28 24.48 27.97 31.28 36.71 49.90 75
61 3.37 4.89 7.26 8.64 10.46 11.59 12.58 14.38 16.18 18.82 22.26 25.39 29.04 32.61 38.82 54.71 76
62 3.50 5.14 7.97 9.36 11.59 11.83 13.29 15.21 17.05 19.77 23.18 26.21 30.06 33.93 41.03 60.03 77
63 3.89 5.77 8.74 10.48 11.83 13.29 15.21 17.05 20.11 22.42 25.79 28.87 33.14 37.75 44.66 65.85 78
64 4.32 6.47 9.57 11.73 13.29 15.21 17.06 20.11 22.42 25.79 28.69 32.93 36.55 42.02 48.60 72.18 79
65 4.80 7.26 10.50 13.13 15.21 17.05 20.11 22.42 25.79 28.69 32.93 35.12 40.34 46.75 52.83 79.02 80
66 5.32 8.14 11.51 14.69 17.05 20.11 22.42 25.79 28.69 32.93 34.69 38.78 44.51 51.97 57.68 86.36 81
67 5.91 9.12 12.62 16.42 20.11 22.42 25.79 28.69 32.90 34.47 38.42 42.80 49.08 57.66 62.18 94.12 82
68 6.51 10.04 13.89 18.04 22.04 24.54 28.23 31.44 34.47 37.82 42.14 16.91 53.73 62.18 67.77 102.35 83
69 7.17 11.05 15.25 19.76 24.12 26.87 30.94 34.47 37.82 41.49 46.20 51.36 58.72 67.77 73.69 111.41 84
70 7.89 12.14 16.72 21.64 26.41 29.44 33.92 37.82 41.49 45.48 50.57 56.13 64.00 73.69 80.22 121.31 85
71 9.36 14.05 18.72 24.59 28.44 32.26 36.02 40.17 44.75 49.78 55.70 63.53 73.18 79.66 93.41 132.05 86
72 11.02 16.22 21.40 26.45 31.18 35.42 39.51 44.03 48.99 55.27 63.06 72.67 79.10 92.80 105.64 143.63 87
73 12.48 17.22 23.95 29.54 34.22 38.85 43.31 48.20 54.84 62.59 72.16 78.54 92.20 104.98 119.21 156.05 88
74 14.12 20.46 26.81 31.82 37.53 41.86 47.41 54.41 62.12 71.65 77.99 91.59 104.32 118.49 134.20 169.12 89
37
SOCIETY OF ACTUARIES 1975-1980 TABLE*
* RATES ARE EXTENDED FOR AGES 71-85
MALE AGGREGATE
AGE NEAREST BASIS
PER $1000 PER $1000
ISSUE DURATION ATTAINED
AGE 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16+ AGE
75 15.97 22.98 29.41 35.56 41.14 46.62 53.98 61.65 70.62 77.43 90.98 103.66 117.78 132.64 152.21 182.61 90
76 18.05 25.81 32.27 38.98 45.04 51.82 58.83 69.60 76.87 90.36 103.00 117.06 131.86 150.52 167.09 196.52 91
77 20.41 28.97 36.81 43.46 50.09 56.94 67.55 76.32 89.77 102.34 116.34 131.08 148.83 165.26 182.76 210.85 92
78 23.05 32.48 41.09 47.50 55.06 65.50 75.76 89.16 101.68 115.62 130.30 147.13 163.44 180.80 199.25 225.60 93
79 25.98 36.35 45.77 53.65 63.46 75.20 88.56 101.02 114.90 128.74 145.44 161.61 178.83 198.20 216.58 240.77 94
80 29.24 40.59 50.82 61.41 74.64 87.95 100.36 113.47 127.18 142.06 159.78 176.87 197.14 215.45 233.55 256.36 95
81 32.82 45.18 56.29 69.07 81.28 96.40 109.16 124.84 140.37 157.96 174.90 195.04 213.19 231.14 248.67 272.37 96
82 36.71 50.15 63.50 76.43 91.11 104.85 121.72 138.68 156.13 172.94 192.93 210.94 228.73 246.11 264.20 288.80 97
83 41.95 56.82 71.57 85.83 100.54 118.60 136.99 154.31 170.97 190.82 208.68 226.32 243.54 261.48 285.91 305.65 98
84 47.91 64.29 79.23 94.80 113.92 135.30 152.48 169.01 187.66 206.42 223.92 240.98 258.75 281.58 305.65 322.92 99
85 54.59 72.63 89.05 409.24 133.60 150.65 167.04 184.49 203.04 221.51 238.41 256.03 277.25 302.59 322.92 340.61 100
38
SOCIETY OF ACTUARIES 1975-1980 TABLE*
* RATES ARE EXTENDED FOR AGES 71-85
FEMALE AGGREGATE
AGE NEAREST BASIS
PER $1000 PER $1000
ISSUE DURATION ATTAINED
AGE 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16+ AGE
0 0.93 0.34 0.30 0.27 0.24 0.22 0.20 0.18 0.18 0.18 0.19 0.21 0.24 0.27 0.32 0.36 15
1 0.34 0.30 0.27 0.24 0.22 0.20 0.18 0.18 0.18 0.19 0.21 0.24 0.27 0.32 0.36 0.40 16
2 0.28 0.27 0.24 0.22 0.20 0.18 0.18 0.18 0.19 0.21 0.24 0.27 0.32 0.36 0.40 0.44 17
3 0.24 0.24 0.22 0.20 0.18 0.18 0.18 0.19 0.21 0.24 0.27 0.32 0.36 0.40 0.44 0.47 18
4 0.22 0.22 0.20 0.18 0.18 0.18 0.19 0.21 0.24 0.27 0.32 0.36 0.40 0.44 0.47 0.49 19
5 0.20 0.20 0.18 0.18 0.18 0.19 0.21 0.24 0.27 0.32 0.36 0.40 0.44 0.47 0.49 0.51 20
6 0.19 0.18 0.18 0.18 0.19 0.21 0.24 0.27 0.32 0.36 0.40 0.44 0.47 0.49 0.51 0.52 21
7 0.17 0.18 0.18 0.19 0.21 0.24 0.27 0.32 0.36 0.40 0.44 0.47 0.49 0.51 0.52 0.53 22
8 0.16 0.18 0.19 0.21 0.24 0.27 0.32 0.36 0.40 0.44 0.47 0.49 0.51 0.52 0.53 0.53 23
9 0.16 0.19 0.21 0.24 0.27 0.32 0.36 0.40 0.44 0.47 0.49 0.51 0.52 0.53 0.53 0.53 24
10 0.16 0.21 0.24 0.27 0.32 0.36 0.40 0.44 0.47 0.49 0.51 0.52 0.53 0.53 0.53 0.53 25
11 0.17 0.24 0.27 0.32 0.36 0.40 0.44 0.47 0.49 0.51 0.52 0.53 0.53 0.53 0.53 0.53 26
12 0.18 0.27 0.32 0.36 0.40 0.44 0.47 0.49 0.51 0.52 0.53 0.53 0.53 0.53 0.53 0.53 27
13 0.21 0.31 0.35 0.38 0.42 0.45 0.47 0.49 0.52 0.53 0.53 0.53 0.53 0.53 0.53 0.53 28
14 0.25 0.33 0.37 0.40 0.43 0.45 0.47 0.48 0.53 0.53 0.53 0.53 0.53 0.53 0.53 0.54 29
15 0.28 0.35 0.39 0.41 0.43 0.45 0.46 0.48 0.53 0.53 0.53 0.53 0.53 0.53 0.54 0.55 30
16 0.32 0.37 0.39 0.41 0.42 0.43 0.45 0.48 0.46 0.53 0.53 0.53 0.53 0.54 0.55 0.58 31
17 0.36 0.37 0.39 0.40 0.41 0.42 0.43 0.44 0.53 0.53 0.53 0.53 0.54 0.55 0.58 0.61 32
18 0.36 0.37 0.39 0.40 0.41 0.42 0.43 0.44 0.51 0.52 0.53 0.54 0.55 0.58 0.61 0.65 33
19 0.36 0.37 0.39 0.40 0.41 0.42 0.43 0.44 0.50 0.50 0.54 0.55 0.58 0.61 0.65 0.70 34
20 0.35 0.36 0.38 0.39 0.41 0.41 0.43 0.44 0.48 0.50 0.55 0.58 0.61 0.65 0.70 0.77 35
21 0.34 0.36 0.37 0.39 0.40 0.41 0.43 0.44 0.47 0.49 0.58 0.61 0.65 0.70 0.77 0.84 36
22 0.32 0.34 0.36 0.38 0.40 0.41 0.43 0.45 0.46 0.50 0.61 0.65 0.70 0.77 0.84 0.93 37
23 0.32 0.34 0.37 0.39 0.41 0.42 0.45 0.46 0.50 0.55 0.65 0.70 0.77 0.84 0.93 1.03 38
24 0.31 0.34 0.38 0.40 0.42 0.45 0.46 0.50 0.55 0.59 0.70 0.77 0.84 0.93 1.03 1.15 39
39
SOCIETY OF ACTUARIES 1975-1980 TABLE*
* RATES ARE EXTENDED FOR AGES 71-85
FEMALE AGGREGATE
AGE NEAREST BASIS
PER $1000 PER $1000
ISSUE DURATION ATTAINED
AGE 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16+ AGE
25 0.31 0.35 0.39 0.41 0.44 0.46 0.50 0.55 0.59 0.63 0.77 0.84 0.93 1.03 1.15 1.29 40
26 0.30 0.35 0.39 0.43 0.46 0.50 0.55 0.59 0.63 0.69 0.84 0.93 1.03 1.15 1.29 1.45 41
27 0.30 0.35 0.41 0.45 0.50 0.55 0.59 0.63 0.66 0.76 0.93 1.03 1.15 1.29 1.45 1.62 42
28 0.31 0.36 0.42 0.48 0.53 0.59 0.63 0.66 0.76 0.86 1.03 1.15 1.29 1.45 1.62 1.79 43
29 0.32 0.37 0.44 0.51 0.57 0.63 0.66 0.76 0.86 0.97 1.15 1.29 1.45 1.62 1.79 1.96 44
30 0.33 0.39 0.47 0.54 0.62 0.66 0.76 0.86 0.97 1.08 1.29 1.45 1.62 1.79 1.96 2.14 45
31 0.35 0.41 0.50 0.59 0.66 0.76 0.86 0.97 1.08 1.19 1.45 1.62 1.79 1.96 2.14 2.33 46
32 0.38 0.44 0.54 0.65 0.76 0.86 0.97 1.08 1.19 1.31 1.62 1.79 1.96 2.14 2.33 2.52 47
33 0.39 0.46 0.57 0.69 0.82 0.93 1.07 1.19 1.31 1.48 1.77 1.94 2.12 2.33 2.52 2.72 48
34 0.41 0.49 0.60 0.74 0.88 1.02 1.18 1.31 1.48 1.64 1.92 2.10 2.30 2.51 2.72 2.93 49
35 0.43 0.51 0.63 0.79 0.95 1.12 1.30 1.48 1.64 1.81 2.07 2.27 2.46 2.71 2.92 3.17 50
36 0.45 0.54 0.67 0.85 1.04 1.23 1.43 1.63 1.81 2.00 2.23 2.43 2.64 2.92 3.16 3.43 51
37 0.48 0.58 0.71 0.92 1.13 1.35 1.56 1.77 1.98 2.19 2.39 2.60 2.82 3.15 3.42 3.71 52
38 0.51 0.64 0.80 1.04 1.26 1.49 1.70 1.92 2.14 2.35 2.56 2.78 3.02 3.38 3.66 4.04 53
39 0.55 0.72 0.89 1.16 1.39 1.63 1.85 2.08 2.30 2.52 2.74 2.98 3.23 3.62 3.94 4.40 54
40 0.60 0.80 1.00 1.28 1.52 1.78 2.01 2.24 2.46 2.69 2.94 3.19 3.46 3.94 4.25 4.80 55
41 0.65 0.89 1.10 1.41 1.66 1.94 2.17 2.41 2.63 2.89 3.15 3.42 3.72 4.23 4.58 5.23 56
42 0.70 0.98 1.20 1.54 1.80 2.10 2.33 2.58 2.83 3.10 3.38 3.69 4.01 4.57 4.94 5.70 57
43 0.76 1.05 1.29 1.63 1.90 2.20 2.45 2.74 3.01 3.31 3.64 3.98 4.34 4.94 5.37 6.22 58
44 0.81 1.12 1.39 1.71 2.00 2.30 2.59 2.90 3.21 3.55 3.92 4.30 4.69 5.37 5.85 6.78 59
45 1.86 1.19 1.48 1.79 2.10 2.42 2.73 3.07 3.43 3.82 4.23 4.64 5.07 5.83 6.36 7.37 60
46 0.91 1.26 1.58 1.86 2.22 2.53 2.88 3.28 3.67 4.11 4.55 5.01 5.49 6.32 6.89 8.00 61
47 0.96 1.33 1.68 1.95 2.34 2.65 3.06 3.49 3.94 4.41 4.90 5.51 5.94 6.84 7.46 8.67 62
48 1.00 1.39 1.76 2.04 2.45 2.82 3.27 3.76 4.20 4.70 5.23 5.77 6.31 7.25 7.88 9.38 63
49 1.05 1.46 1.83 2.13 2.58 3.00 3.50 4.04 4.48 5.02 5.57 6.13 6.70 7.67 8.30 10.15 64
40
SOCIETY OF ACTUARIES 1975-1980 TABLE*
* RATES ARE EXTENDED FOR AGES 71-85
FEMALE AGGREGATE
AGE NEAREST BASIS
PER $1000 PER $1000
ISSUE DURATION ATTAINED
AGE 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16+ AGE
50 1.10 1.53 1.91 2.24 2.72 3.20 3.74 4.35 4.78 5.34 5.92 6.50 7.09 8.09 8.75 10.99 65
51 1.15 1.60 2.01 2.35 2.86 3.40 4.00 4.68 5.09 5.67 6.28 6.88 7.49 8.53 9.21 11.91 66
52 1.20 1.63 2.10 2.47 3.01 3.61 4.28 5.03 5.40 6.01 6.64 7.27 7.91 9.00 9.70 12.92 67
53 1.26 1.76 2.22 2.65 3.23 3.87 4.57 5.34 5.77 6.41 7.05 7.75 8.47 9.68 10.50 14.03 68
54 1.32 1.85 2.35 2.84 3.47 4.15 4.87 5.65 6.15 6.81 7.49 8.26 9.07 10.43 11.37 15.25 69
55 1.38 1.93 2.48 3.05 3.72 4.43 5.18 5.97 6.56 7.25 7.96 8.81 9.72 11.24 12.33 16.63 70
56 1.45 2.02 2.62 3.27 3.97 4.72 5.50 3.29 6.97 7.71 8.46 9.40 10.43 12.13 13.41 18.21 71
57 1.51 2.11 2.76 3.49 4.24 5.02 5.82 6.62 7.42 8.21 9.00 10.04 11.20 13.13 14.65 20.04 72
58 1.63 2.29 2.99 3.76 4.54 5.34 6.18 7.03 7.88 8.71 9.76 10.86 12.11 14.18 15.84 22.17 73
59 1.75 2.48 3.24 4.04 4.85 5.69 6.57 7.46 8.36 9.25 10.60 11.79 13.14 15.40 17.21 24.65 74
60 1.88 2.68 6.50 4.34 5.18 6.06 6.98 7.93 8.89 9.83 11.55 12.85 14.33 16.80 18.78 27.53 75
61 2.01 2.90 3.77 4.66 5.54 6.45 7.42 8.43 9.45 10.47 12.64 14.08 15.70 18.42 20.59 30.86 76
62 2.15 3.12 4.07 5.01 5.93 6.88 7.90 8.97 10.07 11.19 13.90 15.50 17.30 20.28 22.64 34.69 77
63 2.27 3.27 4.26 5.24 6.21 7.22 8.30 9.49 10.75 12.11 15.04 16.80 18.79 22.08 24.73 39.07 78
64 2.40 3.43 4.46 5.48 6.50 7.57 8.75 10.07 11.53 13.17 16.34 18.28 20.47 24.09 27.05 44.00 79
65 2.53 3.59 4.66 5.73 6.80 7.95 9.24 10.72 12.43 14.38 17.83 19.94 22.34 26.30 29.55 49.48 80
66 2.67 3.76 4.88 5.99 7.12 8.37 9.80 11.47 13.45 15.78 19.51 21.81 24.41 28.69 32.20 55.51 81
67 2.82 3.94 5.10 6.27 7.48 8.85 10.43 12.32 14.61 17.37 21.40 23.87 26.64 31.21 34.98 62.09 82
68 3.06 4.28 5.56 6.87 8.23 9.79 11.60 13.76 16.38 19.53 23.87 26.64 29.96 34.98 39.13 69.22 83
69 3.33 4.67 6.09 7.56 9.11 10.89 12.95 15.42 18.41 21.99 26.64 29.96 33.51 39.13 43.62 76.90 84
70 3.63 5.11 6.70 8.36 10.13 12.16 14.52 17.34 20.73 24.77 29.96 33.61 37.59 43.62 48.46 85.13 85
71 4.37 6.01 7.76 9.61 11.56 14.20 17.00 20.51 24.42 29.94 33.58 37.56 43.26 48.06 59.59 93.91 86
72 5.21 6.87 8.87 11.01 13.89 16.65 20.32 24.20 28.95 32.75 36.94 42.57 47.68 58.74 71.37 103.24 87
73 6.21 8.13 10.46 13.58 16.30 20.12 23.98 27.96 31.92 36.32 41.88 47.29 57.89 70.43 85.69 113.12 88
74 7.39 9.64 12.65 15.96 19.93 23.76 26.97 31.09 35.70 41.19 46.91 57.04 69.49 83.62 97.26 123.55 89
41
SOCIETY OF ACTUARIES 1975-1980 TABLE*
* RATES ARE EXTENDED FOR AGES 71-85
FEMALE AGGREGATE
AGE NEAREST BASIS
PER $1000 PER $1000
ISSUE DURATION ATTAINED
AGE 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16+ AGE
75 8.81 12.04 15.61 19.73 23.54 26.72 30.25 35.08 40.49 46.52 56.19 67.62 80.53 95.02 111.20 134.53 90
76 10.18 13.88 17.97 22.66 25.98 29.70 34.45 40.15 46.14 55.76 67.15 80.01 93.89 109.96 123.10 146.06 91
77 11.79 16.02 20.68 24.74 29.14 33.53 39.46 45.76 55.33 66.68 79.49 92.76 108.72 121.75 135.84 158.14 92
78 13.67 18.48 23.26 28.31 32.60 38.76 45.37 54.91 66.21 78.98 91.63 107.49 120.40 134.38 149.44 170.77 93
79 15.84 21.28 26.64 31.67 38.07 44.99 54.48 65.74 77.95 90.50 106.25 119.06 132.91 148.65 163.94 183.95 94
80 18.31 24.42 30.42 37.38 44.60 54.06 65.27 76.91 89.36 103.78 117.71 131.45 147.86 163.09 178.43 197.68 95
81 21.09 27.94 34.61 42.30 51.50 63.39 75.37 88.23 102.55 116.37 129.99 146.23 161.38 176.59 191.75 211.96 96
82 24.22 31.84 39.99 48.95 61.04 73.30 87.10 101.31 115.02 128.53 144.70 159.67 174.75 189.77 205.60 226.79 97
83 28.38 36.91 45.97 58.22 70.72 84.84 100.08 113.68 127.07 143.12 157.96 172.91 187.80 203.48 224.52 242.17 98
84 33.07 42.56 54.47 68.14 82.58 98.84 112.33 125.61 140.74 156.25 171.07 185.82 201.36 221.12 242.17 258.10 99
85 38.31 50.71 65.04 80.32 97.60 110.99 124.15 138.37 153.69 169.23 183.84 199.24 217.72 239.75 258.10 274.58 100
42
EXHIBIT C-11
JLLS PLANS
NON-EXPERIENCED RATED PREMIUM RATES
THESE RATES ARE APPLICABLE TO POLICIES ISSUED ON OR AFTER SEPTEMBER 1, 1997.
1. INSTRUCTIONS FOR ADMINISTRATION OF YRT RATES: The life insurance rates are
shown on a per thousand dollar basis. THE RATES ARE PAYABLE ANNUALLY IN
ADVANCE.
The following allowances apply to all joint life last-to-die plans, during
the first year and renewal years.
- of the Male Non-smoker rates in Exhibit C-11 for cases in which at
least one of the insureds in a non-smoker
- of the Male Smoker rates in Exhibit C-11 when both insureds are
smokers.
It is understood that if one life is declined on a JLLS policy, the rates
will be based on the insurable single life risk using the current automatic
reinsurance premium rates for the corresponding plan.
2. INSTRUCTIONS FOR CALCULATING THE JOINT EQUAL AGE.
Reinsurance premiums shall be based on a joint equal age of the Insured under
the policy. The joint equal age shall be calculated by using the following
tables in the order indicated.
TABLE A
Convert all lives to Standard Non-smokers as follows, if both lives are not
non-smokers
Male Female
---- ------
Preferred Non-smoker -1 -1
Standard Non-Smoker +1 +1
Smoker +6 +4
The above Table A is for automatic policies and facultative excess policies.
For policies issued under the Competitive Underwriting Program or the Table 4
program, only the smoker conversion is used.
43
EXHIBIT C-11
Page 2
TABLE B
For Substandard Joint-Last-to-Die policies, a joint equal age will be calculated
based on a standard rated policy; then, the Company's ratings are applied,
either as a multiple of (percentage extra), or addition to (flat extra), the
basic premium. Flat and multiple extras will receive the same allowances as
flat and multiple extras on individual life policies. Rating values for
specific ages and ratings are shown further on in this Exhibit. It is
understood that the maximum premium is $500 per thousand.
TABLE C
An adjustment should be made in the ages of any females to bring them to a
corresponding male age
Female to Male Adjustment
All Ages: - 5
TABLE D
Once you have two male ages with the same underwriting and smoking class, the
following table is used to determine a joint equal age:
Joint Equal Age
Difference Add to Younger
---------- --------------
Age Age
--- ---
1 - 2 0
3 - 4 1
5 - 6 3
7 - 9 4
10 - 12 5
13 - 15 6
16 - 18 7
19 - 23 8
24 - 28 9
29 - 34 10
35 - 39 11
40 - 44 12
45 - 47 13
48 - 50 14
44
EXHIBIT C-111
SURVIVORSHIP UNIVERSAL LIFE AND SURVIVORSHIP VARIABLE
UNIVERSAL LIFE
THESE RATES ARE EFFECTIVE MAY 1, 1998.
1. INSTRUCTIONS FOR ADMINISTRATION OF YRT RATES: The life insurance rates
are shown on a per thousand dollar basis and are equivalent to the
following percentages of the attached Extended SOA 75-80 Basic Select &
Ultimate Age Nearest Aggregate, Sex Distinct tables.
AUTOMATIC AND FACULTATIVE EXCESS
The following percentages apply to Survivorship Universal Life and
Survivorship Variable Universal Life.
Preferred Non Smoker: *
Standard Non Smoker: *
Preferred Smoker
Standard Smoker
*Before Frazierization
The joint life premium rate per $1,000 is calculated by Frazierizing the
above single life rates then taking the larger of this rate and
The above percentages apply to automatic and facultative inforce where
the jumbo limit has not been exceeded. If the jumbo limit is exceeded,
the rates will not be higher than ________ of the automatic single life
premium rates which will be determined at the time of facultative
underwriting.
There shall be no policy fee payable.
TABLE 4 PROGRAM
All policies issued by the Company and found to be rateable up to and
including Table 4 (200%) prior to reinsurance review can be
automatically issued to the Reinsurer at standard rates. The Company
will pay the Reinsurer ____ of the current automatic single life premium
rates for the corresponding plan for any policies eligible under the
Table 4 Program. For example, the rates will be ___ of the current
automatic single life premium rates for the non rated standard life and
_________ of the current automatic single life premium rates for the
rated life that is falling under the Table 4 Program. The joint premium
is calculated by frazierizing the single life premiums.
45
EXHIBIT C-111
Page 2
SUBSTANDARD CASES
For substandard policies, the single life premium rate will be
calculated by multiplying the single rate by the appropriate rating.
The joint premium is calculated by frazierizing the single life
premiums. For policies with a flat extra, the single life premium rate
is calculated by adding the appropriate net flat extra rate. The joint
premium rate is calculated by frazierizing the single life premium
rates. It is understood that the maximum premium is ____ per thousand.
RIDERS
The reinsurance rates for the following riders are as follows:
Additional Protection Benefit (APB) Same as base plan (point-in-scale).
Policy Split Option (PSO) ___ of the final calculated joint
life premium. Single life premium
rates apply after the option is
exercised (point-in-scale).
Estate Preservation Rider (EPR) Same as base plan.
Individual Term Riders Single life premium rates apply.
Continuing Coverage Rider (CCR) ___ per month less an allowance of
___. The premium is calculated
based on our share of the risk, if
any, for each year from attained
age 90 to age 100.
Enhanced Death Benefit Rider Same as base plan (point-in-scale).
(EDBR)
Automatic Increase Rider (AIR) Same as base plan (point-in-scale).
46
75-80 BASIC TABLE
FEMALE ANB
DURATION
AGE 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16+
0 0.33 0.34 0.30 0.27 0.24 0.22 0.20 0.18 0.18 0.18 0.19 0.21 0.24 0.27 0.32 0.33
1 0.34 0.30 0.27 0.24 0.22 0.20 0.18 0.18 0.18 0.19 0.21 0.24 0.27 0.32 0.36 0.40
2 0.28 0.27 0.24 0.22 0.20 0.15 0.15 0.18 0.19 0.21 0.24 0.27 0.32 0.36 0.40 0.40
3 0.24 0.24 0.22 0.20 0.18 0.18 0.18 0.19 0.21 0.24 0.27 0.32 0.36 0.40 0.44 0.47
4 0.22 0.22 0.20 0.18 0.18 0.18 0.19 0.20 0.24 0.27 0.32 0.36 0.40 0.44 0.47 0.47
5 0.20 0.20 0.18 0.18 0.18 0.19 0.21 0.21 0.27 0.32 0.36 0.40 0.44 0.47 0.48 0.51
6 0.19 0.18 0.18 0.16 0.19 0.21 0.24 0.27 0.32 0.35 0.40 0.44 0.47 0.49 0.51 0.52
7 0.17 0.18 0.18 0.19 0.21 0.24 0.27 0.32 0.38 0.40 0.44 0.47 0.49 0.51 0.52 0.53
8 0.16 0.18 0.19 0.21 0.24 0.27 0.32 0.36 0.43 0.44 0.47 0.49 0.51 0.52 0.53 0.53
9 0.16 0.19 0.21 0.24 0.27 0.32 0.36 0.40 0.44 0.47 0.49 0.51 0.52 0.53 0.53 0.53
10 0.16 0.21 0.24 0.27 0.32 0.36 0.40 0.44 0.47 0.49 0.51 0.52 0.53 0.53 0.53 0.53
11 0.17 0.24 0.27 0.32 0.36 0.40 0.44 0.47 0.49 0.51 0.52 0.53 0.53 0.53 0.53 0.53
12 0.18 0.27 0.32 0.36 0.40 0.44 0.47 0.49 0.51 0.52 0.53 0.53 0.53 0.53 0.53 0.53
13 0.21 0.31 0.35 0.38 0.42 0.45 0.47 0.49 0.52 0.53 0.53 0.53 0.53 0.53 0.53 0.53
14 0.25 0.33 0.37 0.40 0.43 0.45 0.47 0.48 0.53 0.53 0.53 0.53 0.53 0.53 0.53 0.54
15 0.28 0.35 0.39 0.41 0.43 0.45 0.46 0.48 0.53 0.53 0.53 0.53 0.53 0.53 0.54 0.54
16 0.32 0.37 0.39 0.41 0.42 0.43 0.45 0.46 0.53 0.53 0.53 0.53 0.53 0.54 0.55 0.56
17 0.36 0.37 0.39 0.40 0.41 0.42 0.43 0.44 0.53 0.53 0.53 0.53 0.54 0.55 0.58 0.61
18 0.36 0.37 0.39 0.40 0.41 0.42 0.43 0.44 0.51 0.52 0.53 0.54 0.55 0.56 0.61 0.66
19 0.36 0.37 0.39 0.40 0.41 0.42 0.43 0.44 0.50 0.50 0.54 0.55 0.58 0.61 0.65 0.70
20 0.35 0.36 0.38 0.39 0.41 0.41 0.43 0.44 0.48 0.50 0.56 0.58 0.61 0.66 0.70 0.77
21 0.34 0.36 0.37 0.39 0.40 0.41 0.43 0.44 0.47 0.49 0.58 0.61 0.65 0.70 0.77 0.84
22 0.32 0.34 0.38 0.38 0.40 0.41 0.43 0.45 0.48 0.50 0.61 0.65 0.70 0.77 0.81 0.90
23 0.32 0.34 0.37 0.39 0.41 0.42 0.45 0.48 0.50 0.55 0.55 0.70 0.77 0.88 0.93 1.09
24 0.31 0.34 0.38 0.48 0.42 0.45 0.46 0.50 0.55 0.59 0.70 0.77 0.84 0.93 1.03 1.15
25 0.31 0.35 0.39 0.41 0.44 0.45 0.50 0.55 0.55 0.63 0.77 0.84 0.93 1.03 1.15 1.29
26 0.30 0.35 0.39 0.43 0.45 0.50 0.55 0.50 0.63 0.59 0.64 0.93 1.03 1.15 1.29 1.45
27 0.30 0.35 0.41 0.45 0.50 0.55 0.58 0.63 0.65 0.76 0.93 1.03 1.15 1.29 1.45 1.62
28 0.31 0.36 0.42 0.48 0.53 0.50 0.63 0.65 0.75 0.86 1.03 1.15 1.25 1.45 1.62 1.79
29 0.32 0.37 0.44 0.51 0.57 0.63 0.66 0.76 0.66 0.97 1.15 1.29 1.45 1.62 1.75 1.96
30 0.33 0.36 0.47 0.54 0.52 0.68 0.78 0.86 0.97 1.06 1.29 1.45 1.62 1.79 1.98 2.14
31 0.35 0.41 0.50 0.50 0.95 0.76 0.86 0.97 1.08 1.19 1.45 1.62 1.78 1.94 2.11 2.33
32 0.38 0.44 0.54 0.65 0.76 0.86 0.97 1.08 1.19 1.31 1.52 1.79 1.94 2.14 2.33 2.52
33 0.39 0.46 0.57 0.69 0.82 0.93 1.07 1.19 1.31 1.48 1.77 1.94 2.12 2.33 2.52 2.72
34 0.41 0.45 0.60 0.74 0.88 1.02 1.15 1.31 1.48 1.64 1.92 2.10 2.30 2.51 2.72 2.93
35 0.43 0.51 0.63 0.79 0.95 1.12 1.30 1.48 1.54 1.81 2.37 2.27 2.46 2.71 2.82 3.17
47
75-80 BASIC TABLE
FEMALE ANB
DURATION
AGE 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16+
36 0.45 0.54 0.67 0.85 1.04 1.23 1.43 1.73 1.61 2.00 2.23 2.43 2.64 2.92 3.17 3.43
37 0.49 0.58 0.71 0.92 1.13 1.35 1.56 1.77 1.98 2.19 2.39 2.60 2.82 3.15 3.42 3.71
38 0.51 0.64 0.60 1.04 1.28 1.49 1.70 1.82 2.14 2.35 2.54 2.78 3.02 3.38 3.65 4.04
39 0.56 0.72 0.89 1.18 1.39 1.83 1.65 2.08 2.30 2.52 2.74 2.96 3.23 3.62 3.84 4.40
40 0.68 0.80 1.00 1.28 1.52 1.78 2.01 2.24 2.46 2.69 2.84 3.19 3.46 3.91 4.25 4.60
41 0.66 0.89 1.10 1.41 1.66 1.94 2.17 2.41 2.63 2.89 3.15 3.42 3.72 4.23 4.58 5.23
42 0.78 0.99 1.20 1.64 1.80 2.10 2.33 2.58 2.83 3.10 3.38 3.89 4.00 4.57 4.94 5.78
43 0.70 1.05 1.29 1.3 1.90 2.20 2.45 2.74 3.01 3.31 3.64 3.88 4.34 4.94 5.37 6.22
44 0.81 1.12 1.38 1.71 2.00 2.30 2.59 2.90 3.21 3.55 3.92 4.30 4.60 5.37 5.86 6.70
45 0.84 1.19 1.48 1.79 2.10 2.42 2.73 3.07 3.43 3.62 4.23 4.64 5.07 5.83 6.36 7.37
46 0.91 1.26 1.58 1.88 2.22 2.53 2.88 3.28 3.67 4.11 4.56 5.01 5.49 5.32 6.99 8.00
47 0.96 1.33 1.69 1.95 2.34 2.65 3.06 3.49 3.94 4.41 4.90 5.41 5.94 6.84 7.06 8.67
48 1.08 1.39 1.76 2.04 2.45 2.82 3.27 3.76 4.20 4.70 5.23 5.77 6.37 7.25 7.88 9.38
49 1.06 1.46 1.83 2.13 2.58 3.00 3.50 4.04 4.48 5.02 5.57 6.13 6.70 7.67 8.30 10.15
50 1.10 1.53 1.91 2.24 2.72 3.20 3.74 4.35 4.78 5.34 5.92 6.50 7.09 8.09 8.75 10.99
51 1.15 1.60 2.01 2.35 2.88 3.40 4.00 4.68 5.09 5.67 6.28 6.88 7.49 9.53 9.21 11.91
52 1.29 1.68 2.10 2.47 3.01 3.61 4.28 5.03 5.40 5.01 6.54 7.27 7.91 9.00 9.70 12.92
53 1.24 1.76 2.22 2.86 3.23 3.87 4.57 5.36 5.77 6.41 7.05 7.75 8.47 8.57 10.58 14.03
54 1.32 1.85 2.35 2.64 3.47 4.15 4.87 5.65 6.15 6.81 7.49 8.26 9.07 10.43 11.37 15.25
55 1.38 1.93 2.48 3.05 3.72 4.43 5.18 5.97 6.55 7.25 7.96 8.81 9.72 11.24 12.33 16.63
56 1.45 2.02 2.62 3.27 3.97 4.72 5.50 6.29 6.97 7.71 8.46 9.40 10.43 12.13 13.41 18.21
57 1.51 2.11 2.75 3.49 4.24 5.02 5.82 6.62 7.42 8.21 9.00 10.04 11.20 13.13 14.85 20.04
58 1.63 2.29 2.99 3.76 4.54 5.34 6.18 7.03 7.88 8.71 8.76 10.86 12.11 14.18 15.84 22.17
59 1.75 2.48 3.24 4.04 4.85 5.98 6.57 7.46 8.36 9.25 10.50 11.75 13.14 15.40 17.21 24.65
60 1.88 2.68 3.50 4.34 5.18 6.06 6.98 7.93 8.89 9.83 11.55 12.85 14.33 15.60 18.78 27.53
61 2.01 2.90 3.77 4.66 5.54 6.45 7.42 8.43 9.45 10.17 12.64 14.08 15.70 18.42 20.59 30.95
62 2.15 3.12 4.07 5.01 5.93 6.08 7.90 8.97 10.97 11.18 13.90 15.50 17.30 20.28 22.64 34.60
63 2.27 2.27 4.28 5.24 6.21 7.22 8.30 9.43 10.75 12.11 15.04 16.80 18.75 22.08 24.73 39.07
64 2.40 3.43 4.45 5.48 6.50 7.57 8.75 10.07 11.53 13.17 16.34 18.28 20.47 24.09 27.05 44.00
65 2.53 2.58 4.65 5.73 6.50 7.95 8.24 10.72 12.43 14.38 17.83 19.94 22.34 26.30 29.95 49.48
66 2.67 3.76 4.83 5.99 7.12 8.37 8.80 11.47 13.45 15.78 19.51 21.81 24.41 28.69 32.20 55.51
67 2.82 3.94 5.10 6.27 7.48 8.85 10.43 12.32 14.61 17.37 21.48 23.87 26.64 31.21 34.98 62.09
68 3.08 4.28 5.58 6.67 8.23 9.79 11.58 13.76 18.38 19.53 23.87 25.64 29.96 34.98 39.11 69.22
69 3.33 4.67 6.09 7.58 9.11 10.89 12.95 15.42 18.41 21.99 26.54 29.96 33.61 39.13 43.62 76.99
70 3.63 5.11 6.79 8.36 10.13 12.16 14.52 17.34 20.73 24.77 29.96 33.61 38.46 43.62 48.45 85.13
71 3.97 5.62 7.41 9.30 11.31 13.63 16.32 19.53 29.35 27.85 33.61 37.60 42.77 48.45 58.82 93.91
48
75-80 BASIC TABLE
FEMALE ANB
DURATION
AGE 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16+
72 4.37 6.22 8.24 10.38 12.68 15.32 18.38 21.99 28.25 31.25 37.60 47.91 47.51 58.14 70.76 103.24
73 4.84 6.92 9.29 11.64 14.26 17.26 20.70 24.73 29.45 34.95 41.91 46.56 52.60 69.10 84.15 113.12
74 5.38 7.73 10.32 13.08 16.08 19.43 23.28 27.75 32.94 38.97 46.56 59.55 63.15 81.42 93.17 123.55
75 6.01 8.66 11.00 14.73 18.08 21.85 28.12 31.44 38.73 43.29 51.55 61.50 75.08 95.19 115.93 134.53
76 6.74 8.73 13.00 16.50 20.33 24.52 29.21 34.60 40.80 47.92 60.98 72.70 88.42 110.49 134.53 116.06
77 7.57 10.98 14.71 18.66 22.81 27.43 32.57 38.44 45.17 52.87 71.57 85.23 103.32 127.42 146.05 158.14
78 8.53 12.35 18.54 20.93 25.62 30.57 35.18 42.95 49.83 63.14 83.37 96.18 119.84 146.06 158.14 170.77
79 9.60 13.88 18.58 23.41 28.45 33.97 41.05 46.84 59.63 74.87 96.48 114.53 138.03 158.14 170.77 183.95
80 10.83 15.58 20.76 26.10 31.60 37.60 45.39 58.30 70.64 87.55 110.95 131.66 158.14 170.77 183.85 197.68
81 12.12 17.42 23.14 29.00 36.89 45.83 55.75 66.83 82.98 101.87 126.85 150.34 170.77 183.95 197.68 211.95
82 13.55 19.42 25.71 36.18 45.13 55.21 65.28 78.61 38.64 117.69 144.28 170.77 183.95 197.68 211.96 224.79
83 15.11 25.53 32.82 44.41 54.49 65.75 79.09 91.71 111.78 135.10 135.10 163.29 183.95 197.65 211.96 242.17
84 21.09 32.63 41.91 53.77 65.05 77.56 91.21 106.21 128.45 154.19 183.96 195.68 211.96 226.79 242.17 258.10
85 28.09 40.82 50.38 64.34 76.88 90.72 105.75 122.19 146.72 175.02 197.65 211.95 226.79 242.17 258.10 274.58
86 36.23 50.19 60.99 78.19 90.06 105.29 121.77 139.71 156.68 197.88 211.95 228.79 242.17 258.10 274.58 295.88
87 45.59 60.80 72.94 89.41 104.58 121.35 139.35 156.66 198.60 211.98 226.79 242.17 258.10 274.58 295.86 322.81
88 56.27 72.76 86.31 104.07 120.80 138.90 158.57 179.70 211.96 220.79 242.17 258.19 274.58 295.86 322.01 356.61
89 68.36 86.14 101.19 120.25 138.51 158.27 179.49 202.32 226.79 242.17 258.10 274.58 295.85 322.81 356.61 368.80
90 91.95 101.02 117.96 133.04 157.89 179.29 202.21 223.79 242.17 258.10 274.58 295.86 322.81 356.61 398.80 451.40
91 97.13 117.51 135.79 157.51 179.01 202.10 228.79 242.17 258.10 274.58 295.84 322.81 356.61 398.80 451.40 517.08
92 113.99 135.87 155.89 178.74 291.95 226.79 242.17 258.10 274.58 295.84 322.81 356.61 398.80 451.40 517.08 599.34
93 132.63 155.59 177.44 201.80 226.79 242.17 258.10 274.58 295.84 322.81 356.61 398.80 451.40 517.08 599.34 702.85
94 153.14 177.38 201.11 226.79 242.17 258.16 274.58 305.00 322.01 356.01 398.80 451.40 517.03 599.34 702.85 833.79
95 175.50 201.07 233.79 242.17 258.10 274.50 295.88 322.01 356.01 398.80 451.40 517.03 599.34 702.85 833.79 999.99
96 200.12 226.79 242.17 258.10 274.50 295.88 322.01 356.01 398.80 451.40 517.03 599.34 702.85 833.79 999.99 999.99
97 226.79 242.17 258.10 274.50 295.88 322.01 356.01 398.80 451.40 517.03 599.34 702.85 833.79 999.99 999.99 999.99
98 242.17 258.10 274.50 295.88 322.01 356.01 398.80 451.40 517.03 599.34 702.85 833.79 999.99 999.99 999.99 999.99
99 258.10 274.50 295.88 322.01 356.01 398.80 451.40 517.03 599.34 702.85 833.79 999.99 999.99 999.99 999.99 999.99
49
75-80 Basic Table
Male ANB
Duration
Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16+
0 1.23 0.74 0.45 0.43 0.38 0.34 0.33 0.26 0.27 0.27 0.25 0.28 0.31 0.38 0.54 0.68
1 0.49 0.47 0.42 0.36 0.28 0.23 0.22 0.22 0.24 0.24 0.27 0.30 0.38 0.54 0.66 1.01
2 0.35 0.37 0.33 0.26 0.23 0.22 0.21 0.24 0.24 0.27 0.30 0.37 0.54 0.69 1.01 1.14
3 0.35 0.29 0.25 0.23 0.22 0.20 0.22 0.24 0.27 0.39 0.37 0.53 0.68 1.01 1.14 1.22
4 0.29 0.25 0.23 0.22 0.20 0.22 0.24 0.27 0.30 0.36 0.52 0.65 0.99 1.11 1.22 1.31
5 0.25 0.23 0.22 0.20 0.22 0.24 0.27 0.30 0.36 0.50 0.68 0.96 1.09 1.16 1.31 1.37
6 0.23 0.22 0.20 0.22 0.24 0.27 0.30 0.36 0.50 0.66 0.94 1.07 1.14 1.21 1.37 1.40
7 0.19 0.20 0.22 0.24 0.27 0.30 0.35 0.56 0.54 0.67 1.05 1.13 1.19 1.23 1.40 1.41
8 0.16 0.21 0.21 0.27 0.29 0.35 0.50 0.66 0.67 1.05 1.13 1.19 1.23 1.30 1.39 1.40
9 0.19 0.20 0.24 0.29 0.35 0.50 0.66 0.87 1.06 1.14 1.19 1.23 1.30 1.35 1.36 1.38
10 0.18 0.22 0.27 0.35 0.50 0.66 0.87 1.05 1.13 1.19 1.23 1.30 1.35 1.36 1.32 1.34
11 0.20 0.25 0.34 0.50 0.68 0.87 1.05 1.13 1.18 1.23 1.30 1.35 1.36 1.30 1.27 1.25
12 0.23 0.32 0.50 0.66 0.87 1.05 1.13 1.19 1.23 1.30 1.35 1.36 1.30 1.25 1.20 1.20
13 0.30 0.46 0.63 0.87 1.05 1.12 1.19 1.22 1.24 1.28 1.31 1.30 1.25 1.20 1.18 1.20
14 0.44 0.59 0.87 1.05 1.12 1.17 1.22 1.23 1.23 1.24 1.26 1.25 1.19 1.15 1.13 1.17
15 0.58 0.87 1.05 1.12 1.17 1.21 1.23 1.22 1.20 1.20 1.19 1.18 1.13 1.12 1.11 1.14
16 0.87 1.05 1.12 1.17 1.21 1.20 1.21 1.19 1.16 1.14 1.12 1.12 1.09 1.09 1.09 1.12
17 1.05 1.12 1.17 1.21 1.20 1.18 1.18 1.15 1.11 1.07 1.05 1.06 1.05 1.06 1.08 1.11
18 1.03 1.10 1.13 1.15 1.14 1.11 1.11 1.07 1.04 1.01 1.00 1.02 1.01 1.03 1.07 1.12
19 1.00 1.05 1.06 1.07 1.05 1.04 1.02 0.98 0.95 0.95 0.97 0.97 0.99 1.01 1.07 1.14
20 0.99 0.97 0.97 0.97 0.97 0.95 0.93 0.90 0.90 0.93 0.93 0.94 0.96 1.01 10.8 1.17
21 0.84 0.87 0.87 0.87 0.87 0.88 0.85 0.83 0.88 0.88 0.90 0.92 0.96 1.02 1.11 1.22
22 0.73 0.76 0.76 0.76 0.77 0.77 0.77 0.77 0.80 0.83 0.83 0.91 0.98 1.04 1.15 1.28
23 0.73 0.76 0.76 0.75 0.85 0.76 0.77 0.77 0.80 0.84 0.90 0.94 1.00 1.10 1.21 1.30
24 0.73 0.74 0.73 0.73 0.74 0.76 0.77 0.78 0.80 0.87 0.88 0.97 1.05 1.17 1.29 1.45
25 0.72 0.72 0.72 0.72 0.74 0.76 0.77 0.79 0.84 0.90 0.98 1.03 1.12 1.25 1.39 1.56
26 0.70 0.70 0.71 0.72 0.73 0.76 0.78 0.82 0.88 0.95 1.02 1.09 1.20 1.35 1.40 1.70
27 0.68 0.68 0.70 0.71 0.73 0.77 0.81 0.83 0.92 1.01 1.08 1.17 1.30 1.47 1.63 1.87
28 0.66 0.68 0.71 0.73 0.79 0.81 0.85 0.92 1.00 1.08 1.17 1.28 1.42 1.61 1.81 2.07
29 0.65 0.68 0.73 0.76 0.81 0.83 0.92 1.00 1.08 1.17 1.28 1.42 1.58 1.81 2.03 2.31
30 0.64 0.68 0.76 0.81 0.85 0.92 1.00 1.08 1.17 1.28 1.42 1.58 1.81 2.03 2.26 2.58
31 0.63 0.69 0.79 0.86 0.92 1.00 1.08 1.17 1.28 1.42 1.58 1.81 2.03 2.36 2.53 2.89
32 0.63 0.71 0.84 0.92 1.00 1.08 1.17 1.28 1.40 1.55 1.81 2.03 2.28 2.53 2.83 3.24
33 0.63 0.72 0.88 0.90 1.08 1.17 1.28 1.40 1.58 1.78 2.01 2.25 2.53 2.83 3.17 3.61
34 0.63 0.73 0.93 1.05 1.17 1.28 1.40 1.58 1.78 2.01 2.24 2.53 2.81 3.16 3.54 4.02
35 0.63 0.78 0.99 1.14 1.28 1.40 1.58 1.78 2.01 2.24 2.53 2.80 3.13 3.52 3.94 4.45
50
75-80 Basic Table
Male ANB
Duration
Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16+
36 0.65 0.79 1.05 1.25 1.40 1.58 1.78 2.01 2.24 2.53 2.80 3.10 3.48 3.91 4.36 4.92
37 0.67 0.84 1.05 1.37 1.58 1.78 2.01 2.24 2.53 2.80 3.08 3.43 3.84 4.32 4.82 5.44
38 0.70 0.89 1.23 1.47 1.70 1.91 2.16 2.41 2.72 3.04 3.35 3.76 4.25 4.78 5.33 6.00
39 0.74 0.95 1.33 1.59 1.83 2.07 2.33 2.60 2.93 3.27 3.64 4.10 4.67 5.28 5.99 6.61
40 0.79 1.02 1.46 1.73 2.00 2.23 2.51 2.79 3.19 3.51 3.94 4.47 5.13 5.82 6.48 7.27
41 0.85 1.11 1.59 1.90 2.17 2.42 2.70 2.98 3.33 3.75 4.24 4.88 5.02 5.41 7.12 8.01
42 0.92 1.22 1.76 2.00 2.37 2.62 2.89 3.18 3.52 3.99 4.57 5.28 6.15 7.05 7.85 8.82
43 0.99 1.37 1.83 2.30 2.61 2.88 3.18 3.47 3.83 4.33 4.96 5.71 6.83 7.61 8.50 9.73
44 1.08 1.53 2.11 2.52 2.86 3.17 3.47 3.79 4.17 4.70 5.37 6.16 7.16 8.20 9.22 10.75
45 1.17 1.72 2.31 2.75 3.13 3.47 3.79 4.14 4.58 5.48 5.80 6.66 7.73 8.85 10.02 11.89
46 1.28 1.94 2.51 3.00 3.40 3.78 4.14 4.56 4.91 5.48 6.28 7.19 8.35 9.56 10.89 13.17
47 1.39 2.17 2.73 3.25 3.68 4.13 1.53 4.89 5.31 5.83 6.79 7.78 9.03 10.34 11.85 14.57
48 1.49 2.27 2.84 3.40 3.90 4.38 4.67 5.28 5.80 6.49 7.53 8.64 9.94 11.30 12.79 13.07
49 1.60 2.35 2.95 3.54 4.09 4.62 5.18 5.70 6.33 7.12 8.26 9.60 10.96 12.32 13.75 17.71
50 1.70 2.42 3.04 3.66 4.29 4.87 5.51 6.15 6.93 7.83 9.30 10.69 12.06 13.40 14.77 19.50
51 1.80 2.48 3.12 3.77 4.47 5.12 5.86 6.65 7.59 8.61 10.35 11.89 13.24 14.56 15.83 21.47
52 1.90 2.52 3.17 3.85 4.65 5.38 6.23 7.28 8.32 9.48 11.51 13.16 14.52 15.80 16.96 23.65
53 2.06 2.75 3.48 4.23 5.08 5.90 6.64 7.89 9.11 10.43 12.63 14.52 15.89 16.96 19.16 26.05
54 2.23 2.99 3.79 4.64 5.57 6.47 7.52 8.66 9.96 11.44 13.85 15.80 16.96 19.16 21.62 28.69
55 2.41 3.27 4.12 5.10 6.11 7.11 8.27 9.50 10.86 12.54 15.17 16.96 19.16 21.62 24.38 31.57
56 2.61 3.56 4.61 5.61 6.71 7.83 8.09 10.38 11.83 13.73 16.62 19.16 21.62 24.39 27.47 34.68
57 2.82 3.69 4.94 5.18 7.38 8.60 9.96 11.33 12.87 15.83 18.21 21.36 24.38 27.15 30.87 36.00
58 2.96 4.13 5.44 6.74 8.10 9.20 10.58 12.06 13.66 15.94 19.22 22.43 25.64 28.58 32.76 41.60
59 3.10 4.37 6.00 7.34 8.87 9.82 11.23 12.79 14.47 16.38 20.25 23.49 16.85 29.94 34.70 45.54
60 3.23 4.83 6.61 7.97 9.71 10.46 11.89 13.57 15.32 17.05 21.28 24.48 27.97 31.28 36.71 49.90
61 3.37 4.89 7.26 8.64 10.46 11.59 12.58 14.38 16.18 18.82 22.26 25.39 29.04 32.61 38.82 54.71
62 3.50 5.14 7.97 9.38 11.59 11.63 13.29 15.21 17.05 19.77 23.18 16.21 30.06 33.93 41.00 60.03
63 3.85 5.77 8.74 10.48 11.83 13.29 15.21 17.95 20.11 22.42 25.79 28.87 33.14 37.75 44.96 55.85
64 4.32 5.47 9.57 11.73 13.29 15.21 17.05 20.11 22.42 25.79 28.69 32.83 36.55 42.02 48.60 72.18
65 4.80 7.26 10.50 13.13 15.21 17.05 20.11 22.42 25.79 28.60 32.93 35.12 40.34 45.75 5283 79.02
66 5.32 8.14 11.54 14.69 17.35 20.11 22.42 25.79 28.69 32.23 34.69 38.78 44.51 51.97 57.68 66.36
67 5.91 9.12 14.42 16.42 20.11 22.42 25.79 26.79 28.69 32.93 34.47 38.42 42.80 49.08 57.68 62.18
68 6.51 10.04 13.69 18.04 22.34 24.54 26.23 31.44 34.47 37.82 42.14 46.91 53.73 62.18 67.77 102.35
69 7.17 11.05 15.25 19.76 24.12 16.87 30.94 34.47 37.82 41.49 46.20 51.36 58.72 67.77 73.69 111.41
70 7.89 12.14 16.72 21.64 26.41 29.44 33.92 37.82 41.49 45.48 50.57 56.13 64.06 73.69 80.22 121.31
71 8.67 13.30 18.30 23.69 28.34 32.28 37.22 41.49 45.48 49.78 55.27 61.17 69.80 80.21 93.01 132.05
51
75-80 Basic Table
Male ANB
Duration
Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16+
72 9.50 14.56 20.04 25.96 31.73 35.42 40.33 45.47 49.79 54.41 60.24 66.52 75.78 92.19 107.40 143.60
73 10.40 15.94 21.96 28.46 34.81 38.85 44.75 49.78 54.41 59.30 66.50 72.41 82.49 105.64 120.52 156.05
74 11.39 17.47 24.97 31.23 38.19 42.58 48.99 54.41 59.30 64.49 71.30 78.85 95.83 120.65 141.49 189.12
75 12.47 19.15 26.41 34.25 41.85 45.62 53.54 58.30 64.49 70.20 77.63 91.61 110.80 137.32 161.23 182.61
76 13.67 21.01 28.97 37.55 45.83 50.85 58.35 64.48 70.29 78.44 88.70 105.33 127.51 155.58 182.61 196.52
77 15.00 23.05 31.76 41.11 50.08 55.53 63.46 70.19 76.43 88.23 103.41 121.91 145.83 176.30 196.62 210.83
78 16.46 25.27 34.77 44.62 54.58 60.38 68.07 78.43 83.29 95.40 118.69 139.52 165.91 196.52 210.85 226.60
79 18.04 27.68 35.00 48.96 59.35 65.73 75.21 83.19 95.81 111.15 135.29 159.64 187.54 210.85 225.60 240.77
80 19.75 30.23 41.41 53.24 64.61 71.57 82.60 95.32 109.87 127.41 153.39 179.32 210.35 225.60 240.77 256.36
81 21.58 32.95 45.03 57.96 70.35 82.42 94.94 108.81 125.33 145.08 172.93 201.52 225.60 240.77 256.36 272.37
82 23.52 35.83 49.02 67.58 81.20 94.55 108.43 123.61 142.08 164.21 193.58 225.60 240.77 256.36 272.37 298.88
83 25.58 44.17 58.60 78.43 93.35 108.06 123.25 139.51 160.17 184.86 216.87 240.77 256.36 272.37 288.80 305.65
84 32.61 53.72 69.48 90.61 106.88 122.89 139.27 156.88 179.65 207.05 240.77 256.36 272.37 298.60 305.65 322.92
85 43.32 64.62 81.78 104.21 121.76 138.93 156.54 175.38 204.56 230.87 256.36 272.37 288.80 305.65 322.92 340.81
86 54.23 78.95 95.56 119.18 137.86 156.23 175.11 195.25 222.96 256.36 272.37 288.80 305.65 322.92 348.61 362.95
87 36.68 90.85 110.84 135.43 155.24 174.83 195.01 218.47 246.88 272.37 268.80 305.65 322.82 340.61 352.95 380.68
88 30.90 106.31 127.55 153.00 173.64 194.77 216.28 239.11 272.37 288.80 305.65 322.92 340.61 362.95 390.65 424.75
89 96.63 123.27 145.73 171.94 194.08 216.09 238.98 263.21 288.80 305.65 322.92 340.61 362.95 390.68 424.75 464.38
90 114.12 141.78 165.44 192.29 215.48 238.84 263.14 288.60 305.65 322.92 340.61 362.95 390.68 424.75 466.36 517.12
91 133.35 161.91 184.73 214.11 238.41 283.05 288.80 305.65 322.92 340.61 362.95 390.80 424.75 466.38 517.12 578.97
92 154.37 183.71 208.65 237.43 262.84 288.30 305.65 322.92 344.51 362.95 390.68 424.75 466.38 517.12 578.97 654.46
93 177.25 207.24 234.27 252.32 258.80 305.65 322.92 340.61 362.93 390.68 424.75 466.38 517.12 578.97 654.44 746.67
94 202.07 232.56 268.64 288.60 305.65 322.82 e40.61 362.35 390.68 424.75 466.38 517.12 578.97 654.46 746.87 860.40
95 228.89 254.73 288.68 305.65 322.92 340.51 362.95 390.85 424.75 466.38 517.12 578.37 654.46 745.87 860.44 999.99
96 257.78 288.80 305.65 322.92 340.41 352.95 390.68 424.75 458.38 517.12 578.97 654.46 746.87 860.40 999.99 999.99
97 268.80 305.65 322.92 340.61 382.95 390.88 424.75 466.38 517.12 578.97 654.46 746.97 860.40 999.99 999.99 999.99
98 305.65 322.92 340.81 362.96 390.68 424.75 466.38 517.12 578.97 654.46 746.47 830.40 999.99 999.99 999.99 999.99
99 322.92 340.61 362.95 390.68 424.75 456.38 517.12 576.97 654.43 746.67 860.40 999.99 999.99 999.99 999.99 999.99
52
EXHIBIT C-IV
BENEFICIARY INSURANCE PURCHASE OPTION RIDER
INSTRUCTIONS FOR ADMINISTRATION
1. BASIS OF REINSURANCE: The Company shall pay to the Reinsurer a premium for
the Rider at the same annual premium as is applicable on the original Rider
but not including any policy fee payable on the original.
The maximum amount of Beneficiary Insurance Purcahse Option (BIO) Rider
which will be issued is____ times the base coverage. It is agreed that the
BIO rider need not be issued or reinsured in the same proportion as the
basic coverage.
For all opted policies, the Company shall pay the Reinsurer the appropriate
reinsurance premiums for the plan based on the insured's attained age and
the duration based on the issue date of the Rider.
On all cessions the due proportion of any extra premiums payable on account
of additional mortality risk shall be payable to the Reinsurer.
All business will be reinsured on a Smoker/Non-Smoker basis, and the
Company will indicate to the Reinsurer any policy that is issued on a
Non-Smoker basis.
2. COMMISSIONS: The Reinsurer shall pay to the Company commissions on the
premiums payable hereunder at the rates set out below:
Reinsurance amounts not in excess of $1,500,000 per life
Year 1
Thereafter
3. ALLOWANCES:
(a) ON FLAT EXTRA PREMIUMS
When a flat extra premium is payable for 5 years or less, an allowance
of ____ of the gross flat extra charged by the Company will be made
each year. When a flat extra premium is payable for more than 5 years,
an allowance of ____ of the gross flat extra charged by the Company
will be made in the first year and an allowance of _____ in each year
thereafter.
(b) ON MULTIPLE EXTRA PREMIUMS
The same rates and commissions as those payable on the basic policy.
53
EXHIBIT C-V
POLICY CONTINUATION RIDER
The Policy Continuation Rider (PCR) is an option, granted to the beneficiary,
for a limited period of time, to purchase insurance on the surviving life
without evidence of insurability, at the time of the first death.
AMOUNT THAT CAN BE PURCHASED ON THE SURVIVING LIFE.
The amount of insurance that can be purchased at the time this option is
exercised will not exceed the optional amount stated in the rider. The optional
amount will be determined at issue (where "at issue" means the time at which the
rider is attached to the base policy). The maximum amount of optional insurance
will be the death benefit on the policy at issue.
However, any paid-up additions (whether it be from an adds rider or from
dividends) that are used to increase the death benefit at the same time the PCR
is issued (versus adds which have accumulated to date) will be excluded when
determining the maximum optional amount. This is due to system considerations
and therefore we should have an exception handling capability.
Consider the following New Issue examples:
A $1 million base with paid-up adds is issued with a $.25 million of SPAR.
The maximum optional amount is $1 million.
A $1 million base with a $1 million of flex. The maximum optional amount is
$2 million.
Consider the following After Issue examples in which a PCR is attached on the
10th policy anniversary:
$1 million base with $.5 million of accumulated adds (but before the 10th
policy year dividends have been applied), then the maximum optional amount
is $1.5 million.
Same example as above but a Flex II term rider is attached simultaneously
for $1 million. The maximum optional amount is $2.5 million.
Same example as above but a Flex I term rider is attached simultaneously
for $1 million. The maximum optional amount is $2.0 million.
The option amount will, as usual, be subject to reinsurance availability.
EXPIRY OF THE OPTION
This option must be exercised within 90 days of the first death.
Temporary term coverage will be provided on the life of the surviving insured,
during the 90 days or to the date upon which the option is exercised if this is
earlier. The coverage amount equals
54
EXHIBIT C-V
PAGE 2
the optional insurance stated in the rider. The proceeds will be paid to the
surviving beneficiary's estate.
No additional charge is made for this temporary term coverage.
The last age on which we will issue a policy on the surviving life is age 85.
PREMIUMS
The maximum issue age is EEA 75.
Level premiums will be payable until attained EEA 80. Premiums will be
determined at issue and are based on EEA.
In the event the policy goes reduced paid-up, the premiums will not be commuted.
However, in the case of EVP we will commute the rider premiums on an
extra-contractual basis. This is similar to the way in which we handle EVP with
a BIO rider.
WAIVER OF PREMIUM (WP)
While the First to Die policy is in force and a WP rider is attached to the base
policy and one of the insureds becomes disabled, the PCR premium will be waived
in the same manner as the base premium. There will be no additional charge for
this benefit.
At the time the option is exercised, a new single life policy is issued, a
waiver of premium rider can be attached without evidence of insurability,
provided that, the surviving life is not older than age 55 at the time and a WP
rider had been attached to the base policy at the time of the first death.
The waiver of premium rates to be charged on this new single life policy will be
the WP rates on a newly underwritten policy of the same class in effect at the
time the additional insurance option is exercised. Similarly, WP benefits will
be defined with respect to a WP rider in effect at such time.
RISK CLASS AND SUBSTANDARD CLASS
This rider will not vary by risk class.
It will be available on substandard policies whose joint rating does not exceed
200% of standard. However, PCR rates will be adjusted in the same manner that
Waiver of Premium rates are, namely, standard rates will be multiplied by the
percentage of standard rating. So for example, a policy with a joint rating of
200% of standard will have a PCR rate that is double the standard PCR rate.
55
EXHIBIT C-V
PAGE 2
Cases which have a flat rating in excess of $5 per thousand for 2 or more years
will not be eligible for this rider. Flat ratings, that are acceptable for this
rider, will be charged standard PCR rates.
56
EXHIBIT D
THE CEDING COMPANY'S RETENTION LIMITS
LIFE, WAIVER OF PREMIUM, ACCIDENTAL DEATH
LISTED BY AGE AND RATING
LIFE:
All ages and ratings: $3,000,000
Exceptions:
1. The Company will retain no more than $1,000,000 in the following
situations.
(a) Aviation -- All pilots, standard and rateable.
(b) Hazardous Sports -- Standard or Rateable. Such sports such as
automobile racing, handgliding, hot air ballooning etc.
(c) Foreign residents -- Standard or rateable.
2. In additional to the basic retention, the Company will separately retain no
more than $3,000,000 of Beneficiary Insurance Option (BIO) rider.
3. Under the Company's Table 4 Program the Company will retain a twenty-five
percent (25%) quota share up to a maximum limit of $1,250,000. Each
eligible case will be issued standard and split into four equal shares
between the Company, the Reinsurer and two other reinsurance carriers.
4. For joint policies issued with an Estate Preservation Rider, the Company
will retain their full retention on a Joint-Last-to-Die policy and reinsure
the Estate Preservation rider. When the rider expires after 4 years, the
Company will reinsure a proportionate amount of the Joint-Last-to-Die
policy that is equal to the amount that was reinsured when the rider was in
force.
W.P.:
Fully retained
57
EXHIBIT D
PAGE 2
A.D.:
Fully retained
RISK RETENTION BASIS.
For policies issued under the Competitive Underwriting Program and Table 4
program the risk retention basis will be on a proportionate share.
For policies issued on an excess of retention basis, the risk retention
basis will be on a constant risk basis.
58
EXHIBIT E
THE REINSURER'S ACCEPTANCE LIMITS
AUTOMATIC LIMIT:
LIFE:
a) The Reinsurer agrees to accept twenty-five percent (25%) of the excess
over the Company's retention but not more than the following limits on
any one life. This limit applies to all plans except BIO rider, the
Table 4 Program and conversions from term plans from treaty
AGES STD (100%) -- TABLE 4 (200%)
0-75 $3,000,000
It is understood that the Company's Total Automatic Coverage not including
the Company's retention is: $12,000,000.
b) For policies converting from the term plans listed in Treaty
____________ a permanent plan listed in this treaty, the Company will
recapature the policy and reinsure the excess over the Company's
retention available on the life according to the terms of the
permanent plan listed in this treaty using the appropriate rate of the
plan at attained age and duration of the original policy. The
Reinsurer agrees to accept twenty-seven and a half percent (27.5%) of
the excess of the Company's retention but not more than the following
limits on any one life
AGES STD (100%) -- TABLE 4 (200%)
0-75 $4,125,000
It is understood that the Company's Total Automatic Coverage including the
Company's retention is: $15,000,000.
BIO RIDER:
The reinsurer agrees to accept twenty-five percent (25%) of the excess of
the Company's retention but not more than the following limits on any one
life:
AGES STD (100%) -- TABLE 4 (200%)
0-75 $1,500,000
It is understood that the Company's Total Automatic Coverage not including
the Company's retention is: $6,000,000.
59
EXHIBIT E
PAGE 2
APAR RIDER:
The Reinsurer agrees to accept an amount corresponding to its share of the
basic policy.
TABLE 4 PROGRAM:
The Reinsurer agrees to accept a twenty-five percent (25%) first dollar
quota share of each policy but not more than the following limits on any
one life:
AGES STD (100%) -- TABLE 4 (200%)
0-75 $1,250,000
The Reinsurer agrees to accept up to a one third quota share of any policy
submitted under the Table 4 program where the Company has either fully or
partially filled its retention on a life now applying under the Table 4
Program, (the above limit could be increased by up to $416,666).
W.P.: Not Covered
A.D.: Not Covered
JUMBO LIMIT:
Life:
-- Applies to the Table 4 Program:
$5,000,000 inforce and applied for on any one life.
-- Applies to all other plans originally issued under this treaty:
$25,000,000 inforce and applied for on any one life.
60
EXHIBIT F
REINSURANCE REPORTS
DATA NOTIFICATION: The Company shall send to the Reinsurer reports, in
substantial compliance with the Society of Actuaries Guidelines, at the times
indicated below:
REPORT FREQUENCY DUE DATE EXAMPLE REFERENCE
------ --------- -------- -----------------
1. Policy Detail Monthly 21st Exhibit F, pgs. 2 & 3
Report
(Reinsurance
Ceded)
2. Accounting & Monthly 21st Exhibit F, p. 4
Policy Exhibit
(Movement
Summary)
3. Valuation Reserve Annually Jan. 10th Exhibit F, p. 5
Certification
4. Quarterly Valuation Quarterly 10 days after Exhibit F, p. 6
Reserve quarter
5. Tax Reserve Annually June 1st Exhibit F, p. 6
Certification
PRELIMINARY ADVICE: If the Policy Detail Report (Reinsurance Ceded) is not being
sent on a monthly basis, the Company will send the Reinsurer each month a list
of all policies being reinsured automatically where the Reinsurer's share
exceeds $250,000.
NOTIFICATION OF ACCEPTANCE OF FACULTATIVE OFFER: The Company will advise the
Reinsurer of its acceptance of the Reinsurer's underwriting decision pertaining
to facultative business by sending written notice to the Reinsurer. The Company
shall provide the full details of the facultative new business on the next
Policy Detail Report.
ERRORS AND OMISSIONS: Should any items be inadvertently omitted from or entered
in error on a reinsurance report, such omissions or errors shall not affect the
liability of the Reinsurer in regard to any cession and the mistakes shall be
rectified upon discovery. This does not waive any rights outlined in Article X.
RESERVES:
FIRST THREE QUARTERS' RESERVES: Actual reserve figures are required within 10
days after the close of each of the first 3 quarters. Any estimated figures
provided should be confirmed by actual reserve figures.
YEAR END RESERVES: The Company shall advise the Reinsurer by January 10th of
each year of the amount of reserves calculated on the reinsurance in force under
this Agreement as of December 31st of the preceding year and will also indicate
the valuation method used. These reserves shall be certified by the Company's
valuation actuary.
61
EXHIBIT G
DAC TAX ELECTION
METHOD OF EXCHANGING INFORMATION
The Reinsurer and the Company agree to the DAC TAx Election and accordingly will
exchange information in the following manner:
1. The Company will submit a Schedule to the Reinsurer by May 1, of each year,
of its calculation of the net consideration (as referred to in Article XII)
for the preceding calendar year.
2. The Reinsurer, in turn, will complete the Schedule by indicating acceptance
of the Company's calculations of the net consideration or by noting any
discrepancies. The Reinsurer will return the completed Schedule to the
Company by June 1, of each year.
3. If there are any discrepancies between the Company's and the Reinsurer's
calculation of the net consideration, the parties will act in good faith to
resolve the discrepancies by July 1, of each year.
62
Addendum No. 1 to the Reinsurance Agreement referred to as No. _____, and
effective September 1, 1997 made between NATIONAL LIFE INSURANCE COMPANY
(hereinafter referred to as "the Company") and _______________________
(hereinafter referred to as "the Reinsurer").
It is hereby understood and agreed that effective May 1, 1999, the Reinsurer
will assume automatically a 20% share of policies issued by the Company under
the Table 4 Program (ie. policies issued by the Company and found to be rateable
up to and including Table 4 (200%) prior to reinsurance review) referred to in
Exhibit C provided the policy meets the following criteria:
1. Minimum Face Amount: $100,000
2. Maximum Face Amount: $5,000,000
3. Plan of Insurance: Any plan covered under this Agreement including joint
life. For joint life policies each life has to qualify under the program
for the policy to qualify. Any new pains added to the Agreement will need
prior Reinsurer approval to be included in this Table 4 Program.
4. Maximum Issue Age: 75, or the maximum age of the specific product if
younger.
5. Flat Extras: Policies with temporary flat extra ratings of $5.00/1000 or
less and have a duration of 2 years or less are also included. (Note,
combination ratings such as 150% plus $5.00/1000 for 2 years will not
qualify).
6. Underwriting Practices: This Agreement applies only to insurance
applications underwritten by the Company and for which conventional
underwriting and issue practices are consistently applied.
Subjective risks and business decisions will be excluded from this program,
(eg. Financial underwriting problems, group offers,
occupational/habits/moral risks). Credits will not be used to reduce a
higher rating to fit within the Table 1-4 range.
The Company will notify the Reinsurer of any change in underwriting or
issue practices or philosophy, or a change in underwriting management
personnel.
7. Prior Facultative Business: The Company will not submit policies under this
Table 4 Program that have been previously submitted on a faculative basis
to the Reinsurer.
It is further understood and agreed that the Reinsurer will assume up to 25% of
policies issued under the Table 4 Program if the Company has retained its full
retention on a prior policy.
63
Made in duplicate and executed by both parties.
Signed for and on behalf of NATIONAL LIFE INSURANCE COMPANY
By: /s/ By: /s/
----------------------------- -----------------------------
Title: VP & Actuary Title: Reinsurance Administrator
---------------------------- ----------------------------
Date: 12/3/99 Place: Montpelier, Vermont
---------------------------- ----------------------------
Signed for and on behalf of
By: By:
----------------------------- -----------------------------
Title: VP Life Marketing Title: VP Life Marketing
---------------------------- ----------------------------
Date: November 23, 1999 Place:
---------------------------- ----------------------------
64
ADDENDUM No. 2 to the Reinsurance Agreement referred to as No. _____, effective
September 1, 1997, made between:
NATIONAL LIFE INSURANCE COMPANY (hereinafter referred to as "the Company) and
___________________________(hereinafter referred to as "the Reinsurer").
It is hereby understood and agreed that effective the 1st day of January, 2000,
the special facultative reinsurance rates required under this Agreement for
Competitive Underwriting Program (CUP) business and for facultative excess
business no longer apply. The aforesaid business shll be reinsured using the
rates applicable to automatic business.
Special reinsurance rates will continue to apply to business under the Company's
Table 4 Program.
All other terms and conditiions remain unaltered.
Made in duplicate and executed by both parties.
Signed for and on behalf of NATIONAL LIFE INSURANCE COMPANY
By: /s/ By: /s/
----------------------------- -----------------------------
Title: VP & Actuary Title: Reinsurance Administrator
---------------------------- ----------------------------
Date: 3/21/00 Place: Montpelier, Vermont
---------------------------- ----------------------------
Signed for and on behalf of
By: By:
----------------------------- -----------------------------
Title: VP Life Marketing Title: 2nd VP
---------------------------- ----------------------------
Date: Xxxxx 00, 0000 Xxxxx:
---------------------------- ----------------------------
65
ADDENDUM No. 3 to the Reinsurance Agreement referred to as No. ___________
effective September 1, 1997, made between:
NATIONAL LIFE INSURANCE COMPANY (hereinafter referred to as "the Company") and
(hereinafter referred to as "the Reinsurer").
It is hereby declared and agreed that:
1. Exhibit A-1 (revised October 1, 1997), in the above Agreement shall be
replaced by the attached Exhibit A-1 (revised August 1, 1999) to add,
(a) effective August 1, 1999, coverage of the Company's 1999 Traditional
Whole Life LifeCare Series of products, and
(b) effective May 1, 2000, coverage of the Company's Long Term Care Rider
issued with the LifeCare Series of products; and
2. Two new premium classes are offered under the LifeCare Series. The new
Elite Preferred NonSmoker class shall be reinsured under the same terms set
forth in Exhibit C-1 for the current preferred Nonsmoker class. The new
Preferred Smoker class shall be reinsured under the same terms set forth in
Exhibit C-1 for the current Smoker class; and
3. Exhibit C-VI shall be added to this Agreement to set forth the reinsurance
terms for the Long Term Care Rider.
All other terms and conditions remain unaltered.
Made in duplicate and executed by both parties.
Signed for and on behalf of NATIONAL LIFE INSURANCE COMPANY
By: /s/ By: /s/
----------------------------- -----------------------------
Title: VP & Actuary Title: Reinsurance Administrator
---------------------------- ----------------------------
Date: September 19, 2000 Place: Montpelier, Vermont
---------------------------- ----------------------------
Signed for and on behalf of
By: By:
----------------------------- -----------------------------
Title: VP Life Marketing Title: 2nd VP
---------------------------- ----------------------------
Date: July 27, 2000 Place:
---------------------------- ----------------------------
66
EXHIBIT A-1
(REVISED AUGUST 1, 1999)
BUSINESS COVERED
EFFECTIVE DATE:
September 1, 1997. The commencement dates for specific business are shown below.
BUSINESS COVERED:
The policies on the plans shown below with policy issue dates falling in the
period that begins with the Commencement Date and ends with the Termination Date
are covered subject to any limitations shown below or elsewhere in this
Agreement.
Riders and supplementary benefits shall also be covered in accordance with the
Limitations, commencement Date and Termination Date of the base policy to which
they are attached unless stated otherwise.
The policies, riders and supplementary benefits are on lives resident in the
United States Reinsurace will also apply to policies which are on Non-US
residents. This coverage is limited to countries where the Company writes
business.
The Reinsurer shall not participate in policy loans nor be liable for any
dividend payments.
CURRENCY: US$
LIMITATIONS:
1. For policies on lives with surnames commencing with the letters A to Z
inclusive, and qualifying for automatic coverage, twenty-five percent (25%)
of the excess over the Company's retention up to the limits specified in
Exhibit E, will be reinsured with the Reinsurer. (Any application may be
offered on a facultative basis).
67
EXHIBIT A-1
(REVISED AUGUST 1, 1999)
PAGE 2
PLANS, RIDERS AND BENEFITS:
PLAN(S) AND EXHIBIT COMMENCEMENT TERMINATION
FORM NO(S). REFERENCE LIMITATIONS DATE DATE
---------------------------------------------------------------------------------------
JLLS C, C-II No. 1 above September 1, 1997
Individual C, C-I No. 1 above September 1, 1997
permanent
plans
Joint Life C, C-I No. 1 above September 1, 1997
First to Die
Survivorship C, C-III No. 1 above May 1, 1998
Universal Life
and Survivorship
Variable Universal
Life
All above listed C, C-I No. 1 above September 1, 1997
plans issued under
Table 4 program
LifeCare Series C, C-I No. 1 above September 1, 1997
(1999 Traditional
Whole Life products)
68
EXHIBIT A-1
(REVISED AUGUST 1, 1999)
PAGE 3
RIDERS
All individual riders, attached to the original plan, as issued by the Company.
Accelerated Benefits Rider
Additions Rider
Annual Premium Addition Riders (APAR)
Beneficiary Insurance Option Rider
C-SPAR (Commissionable Single Premium Adds Rider)
COL (Cost of Living Rider)
Exchange to a New Insured Rider
Flex Term Rider
Policy Continuation Rider
Survivor Purchase Option/Designated Second Life Rider
Additional Protection Benefit (APB)
Policy Split Option (PSO)
Estate Preservation Rider (EPR)
Continuing Coverage Rider (CCR)
Enhanced Death Benefit Rider (EDBR)
Automatic Increase Rider (AIR)
Long Term Care Rider (LTC -- also called Accelerated Care Rider; added May 1,
2000)
All above listed riders issued under the Table 4 program
BENEFITS
N/A
69
EXHIBIT C-VI
LONG TERM CARE (LTC) RIDER
INSTRUCTIONS FOR ADMINISTRATION
1. BASIS OF REINSURANCE: The Company shall pay to the Reinsurer a premium for
the Rider based upon the annual premium on the Rider without nonforfeiture
benefit, using the lifetime pay schedule but not including any policy fee
payable on the original. The applicable rates are attached to this Exhibit
C-VI.
The maximum amount of LTC Rider that will be issued in $1,000,000 in face
amount. The Company may automatically bind the Reinsurer for its
proportionate share of the rider up to age 75 only.
The LTC Rider will be issued on a standard or decline basis. The rider
will not be issued on a substandard basis. The rider may be issued at
standard through the Table 4 program as provided under the terms of this
Agreement.
NOTE: The Continuing Coverage Protection Rider (CCP) is not covered under
the terms of this Agreement.
2. PERCENTAGE ALLOWANCES: The following percentages shall be applied to the
reinsurance premiums payable:
Year 1
Thereafter
3. CLAIMS PROCESSING: The Company shall provide notification of claim to the
Reinsurer in accordance with the standard procedures set forth in this
Agreement. The Company shall likewise provide prompt notification to the
Reinsurer when claim payments cease. Claims adjudicatioin and
administration will be handled for the Company by _______________ . The
Company will notify the Reinsurer of the change in this arrangement.
Claim payments for the LTC Rider shall be deducted from the periodic
transaction statements submitted by the Company.
Reinsurance premiums for the LTC Rider will be waived during the period
that rider benefits are payable.
The face amount of the base policy is reduced monthly by the amount of LTC
benefits paid. The Reinsurer's share of the base risk shall reduce
proportionately.
70
ADDENDUM No. 4 to the Reinsurance Agreement referred to as No. ______________
effective September 1, 1997, made between:
NATIONAL LIFE INSURANCE COMPANY (hereinafter referred to as "the Company") and
_________________________________(hereinafter referred to as "the Reinsurer").
It is mutually agreed that effective June 1, 2001, Exhibit A-1, Riders, and
Exhibit C-VI, Instructions for Administration, shall be revised as attached to
provide reinsurance terms for the Non-Qualified Long Term Care Rider.
All other terms and conditions remain unaltered.
Made in duplicate and executed by both parties.
Signed for and on behalf of NATIONAL LIFE INSURANCE COMPANY
By: /s/ XXXXXXX X. DAY By: /s/
----------------------------- -----------------------------
Title: Associate Actuary Title: Reinsurance Administrator
---------------------------- ----------------------------
Date: 11/23/01 Place: Montpelier, Vermont
---------------------------- ----------------------------
Signed for and on behalf of
By: By:
----------------------------- -----------------------------
Title: VP Pricing Title: Vice President
---------------------------- ----------------------------
Date: 11/16/01 Place:
---------------------------- ----------------------------
71
EXHIBIT A-1
(REVISED JUNE 1, 1999)
PAGE 3
RIDERS
All individual riders, attached to the original plan, as issued by the Company.
Accelerated Benefits Rider
Additions Rider
Annual Premium Addition Riders (APAR)
Beneficiary Insurance Option Rider
C-SPAR (Commissionable Single Premium Adds Rider)
COL (Cost of Living Rider)
Exchange to a New Insured Rider
Flex Term Rider
Policy Continuation Rider
Survivor Purchase Option/Designated Second Life Rider
Additional Protection Benefit (APB)
Policy Split Option (PSO)
Estate Preservation Rider (EPR)
Continuing Coverage Rider (CCR)
Enhanced Death Benefit Rider (EDBR)
Automatic Increase Rider (AIR)
Long Term Care Rider (LTC -- also called Accelerated Care Rider; added May 1,
2000)
Non-Qualified Long Term Care Rider (LTC--also called Non-Qualified Accelerated
Care Rider; added June 1, 2001
All above listed riders issued under the Table 4 program
BENEFITS
N/A
72
EXHIBIT C-VI
(REVISED JUNE 1, 2001)
LONG TERM CARD (LTC) RIDER
AND
NON-QUALIFIED LONG TERM CARE (LTC) RIDER
INSTRUCTIONS FOR ADMINISTRATION
1. BASIS OF REINSURANCE: The Company shall pay to the Reinsurer a premium for
the Rider based upon the annual premium on the Rider without nonforfeiture
benefit, using the lifetime pay schedule but not including any policy fee
payable on the original. The applicable rates are attached to this Exhibit
C-VI.
The maximum amount of LTC Rider that will be issued is $1,000,000 in face
amount. The Company may automatically bind the Reinsurer for its
proportionate share of the rider up to age 75 only
The LTC Rider will be issued on a standard or decline basis. The rider will
not be issued on a substandard basis. The rider may be issued at standard
through the Table 4 program as provided under the terms of this Agreement.
NOTE: The Continuing Coverage Protection Rider (CCP) is not covered under
the terms of the Agreement.
2. PERCENTAGE ALLOWANCES: The following percentages shall be applied to the
reinsurance premiums payable:
Year 1
Thereafter
3. CLAIMS PROCESSING: The Company shall provide notification of claim to the
Reinsurer in accordance with the standard procedures set forth in this
Agreement. The Company shall likewise provide prompt notification to the
Reinsurer when claim payments cease. Claims adjudication and
administration will be handled for the Company by
__________________________. The Company will notify the Reinsurer of a
change in this arrangement.
Claim payments for the LTC Rider shall be deducted from the periodic
transaction statements submitted by the Company.
Reinsurance premiums for the LTC Rider will be waived during the period
that rider benefits are payable.
The face amount of the base policy is reduced monthly by the amount of LTC
benefits paid. The Reinsurer's share of the base risk shall reduce
proportionately.
73
ADDENDUM No. 5 to the Reinsurance Agreement referred to as No.________,
effective September 1, 1997, made between:
NATIONAL LIFE INSURANCE COMPANY (hereinafter referred to as "the Company") and
_________________________________(hereinafter referred to as "the Reinsurer").
Effective July 1, 2001, it is hereby agreed that the following sections of
Exhibit C-I, entitled Final Specifications, Accelerated Benefits Rider (ABR) and
dated May 29, 1997, will be revised for new and in force business:
B. LIMITATION ON THE CHRONICALLY ILL BENEFIT
4. The benefit will not be available until after the underlying life
insurance contract has reached its second anniversary.
M. ISSUE AMOUNTS -- MINIMUM AND MAXIMUM
The minimum policy size to which this rider can be attached at issue is
$25,000.
The Company will still reserve the right to set a maximum amount payable
under all Accelerated Benefit Riders on the life of one insured. This
amount will be no less than $1,000,000. This will be cumulative limit for
all accelerations in case of repeated partial accelerations.
All other terms and conditions remain unaltered.
Made in duplicate and executed by both parties.
Signed for and on behalf of NATIONAL LIFE INSURANCE COMPANY
By: /s/ XXXXXXX X. DAY By: /s/
----------------------------- -----------------------------
Title: Associate Actuary Title: Reinsurance Administrator
---------------------------- ----------------------------
Date: 12/19/01 Place: Montpelier, Vermont
---------------------------- ----------------------------
Signed for and on behalf of
By: By:
----------------------------- -----------------------------
Title: Executive Vice President Title: Second Vice President
---------------------------- ----------------------------
Date: 11/16/01 Place:
---------------------------- ----------------------------
74
ADDENDUM No. 6 to the Reinsurance Agreement referred to as No.________,
and effective January 1, 2002, made between:
NATIONAL LIFE INSURANCE COMPANY (hereinafter referred to as "the Company") and
_________________________________(hereinafter referred to as "the Reinsurer").
It is hereby declared and agreed that Exhibit A-1 of the above Agreement (and
page 3 Revised June, 2001), and Exhibits C, C-I, C-II, C-III, D and E of the
above Agreement shall be replaced by the attached corresponding Exhibits (all
Revised January 1, 2002), in order to revise the terms and rates for new
business issued from January 1, 2002 onwards.
Made in duplicate and executed by both parties.
Signed for and on behalf of NATIONAL LIFE INSURANCE COMPANY
By: /s/ XXXXXXX X. DAY By: /s/
----------------------------- -----------------------------
Title: Associate Actuary Title: Reinsurance Administrator
---------------------------- ----------------------------
Date: 11/08/02 Place: Montpelier, Vermont
---------------------------- ----------------------------
Signed for and on behalf of
By: By:
----------------------------- -----------------------------
Title: Vice President Title: AVP Treaty Services
---------------------------- ----------------------------
Date: October 21, 2002 Place:
---------------------------- ----------------------------
75
EXHIBIT A-1
(REVISED JANUARY 1, 2002)
BUSINESS COVERED
EFFECTIVE DATE:
September 1, 1997. The commencement dates for specific business are shown below.
BUSINESS COVERED:
The policies on the plans shown below with policy issue dates falling in the
period that begins with the Commencement Date and ends with the Termination Date
are covered subject to any limitations shown below or elsewhere in this
Agreement.
Riders and supplementary benefits shall also be covered in accordance with the
Limitations, commencement Date and Termination Date of the base policy to which
they are attached unless stated otherwise.
The policies, riders and supplementary benefits are on lives resident in the
United States Reinsurance will also apply to policies which are on Non-US
residents. This coverage is limited to countries where the Company writes
business.
The Reinsurer shall not participate in policy loans nor be liable for any
dividend payments.
CURRENCY: US$
LIMITATIONS:
1. For policies on lives with surnames commencing with the letters A to Z
inclusive, and qualifying for automatic coverage, twenty-five percent (25%)
of the excess over the Company's retention up to the limits specified in
Exhibit E, will be reinsured with the Reinsurer. (Any application may be
offered on a facultative basis).
2. For policies on lives with surnames commencing with the letters A to Z
inclusive, and qualifying for automatic coverage, a twenty percent (20%)
first dollar quota share up to the limits specified in Exhibit E, will be
reinsured with the Reinsurer. (Any application may be offered on a
facultative basis)>
3. For policies on lives with surnames commencing with the letters A to Z
inclusive, and qualifying for automatic coverage, fifty percent (50%) of
the excess over the Company's retention up to the limits specified in
Exhibit E, will be reinsured with the Reinsurer. )Any application may be
offered on a facultative basis.)
4. For policies on lives with surnames commencing with the letters A to Z
inclusive, and qualifying for automatic coverage, a forty percent (40%)
first dollar quota share up to the limits specified in Exhibit E, will be
reinsured with the Reinsurer. (any application may be offered on a
facultative basis).
76
EXHIBIT A-1
PAGE 2
(REVISED JANUARY 1, 2002)
PLANS, RIDERS AND BENEFITS:
PLAN(S) AND EXHIBIT COMMENCEMENT TERMINATION
FORM NO(S). REFERENCE LIMITATIONS DATE DATE
---------------------------------------------------------------------------------------
JLLS C, C-II No. 1 above September 1, 1997 December 31, 2001
C, C-II No. 3 above January 1, 2002
Individual C, C-I No. 1 above September 1, 1997 December 31, 2001
permanent C, C-I No. 3 above January 1, 2002
plans
Joint Life C, C-I No. 1 above September 1, 1997 December 31, 2001
First to Die C, C-I No. 3 above January 1, 2002
Survivorship C, C-III No. 1 above May 1, 1998 December 31, 2001
Universal Life C, C-III No. 3 above January 1, 2002
and Survivorship
Variable Universal
Life
All above listed C, C-I No. 1 above September 1, 1997 April 30, 1999
plans issued under C, C-I No. 2 above May 1, 1999 June 30, 2002
Table 4 program C, C-I No. 4 above July 1, 2002
77
EXHIBIT A-1
(REVISED JANUARY 1, 2002)
PAGE 3
RIDERS
All individual riders, attached to the original plan, as issued by the Company.
Accelerated Benefits Rider
Additions Rider
Annual Premium Addition Riders (APAR)
Beneficiary Insurance Option Rider
C-SPAR (Commissionable Single Premium Adds Rider)
COL (Cost of Living Rider)
Exchange to a New Insured Rider
Flex Term Rider
Policy Continuation Rider
Survivor Purchase Option/Designated Second Life Rider
Additional Protection Benefit (APB)
Policy Split Option (PSO)
Estate Preservation Rider (EPR)
Continuing Coverage Rider (CCR)
Enhanced Death Benefit Rider (EDBR)
Automatic Increase Rider (AIR)
Long Term Care Rider (LTC -- also called Accelerated Care Rider; added May 1,
2000)
Non-Qualified Long Term Care Rider (LTC--also called Non-Qualified Accelerated
Care Rider; added June 1, 2001
All above listed riders issued under the Table 4 program
BENEFITS
N/A
78
EXHIBIT C
(Revised January 1, 2002)
GENERAL TERMS
1.REINSURANCE BASIS: Yearly Renewable Term.
2.RATE CRITERIA: The rates set out in the sub-section(s) of Exhibit C shall be
used for automatic reinsurance of any policy covered by this Agreement. These
rates also apply to the reinsurance of a facultative policy covered by this
Agreement.
3.AGE BASIS: Nearest.
4.PREMIUM TAX: There shall be no separate reimbursement of Premium Tax.
5.RATE GUARANTEE: The reinsurance rates set out in the sub-section(s) of Exhibit
C of this Agreement cannot be guaranteed for more than one year. The reinsurance
rates, however, may not be increased beyond the appropriate one year term
premiums calculated on the 1980 C.S.O. smoke/non-smoker mortality table at 4.5%
interest. The Reinsurer reserves the right to increase the reinsurance rates if
the Company has increased its rates. If the Reinsurer increases the rates in
adbsence of a corresponding increase by the Company in its retail charges to the
policyholder, the Company reserves the right to recapture ceded business inforce
under this Agreement with appropriate notice and no recapture fee would apply.
6.MINIMUM INITIAL AUTOMATIC REINSURANCE LIMITS: $25,000.
MINIMUM INITIAL FACULTATIVE REINSURANCE LIMIT: $250,000 up to age 70 and
$100,001 for ages 71 and over.
MINIMUM FINAL REINSURANCE LIMIT: $25,000.
7. RATES APPLICABLE TO INCREASES: First year reinsurance rates and
commissions/allowances shall apply to the amount of a fully-underwritten
non-contractual increase.
8. YRT RATES FOR CONVERSIONS: It is understood that for policies issued under
the Company's Competitive Underwriting Program and which convert from a
term plan in Agreement N. to a permanent plan under this Agreement, the
policy arising from the conversion shall be reinsured under the current
terms and conditions for the permanent plan and the amount to be reinsured
shall continue in a like proportion to the amount ceded to the Reinsurer at
issue.
79
EXHBIT C
Page 2
(Revised January 1, 2002)
It is further agreed that for conversions of a term plan in Agreement No. to a
permanent plan under this Agreement, the Company shall recapture the policy
under conversion and reinsure one hundred percent (100%) of the excess over the
Company's retention under the current terms and conditions for the permanent
plans in the above agreement. The Reinsurer's share of the converted policy will
be equal to the Reinsurer's share as defined in this Agreement.
It is further agreed that for conversion of a fully-retained term plan in
Agreement No.________to a permanent plan under this Agreement, the proportionate
share of the amount in excess of the Company's retention at time of conversion
shall be reinsured under the current terms and conditions at point in scale
rates, provided that normal underwriting practices were followed when the term
plan was originally issued.
9.RECAPTURE: Due to Increase in the Company's Retention.
Inforce Period: 20 Years*
*Recapture under the Table 4 Program is independent of exercising any recapture
of any other regular issued policies ceded under this treaty. Recapture terms
would be negotiated at the time of recapture, and be agreed to by both parties.
Due to Insolvency of the Reinsurer
Inforce Period: Non Applicable.
The Recapture Fee applicable shall be mutually agreed upon by the Company and
the Reinsurer, its rehabilitator, conservator, liquidator or statutory
successor.
10. TABLE 4 PROGRAM: All policies issued by the Company and found to be
rateable up to and including Table 4 (200%) prior to reinsurance review
can be automatically issued to the Reinsurer at standard rates. The
Company will pay the Reinsurer of the current automatic reinsurance
premium rates for the corresponding plan for any policy eligible under
the Table 4 Program.
11. NET AMOUNTS AT RISK: The net amount at risk shall be the difference
between the gross amount of reinsurance and the cash values of the
Company applicable to the face amount reinsured and subject to the "ten
year level decrement" (if appropriate) method of approximation. However,
commuted values may be used, if applicable, to determine the net amount
at risk.
For Universal Life type plans, if the death benefit is Option A, the amount at
risk will be the difference between the initial amount of reinsurance and the
cash values applicable to the face amount reinsured. If the death benefit is
Option B, the amount at risk will be the initial amount of reinsurance.
80
EXHIBIT C-1
(Revised January 1, 2002)
YRT RATES
NON-EXPERIENCE RATED PREMIUM RATES
1.INSTRUCTIONS FOR ADMINISTRATION OF YRT RATES: The life reinsurance rates are
shown on a per thousand dollar basis and are equivalent to the following
percentages of the attached Extended SOA 90-95 Basic Select & Ultimate Age
Nearest, Sex Distinct tables.
AUTOMATIC AND FACULTATIVE
The following percentages apply to all single life plans and joint first-to-die
plans.
5 Class 4 Class 3 Class
Elite Preferred
Preferred Non Smoker
Standard Non Smoker
Preferred Smoker
Standard Smoker
There shall be no policy fee payable.
TABLE 4 PROGRAMS
All policies issued by the Company and found to be rateable up to and including
Table 4 (200%) prior to reinsurance review can be automatically issued to the
Reinsurer at standard rates. The Company will pay the Reinsurer of the current
automatic reinsurance premium rates for the corresponding plan for any policy
eligible under the Table 4 Program.
81
EXHIBIT C-1
Page 2
(Revised January 1, 2002)
2.MULTIPLE EXTRAS: For substandard risks issued at table ratings, multiply the
above rates by the appropriate mortality factor.
Table Rating Mortality Factor Table Rating Mortality Factor
1 OR A 125% 6 OR F 250%
1.5 AA 137% 7 G 275%
2 B 150% 8 H 300%
2.5 BB 162% 9 I 325%
3 C 175% 10 J 350%
4 D 200% 12 L 400%
5 E 225% 16 P 500%
3.FLAT EXTRAS: On all cessions the due proportion of any extra premiums payable
on account of additional mortality risk shall be payable to the Reinsurer.
4.ALLOWANCES ON FLAT EXTRAS:
When a flat extra is payable for 5 years or less, an allowance of of the gross
flat extra charged by the company will be made each year. When a flat premium is
payable for more than 5 years, an allowance of of the gross flat extra will be
charged by the Company will be made in the first year and an allowance of in
each year thereafter.
0.Xx is understood that permanent substandard extra premiums will terminate at
the end of 20 years or age 65, whichever is later.
82
SOA 25 Male ANB Action
Issue Age 1 2 3 4 5 6 7 8 9 10 11 12 13
0 0.90 0.49 0.32 0.22 0.14 0.14 0.15 0.15 0.16 0.16 0.16 0.20 0.26
1 0.40 0.29 0.19 0.14 0.14 0.14 0.15 0.15 0.15 0.14 0.18 0.22 0.28
2 0.28 0.19 0.14 0.14 0.14 0.14 0.15 0.14 0.13 0.16 0.19 0.25 0.29
3 0.17 0.13 0.13 0.13 0.14 0.14 0.13 0.12 0.15 0.18 0.24 0.28 0.39
4 0.13 0.13 0.13 0.14 0.13 0.13 0.12 0.14 0.18 0.23 0.28 0.39 0.64
5 0.13 0.13 0.13 0.13 0.12 0.12 0.14 0.17 0.22 0.27 0.39 0.64 0.75
6 0.13 0.13 0.13 0.12 0.12 0.14 0.17 0.22 0.26 0.38 0.64 0.75 0.83
7 0.13 0.12 0.12 0.12 0.13 0.17 0.21 0.26 0.37 0.64 0.74 0.83 0.84
8 0.12 0.12 0.12 0.13 0.16 0.20 0.25 0.37 0.64 0.74 0.83 0.84 0.86
9 0.12 0.12 0.13 0.16 0.19 0.25 0.36 0.64 0.74 0.83 0.84 0.86 0.86
10 0.12 0.13 0.15 0.19 0.25 0.35 0.64 0.74 0.81 0.81 0.85 0.85 0.86
11 0.12 0.15 0.18 0.24 0.34 0.64 0.74 0.81 0.81 0.85 0.85 0.86 0.86
12 0.14 0.17 0.24 0.33 0.64 0.74 0.81 0.81 0.83 0.84 0.85 0.85 0.86
13 0.16 0.23 0.32 0.64 0.74 0.81 0.81 0.82 0.83 0.84 0.84 0.85 0.87
14 0.22 0.31 0.64 0.73 0.81 0.81 0.82 0.83 0.84 0.83 0.84 0.86 0.88
15 0.30 0.75 0.73 0.81 0.81 0.81 0.81 0.82 0.83 0.84 0.85 0.88 0.92
16 0.64 0.73 0.81 0.80 0.81 0.79 0.80 0.81 0.82 0.84 0.86 0.91 1.01
17 0.73 0.81 0.80 0.81 0.79 0.80 0.81 0.82 0.83 0.86 0.88 0.98 1.13
18 0.81 0.80 0.81 0.79 0.79 0.79 0.80 0.81 0.84 0.87 0.97 1.08 1.27
19 0.79 0.79 0.78 0.77 0.77 0.78 0.79 0.82 0.87 0.97 1.02 1.23 1.27
20 0.77 0.72 0.73 0.72 0.70 0.72 0.74 0.79 0.87 1.01 1.11 1.22 1.23
21 0.67 0.64 0.65 0.66 0.68 0.69 0.77 0.83 0.87 0.96 1.08 1.17 1.19
22 0.63 0.60 0.61 0.61 0.65 0.73 0.82 0.83 0.81 0.91 1.02 1.12 1.15
23 0.56 0.53 0.55 0.59 0.65 0.75 0.82 0.77 0.74 0.92 1.02 1.12 1.17
24 0.47 0.49 0.50 0.59 0.67 0.81 0.72 0.73 0.88 0.94 1.03 1.12 1.17
25 0.39 0.43 0.49 0.60 0.71 0.70 0.70 0.86 0.90 0.97 1.03 1.11 1.18
26 0.36 0.42 0.49 0.63 0.69 0.69 0.82 0.85 0.91 0.99 1.03 1.10 1.16
27 0.33 0.41 0.51 0.60 0.67 0.73 0.77 0.85 0.93 1.00 1.08 1.12 1.22
28 0.33 0.45 0.52 0.62 0.68 0.75 0.81 0.88 0.95 1.05 1.08 1.16 1.26
29 0.32 0.45 0.53 0.62 0.69 0.77 0.84 0.91 0.99 1.07 1.15 1.25 1.35
30 0.32 0.44 0.53 0.62 0.70 0.79 0.87 0.94 1.00 1.11 1.21 1.32 1.44
31 0.30 0.43 0.53 0.63 0.72 0.80 0.90 0.95 1.03 1.14 1.26 1.40 1.59
32 0.29 0.41 0.53 0.63 0.73 0.82 0.91 1.00 1.10 1.16 1.31 1.52 1.78
33 0.31 0.43 0.56 0.66 0.77 0.86 0.98 1.06 1.13 1.23 1.40 1.64 1.94
34 0.33 0.45 0.58 0.70 0.80 0.92 1.04 1.12 1.21 1.34 1.53 1.80 2.15
35 0.35 0.47 0.60 0.72 0.84 0.97 1.09 1.20 1.33 1.52 1.71 1.99 2.35
36 0.37 0.49 0.62 0.75 0.88 1.00 1.14 1.30 1.50 1.69 1.96 2.19 2.54
37 0.39 0.50 0.64 0.77 0.90 1.04 1.23 1.46 1.65 1.92 2.14 2.38 2.76
38 0.42 0.56 0.71 0.82 0.95 1.12 1.36 1.61 1.89 2.12 2.32 2.59 3.01
39 0.45 0.62 0.76 0.88 1.03 1.24 1.52 1.81 2.08 2.31 2.53 2.86 3.31
83
SOA 25 Male ANB Action
Issue Age 1 2 3 4 5 6 7 8 9 10 11 12 13
40 0.49 0.67 0.83 0.96 1.14 1.38 1.72 2.01 2.25 2.51 2.80 3.20 3.68
41 0.52 0.72 0.91 1.08 1.28 1.56 1.92 2.20 2.44 2.78 3.13 3.61 4.10
42 0.55 0.80 1.03 1.22 1.45 1.75 2.12 2.41 2.70 3.12 3.52 4.08 4.59
43 0.58 0.84 1.09 1.32 1.57 1.87 2.25 2.61 2.96 3.42 3.86 4.48 4.99
44 0.62 0.90 1.16 1.41 1.68 2.00 2.43 2.86 3.27 3.77 4.24 4.94 5.53
45 0.68 0.97 1.23 1.49 1.80 2.17 2.65 3.15 3.63 4.18 4.68 5.42 6.28
46 0.76 1.04 1.29 1.58 1.95 2.39 2.91 3.48 4.05 4.64 5.14 5.93 6.78
47 0.84 1.10 1.35 1.70 2.15 2.65 3.20 3.87 4.53 5.13 5.62 6.32 7.35
48 0.90 1.19 1.49 1.88 2.34 2.86 3.48 4.23 4.95 5.62 6.03 6.80 7.98
49 0.98 1.31 1.67 2.09 2.55 3.10 3.79 4.60 5.40 6.01 6.49 7.41 8.77
50 1.08 1.46 1.87 2.33 2.80 3.37 4.10 4.98 5.73 6.45 7.07 8.17 9.72
51 1.20 1.63 2.12 2.61 3.08 3.64 4.43 5.26 6.12 7.00 7.79 9.08 10.74
52 1.34 1.84 2.41 2.94 3.37 3.92 4.65 5.57 6.59 7.69 8.66 10.06 11.76
53 1.41 1.99 2.66 3.23 3.70 4.24 5.10 6.17 7.36 8.62 9.73 11.13 12.88
54 1.47 2.16 2.92 3.54 3.98 4.62 5.66 6.93 8.29 9.64 10.83 12.23 13.94
55 1.54 2.34 3.20 3.78 4.29 5.09 6.36 7.85 9.31 10.68 11.97 13.27 14.96
56 1.59 2.51 3.42 4.06 4.68 5.67 7.20 8.86 10.35 11.75 13.07 14.28 16.03
57 1.63 2.64 3.68 4.40 5.16 6.38 8.14 9.91 11.44 12.78 14.17 15.35 17.10
58 1.77 2.81 3.91 4.82 5.81 7.24 9.05 10.80 12.24 13.59 15.00 16.28 18.37
59 1.94 3.03 4.21 5.32 6.52 8.13 9.99 11.62 12.99 14.42 15.80 17.42 19.81
60 2.15 3.30 4.57 5.85 7.25 9.07 10.90 12.41 13.76 15.23 16.79 18.70 21.43
61 2.41 3.63 4.93 6.37 8.00 9.99 11.80 13.22 14.49 16.23 17.88 20.14 23.22
62 2.73 3.98 5.26 6.88 8.73 10.92 12.75 14.02 15.40 17.34 19.65 21.72 25.19
63 2.90 4.38 5.93 7.71 9.69 11.94 13.79 15.37 17.00 19.15 21.23 24.35 28.29
64 3.04 4.79 6.59 8.57 10.74 12.98 15.05 16.91 18.83 21.18 23.61 27.19 32.04
65 3.16 5.17 7.28 9.51 11.84 14.25 16.49 18.67 20.90 23.46 26.16 30.60 36.58
66 3.23 5.54 8.02 10.49 13.16 15.69 18.13 20.64 23.22 25.89 29.24 34.74 41.71
67 3.25 5.92 8.80 11.67 14.68 17.35 19.96 22.86 25.70 26.82 32.95 39.40 47.54
68 4.03 6.89 9.96 13.01 16.02 18.83 21.71 24.66 27.61 30.93 35.29 41.74 49.34
69 4.90 8.04 11.30 14.54 17.52 20.47 23.52 26.83 29.89 33.13 37.73 43.89 55.28
70 5.94 9.37 12.85 16.28 19.18 22.17 25.71 29.44 32.30 35.42 40.08 50.76 61.12
71 7.14 10.93 14.62 18.24 20.93 24.21 28.33 32.27 35.39 37.64 45.65 57.68 76.77
72 8.55 12.72 16.63 20.36 23.03 26.66 31.20 35.37 37.47 43.58 53.48 74.56 86.22
73 9.06 13.25 18.47 21.16 24.41 28.12 32.37 37.20 43.34 50.05 72.44 83.98 96.73
74 9.94 14.45 20.28 23.44 27.04 31.77 36.41 43.34 50.05 68.99 79.26 92.57 105.29
75 10.44 15.87 22.46 25.95 30.57 35.08 41.52 50.05 66.40 75.49 88.41 101.81 117.73
76 11.46 17.58 24.87 29.97 33.76 40.06 47.66 62.96 71.71 84.25 97.19 113.89 128.99
77 12.69 19.47 27.58 33.10 38.61 45.28 53.47 67.94 80.09 93.72 110.05 127.59 139.83
78 14.06 21.58 30.45 37.15 43.69 51.74 61.33 74.89 90.24 106.21 124.78 138.31 150.61
79 15.59 23.83 33.51 41.31 47.43 59.45 70.73 85.62 102.37 120.57 136.79 148.97 163.59
84
SOA 25 Male ANB Action
Issue Age 1 2 3 4 5 6 7 8 9 10 11 12 13
80 17.21 26.22 36.54 45.71 51.90 67.61 80.99 98.54 116.37 133.75 147.34 161.81 179.98
81 18.94 28.60 39.67 51.90 62.41 78.67 94.70 112.16 130.71 145.70 160.03 178.05 200.65
82 20.65 31.05 45.29 59.29 71.73 90.86 106.55 125.39 142.43 158.26 178.05 198.51 223.69
83 22.42 37.74 52.01 69.42 85.74 102.35 121.59 139.15 154.70 176.11 196.38 222.52 242.43
84 26.42 43.68 61.16 83.18 98.14 117.04 137.51 151.14 172.24 194.24 220.18 242.43 258.46
85 36.40 52.06 70.38 92.53 112.48 130.97 149.37 172.24 194.24 217.84 242.43 258.39 272.42
86 43.97 63.98 81.32 106.40 126.05 145.81 170.30 192.11 215.49 241.17 258.32 272.42 280.31
87 53.75 77.11 95.76 119.51 142.25 166.43 189.97 214.32 239.91 258.24 272.42 280.31 289.67
88 67.30 91.20 109.68 133.36 162.56 189.97 213.15 239.91 258.17 272.42 280.31 289.67 312.84
89 80.56 106.41 128.03 154.82 185.71 210.81 239.91 258.11 272.42 280.31 289.67 312.84 339.44
90 98.22 124.47 145.15 179.30 210.81 238.64 258.04 272.42 280.31 289.67 312.84 339.44 369.98
91 113.80 143.21 170.76 203.78 234.85 257.96 272.42 280.31 289.67 312.84 339.44 369.98 405.13
92 131.60 166.49 199.10 229.80 257.74 272.42 280.31 289.67 312.84 339.44 369.98 405.13 445.65
93 153.69 199.10 227.28 257.23 272.42 280.31 289.67 312.84 339.44 369.98 405.13 445.65 494.67
94 187.39 227.28 255.59 272.42 280.31 289.67 312.84 339.44 369.98 405.13 445.65 494.67 554.03
95 217.18 253.73 272.42 280.31 289.67 312.84 339.44 369.98 405.13 445.65 494.67 554.03 626.05
96 248.39 272.42 280.31 289.67 312.84 339.44 369.98 405.13 445.65 494.67 554.03 626.05 707.44
97 272.42 280.31 289.67 312.84 339.44 369.98 405.13 445.65 494.67 554.03 626.05 707.44 799.40
98 280.31 289.67 312.84 339.44 369.98 405.13 445.65 494.67 554.03 626.05 707.44 799.40 863.36
99 289.67 312.84 339.44 369.98 405.13 445.65 494.67 554.03 626.05 707.44 799.40 863.36 906.52
85
SOA 25 Male ANB
Issue Age 14 15 16 17 18 19 20 21 22 23 24 25 26+
0 0.31 0.39 0.47 0.72 0.80 0.86 0.88 0.89 0.89 0.90 0.91 0.93 0.95
1 0.33 0.46 0.69 0.77 0.84 0.86 0.88 0.88 0.89 0.91 0.92 0.95 1.00
2 0.40 0.67 0.76 0.84 0.86 0.87 0.88 0.89 0.91 0.92 0.95 1.00 1.07
3 0.66 0.76 0.84 0.85 0.87 0.87 0.89 0.90 0.92 0.95 1.00 1.07 1.18
4 0.75 0.83 0.85 0.87 0.87 0.89 0.90 0.91 0.95 1.00 1.07 1.18 1.35
5 0.83 0.85 0.87 0.87 0.88 0.90 0.91 0.95 1.00 1.07 1.18 1.35 1.42
6 0.85 0.87 0.86 0.88 0.89 0.91 0.95 1.00 1.07 1.18 1.35 1.42 1.51
7 0.86 0.86 0.88 0.89 0.90 0.95 1.00 1.07 1.18 1.35 1.42 1.51 1.57
8 0.86 0.87 0.88 0.89 0.89 0.93 1.07 1.18 1.35 1.42 1.51 1.57 1.65
9 0.87 0.88 0.89 0.89 0.93 1.01 1.12 1.35 1.42 1.51 1.57 1.65 1.75
10 0.87 0.88 0.88 0.92 1.01 1.12 1.30 1.40 1.51 1.57 1.65 1.75 1.86
11 0.87 0.88 0.92 1.00 1.11 1.30 1.39 1.49 1.57 1.65 1.75 1.86 1.94
12 0.88 0.92 1.00 1.11 1.29 1.38 1.49 1.54 1.65 1.75 1.86 1.94 2.06
13 0.90 0.95 1.10 1.28 1.38 1.48 1.53 1.64 1.75 1.86 1.94 2.06 2.12
14 0.94 1.06 1.24 1.37 1.48 1.51 1.62 1.74 1.85 1.94 2.06 2.12 2.20
15 1.02 1.23 1.37 1.47 1.49 1.60 1.73 1.84 1.94 2.06 2.12 2.20 2.23
16 1.19 1.32 1.41 1.48 1.59 1.72 1.83 1.93 2.02 2.12 2.19 2.20 2.21
17 1.28 1.31 1.42 1.54 1.65 1.78 1.91 2.02 2.10 2.18 2.18 2.18 2.18
18 1.30 1.30 1.44 1.61 1.74 1.87 1.98 2.08 2.15 2.17 2.18 2.18 2.20
19 1.28 1.31 1.51 1.67 1.81 1.94 2.04 2.13 2.17 2.17 2.18 2.20 2.29
20 1.26 1.33 1.56 1.75 1.90 2.00 2.09 2.15 2.17 2.16 2.20 2.29 2.42
21 1.26 1.35 1.59 1.81 1.93 2.04 2.12 2.12 2.12 2.16 2.29 2.42 2.58
22 1.24 1.35 1.61 1.85 1.95 2.08 2.08 2.09 2.16 2.24 2.42 2.58 2.75
23 1.25 1.40 1.67 1.89 1.99 2.03 2.07 2.12 2.24 2.36 2.53 2.75 2.89
24 1.28 1.42 1.71 1.92 1.99 2.03 2.09 2.22 2.34 2.52 2.69 2.89 3.06
25 1.27 1.45 1.77 1.90 1.99 2.07 2.20 2.33 2.51 2.69 2.88 3.06 3.32
26 1.28 1.48 1.74 1.95 2.05 2.17 2.32 2.51 2.68 2.86 3.05 3.32 3.66
27 1.29 1.48 1.80 2.05 2.15 2.30 2.49 2.67 2.85 3.05 3.31 3.66 4.08
28 1.37 1.55 1.85 2.11 2.27 2.48 2.67 2.84 3.04 3.31 3.66 4.06 4.59
29 1.47 1.68 1.97 2.25 2.48 2.65 2.83 3.03 3.31 3.65 4.05 4.53 5.18
30 1.60 1.82 2.12 2.47 2.65 2.83 3.03 3.30 3.64 4.05 4.52 5.07 5.87
31 1.79 2.04 2.35 2.64 2.83 3.02 3.29 3.64 4.04 4.51 5.06 5.70 6.58
32 2.03 2.29 2.64 2.81 3.01 3.29 3.63 4.03 4.50 5.05 5.66 6.35 7.34
33 2.26 2.51 2.81 3.01 3.28 3.63 4.01 4.48 5.04 5.63 6.32 7.04 7.96
34 2.48 2.72 3.00 3.27 3.62 4.00 4.45 5.03 5.57 6.25 6.97 7.56 8.67
35 2.70 2.94 3.25 3.61 3.99 4.43 4.98 5.54 6.18 6.93 7.48 8.19 9.53
36 2.93 3.24 3.61 3.98 4.36 4.97 5.51 6.15 6.90 7.44 8.13 9.06 10.62
37 3.24 3.61 3.96 4.35 5.92 5.45 6.12 6.86 7.40 8.09 8.98 10.15 11.96
38 3.51 3.91 4.34 4.87 5.40 6.05 6.82 7.39 8.06 8.94 10.09 11.47 13.45
39 3.82 4.25 4.82 5.37 6.02 6.77 7.36 8.03 8.91 10.06 11.40 12.78 15.01
86
SOA 25 Male ANB
Issue Age 14 15 16 17 18 19 20 21 22 23 24 25 26+
40 4.17 4.64 5.34 5.99 6.75 7.32 8.00 8.87 10.02 11.36 12.71 14.13 16.65
41 4.61 5.07 5.95 6.71 7.30 7.98 8.84 9.99 11.32 12.64 14.11 15.57 18.27
42 5.04 5.64 6.68 7.27 7.94 8.80 9.95 11.28 12.61 14.03 15.49 16.88 19.90
43 5.64 6.32 7.24 7.92 8.77 9.91 11.24 12.57 13.96 15.40 16.81 18.21 21.66
44 6.29 6.87 7.89 8.72 9.86 11.15 12.51 13.88 15.32 16.72 18.11 19.49 23.44
45 6.84 7.51 8.68 9.82 11.07 12.48 13.81 15.24 16.63 18.01 19.27 20.63 25.57
46 7.48 8.31 9.77 10.94 12.36 13.73 15.15 16.53 17.91 19.06 20.39 22.25 27.95
47 8.27 9.37 10.88 12.24 13.70 15.15 16.44 17.71 18.84 20.16 21.99 24.04 30.63
48 9.17 10.58 12.17 13.66 15.07 16.42 17.61 18.73 20.04 21.74 23.62 26.19 33.57
49 10.26 11.90 13.55 15.00 16.33 17.47 18.62 19.92 21.48 23.20 25.73 28.53 36.81
50 11.45 13.26 14.86 16.26 17.40 18.52 19.81 21.23 22.92 25.27 28.03 31.10 40.15
51 12.66 14.69 16.12 17.32 18.41 19.62 21.10 22.64 24.81 27.53 30.55 33.52 44.09
52 13.90 16.06 17.22 18.30 19.46 20.97 22.36 24.50 27.19 29.81 32.92 38.36 46.83
53 14.90 16.91 18.19 19.34 20.71 22.22 24.41 26.85 29.45 32.32 37.92 43.94 54.07
54 15.84 17.76 19.22 20.59 22.08 24.29 26.69 29.26 31.92 37.04 43.21 50.29 59.95
55 16.82 18.55 20.46 21.94 24.20 26.52 29.08 31.72 36.59 42.48 49.21 56.35 66.19
56 17.76 19.53 21.80 24.04 26.35 28.89 31.52 36.37 41.99 48.66 55.15 63.55 72.84
57 18.92 20.60 23.89 26.18 28.71 31.32 36.15 41.50 48.12 54.55 62.22 71.38 79.43
58 20.56 22.49 26.02 28.53 31.19 35.93 41.01 47.58 53.65 61.56 70.66 78.64 86.24
59 22.43 24.59 28.34 31.03 35.71 40.53 47.04 53.05 60.90 69.93 78.24 85.38 94.36
60 24.50 26.93 30.83 35.61 40.28 46.50 52.45 60.24 69.20 77.85 84.95 93.60 104.01
61 26.81 29.38 35.27 40.04 45.96 51.55 59.57 68.47 77.45 84.77 93.51 103.28 115.70
62 29.22 33.63 39.79 45.69 51.56 59.24 67.74 77.05 84.52 93.42 103.18 115.58 127.97
63 33.24 38.45 45.42 51.26 58.91 67.38 76.65 84.34 93.32 103.08 115.58 127.84 140.20
64 38.11 43.91 50.96 58.58 67.01 76.26 84.08 93.23 102.97 115.47 127.84 140.06 151.99
65 43.64 49.96 58.25 66.65 75.86 83.83 93.13 102.87 115.35 127.71 139.92 151.84 163.71
66 49.93 57.33 66.29 75.46 83.65 93.04 102.76 115.24 127.58 139.78 151.69 163.71 177.82
67 56.83 65.47 75.07 83.31 92.85 102.66 115.12 127.46 139.64 151.54 163.54 177.82 193.53
68 58.13 71.92 83.05 92.66 102.45 115.00 127.33 139.50 151.39 163.38 177.64 193.53 213.45
69 68.70 81.11 92.57 102.24 114.89 127.20 139.50 151.39 163.22 177.46 193.33 213.45 234.23
70 79.06 91.17 102.14 114.77 127.07 139.36 151.23 163.22 177.46 193.33 213.24 234.23 252.53
71 89.29 101.61 114.66 126.94 139.36 151.23 163.05 177.28 193.14 213.24 234.00 252.53 267.09
72 99.38 112.13 126.82 139.22 151.08 162.89 177.10 192.95 213.03 233.76 252.28 267.09 272.42
73 108.76 125.41 137.40 148.95 162.07 176.04 191.59 209.19 232.83 250.01 260.19 272.42 280.31
74 121.57 134.60 147.43 160.43 174.26 189.66 207.05 232.36 250.01 259.97 272.42 280.31 289.67
75 131.79 145.91 158.80 172.48 187.72 207.05 230.72 250.01 259.73 272.42 280.31 289.67 312.84
76 144.39 155.52 170.70 185.79 204.92 230.72 247.48 259.50 272.42 280.31 289.67 312.84 339.44
77 155.52 168.92 183.85 204.92 229.55 247.48 259.26 272.42 280.31 289.67 312.84 339.44 369.98
78 167.15 181.92 202.78 227.21 244.96 259.04 272.42 280.31 289.67 312.84 339.44 369.98 405.13
79 181.92 202.78 227.21 244.96 258.80 272.42 280.31 289.67 312.84 339.44 369.98 405.13 445.65
87
SOA 25 Male ANB
Issue Age 14 15 16 17 18 19 20 21 22 23 24 25 26+
80 200.65 226.03 244.96 258.74 272.42 280.31 289.67 312.84 339.44 369.98 405.13 445.65 494.67
81 224.86 244.96 258.67 272.42 280.31 289.67 312.84 339.44 369.98 405.13 445.65 494.67 554.03
82 243.69 258.67 272.42 280.31 289.67 312.84 339.44 369.98 405.13 445.65 494.67 554.03 626.05
83 258.53 272.42 280.31 289.67 312.84 339.44 369.98 405.13 445.65 494.67 554.03 626.05 707.44
84 272.42 280.31 289.67 312.84 339.44 369.98 405.13 445.65 494.67 554.03 626.05 707.44 799.40
85 280.31 289.67 312.84 339.44 369.98 405.13 445.65 494.67 554.03 626.05 707.44 799.40 863.36
86 289.67 312.84 339.44 369.98 405.13 445.65 494.67 554.03 626.05 707.44 799.40 863.36 906.52
87 312.84 339.44 369.98 405.13 445.65 494.67 554.03 626.05 707.44 799.40 863.36 906.52 933.72
88 339.44 369.98 405.13 445.65 494.67 554.03 626.05 707.44 799.40 863.36 906.52 933.72 952.39
89 369.98 405.13 445.65 494.67 554.03 626.05 707.44 799.40 863.36 906.52 933.72 952.39 966.68
90 405.13 445.65 494.67 554.03 626.05 707.44 799.40 863.36 906.52 933.72 952.39 966.68 976.35
91 445.65 494.67 554.03 626.05 707.44 799.40 863.36 906.52 933.72 952.39 966.68 976.35 981.23
92 494.67 554.03 626.05 707.44 799.40 863.36 906.52 933.72 952.39 966.68 976.35 981.23 986.14
93 554.03 626.05 707.44 799.40 863.36 906.52 933.72 952.39 966.68 976.35 981.23 986.14 991.07
94 626.05 707.44 799.40 863.36 906.52 933.72 952.39 966.68 976.35 981.23 986.14 991.07 996.02
95 707.44 799.40 863.36 906.52 933.72 952.39 966.68 976.35 981.23 986.14 991.07 996.02 1000.00
96 799.40 863.36 906.52 933.72 952.39 966.68 976.35 981.23 986.14 991.07 996.02 1000.00 0.00
97 863.36 906.52 933.72 952.39 966.68 976.35 981.23 986.14 991.07 996.02 1000.00 0.00 0.00
98 906.52 933.72 952.39 966.68 976.35 981.23 986.14 991.07 996.02 1000.00 0.00 0.00 0.00
99 933.72 952.39 966.68 976.35 981.23 986.14 991.07 996.02 1000.00 0.00 0.00 0.00 0.00
88
SOA 25 Female ANB
Issue Age 1 2 3 4 5 6 7 8 9 10 11 12 13
0 0.50 0.34 0.23 0.16 0.12 0.11 0.13 0.15 0.15 0.16 0.16 0.17 0.21
1 0.26 0.21 0.14 0.11 0.10 0.13 0.14 0.15 0.15 0.16 0.17 0.19 0.21
2 0.19 0.13 0.10 0.10 0.13 0.14 0.14 0.15 0.16 0.17 0.18 0.20 0.24
3 0.11 0.10 0.09 0.12 0.13 0.14 0.15 0.16 0.16 0.17 0.19 0.24 0.28
4 0.09 0.09 0.11 0.13 0.14 0.14 0.15 0.16 0.17 0.19 0.24 0.28 0.32
5 0.09 0.10 0.12 0.13 0.14 0.15 0.16 0.16 0.18 0.23 0.28 0.32 0.33
6 0.10 0.11 0.12 0.13 0.14 0.15 0.16 0.18 0.23 0.28 0.32 0.33 0.34
7 0.11 0.11 0.12 0.14 0.15 0.16 0.18 0.23 0.28 0.32 0.33 0.33 0.32
8 0.11 0.11 0.13 0.15 0.15 0.18 0.22 0.28 0.32 0.33 0.33 0.32 0.34
9 0.11 0.12 0.14 0.15 0.17 0.22 0.28 0.32 0.33 0.33 0.31 0.34 0.35
10 0.12 0.13 0.15 0.17 0.21 0.28 0.32 0.33 0.32 0.30 0.33 0.34 0.33
11 0.13 0.14 0.17 0.21 0.28 0.32 0.33 0.32 0.30 0.32 0.33 0.33 0.36
12 0.14 0.16 0.20 0.26 0.32 0.33 0.31 0.30 0.31 0.32 0.32 0.36 0.37
13 0.16 0.18 0.24 0.30 0.32 0.31 0.29 0.31 0.31 0.32 0.35 0.36 0.37
14 0.18 0.23 0.28 0.31 0.30 0.29 0.30 0.31 0.31 0.34 0.35 0.35 0.37
15 0.18 0.28 0.31 0.30 0.28 0.30 0.30 0.30 0.32 0.34 0.34 0.36 0.39
16 0.28 0.30 0.29 0.28 0.30 0.30 0.29 0.32 0.33 0.34 0.35 0.37 0.40
17 0.30 0.29 0.27 0.29 0.30 0.29 0.29 0.33 0.33 0.34 0.36 0.39 0.42
18 0.27 0.25 0.28 0.30 0.29 0.28 0.30 0.32 0.32 0.35 0.38 0.40 0.45
19 0.23 0.27 0.30 0.28 0.28 0.29 0.31 0.32 0.34 0.37 0.39 0.44 0.53
20 0.22 0.26 0.27 0.28 0.29 0.30 0.30 0.33 0.35 0.38 0.43 0.50 0.57
21 0.19 0.22 0.24 0.27 0.28 0.29 0.32 0.35 0.37 0.41 0.47 0.54 0.61
22 0.16 0.19 0.22 0.26 0.29 0.31 0.33 0.36 0.40 0.46 0.53 0.60 0.69
23 0.16 0.19 0.22 0.25 0.29 0.32 0.34 0.38 0.45 0.53 0.60 0.67 0.73
24 0.16 0.19 0.22 0.26 0.30 0.32 0.36 0.42 0.52 0.59 0.67 0.73 0.79
25 0.16 0.19 0.23 0.27 0.29 0.33 0.39 0.48 0.59 0.66 0.72 0.79 0.83
26 0.16 0.20 0.24 0.27 0.29 0.35 0.43 0.54 0.65 0.72 0.79 0.81 0.81
27 0.17 0.20 0.24 0.27 0.31 0.38 0.47 0.59 0.72 0.78 0.80 0.79 0.82
28 0.17 0.20 0.25 0.30 0.35 0.41 0.50 0.61 0.72 0.78 0.78 0.78 0.83
29 0.17 0.21 0.27 0.33 0.38 0.45 0.53 0.62 0.72 0.77 0.76 0.78 0.87
30 0.17 0.22 0.29 0.36 0.42 0.48 0.54 0.63 0.70 0.73 0.75 0.81 0.94
31 0.18 0.24 0.31 0.38 0.45 0.50 0.56 0.62 0.66 0.70 0.76 0.88 1.05
32 0.19 0.26 0.33 0.40 0.47 0.52 0.59 0.60 0.67 0.73 0.80 0.97 1.18
33 0.20 0.27 0.35 0.43 0.51 0.56 0.59 0.64 0.70 0.80 0.95 1.13 1.33
34 0.21 0.28 0.37 0.46 0.54 0.59 0.63 0.70 0.80 0.94 1.12 1.32 1.58
35 0.21 0.29 0.38 0.48 0.56 0.62 0.68 0.79 0.94 1.11 1.31 1.55 1.72
36 0.20 0.29 0.39 0.49 0.58 0.67 0.77 0.92 1.11 1.30 1.53 1.69 1.95
37 0.20 0.29 0.39 0.50 0.61 0.75 0.90 1.07 1.28 1.52 1.67 1.94 2.17
38 0.22 0.32 0.42 0.53 0.67 0.83 0.99 1.16 1.40 1.65 1.93 2.15 2.39
39 0.24 0.35 0.46 0.59 0.76 0.93 1.09 1.28 1.52 1.78 2.06 2.31 2.61
89
SOA 25 Female ANB
Issue Age 1 2 3 4 5 6 7 8 9 10 11 12 13
40 0.26 0.38 0.52 0.68 0.85 1.02 1.21 1.40 1.65 1.91 2.21 2.50 2.85
41 0.29 0.44 0.61 0.78 0.95 1.14 1.34 1.54 1.79 2.06 2.37 2.72 3.09
42 0.33 0.52 0.70 0.88 1.07 1.27 1.48 1.69 1.94 2.23 2.56 2.93 3.33
43 0.37 0.59 0.79 1.01 1.22 1.43 1.66 1.88 2.16 2.49 2.85 3.26 3.71
44 0.41 0.66 0.91 1.15 1.39 1.62 1.86 2.10 2.41 2.76 3.16 3.62 4.14
45 0.45 0.74 1.03 1.31 1.58 1.83 2.09 2.39 2.68 3.05 3.50 4.04 4.53
46 0.50 0.84 1.17 1.49 1.80 2.08 2.37 2.67 2.97 3.37 3.88 4.47 4.98
47 0.55 0.94 1.33 1.70 2.05 2.37 2.56 2.94 3.29 3.72 4.28 4.95 5.46
48 0.61 1.05 1.48 1.87 2.23 2.55 2.88 3.20 3.60 4.06 4.66 5.39 6.00
49 0.66 1.16 1.66 2.06 2.41 2.74 3.11 3.49 3.92 4.42 5.06 5.80 6.63
50 0.73 1.30 1.87 2.26 2.59 2.93 3.36 3.79 4.26 4.80 5.44 6.25 7.19
51 0.80 1.46 2.09 2.47 2.77 3.14 3.62 4.10 4.63 5.16 5.84 6.72 7.77
52 0.88 1.63 2.32 2.69 2.97 3.35 3.88 4.43 4.96 5.54 6.27 7.21 8.40
53 0.98 1.75 2.46 2.86 3.16 3.56 4.11 4.65 5.23 5.85 6.59 7.58 8.94
54 1.08 1.88 2.60 3.01 3.36 3.77 4.29 4.87 5.51 6.15 6.91 8.04 9.59
55 1.19 2.02 2.73 3.16 3.55 3.95 4.47 5.10 5.78 6.46 7.32 8.60 10.19
56 1.31 2.15 2.85 3.31 3.71 4.13 4.65 5.31 6.05 6.85 7.81 9.11 10.63
57 1.44 2.29 2.97 3.41 3.87 4.31 4.81 5.52 6.39 7.60 8.82 9.93 11.05
58 1.47 2.44 3.24 3.82 4.30 4.78 5.41 6.32 7.39 8.56 9.65 11.00 12.12
59 1.50 2.57 3.52 4.27 4.75 5.29 6.15 7.29 8.46 9.52 10.86 11.49 13.41
60 1.49 2.70 3.84 4.75 5.29 5.93 7.03 8.33 9.49 10.71 11.47 12.79 15.02
61 1.47 2.83 4.17 5.28 5.87 6.69 7.98 9.33 10.63 11.46 12.74 14.96 17.06
62 1.44 2.96 4.53 5.67 6.62 7.50 8.88 10.43 11.46 12.65 14.76 16.89 19.31
63 1.60 3.10 4.70 6.17 6.83 7.61 8.99 10.64 12.50 14.71 16.72 19.14 21.61
64 1.79 3.27 4.90 6.33 6.90 7.69 9.11 10.92 13.25 16.24 18.96 21.08 23.71
65 2.01 3.48 5.05 6.34 6.93 7.77 9.26 11.30 14.21 17.87 21.08 23.14 26.15
66 2.28 3.67 5.09 6.32 6.94 7.87 9.48 11.80 15.17 19.28 22.98 25.54 29.30
67 2.57 3.78 5.10 6.27 7.47 8.80 9.78 12.22 15.85 20.40 25.18 28.64 33.25
68 2.89 4.24 5.70 7.06 8.11 9.66 11.73 14.06 17.36 21.74 26.56 30.62 36.07
69 3.24 4.76 6.42 8.04 9.54 11.52 13.73 15.84 19.12 23.54 28.33 32.70 39.36
70 3.63 5.38 7.31 9.26 11.16 13.43 15.70 18.55 21.39 25.83 30.18 35.09 42.89
71 4.11 6.16 8.43 10.68 12.78 15.29 17.98 21.13 24.24 28.35 32.29 37.55 46.16
72 4.71 7.13 9.70 12.03 14.32 17.46 20.88 23.81 27.48 31.30 34.45 39.63 49.66
73 5.66 7.53 10.94 13.16 15.76 19.03 23.11 26.19 30.35 34.59 38.94 44.45 55.14
74 6.28 8.20 11.70 14.18 17.30 21.18 25.76 29.39 34.05 38.94 43.13 49.26 61.97
75 6.84 8.77 12.61 15.57 19.26 23.61 28.91 32.97 37.74 43.13 47.79 55.36 69.62
76 7.31 9.46 13.84 17.33 21.46 26.50 32.43 36.54 41.80 47.79 53.71 62.19 78.66
77 7.88 10.38 15.41 19.32 24.09 29.73 35.94 40.47 46.32 53.71 60.34 72.45 89.56
78 8.65 11.55 17.17 21.68 27.03 32.95 39.81 44.85 52.06 60.34 70.38 83.82 99.92
79 9.63 12.88 19.27 24.32 29.95 36.49 44.11 50.40 58.48 70.38 82.67 97.42 113.71
90
SOA 25 Female ANB
Issue Age 1 2 3 4 5 6 7 8 9 10 11 12 13
80 10.73 14.45 21.62 26.96 33.17 40.43 49.58 57.55 68.31 82.67 94.92 104.35 123.82
81 12.04 16.22 23.96 29.86 38.96 47.92 55.70 67.27 80.37 93.67 101.67 115.18 138.69
82 13.51 17.97 26.54 34.55 45.45 53.84 65.20 78.07 89.93 100.34 113.74 132.43 156.79
83 14.98 22.03 31.61 41.31 51.06 63.13 75.78 87.43 97.85 112.52 132.00 156.43 187.17
84 18.58 28.19 37.18 48.34 59.51 74.63 84.93 97.29 111.74 131.55 156.06 186.89 223.25
85 24.26 35.93 45.29 58.87 71.44 84.22 96.99 111.25 130.87 155.68 186.60 223.09 257.77
86 31.88 45.13 55.81 70.81 83.62 96.43 110.99 130.42 155.11 186.32 222.92 257.77 259.91
87 40.99 55.63 67.79 83.01 95.88 110.49 130.20 154.73 185.89 222.76 257.77 259.91 272.42
88 51.49 67.72 80.14 95.32 109.98 129.75 154.53 185.60 222.50 257.77 259.91 272.42 294.21
89 63.53 79.97 92.68 109.48 129.30 154.16 185.44 222.34 257.77 259.91 272.42 294.21 319.22
90 76.08 92.54 107.12 128.86 153.78 185.15 222.27 257.77 259.81 272.42 294.21 319.22 347.95
91 88.96 106.99 126.77 153.42 184.89 222.11 257.77 259.81 272.42 294.21 319.22 347.95 381.01
92 103.78 126.66 151.65 184.60 221.94 257.77 259.81 272.42 294.21 319.22 347.95 381.01 419.11
93 123.82 151.54 183.25 221.78 257.77 259.81 272.42 294.21 319.22 347.95 381.01 419.11 463.11
94 149.16 183.17 221.01 257.77 259.81 272.42 294.21 319.22 347.95 381.01 419.11 463.11 514.06
95 181.35 220.97 257.77 259.81 272.42 294.21 319.22 347.95 381.01 419.11 463.11 514.06 575.74
96 219.94 257.77 259.81 272.42 294.21 319.22 347.95 381.01 419.11 463.11 514.06 575.74 650.59
97 257.77 259.81 272.42 294.21 319.22 347.95 381.01 419.11 463.11 514.06 575.74 650.59 741.67
98 259.81 272.42 294.21 319.22 347.95 381.01 419.11 463.11 514.06 575.74 650.59 741.67 852.92
99 272.42 294.21 319.22 347.95 381.01 419.11 463.11 514.06 575.74 650.59 741.67 852.92 912.15
91
SOA 25 Female ANB
Issue Age 14 15 16 17 18 19 20 21 22 23 24 25 26+
0 0.24 0.27 0.28 0.32 0.33 0.34 0.36 0.38 0.39 0.39 0.40 0.41 0.41
1 0.25 0.28 0.32 0.33 0.34 0.36 0.38 0.39 0.39 0.40 0.41 0.41 0.42
2 0.28 0.32 0.33 0.34 0.36 0.38 0.39 0.39 0.40 0.41 0.41 0.42 0.44
3 0.32 0.33 0.34 0.36 0.38 0.39 0.39 0.40 0.41 0.41 0.42 0.44 0.47
4 0.33 0.34 0.36 0.38 0.39 0.39 0.40 0.41 0.41 0.42 0.44 0.47 0.48
5 0.34 0.36 0.38 0.39 0.39 0.40 0.41 0.41 0.42 0.44 0.47 0.48 0.51
6 0.34 0.36 0.39 0.39 0.40 0.41 0.41 0.42 0.44 0.47 0.48 0.51 0.56
7 0.36 0.37 0.39 0.40 0.41 0.41 0.42 0.44 0.47 0.48 0.51 0.56 0.63
8 0.36 0.35 0.40 0.41 0.41 0.42 0.44 0.47 0.48 0.51 0.56 0.63 0.70
9 0.35 0.38 0.41 0.41 0.42 0.44 0.47 0.48 0.51 0.56 0.63 0.70 .077
10 0.37 0.38 0.41 0.42 0.44 0.47 0.48 0.51 0.56 0.63 0.70 0.77 0.83
11 0.37 0.40 0.42 0.44 0.47 0.48 0.51 0.56 0.63 0.70 0.77 0.83 0.88
12 0.40 0.39 0.44 0.47 0.48 0.51 0.56 0.63 0.70 0.77 0.83 0.88 0.93
13 0.39 0.42 0.47 0.48 0.51 0.56 0.63 0.70 0.77 0.83 0.88 0.93 0.96
14 0.40 0.44 0.48 0.51 0.56 0.63 0.70 0.77 0.83 0.88 0.93 0.96 0.96
15 0.43 0.45 0.51 0.56 0.63 0.70 0.77 0.83 0.88 0.93 0.96 0.96 0.96
16 0.43 0.47 0.56 0.63 0.70 0.77 0.83 0.88 0.93 0.96 0.96 0.96 1.00
17 0.46 0.53 0.63 0.70 .077 0.83 0.88 0.93 0.96 0.96 0.96 1.00 1.07
18 0.53 0.61 0.70 .077 0.83 0.88 0.93 0.96 0.96 0.96 1.00 1.07 1.19
19 0.61 0.69 0.77 0.83 0.88 0.93 0.96 0.96 0.96 1.00 1.07 1.19 1.32
20 0.66 0.74 0.81 0.88 0.93 0.96 0.96 0.96 1.00 1.07 1.19 1.32 1.45
21 0.70 0.79 0.86 0.92 0.96 0.96 0.96 1.00 1.07 1.19 1.32 1.45 1.62
22 0.74 0.83 0.90 0.95 0.95 0.96 1.00 1.07 1.19 1.32 1.45 1.62 1.80
23 0.79 0.88 0.94 0.95 0.96 1.00 1.07 1.19 1.32 1.45 1.62 1.80 2.00
24 0.84 0.92 0.94 0.96 0.99 1.07 1.19 1.32 1.45 1.62 1.80 2.00 2.22
25 0.88 0.93 0.95 0.99 1.07 1.19 1.32 1.45 1.62 1.80 2.00 2.22 2.47
26 0.89 0.95 0.99 1.07 1.19 1.32 1.45 1.62 1.80 2.00 2.22 2.47 2.77
27 0.91 0.99 1.07 1.19 1.32 1.45 1.62 1.80 2.00 2.22 2.47 2.77 3.13
28 0.95 1.07 1.19 1.32 1.45 1.62 1.80 2.00 2.22 2.47 2.77 3.13 3.52
29 1.04 1.19 1.32 1.45 1.62 1.80 1.99 2.22 2.47 2.77 3.13 3.52 3.93
30 1.16 1.32 1.45 1.62 1.80 1.99 2.21 2.47 2.77 3.13 3.52 3.93 4.37
31 1.29 1.45 1.62 1.79 1.99 2.21 2.46 2.77 3.12 3.52 3.93 4.37 4.85
32 1.43 1.62 1.79 1.99 2.21 2.46 2.77 3.11 3.50 3.93 4.37 4.85 5.36
33 1.60 1.79 1.99 2.21 2.46 2.76 3.10 3.48 3.89 4.37 4.85 5.36 5.92
34 1.78 1.99 2.21 2.46 2.76 3.07 3.45 3.85 4.30 4.85 5.36 5.92 6.52
35 1.98 2.20 2.45 2.75 3.07 3.41 3.81 4.26 4.75 5.31 5.92 6.52 7.09
36 2.20 2.44 2.75 3.05 3.38 3.77 4.23 4.71 5.25 5.85 6.52 7.09 7.71
37 2.42 2.72 3.04 3.36 3.73 4.19 4.71 5.23 5.80 6.43 7.06 7.71 8.38
38 2.68 2.97 3.34 3.67 4.17 4.68 5.20 5.74 6.33 7.04 7.69 8.34 9.07
39 2.93 3.23 3.65 4.10 4.67 5.17 5.68 6.26 6.95 7.67 8.30 8.98 9.81
92
SOA 25 Female ANB
Issue Age 14 15 16 17 18 19 20 21 22 23 24 25 26+
40 3.18 3.49 3.99 4.58 5.15 5.62 6.20 6.88 7.56 8.26 8.89 9.71 10.74
41 3.44 3.76 4.45 5.08 5.56 6.16 6.81 7.48 8.21 8.85 9.67 10.67 11.90
42 3.71 4.15 4.93 5.50 6.10 6.74 7.37 8.17 8.80 9.62 10.64 11.84 13.14
43 4.14 4.56 5.42 6.03 6.67 7.25 8.05 8.71 9.57 10.58 11.81 13.00 14.27
44 4.55 5.03 5.96 6.60 7.21 7.96 8.66 9.47 10.53 11.80 12.97 14.06 15.50
45 5.01 5.54 6.47 7.10 7.88 8.62 9.42 10.48 11.78 12.87 13.92 15.19 16.86
46 5.53 6.07 7.01 7.80 8.57 9.37 10.42 11.76 12.79 13.85 15.04 16.44 18.42
47 6.01 6.69 7.71 8.53 9.32 10.37 11.73 12.74 13.70 14.88 16.35 17.87 20.31
48 6.64 7.37 8.44 9.27 10.31 11.69 12.68 13.56 14.73 16.18 17.69 19.70 22.62
49 7.33 8.10 9.22 10.26 11.66 12.57 13.49 14.57 16.01 17.50 19.49 21.94 25.11
50 8.07 8.89 10.21 11.60 12.48 13.42 14.42 15.68 17.32 19.29 21.83 24.48 27.34
51 8.87 9.91 11.54 12.41 13.27 14.26 15.44 16.95 19.09 21.72 24.36 26.80 29.24
52 9.86 11.26 12.35 13.13 14.11 15.00 16.58 18.88 21.60 24.23 26.66 28.72 31.52
53 10.57 11.94 12.99 13.95 14.83 16.40 18.68 21.38 24.10 26.52 28.66 30.98 34.59
54 11.24 12.40 13.64 14.50 16.03 18.28 21.04 23.85 26.39 28.51 30.95 33.90 38.51
55 11.72 12.85 14.16 15.66 17.87 20.59 23.60 26.11 28.37 30.73 33.87 37.55 42.93
56 12.19 13.35 15.29 17.46 20.36 23.35 25.84 28.22 30.48 33.73 37.36 41.64 48.18
57 12.71 14.23 17.06 19.91 23.10 25.70 28.07 30.26 33.56 37.28 41.43 46.54 54.05
58 14.10 15.97 19.46 22.85 25.43 27.93 30.16 33.38 37.05 41.21 46.39 51.13 59.90
59 15.85 18.49 22.44 25.16 27.78 30.04 33.21 36.90 41.13 46.25 50.97 55.53 66.35
60 18.06 21.34 24.88 27.64 29.94 33.00 36.74 40.95 46.15 50.81 55.41 62.76 73.52
61 20.51 24.13 27.49 29.79 32.80 36.59 40.87 46.06 50.76 55.29 62.63 69.11 82.63
62 22.83 26.72 29.63 32.66 36.47 40.78 45.96 50.65 55.17 62.50 68.74 78.50 92.83
63 25.02 28.97 32.52 36.32 40.65 45.82 50.54 55.11 62.37 68.37 77.67 88.65 103.50
64 27.56 31.93 36.20 40.57 45.72 50.43 54.99 62.03 68.00 76.84 87.72 99.36 114.82
65 30.85 35.65 40.44 45.62 50.32 54.87 61.70 67.64 76.02 88.79 98.32 110.80 124.90
66 34.97 39.83 45.53 50.22 54.75 61.37 67.27 75.19 86.05 97.29 110.22 121.15 133.78
67 39.66 44.78 50.11 54.63 61.04 66.90 74.78 85.40 96.25 109.08 119.90 129.77 143.97
68 43.54 49.28 54.51 60.71 66.53 74.37 84.94 95.74 107.93 119.28 129.10 138.94 159.42
69 47.75 53.59 59.71 66.17 73.54 84.29 95.22 107.35 118.65 128.43 138.94 154.63 179.17
70 51.75 58.29 65.43 72.71 83.55 95.22 106.78 118.65 127.76 138.22 153.84 173.79 204.16
71 56.08 63.44 71.89 82.62 94.18 106.20 118.03 127.09 137.50 153.44 172.90 199.06 232.94
72 60.81 70.01 81.69 93.15 105.63 117.41 126.42 136.78 153.04 172.90 198.03 228.28 257.77
73 66.10 78.90 90.04 103.33 116.16 125.75 136.78 153.04 172.90 198.03 226.28 257.77 259.91
74 74.26 87.97 101.04 114.91 125.75 136.78 153.04 172.45 198.03 228.16 257.77 259.91 272.42
75 84.87 99.89 112.41 123.08 135.34 153.04 172.00 198.03 228.05 257.77 259.91 272.42 294.21
76 94.15 109.91 120.40 135.34 153.04 172.00 197.01 227.81 257.77 259.91 272.42 294.21 319.22
77 103.67 117.73 132.46 151.45 172.00 197.01 227.58 257.77 259.91 272.42 294.21 319.22 347.95
78 115.05 129.58 148.26 170.21 197.01 227.35 257.77 259.91 272.42 294.21 319.22 347.95 381.01
79 126.70 145.07 166.63 195.99 226.65 257.77 259.91 272.42 294.21 319.22 347.95 381.01 419.11
93
SOA 25 Female ANB
Issue Age 14 15 16 17 18 19 20 21 22 23 24 25 26+
80 141.88 164.83 193.95 225.95 257.77 259.91 272.42 294.21 319.22 347.95 381.01 419.11 463.11
81 161.25 189.87 223.74 257.77 259.91 272.42 294.21 319.22 347.95 381.01 419.11 463.11 514.06
82 187.46 223.57 257.77 259.91 272.42 294.21 319.22 347.95 381.01 419.11 463.11 514.06 575.74
83 223.41 257.77 259.91 272.42 294.21 319.22 347.95 381.01 419.11 463.11 514.06 575.74 650.59
84 257.77 259.91 272.42 294.21 319.22 347.95 381.01 419.11 463.11 514.06 575.74 650.59 741.67
85 259.91 272.42 294.21 319.22 347.95 381.01 419.11 463.11 514.06 575.74 650.59 741.67 852.92
86 272.42 294.21 319.22 347.95 381.01 419.11 463.11 514.06 575.74 650.59 741.67 852.92 912.15
87 294.21 319.22 347.95 381.01 419.11 463.11 514.06 575.74 650.59 741.67 852.92 912.15 939.52
88 319.22 347.95 381.01 419.11 463.11 514.06 575.74 650.59 741.67 852.92 912.15 939.52 958.31
89 347.95 381.01 419.11 463.11 514.06 575.74 650.59 741.67 852.92 912.15 939.52 958.31 967.89
90 381.01 419.11 463.11 514.06 575.74 650.59 741.67 852.92 912.15 939.52 958.31 967.89 972.73
91 419.11 463.11 514.06 575.74 650.59 741.67 852.92 912.15 939.52 958.31 967.89 972.73 977.60
92 463.11 514.06 575.74 650.59 741.67 852.92 912.15 939.52 958.31 967.89 972.73 977.60 982.48
93 514.06 575.74 650.59 741.67 852.92 912.15 939.52 958.31 967.89 972.73 977.60 982.48 987.40
94 575.74 650.59 741.67 852.92 912.15 939.52 958.31 967.89 972.73 977.60 982.48 987.40 992.33
95 650.59 741.67 852.92 912.15 939.52 958.31 967.89 972.73 977.60 982.48 987.40 992.33 1000.00
96 741.67 852.92 912.15 939.52 958.31 967.89 972.73 977.60 982.48 987.40 992.33 1000.00 0.00
97 852.92 912.15 939.52 958.31 967.89 972.73 977.60 982.48 987.40 992.33 1000.00 0.00 0.00
98 912.15 939.52 958.31 967.89 972.73 977.60 982.48 987.40 992.33 1000.00 0.00 0.00 0.00
99 939.52 958.31 967.89 972.73 977.60 982.48 987.40 992.33 1000.00 0.00 0.00 0.00 0.00
94
EXHIBIT C-11
(Revised January 1, 2002)
JLLS PLANS
NON-EXPERIENCED RATED PREMIUM RATES
1.INSTRUCTIONS FOR ADMINISTRATION OF YRT RATES: The life insurance rates are
shown on a per thousand dollar basis. The rates are payable annually in advance
and apply to traditional JLLS plans issued on a Joint Equal Age basis.
The following allowances apply to all joint last-to-die plans, during the first
year and renewal years.
o of the Male Non-smoker rates in Exhibit C-11 for cases in which at
least one of the insured is a non-smoker
o of the Male Smoker rates in Exhibit C-11 which both insureds are
smokers.
It is understood that if one life is declined on a JLLS policy, the rates will
be based on the insurable single life risk using the current automatic
reinsurance premium rates for the corresponding plan.
2.INSTRUCTIONS FOR CALCULATING THE JOINT EQUAL AGE.
Reinsurance premiums shall be based on a joint equal age of the Insureds under
the policy. The joint equal age shall be calculated by using the following
tables in the order indicated.
TABLE A
Convert all lives to Standard Non-smokers as follows, if both lives are not
smokers
Male Female
Preferred Non-smoker -1 -1
Standard Non-smoker +1 +1
Smoker +6 +4
The above Table A is for automatic policies and facultative excess policies. For
policies issued under the Competitive Underwriting Program or the Table 4
program, only the smoker conversion is used.
95
EXHIBIT C-11
Page 2
(Revised January 1, 2002)
TABLE B
For Substandard Joint-Last-to-Die policies, a joint equal age will be calculated
based on a standard rated policy; then, the Company's ratings are applied,
either as a multiple of (percentage extra), or addition to (flat extra), the
basic premium. Flat and multiple extras will receive the same allowances as flat
and multiple extras on individual life policies. Rating values for specific ages
and ratings are shown further on in this Exhibit. It is understood that the
maximum premium if per thousand.
TABLE C
An adjustment should be made in the ages of any females to bring them to a
corresponding male age
Female to Male Adjustment
All Ages: -5
TABLE D
Once you have two male ages with the same underwriting and smoking class, the
following table is used to determine a joint equal age:
Joint Equal Age
Difference in Add to Younger
Age Age
0 0
1 - 2 1
3 - 4 2
5 - 6 3
7 - 9 4
10 - 12 5
13 - 15 6
16 - 18 8
19 - 23 9
24 - 28 9
29 - 34 10
35 - 39 11
40 - 44 12
45 - 47 13
48 - 50 14
96
EXHIBIT C-111
(Revised January 1, 2002)
SURVIVORSHIOP UNIVERSAL LIFE and SURVIVORSHIP VARIABLE UNIVERSAL LIFE
1.INSTRUCTIONS FOR ADMINISTRATION OF YRT RATES: The life reinsurance rates are
shown on a per thousand dollar basis and are equivalent to the following
percentages of the attached Extended SOA 90-95 Basic Select & Ultimate Age
Nearest, Sex Distinct tables.
AUTOMATIC AND FACULATIVE
The following percentages apply to Survivorship Universal Life and Survivorshipo
Variable Universal Life.
4 Class*
Elite Preferred
Preferred Non Smoker
Standard Non Smoker
Preferred Smoker
Standard Smoker
*Before Frasierization
The joint life premium rate per $1,000 is calculated by Frasierizing the above
single life rates then taking the larger of this rate and per $1,000.
There shall be no policy fee payable.
TABLE 4 PROGRAM
All policies issued by the Company and found to be rateable up to and including
Table 4 (200%) prior to reinsurance review can be automatically issued to the
Reinsurer at standard rates. The company will pay the Reinsurer of the current
automatic single life premium rates for the corresponding plan for any policies
eligible under the Table 4 Program. For example, the rates will be of the
current automatic single life premium rates for the non rated standard life and
Of the current automatic single life premium rates for the rated life that is
falling under the Table 4 Program. The joint premium is calculated by
frazierizing the single life premiums.
97
EXHIBIT C-111
Page 2
(Revised January 1, 2002)
SUBSTANDARD CASES
For substandard policies, the single life premium rate will be calculated by
multiplying the single rate by the appropriate rating. The joint premium is
calculated by frazierizing the life premiums. For policies with a flat extra,
the single life premium rate is calculated by adding the appropriate net flat
extra rate. The joint premium rate is calculated by frazierizing the single life
premium rates. It is understood that the maximum premium per thousand.
RIDERS
The reinsurance rates for the following riders are as follows:
Additional Protection Benefit (APB) Same as base plan (point-in-scale).
Policy Split Option (PSO) of the final
calculated joint life premium.
single life premium rates apply
after the option is exercised
(point-in-scale).
Estate Preservation Rider (EPR) Same as base plan.
Individual Term Riders Single life premium rates apply.
Continuing Coverage Rider (CCR) per month less an allowance of .
The premium is calculated
based on our share of the risk, if any,
for each year from attained age 90 to age
100.
Enhanced Death Benefit Rider Same as base plan (point-in-scale).
(EDBR)
Automatic Increase Rider (AIR) Same as base plan (point-in-scale).
98
EXHIBIT D
(Revised January 1, 2002)
THE CEDING COMPANY'S RETENTION LIMITS
Each limit specified in this schedule represents the total for the Company and
its subsidiary companies combined.
Except as noted below, the Company will retain $1,000,000 of life insurance on
any one life.
Exceptions:
1.For second-to-die policies, the maximum retention will be $1,000,000 less the
greater of any amounts on either life.
0.Xx addition to the base retention, the Company will retain full amounts of
additional insurance provided in the following situations:
a) Accidental Death Benefit (ADB) rider b) The Company's employee term insurance
c) Additional Insurance Option (AIO) rider
d) Guaranteed issue / simplified issue underwriting (non-COLI) e) Waiver of
Premium (WP) rider f) Waiver of Monthly Deductions (WMD) rider
3.On all plans other than universal life, the Company will retain, in addition
to its basic retention, a share proportional to its basic retention of the
additional insurance provided in the following situations:
a) Purchased by dividends.
b) Issued under the terms of a Cost of Living (COL) or other increasing term
insurance rider. c) Issued under the terms of its annual premium additions rider
(APAR).
99
EXHIBIT E
(Revised January 1, 2002)
THE REINSURER'S ACCEPTANCE LIMITS
Automatic Limit:
Life:
The Reinsurer agrees to accept its applicable share of the excess over the
Company's retention but not more than the following limits on any one life. This
limit applies to all plans except BIO rider, the Table 4 Program and conversions
from term plans from treaty
Ages Std (100%) - Table 4 (200%)
0 - 75 $7,000,000
It is understood that the Company's Total Automatic Coverage including the
Company's retention is $15,000,000.
BIO Rider:
The Reinsurer agrees to accept its applicable share of the excess of the
Company's retention but not more than the following limits on any one life:
Ages Std (100%) - Table 4 (200%)
0-75 $4,000,000
It is understood that the Company's Total Automatic Coverage including the
Company's retention is $9,000,000.
APAR Rider:
The Reinsurer agrees to accept an amount corresponding to its share of the basic
policy.
Table 4 Program effective January 1, 2002:
The Reinsurer agrees to accept a twenty percent (20%) first dollar quota share
of each policy but not more than the following limits on any one life:
Ages Standard (100%) - Table 4 (200%)
0 - 75 $1,000,000
100
EXHIBIT E
Page 2
(Revised January 1, 2002)
The Reinsurer agrees to accept up to a one quarter quota share of any policy
submitted under the Table 4 program where the Company has either fully or
partially filled its retention on a life now applying under the Table 4 Program,
(the above limit could be increased by up to $250,000).
Table 4 Program effective July 1, 2002:
The Reinsurer agrees to accept a forty percent (40%) first dollar quota share of
each policy but not more than the following limits on any one life:
Ages Standard (100%) - Table 4 (200%)
0 - 75 $2,000,000
The Reinsurer agrees to accept up to a one half quota share of any policy
submitted under the Table 4 program where the Company has either fully or
partially filled its retention on a life now applying under the Table 4 Program,
(the above limit could be increased by up to $500,000).
W.P.: Not covered
A.D.: Not covered
Jumbo Limit:
Life:
-Applied to the Table 4 Program:
$5,000,000 inforce and applied for on any one life.
-Applies to all other plans originally issued under this treaty:
$25,000,000 inforce and applied for on any one life.
101
