AUTOMATIC AND FACULTATIVE YEARLY RENEWABLE TERM
REINSURANCE AGREEMENT
between
HARTFORD LIFE INSURANCE COMPANY
and
RGA REINSURANCE COMPANY
Facultative Business Effective Date: November 1, 2002
Automatic Business Effective Date: December 1, 2002
ARTICLES
I. Parties to the Agreement 3
II. Reinsurance Coverage 3
III. Liability 5
IV. Notification of Reinsurance 6
V. Reinsurance Premiums 6
VI. Reserves 8
VII. Oversights 9
VIII. Conversions 9
IX. Reductions, Terminations, and Changes 9
X. Increase in Retention 10
XI. Reinstatement 11
XII. Expenses 12
XIII. Claims 12
XIV. Extra-Contractual Damages 14
XV. Inspection of Records 15
XVI. DAC Tax - Section 1.848-2 (g)(8) Election 15
XVII. Insolvency 16
XVIII. Offset 17
XIX. Arbitration 17
XX. Termination 18
XXI. General Provisions 19
XXII. Confidentiality 20
XXIII. Notices and Communications 21
XXIV. Effective Date 22
XXV. Execution 22
SCHEDULES
A. Plans Covered under This Agreement 23
B. Basis of Reinsurance 26
C. Foreign National Program 27
D. Table Two to Standard Program 29
EXHIBITS
I. Reinsurance Premium Calculation 31
II. Retention, Binding, and Issue Limits 32
III. Annual per 1000 YRT Reinsurance Rates 33
ALL SCHEDULES AND EXHIBITS ATTACHED WILL BE CONSIDERED PART OF THIS REINSURANCE
AGREEMENT.
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ARTICLE I
PARTIES TO THE AGREEMENT
This Agreement is between Hartford Life Insurance Company (referred to as the
Ceding Company), and RGA Reinsurance Company (referred to as the Reinsurer).
The acceptance of risks under this Agreement will create no right or legal
relationship between the Reinsurer and the insured owner or beneficiary of any
insurance policy or contract of the Ceding Company. This Agreement will be
binding upon the Ceding Company and the Reinsurer and their respective
successors and assignees.
ARTICLE II
REINSURANCE COVERAGE
Reinsurance under this Agreement will apply to insurance issued by the Ceding
Company on the Plans of Insurance shown in Schedule A. Such Plans of Insurance
shall be reinsured with the Reinsurer on an automatic basis, subject to the
requirements set forth in Section A below, or on a facultative basis, subject to
the requirements set forth in Section B below, or on a facultative obligatory
basis, subject to the requirements set forth in Section C below. The
specifications for all reinsurance under this Agreement are provided in Schedule
B.
A. Requirements for Automatic Reinsurance
For risks which meet the requirements for Automatic Reinsurance as set forth
below, the Reinsurer will participate in a reinsurance pool whereby the
Reinsurer will automatically reinsure a portion of the insurance risks as
indicated in Schedule B. The requirements for Automatic Reinsurance are as
follows:
1. The individual risk must be a resident of the United States or Canada at the
time of application with the exception of the Foreign National Program as
specified in Schedule C.
2. The individual risk must be underwritten according to the Ceding Company's
standard underwriting practices and guidelines. Any risk falling into the
category of special underwriting programs will be excluded from this Agreement
unless previously agreed to by the Reinsurer via a written amendment.
3. Any risk offered on a facultative basis other than for size by the Ceding
Company to the Reinsurer or any other company will not qualify for Automatic
Reinsurance under this Agreement for the same risk and same life.
4. The maximum issue age will be 90.
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B. Requirements for Facultative Reinsurance
1. If the requirements for Automatic Reinsurance are met, but the Ceding
Company prefers to apply for Facultative Reinsurance with the Reinsurer, or if
the requirements for Automatic Reinsurance are not met and the Ceding Company
applies for Facultative Reinsurance with the Reinsurer, then the Ceding Company
must submit to the Reinsurer all the papers, facsimiles, or sufficient evidence
agreed upon between the Ceding Company and the Reinsurer relating to the
insurability of the individual life for Facultative Reinsurance.
2. For applications for Facultative Reinsurance, the Ceding Company will send
copies of all of the papers or facsimiles relating to the insurability of the
individual risk to the Reinsurer. After the Reinsurer has examined the request,
the Reinsurer will promptly notify the Ceding Company of the underwriting offer
subject to additional requirements or the final underwriting offer. The final
underwriting offer on the individual risk will automatically terminate upon the
earlier of the withdrawal of the application or 120 days from the date of the
final offer, unless coverage is accepted or put in place earlier.
3. Notwithstanding the above, if the requirements for Automatic Reinsurance are
met except that the face amount of reinsurance applied for is greater than the
Automatic Issue Limit, but does not exceed the Automatic Processing Limit, then
the Ceding Company will submit to the Lead Reinsurer (as designated in Schedule
B) all papers relating to the insurability of the individual risk. The Lead
Reinsurer shall review the papers to determine if the risk should be reinsured
by the pool, and, if so, on what basis. The Lead Reinsurer shall provide the
Ceding Company with a response within 24 hours of receipt of the papers.
Approval of the Lead Reinsurer shall be binding on all other pool members. This
process shall be known as Automatic Processing and subject to the limitations in
Exhibit II.
C. Requirements for Facultative Obligatory Reinsurance
The Reinsurer agrees to a facultative obligatory arrangement whereby the Ceding
Company may cede a risk to the Reinsurer and the Reinsurer agrees to accept the
risk using the Ceding Company's underwriting evaluation, subject to the
following conditions:
1. The requirements for Automatic Reinsurance specified in Article II must be
met with one exception. This exception is that the total amount of insurance
issued and applied for in all companies on each risk has exceeded the jumbo
limits set forth in Exhibit II.
2. The arrangement is available on all policy forms covered under this
Reinsurance Agreement.
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3. The ceded risk is subject to the Facultative Obligatory Automatic Binding
Limits and the Facultative Obligatory Automatic Issue Limits, as stated in
Exhibit II. However, to the extent that the Reinsurer has already filled its
available capacity on the risk, the Reinsurer may reduce the provided capacity
by notifying the Ceding Company. In addition, the Reinsurer may choose to
provide Facultative Obligatory capacity greater than as specified in Schedule B.
4. The Reinsurer will have a reasonable amount of time, but not to exceed two
(2) business days, to respond to the Ceding Company's request for a Facultative
Obligatory risk.
D. Basis of Reinsurance
Reinsurance under this Agreement will be on the basis as stated in Schedule B.
E. Policy Forms
When requested, the Ceding Company will furnish the Reinsurer with a copy of
each policy, rider, rate book, and applicable sales or marketing material that
applies to the life insurance reinsured hereunder.
ARTICLE III
LIABILITY
A. The Reinsurer's liability for Automatic and Facultative Obligatory
Reinsurance will begin simultaneously with the Ceding Company's liability.
B. The Reinsurer's liability for Facultative Reinsurance coverage will begin
simultaneously with the Ceding Company's liability once the Reinsurer has
accepted the application for Facultative Reinsurance and the Ceding Company has
accepted the offer.
C. In no event shall the reinsurance be in force and binding if the issuance
and delivery of such insurance constituted the doing of business in a
jurisdiction in which the Ceding Company was not properly licensed.
D. The Reinsurer's liability for reinsurance on the individual risk will
terminate when the Ceding Company's liability terminates.
E. The Reinsurer will not be liable for benefits paid under the Ceding
Company's conditional receipt or temporary insurance agreement unless all the
conditions for the conditional receipt or temporary insurance agreement are met.
The Reinsurer's liability under the Ceding Company's conditional receipt or
temporary insurance agreement is limited to the lesser of (1) or (2) below:
1. The Automatic Binding limits with the Reinsurer shown in Exhibit II, or
2. The amount for which the Ceding Company is liable, less its retention shown
in Exhibit II
The pre-issue liability applies provided that the Ceding Company has followed
its normal cash-with-application procedures for such coverage. After a policy
has been issued, no
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reinsurance benefits are payable under this pre-issue coverage provision.
F. The liability of each pool member shall be separate and not joint with the
other pool members.
G. The Reinsurer shall establish reserves on the Reinsurer's portion of the
policy on the reserve basis specified in Article VI.
ARTICLE IV
NOTIFICATION OF REINSURANCE
A. For Automatic and Facultative Reinsurance, the Ceding Company will notify
the Reinsurer on the monthly statement as described in Article V.
B. When reinsurance is reduced or changed, the Ceding Company will notify the
Reinsurer on the monthly accounting statement.
ARTICLE V
REINSURANCE PREMIUMS
A. Computation
Premiums for reinsurance under this Agreement will be computed as described in
Exhibit I.
B. Premium Accounting
1. Payment of Reinsurance Premiums
For Automatic and Facultative Reinsurance, following the close of each calendar
month, the Ceding Company will send the Reinsurer a statement and a listing of
new business, changes, and terminations. The Reinsurer will refund to the Ceding
Company all unearned Annual YRT Reinsurance Premiums not including policy fees,
less applicable allowances, arising from reductions, terminations and changes as
described in Article IX.
Annual YRT Reinsurance Premiums, as calculated in Exhibit I, based on the
Reinsured Net Amount at Risk, as defined in Schedule B, are paid annual in
advance each month for those policies renewing during that month.
If a net reinsurance premium balance is payable to the Reinsurer, the Ceding
Company will forward this balance within thirty (30) days after the close of
each month.
If a net reinsurance premium balance is payable to the Ceding Company, the
balance due will be subtracted from the reinsurance premium payable by the
Ceding Company for the current month. The Reinsurer shall pay any remaining
balance due the Ceding Company within thirty (30) days after the Ceding Company
submits the statement.
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2. Termination Because of Non-Payment of Premium
If undisputed reinsurance premiums are delinquent, the Reinsurer has the right
to terminate the reinsurance risks on those policies listed on the delinquent
monthly statement by giving the Ceding Company ninety (90) days' advance written
notice. If the delinquent premiums have not been paid as of the close of the
ninety (90) day period, the Reinsurer's liability will terminate for the risks
described in the delinquency notice.
Regardless of the termination, the Ceding Company will continue to be liable to
the Reinsurer for all unpaid reinsurance premiums earned up to the date of
termination.
3. Reinstatement of a Delinquent Statement
The Ceding Company may reinstate the terminated risks within sixty (60) days
after the effective date of termination by paying the unpaid reinsurance
premiums for the risks in force prior to the termination. However, the Reinsurer
will not be liable for any claim incurred between the date of termination and
reinstatement. The effective date of reinstatement will be the date the required
back premiums are received.
4. Currency
The reinsurance premiums and benefits payable under this Agreement will be
payable in the lawful money of the United States.
5. Detailed Listing
Before the end of the first quarter, the Ceding Company will send the Reinsurer
a detailed listing of all reinsurance in force as of the close of the
immediately preceding calendar year.
6. Guaranteed Rates
The Reinsurer reserves the right to increase reinsurance premiums only if the
Ceding company increases the cost of insurance rates to the policy owner. The
increase to these reinsurance premiums shall be no more than proportional to the
increase to the policy owners' cost of insurance rates.
7. Overpayment of Premium
If the Ceding Company overpays a reinsurance premium and the Reinsurer accepts
the overpayment, the Reinsurer's acceptance will not constitute nor create a
reinsurance liability nor result in any additional reinsurance. Instead, the
Reinsurer will be liable to the Ceding Company for a credit in the amount of the
overpayment.
If this overpayment is not returned to the Ceding Company promptly, the Ceding
Company reserves the right to charge interest on reinsurance proceeds due.
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The interest will be calculated according to the 90 Day Federal Government
Treasury rate as first published in the Wall Street Journal in the month
following the end of the billing period plus 50 basis points. The method of
calculation will be simple interest "Bankers' Rule" (or 360 day year).
8. Underpayment of Premium
If the Ceding Company fails to make a full premium payment for a policy or
policies reinsured hereunder, due to an oversight defined in Article VII, the
amount of reinsurance coverage provided by the Reinsurer shall not be reduced.
However, once the underpayment is discovered, the Ceding Company will be
required to pay to the Reinsurer the difference between the full premium amount
and the amount actually paid, without interest. If payment or the full premium
is not made within sixty (60) days after the discovery of the underpayment, the
underpayment shall be treated as a failure to pay premiums and subject to the
conditions of Section B.2, above.
The Reinsurer reserves the right to charge interest on overdue premiums. The
interest will be calculated according to the 90 Day Federal Government Treasury
Bill rate as first published in the Wall Street Journal in the month following
the end of the billing period plus 50 basis points. The method of calculation
will be simple interest "Bankers' Rule" (or 360 day year).
ARTICLE VI
RESERVES
A. Statutory Reserves for the Mortality Risk of the Policy
[Redacted]
B. Representations
The Reinsurer represents to the Ceding Company that the Reinsurer is properly
licensed or accredited so that the Ceding Company may claim statutory reserve
credit on its financial statements filed in all states in which the Ceding
Company is licensed to transact insurance business. In the event that as a
result of a change in the Reinsurer's licensing or accreditation status, the
Ceding Company must obtain security for statutory reserve credits taken with
respect to this reinsurance agreement, the Reinsurer will establish a trust or
letter of credit in a form which meets all applicable standards of law and
regulation to enable the Ceding Company to claim such reserve credit on its
statutory statements. The Reinsurer will bear the expense of establishing any
trusts or letter of credit with respect to this provision.
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ARTICLE VII
OVERSIGHTS
If there is an unintentional oversight, misunderstanding, delay or error in the
administration of this Agreement by the Ceding Company or the Reinsurer, it can
be corrected provided the correction takes place within a reasonable time after
the oversight, misunderstanding, delay, or error is first discovered. Both the
Ceding Company and the Reinsurer will be restored to the position they would
have occupied had the oversight or misunderstanding not occurred. Should it not
be possible to restore both parties to such a position, the Ceding Company and
the Reinsurer shall negotiate in good faith to equitably apportion any resulting
liabilities and expenses.
ARTICLE VIII
CONVERSIONS
Conversions from existing term plans of insurance reinsured under this Agreement
will be reinsured using the YRT premiums attached as Exhibit I on a point in
scale basis up to the original face amount. The converted policy will be
reinsured with the Reinsurer in the same proportion as was determined for the
original term policy. A term conversion is a contractual right of the
policyholder to replace a term policy with a permanent policy without evidence
of insurability.
ARTICLE IX
REDUCTIONS, TERMINATIONS AND CHANGES
A. Replacement or Change
If there is a contractual change, the insurance will continue to be reinsured
with the Reinsurer at point-in-scale rates.
Exchanges from one single life plan reinsured under this Agreement to a
different single life plan will be reinsured at point-in-scale rates. An
exchange is a new policy replacing an existing policy where the new policy is
not fully underwritten.
B. Increases or Decreases
1. If the policy face amount of a risk reinsured automatically under this
Agreement increases and:
a. The increase is subject to new underwriting evidence, then the
provisions of Article II, Section A, shall apply to the increase in
reinsurance.
b. The increase is not subject to new underwriting evidence, the
Reinsurer will accept the increase in reinsurance at point-in-scale
rates but not to exceed the Automatic Binding Limit.
2. If the policy face amount increases, the Ceding Company's retention will be
filled first, then any remaining risk of the increase will be ceded to the
Reinsurer as of the effective date of the increase. If the policy face amount is
reduced, the
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reinsurance will be reduced first, thereby maintaining the Ceding Company's
retention.
3. In the event of a reduction in the face amount of a policy, which was ceded
facultatively, the Reinsurer's percentage of the reduced face amount shall be
the same percentage as set at issue.
4. A request to increase the face amount of policies that are reinsured on a
facultative basis will be submitted to the Reinsurer for acceptance.
C. Reduction in Retained Coverage
If any portion of the aggregate insurance retained by the Ceding Company on an
individual life reduces or terminates, the Ceding Company will recalculate its
retention on any remaining risk(s) inforce on that life with the intent of
holding the appropriate retention under each applicable reinsurance agreement.
The retention limit, which was in effect at the time that each remaining risk
was issued, will be used. The Ceding Company will not be required to retain an
amount in excess of its regular retention limit for the age, mortality rating,
and risk classification at the time of issue for any policy. The Ceding Company
will first recalculate the retention on the policy(ies) having the same
mortality rating as the terminated policy(ies). Order of recalculation will
secondarily be determined by policy effective date, oldest first.
D. Multiple Reinsurers
If a risk is shared by more than one reinsurer, the Reinsurer's percentage of
any increased or reduced reinsurance will be the same as its initial percentage
of the reinsurance for that risk.
E. Termination
If the policy for a risk reinsured under this Agreement is terminated, the
reinsurance for the risk involved will be terminated on the effective date of
termination.
F. Mortality Rating
On Facultative Reinsurance, if the Ceding Company wishes to reduce the mortality
rating, this reduction will be subject to the Reinsurer's approval. On Automatic
Reinsurance, if the Ceding Company wishes to reduce the mortality rating, the
Reinsurer will accept this reduction.
ARTICLE X
INCREASE IN RETENTION
A. If the Ceding Company should increase the retention limits as listed in
Exhibit II, prompt written notice of the increase must be given to the
Reinsurer.
B. In the event of an increase in retention, the Ceding Company will have the
option of recapturing the reinsurance up to the increased retention under this
Agreement. The
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Ceding Company may exercise its option to recapture by giving written notice to
the Reinsurer within ninety (90) days after the effective date of the increase.
C. If the Ceding Company exercises its option to recapture, then:
1. The Ceding Company must reduce the reinsurance on each individual life on
which the Ceding Company retained the maximum retention limit for the age and
mortality rating that was in effect at the time the reinsurance was ceded to the
Reinsurer.
2. No recapture will be made to reinsurance on an individual life if (a) the
Ceding Company retained a special retention limit less than the maximum
retention limit for the age and mortality rating in effect at the time the
reinsurance was ceded to the Reinsurer, or if (b) the Ceding Company did not
retain insurance on the life.
3. The Ceding Company must increase its total amount of insurance on the
individual life up to the new retention limit by reducing the reinsurance. If an
individual life is shared by more than one reinsurer, the Reinsurer's percentage
of the reduced reinsurance will be the same as the initial reinsurance on the
individual risk.
4. The reduction in reinsurance will become effective on the next annual
premium anniversary after the individual policy has been inforce for at least
ten (10) years.
5. If more than one policy per life is eligible for recapture, then the
eligible policies may be recaptured beginning with the policy with the earliest
issue date and continuing in chronological order according to the remaining
policies' issue dates.
ARTICLE XI
REINSTATEMENT
If an insurance policy lapses for nonpayment of premium and is reinstated under
the Ceding Company's terms and rules, the Reinsurer will reinstate the
reinsurance as follows:
A. Automatic Cases
The Ceding Company must pay the Reinsurer all back reinsurance premiums in the
same manner as the Ceding Company received insurance charges under the policy.
When the policy is reinstated by the Ceding Company, the reinsurance will be
automatically reinstated.
B. Facultative Cases
If the Ceding Company requires reinstatement evidence of insurability, the
Ceding Company will submit it to the Reinsurer for approval. In such cases, the
Reinsurer's approval is required for the reinsurance to be reinstated. Upon the
Reinsurer's approval, the Ceding Company must pay the Reinsurer all back
reinsurance premiums in the same manner as the Ceding Company received insurance
premium under the policy.
C. Nonforfeiture Reinsurance Termination
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If the Ceding Company has been requested to reinstate a policy that was
reinsured while on extended term or reduced paid-up, then such reinsurance will
terminate and either automatic or facultative reinstatement procedures will be
followed as outlined above in this Article.
ARTICLE XII
EXPENSES
The Ceding Company must pay the expense of all medical examinations, inspection
fees and other charges in connection with the issuance of the insurance.
ARTICLE XIII
CLAIMS
A. Liability
If the Ceding Company is liable for insurance benefits on a policy reinsured
under this Agreement, the Reinsurer shall be liable for its portion of the
reinsurance on that policy, as described in Schedule B. All reinsurance claim
settlements will be subject to the terms and conditions of the particular
contract statutory requirements under which the Ceding Company is liable.
B. Notification
When the Ceding Company is advised of a claim, the Reinsurer must be notified
promptly.
C. Claim Payment
1. Automatic Reinsurance on a Risk
If a claim is made under insurance reinsured under this Agreement, the Reinsurer
will abide by the issue as it is settled by the Ceding Company. Copies of proofs
or other written matters relating to any claim reimbursements under this
Agreement shall be furnished to the Reinsurer upon written request. The
Reinsurer will pay the Ceding Company the reinsurance proceeds within thirty
(30) days of final notification of the Ceding Company making the settlement of
the policy proceeds. The Ceding Company will deliver a copy of the proof of
death, check copy or proof of payment, and the claimant's statement to the
Reinsurer.
2. Facultative Reinsurance on a Risk
If a claim is made on a risk reinsured facultatively under this Agreement, the
Ceding Company shall submit to the Reinsurer all relevant and/or requested
documents and papers related to the claim along with the Ceding Company's
recommendation. The Ceding Company shall then wait five (5) days from the date
of mailing during which time the Reinsurer shall have the opportunity to advise
the Ceding Company of its consent or disagreement with the recommendation. In
the event the Reinsurer does not contact the
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Ceding Company within the five-day (5) period, the Reinsurer shall be deemed to
have approved the recommendation and the Ceding Company shall be authorized to
act accordingly. The Reinsurer will pay the Ceding Company the reinsurance
proceeds when the Ceding Company makes the settlement of the policy proceeds and
delivers proof of payment to the Reinsurer.
3. Payment of Reinsurance Proceeds
Payment of life reinsurance proceeds will be made in a single sum regardless of
the Ceding Company's mode of settlement with the payee.
4. Recapture
If the Reinsurer is delinquent, ninety (90) days past due, on an undisputed net
amount due to the Ceding Company, the Ceding Company will have the right to
offset such amounts from any amounts due the Reinsurer in accordance with
Article XVIII. To the extent there is an insufficient balance from which to
offset such amounts, the Ceding Company has the right to recapture, provided the
Ceding Company has given the Reinsurer ninety (90) days written notice of its
intent to recapture and the Reinsurer has failed to pay the net amount due by
the end of the ninety (90) day notice period.
Regardless of the recapture, the Reinsurer will continue to be liable to the
Ceding Company for all its obligations under the Agreement up to the effective
date of the recapture. Such obligations shall include, but shall not be limited
to reinsurance claims and claim expenses incurred before the effective date of
the recapture, any net reinsurance premium balances due the Ceding Company for
periods prior to the effective date of the recapture and any unearned
reinsurance premium.
The rights of the Ceding Company under this provision shall not be used solely
to avoid the provisions regarding recapture in Article X.
5. Overdue Reinsurance Proceeds
The Ceding Company reserves the right to charge interest on reinsurance proceeds
due. The interest will be calculated according to the 90 Day Federal Government
Treasury rate as first published in the Wall Street Journal in the month
following the end of the billing period plus 50 basis points. The method of
calculation will be simple interest "Bankers' Rule" (or 360 day year).
D. Contested Claims
The Ceding Company must promptly notify the Reinsurer of any intent to contest a
claim reinsured under this Agreement or to assert defenses, and if the Ceding
Company's contest of such insurance results in the increase or reduction of
liability, the Reinsurer will share in this increase or reduction. The
Reinsurer's share of the increase or decrease shall be proportional to their
share of the Total Net Amount at Risk, as defined in Schedule B, on the date of
the death of the insured.
If the Reinsurer should decline to participate in the contest or assertion of
defenses, the Reinsurer will then release all of its liability by paying the
Ceding Company the full amount of reinsurance and not sharing in any subsequent
increase or reduction in
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liability.
The Ceding Company shall operate in good faith and adjudicate claims to policies
reinsured under this agreement as if there were not reinsurance. The Ceding
Company's decision to pay a claim in accordance with their contractual liability
is binding on the Reinsurer.
E. Misstatement of Age or Sex
If the amount of insurance provided by the policy or policies reinsured under
this Agreement is increased or reduced because of misstatement of age or sex
established after the death of the insured, the Reinsurer will share with the
Ceding Company in this increase or reduction.
F. Routine Expenses
The Ceding Company will pay the routine expenses incurred in connection with
settling claims. These expenses may include compensation of agents and employees
and the cost of routine investigations.
G. Non-Routine Expenses
The Reinsurer will share with the Ceding Company all expenses that are not
routine. Expenses that are not routine are those directly incurred in connection
with the contest or the possibility of a contest of a claim or the assertion of
defenses, including legal expenses. The expenses will be shared in proportion to
the Total Net Amount at Risk, as defined in Schedule B, for the Ceding Company
and the Reinsurer. However, if the Reinsurer has released the liability under
Section D of this Article, the Reinsurer will not share in any expenses incurred
after the date of the Reinsurer's release.
H. Return of Premium for Misrepresentations and Suicides
If a misrepresentation on an application or a death of an insured risk by
suicide results in the Ceding Company returning the policy premiums to the
policy owner rather than paying the policy benefits, the Reinsurer will refund
all of the reinsurance premiums it received on that policy to the Ceding
Company. This refund given by the Reinsurer will be in lieu of all other
reinsurance benefits payable on that policy under this Agreement.
I. Contestable Period
If during the contestable period, Ceding Company is notified of the death of the
insured, the Ceding Company will investigate the case.
ARTICLE XIV
EXTRA-CONTRACTUAL DAMAGES
In no event will the Reinsurer have any liability for any extra-contractual
damages, which are awarded against the Ceding Company as a result of acts,
omissions, or course of conduct committed solely by the Ceding Company with no
involvement of the Reinsurer in connection with the insurance reinsured under
this Agreement.
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The Reinsurer will, however, pay its share of punitive and/or compensatory
damages and/or statutory penalties awarded against the Ceding Company in
connection with benefits reinsured under this Agreement if the Reinsurer agreed,
in advance and in writing, to the act or course of conduct of the Ceding Company
that resulted in the assessment of such damages. The Reinsurer shall also have
five (5) working days to respond to any request for concurrence in a proposed
course of conduct.
The Reinsurer does recognize that circumstances may arise under which the
Reinsurer, in equity, should share, to the extent permitted by law, in paying
certain assessed damages. Such circumstances are difficult to define in advance,
but by example may involve those situations in which the Reinsurer was an active
party in the act, omission, or course of conduct that ultimately results in the
assessment of such damages. The extent of such sharing is dependent on good
faith assessment of culpability in each case, but all factors being equal, the
division of any such assessment would be in the proportion of Total Net Amount
at Risk (as defined in Schedule B) accepted by each party for the plan of
insurance involved.
ARTICLE XV
INSPECTION OF RECORDS
Each party or their authorized representatives will have the right, at any
reasonable time and upon reasonable notice, to inspect the other party's books
and documents that relate to reinsurance under this Agreement.
ARTICLE XVI
DAC TAX
SECTION 1.848-2(g)(8) ELECTION
A. The Ceding Company and the Reinsurer jointly agree to the DAC Tax Election
pursuant to Section 1.848-2(g)(8) of the Income Tax Regulations (the "Treasury
Regulations") issued under Section 848 of the Internal Revenue Code of 1986, as
amended (the "Code") whereby:
(i) 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 Code section 848(c)(1); and
(ii) Both parties agree to exchange information pertaining to the amount
of net consideration under this Agreement each year to ensure
consistency.
B. As used in this Article XVI, the terms "net positive consideration",
"specified policy acquisition expenses" and "general deductions limitation" are
defined by reference to Treasury Regulations Section 1.848-2 and Code Section
848 as of November 1, 2002.
C. The method and timing of the exchange of this information shall be as
follows:
(i) The Ceding Company shall submit a schedule to the Reinsurer by May 1 of
each year of its calculation of the net consideration for the preceding
calendar year.
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(ii) The Reinsurer shall, in turn, complete the schedule by indicating
acceptance of the Ceding Company's calculation of net consideration
or shall note in writing any discrepancies. The Reinsurer shall
return the completed schedule to the Ceding Company by June 1 of
each year.
(iii) If there are any discrepancies between the Ceding Company's and the
Reinsurer's calculation of net consideration, the parties shall act
in good faith to resolve these discrepancies in a manner that is
acceptable to both parties by July 1 of each year.
(iv) Each party shall attach the final schedule to their respective U.S.
federal income tax returns for each taxable year in which
consideration is transferred under this Agreement. The schedule
shall identify this Agreement and restate the election described in
this Article XVI and shall be signed by both parties.
D. This DAC Tax Election shall be effective on the effective date of this
Agreement and shall be effective for all years for which this Agreement remains
in effect.
E. The Ceding Company and the Reinsurer each represent and warrant that they
are subject to U.S. taxation under either the provisions of Subchapter L of
Chapter 1 or Subpart F of Part III of Subchapter N of Chapter 1 of the Code.
F. Should the Reinsurer breach the representation and warranty of tax status
set forth in this Article of this Agreement, the Reinsurer agrees to indemnify
and hold the Ceding Company, its directors, officers, employees, agents, and
shareholders harmless from any liability and all liability, loss, damages,
fines, penalties, interest, and reasonable attorney's fees, which the Ceding
Company, its directors, officers, employees, agents, and shareholders may
sustain by reason of such breach.
ARTICLE XVII
INSOLVENCY
A. Insolvency of the Reinsurer
If the Reinsurer becomes insolvent as determined by the Regulatory Agency
responsible for such determination, amounts due the Reinsurer will be paid net
of the terms of this Agreement and directly to the liquidator, receiver, or
statutory successor without decrease. In addition, upon the Reinsurer's
insolvency, the Ceding Company may cancel this Agreement for future new business
as described in Article XX.
In the event that the Reinsurer is deemed insolvent, the Ceding Company may at
its own option within thirty (30) days of the occurrence of this event, give
written notice to the Reinsurer of its intention to recapture reinsurance and
reserves under this Agreement.
B. Insolvency of the Ceding Company
If the Ceding Company should become insolvent, as determined by the Regulatory
Agency responsible for such determination, all reinsurance under this Agreement
covering risks ceded by the Ceding Company will be payable by the Reinsurer
directly to
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the Ceding Company's liquidator, receiver or statutory successor, on the basis
of the liability of the Ceding Company under the policy or policies reinsured
and without diminution because of the insolvency of the Ceding Company. However,
in the event of such insolvency, the liquidator, receiver, or statutory
successor will give written notice of a pending claim against the Ceding Company
on the reinsured policy. It will do so within a reasonable time after the claim
is filed in the insolvency proceedings. During the pendency of such a claim, the
Reinsurer may investigate the claim and may, at its own expense, interpose any
defense or defenses, which it may deem available to the insolvent Ceding
Company, its liquidator, receiver, or statutory successor, in the proceedings
where the claim is to be adjudicated.
The expense thus incurred by the Reinsurer will be chargeable against the Ceding
Company, subject to court approval, as part of the expense of liquidation to the
extent of a proportionate share of the benefit, which may accrue to the
insolvent Ceding 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 elects to interpose defense to the claim, the expense will be
apportioned in accord with the terms of the reinsurance agreement as though the
expense had been incurred by the insolvent Ceding Company.
ARTICLE XVIII
OFFSET
Any undisputed debts or credits, matured or unmatured, liquidated or
unliquidated, regardless of when they arose or were incurred, in favor of or
against either the Ceding Company or the Reinsurer with respect to this
Agreement, shall be offset, and only the balance shall be allowed or paid. In
the event the Ceding Company becomes insolvent, offsets shall be allowed in
accordance with applicable law.
ARTICLE XIX
ARBITRATION
The Ceding Company and the Reinsurer mutually understand and agree that the
wording and interpretation of this Agreement is based on the usual customs and
practice of the insurance and reinsurance industry. While both the Ceding
Company and the Reinsurer agree to act in good faith in its dealings with each
other, it is understood and recognized that situations may arise in which they
cannot reach an agreement.
In the event that any dispute cannot be resolved to mutual satisfaction, the
dispute will first be subject to good-faith negotiation as described below in an
attempt to resolve the dispute without the need to institute formal arbitration
proceedings.
Within ten (10) days after one of the parties has given the other the first
written notification of the specific dispute, each of the parties will appoint a
designated officer to attempt to resolve the dispute. The officers will meet at
a mutually agreeable location as early as possible and as often as necessary, in
order to gather and furnish the other with all appropriate and relevant
information concerning the dispute. The officers will discuss the problem and
will negotiate in good faith without the necessity of any formal arbitration
proceedings. During the negotiation
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process, all reasonable requests made by one officer to the other for
information will be honored. The designated officers will decide the specific
format for such discussions.
If the officers cannot resolve the dispute within thirty (30) days of their
first meeting, both parties agree that they will submit the dispute to formal
arbitration. However, the parties may agree in writing to extend the negotiation
period for an additional thirty (30) days.
No later than fifteen (15) days after the final negotiation meeting; the
officers taking part in the negotiation will give both the Ceding Company and
the Reinsurer written confirmation that they are unable to resolve the dispute
and that they recommend establishment of formal arbitration.
An arbitration panel consisting of three (3) past or present officers of life
insurance or life reinsurance companies not affiliated with either of the
parties in any way will settle the dispute. Each party will appoint one
arbitrator and the two will select a third. If the two arbitrators cannot agree
on the choice of a third within thirty (30) days following their appointment,
each arbitrator shall nominate three candidates within ten (10) days thereafter,
two of whom the other shall decline, and the decision shall be made by drawing
lots.
The Ceding Company and the Reinsurer shall bear the expense of its own
arbitrator and shall jointly bear with the other the expense of the third
arbitrator. In the absence of a decision to the contrary by the arbitration
panel, the Ceding Company and the Reinsurer shall jointly share in all other
costs of the arbitration.
The arbitration proceedings will be conducted according to the Commercial
Arbitration Rules of XXXXX-US, which are in effect at the time the arbitration
begins.
The arbitration will take place in Hartford, Connecticut unless the parties
mutually agree otherwise.
Within sixty (60) days after the beginning of the arbitration proceedings the
arbitrators will issue a written decision on the dispute and a statement of any
award to be paid as a result. The decision will be based on the terms and
conditions of this Agreement as well as the usual customs and practices of the
insurance and reinsurance industry, rather than on strict interpretation of the
law. The decision will be final and binding on both the Ceding Company and the
Reinsurer and there will be no further appeal.
The parties may mutually agree to extend any of the negotiation or arbitration
periods shown in this Article.
Unless otherwise decided by the arbitrators, the parties will share in their
proportion of all expenses resulting from the arbitration, including the fees
and expenses for the arbitrators, except that each party will be responsible for
its own attorneys' fees.
ARTICLE XX
TERMINATION
A. The Ceding Company and the Reinsurer may terminate this Agreement as it
applies to the new business of each by giving ninety (90) days' written notice
of termination. The day the notice is deposited in the mail addressed to the
Home Office, or to an Officer of each party, will be the first day of the
ninety-day (90) period. In addition, this Agreement
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may be terminated immediately for the acceptance of new reinsurance by either
party if one of the parties becomes insolvent as described in Article XVII.
B. During the ninety-day (90) period, this Agreement will continue to be in
force between the terminating parties.
C. After termination, the terminating parties shall remain liable under the
terms of this Agreement for all Automatic and Facultative Reinsurance that
becomes effective prior to termination of this Agreement. After termination, the
Reinsurer shall be liable for all Automatic and Facultative Reinsurance that has
an application date on or before the effective date of the termination.
ARTICLE XXI
GENERAL PROVISIONS
A. Entire Contract
This Agreement with any attached Schedules and Exhibits shall constitute the
entire contract between the parties with respect to the business being reinsured
hereunder and there are no understandings between the parties other than as
expressed herein.
B. Modifications
Any modification or change to the provisions of this Agreement shall be null and
void unless set forth in a written amendment to the Agreement which is signed by
all parties to the amendment.
C. Severability
In the event that any provision or term of this Agreement shall be held by any
court, arbitrator, or administrative agency to be invalid, illegal or
unenforceable, all of the other terms and provisions shall remain in full force
and effect to the extent that their continuance is practicable and consistent
with the original intent of the parties. In addition, if any provision or term
is held invalid, illegal or unenforceable, the parties will attempt in good
faith to renegotiate the Agreement to carry out the original intent of the
parties.
D. Survival
All provisions of this Agreement shall survive its termination to the extent
necessary to carry out the purposes of this Agreement or to ascertain and
enforce the parties' rights or obligations hereunder existing at the time of
termination.
E. Non-Waiver
No waiver by either party of any violation or default by the other party in the
performance of any promise, term or condition of this Agreement shall be
construed to be a waiver by such party of any other or subsequent default in
performance of the same or any other promise, term or condition of this
Agreement. No prior transactions or dealings between the parties shall be deemed
to establish any custom or usage waiving or modifying any
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provision hereof. The failure of either party to enforce any part of this
Agreement shall not constitute a waiver by such party of its right to do so, nor
shall it be deemed to be an act of ratification or consent.
F. Governing Law
This Agreement shall be governed by the laws of the state of Connecticut.
G. Assignment
Neither party may assign any of its rights, duties or obligations under this
Agreement without the prior written consent of the other party.
H. Counterparts
This Agreement may be executed in one or more counterparts, each of which shall
constitute an original.
I. Force Majeure
Neither party shall be liable for any delay or non-performance of any covenant
contained herein nor shall any such delay or non-performance constitute a
default hereunder, or give rise to any liability for damages if such delay or
non-performance is caused by an event of "force majeure." As used herein, the
term "Force Majeure," means an event, explosion, action of the elements, strike
or other labor relations problem, restriction or restraint imposed by law, rule
or regulation of any public authority, whether federal, state or local, and
whether civil or military, act of any military authority, interruption of
transportation facilities or any other cause which is beyond the reasonable
control of such party and which by the exercise of reasonable diligence such
party is unable to prevent. The existence of any event of Force Majeure shall
extend the term of performance on the part of such party to complete performance
in the exercise of reasonable diligence after the event of Force Majeure has
been removed.
J. No Limitation on Disclosure of Tax Treatment
Notwithstanding anything herein to the contrary, each party to this Agreement
(and each employee, representative, or other agent of such party) may consult
any tax advisor regarding the U.S. federal income tax treatment or tax structure
of the transaction (the "Tax Transaction"), and disclose to any and all persons,
without limitation of any kind, the Tax Treatment and all materials of any kind
(including opinions or other tax analyses) that are provided to such party
relating to the Tax Treatment. The permission to disclose the Tax Treatment is
limited to any facts relevant to the U.S. federal income Tax Treatment and does
not include information relating to the identity of the parties.
ARTICLE XXII
CONFIDENTIALITY
As used herein, "Confidential Information" means all of our confidential,
proprietary, or trade secret information, including, but not limited to, all
information on the Ceding Company's customers and claimants and other
information the Ceding Company discloses to the Reinsurer.
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The term "Confidential Information" does not include any information which (i)
at the time of disclosure or thereafter is generally available to and known by
the public other than by way of a wrongful disclosure by a party or its
Representatives; (ii) was available on a non-confidential basis from a source
other than the parties hereto or their Representatives, provided that such
source is not and was not bound by a confidentiality agreement with a party
hereto; or (iii) was independently developed without violating any obligations
under this Agreement and without the use of any Confidential Information.
The Reinsurer shall maintain the confidentiality of the Confidential
Information, shall use it only for purposes for which it was disclosed. Except
as required by law, Reinsurer will not disclose Information to third parties
without the consent of Ceding Company; however, Ceding Company agrees that
Reinsurer may, in the normal course of its business, share Information with
other insurance and reinsurance companies ("Retrocessionnaires") to the extent
necessary to retrocede risk to the Retrocessionnaires, so long as the
Retrocessionnaires have agreed to maintain the confidentiality of the
Information on terms substantially similar to this Agreement.
ARTICLE XXIII
NOTICES AND COMMUNICATIONS
All notices and other communications hereunder shall be in writing and shall be
either (a) personally delivered, (b) delivered by messenger, (c) sent by a
nationally recognized overnight courier, (d) sent by fully completed and
confirmed facsimile transmission or (e) deposited in the mail, registered or
certified, with postage prepaid, return receipt requested, as follows:
If to the Ceding Company: If to the Reinsurer:
Individual Life Director of Vice President, Sales
Reinsurance
Hartford Life RGA Reinsurance Company
000 Xxxxxxxxx Xxxxxx 0000 Xxxxxxxxxx Xxxxx Xxxxxxx
Xxxxxxxx, XX 00000 Xxxxxxxxxxxx, XX 00000-6039
Facsimile: (000) 000-0000 Facsimile: (000) 000-0000
Copy (which shall not constitute Copy (which shall not constitute
notice) to: notice) to:
Chief Actuary
Hartford Life
000 Xxxxxxxxx Xxxxxx
Xxxxxxxx, XX 00000
Facsimile: (000) 000-0000
General Counsel General Counsel
Hartford Life RGA Reinsurance Company
000 Xxxxxxxxx Xxxxxx 0000 Xxxxxxxxxx Xxxxx Xxxxxxx
Xxxxxxxx, XX 00000 Xxxxxxxxxxxx, XX 00000-6039
Facsimile: (000) 000-0000 Facsimile:
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Or such other address or fax number as any party may request by notice given
under this section. The foregoing shall not preclude the effectiveness of actual
written notice given to a party at any address or by any means.
ARTICLE XXIV
EFFECTIVE DATE
The provisions of this Agreement shall be effective with respect to policies
issued on or after November 1, 2002 for facultative business and December 1,
2002 for automatic business.
ARTICLE XXV
EXECUTION
RGA REINSURANCE COMPANY
By: [ILLEGIBLE] Attest: Xxxxx Xxxxxxx
---------------------------- ----------------------------
Title: [ILLEGIBLE] Title: VP & Actuary
Date: 3-31-05 Date: 3/31/2005
HARTFORD LIFE INSURANCE COMPANY
By: /s/ Xxxxxx X. Xxxxxxxx Attest: /s/ Xxxxxxx X. Xxxxxx
---------------------------- ----------------------------
Xxxxxx X. Xxxxxxxx, FSA, Xxxxxxx X. Xxxxxx, FSA, MAAA
MAAA Vice President and Actuary
Assistant Vice President Individual Life Product
Management
Date: 3/31/2005 Date: 3/31/2005
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SCHEDULE A
PLANS COVERED UNDER THIS AGREEMENT
TYPE OF BUSINESS INDIVIDUAL LIFE INSURANCE ISSUED BY THE CEDING COMPANY
UPSCALE PRODUCTS RIDERS
Stag Protector Variable Universal Life Other Covered Insured
Stag Variable Life Accumulator Term Rider (base or other insured)
Stag Universal Life ADB Benefit (not reinsured)
SPVL (Fully underwritten only) Deduction Amount Waiver Rider
ART (CW), 5 & 10 Year Term (NY) Waiver of Monthly Deduction
One Year Term Waiver of Specified Amount
Stag Whole Life Enhanced No Lapse Guarantee Rider
Estate Tax Repeal Benefit Rider
Level Compensation Endorsement
Children's Life Insurance Rider
Maturity Date Extension
Guaranteed COI Benefit Rider
Mortality and Expense Risk Rates
Rider
MIDDLE AMERICA PRODUCTS RIDERS
LBSI UL Term Rider (base or other insured)
Life Solutions I UL Waiver of Premium Riders
Life Solutions II UL Waiver of Monthly Deduction Riders
20 Year Term Additional Purchase Option Rider
Disability Income Rider
WOODBURY PRODUCTS
Hartford Stag Wall Street Variable Term Rider
Universal Life ADB (not reinsured)
Waiver of Monthly Deduction
Waiver of Specified Amount
Cost of Living Adjustment Rider
Child Rider
Accelerated Benefit Rider
Specify Monthly Deductions
Enhanced No Lapse Guarantee
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SCHEDULE A
PLANS COVERED UNDER THIS AGREEMENT
DESCRIPTIONS
RIDERS WHERE ADDITIONAL PREMIUM IS DUE TO THE REINSURER:
Other Covered Insured: Provides term coverage for insured other than base
insured.
Term Rider (base or other insured): Provides additional term coverage
Deduction Amount Waiver Rider: Waives monthly deduction amount if insured is
disabled
Waiver of Monthly Deduction: Waives monthly deduction amount if insured is
disabled
Waiver of Specified Amount: Waives specified amount if insured is disabled
Children's Life Insurance Rider: Provides additional term coverage for a child
Waiver of Premium Riders: Waives premium requirement if insured is disabled
Additional Purchase Option Rider: Provides additional term coverage
Cost of Living Adjustment Rider: This rider is available at issue only for
nonsubstandard issue ages 0 to 60. The rider allows for face amount increases
without underwriting biannually based on the Consumer Price Index with the
maximum amount of this increase being $50,000.
RIDERS THAT ALTER THE POLICY AND IN WHICH NO ADDITIONAL PREMIUM IS PAID TO THE
REINSURER. IF A POLICY HAS THIS RIDER IT IS STILL COVERED UNDER THE AGREEMENT:
Enhanced No Lapse Guarantee Rider: This rider guarantees that the policy will
not lapse, regardless of investment performance, provided cumulative premiums
paid less indebtedness less withdrawals are greater than or equal to the
cumulative no lapse guarantee premiums. There is a life time option and a
limited term option. The limited term option is the lesser of 20 years or to
attained age 80 for issue ages 0 to 70 and the minimum of 10 years or to
attained age 90 for issue ages 71 to 85. Also, at the time when the no lapse
guarantee terminates or defaults, the policyholder may be eligible for an
additional amount of time they have this protection which is based on the then
current account value.
Estate Tax Repeal Benefit Rider: This rider will pay the account value less
indebtedness if the Federal Estate Tax Law is fully repealed by December 31,
2010 and we receive a request for this benefit amount from the insured.
Level Compensation Endorsement: Surrender charges are not assessed for a full
surrender during the first three policy years. There is no charge for this
rider.
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SCHEDULE A
PLANS COVERED UNDER THIS AGREEMENT
Maturity Date Extension Rider: When the policyholder reaches the maturity date
and has elected this rider, the death benefit is dropped to the account value,
no more monthly deductions are taken, interest is credited, no further premiums
are accepted, policy loans continue to accrue interest, and all other riders are
terminated.
Guaranteed COI Benefit Rider: This rider provides guaranteed cost of insurance
rates for the first 10 policy years. On each policy anniversary, we declare a
cost of insurance rate for a single policy year. This policy year is the policy
year 9 years from the then current policy anniversary. Thus the rider provides
that on any policy anniversary, cost of insurance rates over the next 10 years
will not exceed those provided by the rider. This rider is currently available
in only a few states and on variable life policy forms where the face amount is
at least thirty million dollars.
Accelerated Benefit Rider: With this rider, the policyholder can receive up to
100% of their death benefit discounted with interest if the life expectancy is
12 months or less.
Specify Monthly Deductions: This rider allows the policyholder to specify to
take monthly deductions out of a particular account in the policy.
Mortality and Expense Risk Rider: This rider guarantees that the mortality and
expense risk rate will be zero for years greater than and equal to 21.
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SCHEDULE B
BASIS OF REINSURANCE
REINSURANCE POOL SHARE:
[Redacted]
LEAD REINSURER:
[Redacted]
AUTOMATIC REINSURANCE
The Ceding Company will retain its available retention on each risk as
referenced in Exhibit II. The Reinsurance Pool Share of the remainder will be
ceded to the Reinsurer for reinsurance.
FACULTATIVE REINSURANCE
The Reinsurer will accept X% (as determined at issue) of the risk.
NET AMOUNT AT RISK DEFINITION:
[Redacted]
MINIMUM FACULTATIVE REINSURANCE CESSION:
[Redacted]
FACULTATIVE OBLIGATORY:
The Reinsurer shall provide the following Facultative Obligatory capacity:
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SCHEDULE C
FOREIGN NATIONAL PROGRAM
The Reinsurer and the Ceding Company agree that the Ceding Company's Foreign
National business will be reinsured under the terms of this Agreement except for
the following differences:
TYPE OF REINSURANCE
Individual life policies under this program will be on a first dollar quota
share basis
FOREIGN NATIONAL REINSURANCE POOL SHARE
[Redacted]
CEDING COMPANY'S RETENTION
[Redacted]
FOREIGN NATIONAL AUTOMATIC POOL BINDING LIMIT (excludes retention)
For issue ages through 75 and Table D:
JUMBO LIMIT:
[Redacted]
UNDERWRITING GUIDELINES
[Redacted]
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SCHEDULE C
FOREIGN NATIONAL PROGRAM
[Redacted]
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SCHEDULE D
TABLE 2 TO STANDARD PROGRAM
Although the Reinsurer is not participating, the Reinsurer agrees that the
Ceding Company will be allowed to participate in a Table 2 to Standard Program
as outlined below.
ELIGIBILITY REQUIREMENTS
- Case's Minimum Face: [Redacted]
- Maximum Cession: [Redacted]
- Athletes, Entertainers, Aviation Maximum Cession:
- Issue Ages: 5-75
- The risk must be a true table 2 based on the Ceding Company's normal
underwriting guidelines.
- The case must meet the requirements for Automatic Reinsurance as
described in Article II, except that the Ceding Company will not be
required to retain its maximum limit of retention on amounts ceded to
the Program (see "Allocation" section below).
- Automatic Processing and Facultative Obligatory cases are not
eligible.
- No increasing face designs or riders (except mortgage market step up
options are acceptable.)
- No foreign nationals or foreign residents. Canadian or US residents
only.
- Riders on either the base insured or another insured are eligible.
- Flat extras equivalent to or less than a table 2 are eligible.
Equivalence determined as follows:
ISSUE AGES [Redacted] FLAT EXTRA PER THOUSAND X NUMBER OF YEARS APPLIED
ALLOCATION OF CASES AMONG THE REINSURER, THE CEDING COMPANY'S RETENTION, AND THE
POOL
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SCHEDULE D
TABLE 2 TO STANDARD PROGRAM
REINSURANCE RATES
Same as rates charged by the Reinsurer for the standard class (male or female,
nicotine or non nicotine, as appropriate) under this Agreement.
ELIGIBLE PRODUCTS:
LBSI
Life Solutions I UL
Life Solutions II UL
20 Year Term
Hartford Stag Wall Street Variable Universal Life
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EXHIBIT I
REINSURANCE PREMIUM CALCULATION
1. REINSURANCE PREMIUM
Annual YRT Reinsurance Premium
[Redacted]
2. PREMIUM TAX
Premium tax will not be reimbursed.
3. FLAT EXTRA ALLOWANCES
The flat extra premium paid to the Reinsurer will be the annual flat extra rate
which the Ceding Company charges the insured less the allowances below times the
Reinsured Net Amount at Risk.
Duration of Flat First Year Renewal Years
Extra
Less than 5 years [Redacted] [Redacted]
5 years or more
4. RIDERS
Term riders, cost of living riders, and other riders providing additional or
increasing coverage will use the same methods and YRT rates as the base plan.
Waiver of premium rates are attached and are per dollar of annualized amount.
Deduction amount waiver rates (also called "waiver of monthly deductions") are
attached, and the charge for this benefit is a rate times the monthly deduction
amount. Our retention on both types of waivers is proportional to our retention
on the death benefit. . For both the Waiver of Premium and Waiver of Monthly
Deduction, the reinsurance premium will be net of the following allowances:
First Year Renewal Years
[Redacted] [Redacted]
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EXHIBIT II
SINGLE LIFE RETENTION, BINDING, AND TOTAL POOL ISSUE LIMITS
(Applicable to Total Pool for Single Life Pool Business -- NOT LS, Custom Term,
& Stag UL+)
Effective November 1, 2002
RETENTION LIMIT
[Redacted]
AUTOMATIC BINDING LIMIT (EXCLUDES RETENTION)
[Redacted]
AUTOMATIC ISSUE LIMIT (INCLUDES RETENTION)
[Redacted]
AUTOMATIC PROCESSING LIMIT (INCLUDES RETENTION)
[Redacted]
FACULTATIVE OBLIGATORY AUTOMATIC BINDING LIMIT (EXCLUDES RETENTION)
[Redacted]
FACULTATIVE OBLIGATORY AUTOMATIC ISSUE LIMIT (INCLUDES RETENTION)
[Redacted]
JUMBO LIMIT
[Redacted]
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EXHIBIT III
Annual per 1000 Yearly Renewable Term reinsurance rates are attached.
These rates are used for Automatic, Facultative Obligatory, and Facultative
policies.
Products Using Multi-class Rate Tables: [Redacted]
Stag Protector Variable Universal Life
Stag Accumulator Variable Universal Life
Stag Universal Life
Whole Life with Current Interest Life Insurance Policy
Hartford Stag Wall Street Variable Universal Life
Products Using Uni-class Rate Tables: [Redacted]
LBSI UL
Life Solutions I UL
Life Solutions II UL
20 Year Term
ART (CW)
5 & 10 Year Term (NY)
SPVL
One Year Term
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SINGLE LIFE 2002 MULTICLASS ANNUAL YRT PER 1000 REINSURANCE RATES
[Redacted]
Monthly Per 1000
Waiver of Specified Amount
Male Female Unisex
[Redacted] [Redacted] [Redacted]
8596-00-10
AMENDMENT
to the
AUTOMATIC AND FACULTATIVE YEARLY RENEWABLE TERM REINSURANCE AGREEMENT
FACULTATIVE BUSINESS EFFECTIVE NOVEMBER 1, 2002
AUTOMATIC BUSINESS EFFECTIVE DECEMBER 1, 2002
between
HARTFORD LIFE INSURANCE COMPANY, HARTFORD, CONNECTICUT
(hereinafter called the "Ceding Company")
and
RGA REINSURANCE COMPANY, CHESTERFIELD, MISSOURI
(hereinafter called the "Reinsurer")
THIS AMENDMENT IS EFFECTIVE JANUARY 1, 2006
I. PREMIUMS AND PAY PERCENTAGES
Effective for new business issued on and after the effective date of this
Amendment, the Single Life 2002 Multi-class and Uni-class Annual YRT Per 1000
Reinsurance Rates are hereby revised and replaced by the attached 2001 Select
and Ultimate VBT (Valuation Basic Table).
Effective for new business issued on and after the effective date of this
Amendment, Exhibit I, Reinsurance Premium Calculation, section 1. Reinsurance
Premium, Annual YRT Reinsurance Premium is hereby revised and replaced as
follows:
"1. Reinsurance Premium
Annual YRT Reinsurance Premium
[Redacted]
1
II. RECAPTURE PERIOD
As of the effective date of this Amendment, Article X, Increase in Retention,
item C. 4. is hereby revised to read as follows: for new business issued on or
after the effective date of this Amendment .[ILLEGIBLE]
"C. If the Ceding Company exercises its option to recapture, then:
4. The reduction in reinsurance will become effective on the next
annual premium anniversary after the individual policy has been
inforce for at least twenty (20) years."
III. All provisions of the Automatic and Facultative Yearly Renewable Term
Reinsurance Agreement not specifically modified herein remain unchanged.
IN WITNESS WHEREOF, all parties have executed this Amendment in duplicate as
follows:
HARTFORD LIFE INSURANCE COMPANY RGA REINSURANCE COMPANY
By: /s/ Xxxxxx X. Xxxxxxxx By: [ILLEGIBLE]
------------------------- -------------------------
(Signature) (Signature)
Title: Assistant Vice President, Title: Vice President
Individual Life Product
Development
Date: 4/26/2006 Date: 3-28-06
Location: [ILLEGIBLE], CT Location: St. Louis, Mo
2
[Redacted]
RS# 011703
AMENDMENT 1
EFFECTIVE DECEMBER 1, 2002 (AUTO)
EFFECTIVE NOVEMBER 1, 2002 (FAC)
TO THE
REINSURANCE AGREEMENT
EFFECTIVE DECEMBER 1, 2002 (AUTO)
EFFECTIVE NOVEMBER 1, 2002 (FAC)
BETWEEN
HARTFORD LIFE INSURANCE COMPANY
("CEDING COMPANY")
AND
RGA REINSURANCE COMPANY
("REINSURER")
RECITALS
WHEREAS, Xxxxxxxxx currently reinsures Ceding Company's plans or policies under
the Agreement; and
WHEREAS, Ceding Company and Reinsurer wish to amend or modify, Schedule A under
the Agreement.
NOW, THEREFORE for good and valuable considerations, receipt of which is hereby
acknowledged, Ceding Company and Reinsurer hereby agree as follows:
AMENDMENT
The parties hereby agree to amend or modify the Agreement, by amending Schedule
A to reflect the inclusion of the Foreign Travel Exclusion Rider as a plan to be
reinsured under the terms of this Reinsurance Agreement.
The parties agree to remove Schedule A, in its entirety and replace it with the
attached Schedule A, effective November 1, 2002 for Facultative business and
December 1, 2002 for Automatic business.
The Underwriting Guidelines for the Foreign Travel Exclusion Rider are added as
Foreign Travel Exclusion Rider Exhibit I.
The List of Countries and Jurisdictions for the Foreign Travel Exclusion Rider
are added as Foreign Travel Exclusion Rider Exhibit II.
Single Life 12/01/2002 -- Amendment 1
Between HLIC and RGA
1
Except as herein amended, all other terms and conditions of this Agreement shall
remain unchanged.
In witness of the foregoing, Ceding Company and Reinsurer have, by their
respective officers, hereby executed this Amendment in duplicate on the dates
indicated below, with an effective date of November 1, 2002 for Facultative
business and December 1, 2002 for Automatic business.
RGA REINSURANCE COMPANY
By: /s/ [ILLEGIBLE] Attest: /s/ Xxxxx Xxxxxxx
-------------------------------- --------------------------------
Name: [ILLEGIBLE] Name: Xxxxx Xxxxxxx
Title: Sales Vice President Title: Vice President & Actuary
Date: 10-25-05 Date: 10/25/2005
HARTFORD LIFE INSURANCE COMPANY.
By: /s/ Xxxxxx X. Xxxxxxxx Attest: /s/ Xxxx Xxxxxx
-------------------------------- --------------------------------
Name: Xxxxxx X. Xxxxxxxx Name: Xxxx Xxxxxx
Title: Assistant Vice President, Title: Vice President,
Individual Life Product Individual Life Product
Development Development
Date: 11/11/2005 Date: 11/11/2005
Single Life 12/01/2002 -- Amendment 1
Between HLIC and RGA
2
SCHEDULE A
PLANS COVERED UNDER THIS AGREEMENT
TYPE OF BUSINESS Individual life insurance issued by the Ceding Company
UPSCALE PRODUCTS RIDERS
----------------------------------------------------------------------------------------------------------------
Stag Protector Variable Universal Life Other Covered Insured
Stag Variable Life Accumulator Term Rider (base or other insured)
Stag Universal Life ADB Benefit (not reinsured)
SPVL (Fully underwritten only) Deduction Amount Waiver Rider
ART (CW), 5 & 10 Year Term (NY) Waiver of Monthly Deduction
One Year Term Waiver of Specified Amount
Stag Whole Life Enhanced No Lapse Guarantee Rider
Estate Tax Repeal Benefit Rider
Level Compensation Endorsement
Children's Life Insurance Rider
Maturity Date Extension
Guaranteed COI Benefit Rider
Mortality and Expense Risk Rates Rider
Foreign Travel Exclusion Rider
MIDDLE AMERICA PRODUCTS RIDERS
----------------------------------------------------------------------------------------------------------------
LBSI UL Term Rider (base or other insured)
Life Solutions I UL Waiver of Premium Riders
Life Solutions II UL Waiver of Monthly Deduction Riders
20 Year Term Additional Purchase Option Rider
Disability Income Rider
WOODBURY PRODUCTS
----------------------------------------------------------------------------------------------------------------
Hartford Stag Wall Street Variable Universal Life Term Rider
ADB (not reinsured)
Waiver of Monthly Deduction
Waiver of Specified Amount
Cost of Living Adjustment Rider
Child Rider
Accelerated Benefit Rider
Specify Monthly Deductions
Enhanced No Lapse Guarantee
Single Life 12/01/2002 -- Amendment 1
Between HLIC and RGA
3
SCHEDULE A
PLANS COVERED UNDER THIS AGREEMENT
DESCRIPTIONS
RIDERS WHERE ADDITIONAL PREMIUM IS DUE TO THE REINSURER:
Other Covered Insured: Provides term coverage for insured other than base
insured.
Term Rider (base or other insured): Provides additional term coverage
Deduction Amount Waiver Rider: Waives monthly deduction amount if insured is
disabled
Waiver of Monthly Deduction: Waives monthly deduction amount if insured is
disabled
Waiver of Specified Amount: Waives specified amount if insured is disabled
Children's Life Insurance Rider: Provides additional term coverage for a child.
Waiver of Premium Riders: Waives premium requirement if insured is disabled
Additional Purchase Option Rider: Provides additional term coverage
Cost of Living Adjustment Rider: This rider is available at issue only for
nonsubstandard issue ages 0 to 60. The rider allows for face amount increases
without underwriting biannually based on the Consumer Price Index with the
maximum amount of this increase being $50,000.
RIDERS THAT ALTER THE POLICY AND IN WHICH NO ADDITIONAL PREMIUM IS PAID TO THE
REINSURER. IF A POLICY HAS THIS RIDER IT IS STILL COVERED UNDER THE AGREEMENT:
Enhanced No Lapse Guarantee Rider: This rider guarantees that the policy will
not lapse, regardless of investment performance, provided cumulative premiums
paid less indebtedness less withdrawals are greater than or equal to the
cumulative no lapse guarantee premiums. There is a lifetime option and a limited
term option. The limited term option is the lesser of 20 years or to attained
age 80 for issue ages 0 to 70 and the minimum of 10 years or to attained age 90
for issue ages 71 to 85. Also, at the time when the no lapse guarantee
terminates or defaults, the policyholder may be eligible for an additional
amount of time they have this protection, which is based on the then current
account value.
Estate Tax Repeal Benefit Rider: This rider will pay the account value less
indebtedness if the Federal Estate Tax Law is fully repealed by December 31,
2010 and we receive a request for this benefit amount from the insured.
Level Compensation Endorsement: Surrender charges are not assessed for a full
surrender during the first three policy years. There is no charge for this
rider.
Single Life 12/01/2002 -- Amendment 1
Between HLIC and RGA
4
SCHEDULE A
PLANS COVERED UNDER THIS AGREEMENT
Maturity Date Extension Rider: When the policyholder reaches the maturity date
and has elected this rider, the death benefit is dropped to the account value,
no more monthly deductions are taken, interest is credited, no further premiums
are accepted, policy loans continue to accrue interest, and all other riders are
terminated.
Guaranteed COI Benefit Rider: This rider provides guaranteed cost of insurance
rates for the first 10 policy years. On each policy anniversary, we declare a
cost of insurance rate for a single policy year. This policy year is the policy
year 9 years from the then current policy anniversary. Thus the rider provides
that on any policy anniversary, cost of insurance rates over the next 10 years
will not exceed those provided by the rider. This rider is currently available
in only a few states and on variable life policy forms where the face amount is
at least thirty million dollars.
Accelerated Benefit Rider: With this rider, the policyholder can receive up to
100% of their death benefit discounted with interest if the life expectancy is
12 months or less.
Specify Monthly Deductions: This rider allows the policyholder to specify to
take monthly deductions out of a particular account in the policy.
Mortality and Expense Risk Rider: This rider guarantees that the mortality and
expense risk rate will be zero for years greater than and equal to 21.
Foreign Travel Exclusion Rider: The rider is written such that if the insured
dies while traveling to, from, or in a country NOT listed on the List of
Countries and Jurisdictions (Foreign Travel Exclusion Rider Exhibit II), or dies
as a direct or indirect result of an illness or injury sustained during such
travel, the death benefit proceeds will be limited to the policy's account
value, less any outstanding indebtedness.
Single Life 12/01/2002 -- Amendment 1
Between HLIC and RGA
5
FOREIGN TRAVEL EXCLUSION RIDER EXHIBIT I
UNDERWRITING GUIDELINES
[Redacted]
Single Life 12/01/2002 -- Amendment 1
Between HLIC and RGA
6
FOREIGN TRAVEL EXCLUSION RIDER EXHIBIT II
LIST OF COUNTRIES AND JURISDICTIONS
[Redacted]
Single Life 12/01/2002 -- Amendment 1
Between HLIC and RGA
7
AMENDMENT 2
EFFECTIVE JULY 21, 2003
TO THE
REINSURANCE AGREEMENT
EFFECTIVE DECEMBER 1, 2002 (AUTO)
EFFECTIVE NOVEMBER 1, 2002 (FAC)
BETWEEN
HARTFORD LIFE INSURANCE COMPANY
("CEDING COMPANY")
AND
RGA REINSURANCE COMPANY
("REINSURER")
RECITALS
WHEREAS, the Reinsurer currently reinsures the Ceding Company's plans or
policies under the Agreement; and
WHEREAS, the Ceding Company and the Reinsurer wish to amend or modify Article
II, Section A, Part 3 under the Agreement.
NOW, THEREFORE for good and valuable considerations, receipt of which is hereby
acknowledged, the Ceding Company and the Reinsurer hereby agree as follows:
AMENDMENT
The parties hereby agree to amend or modify the Agreement, by amending Article
II, Section A, Part 3 to reflect the change in the requirements for automatic
reinsurance, for policies issued on or after the effective date.
The parties agree to remove Article II, Section A, Part 3 in its entirety and
replace it with the attached Article II, Section A, Part 3 effective July 21,
2003.
Except as herein amended, all other terms and conditions of this Agreement shall
remain unchanged.
Single Life 12/01/2002 -- Amendment 2
Between HLIC and RGA
1
In witness of the foregoing, the Ceding Company and the Reinsurer have, by their
respective officers, hereby executed this Amendment in duplicate on the dates
indicated below, with an effective date of July 21, 2003.
RGA REINSURANCE COMPANY
By: /s/ [ILLEGIBLE] Attest: /s/ Xxxxx Xxxxxxx
------------------------------ ------------------------------
Name: [ILLEGIBLE] Name: Xxxxx Xxxxxxx
Title: Sales Vice President Title: Vice President & Actuary
Date: 10-25-05 Date: 10/25/2005
HARTFORD LIFE INSURANCE COMPANY
By: /s/ Xxxxxx X. Xxxxxxxx Attest: /s/ Xxxxxxx X. Xxxxxx
------------------------------ ------------------------------
Name: Xxxxxx X. Xxxxxxxx Name: Xxxxxxx X. Xxxxxx
Title: Assistant Vice President, IL Title: Vice President
Product Development
Date: 11/11/2005 Date: 11/11/2005
Single Life 12/01/2002 -- Amendment 2
Between HLIC and RGA
2
ARTICLE II
REINSURANCE COVERAGE
Reinsurance under this Agreement will apply to insurance issued by the Ceding
Company on the Plans of Insurance shown in Schedule A. Such Plans of Insurance
shall be reinsured with the Reinsurer on an automatic basis, subject to the
requirements set forth in Section A below, or on a facultative basis, subject to
the requirements set forth in Section B below, or on a facultative obligatory
basis, subject to the requirements set forth in Section C below. The
specifications for all reinsurance under this Agreement are provided in Schedule
B.
A Requirements for Automatic Reinsurance
For risks which meet the requirements for Automatic Reinsurance as set forth
below, the Reinsurer will participate in a reinsurance pool whereby the
Reinsurer will automatically reinsure a portion of the insurance risks as
indicated in Schedule B. The requirements for Automatic Reinsurance are as
follows:
1. The individual risk must be a resident of the United States or
Canada at the time of application with the exception of the Foreign
National Program as specified in Schedule C.
2. The individual risk must be underwritten according to the Ceding
Company's standard underwriting practices and guidelines. Any risk
falling into the category of special underwriting programs will be
excluded from this Agreement unless previously agreed to by the
Reinsurer via a written amendment.
3. Any new policy on the life of an insured who was previously
submitted to the Reinsurer on a facultative basis will qualify for
Automatic Reinsurance if at least 3 years have elapsed since the
previous policy was submitted on a facultative basis by the Ceding
Company to the Reinsurer or any other current pool reinsurer under
this Agreement, unless the original reason for submitting
facultatively no longer applies (for example, with Jumbo policies,
then the three (3) year rule will not be enforced).
4. The maximum issue age will be 90.
B Requirements for Facultative Reinsurance
Single Life 12/01/2002 -- Amendment 2
Between HLIC and RGA
3
1. If the requirements for Automatic Reinsurance are met, but the Ceding
Company prefers to apply for Facultative Reinsurance with the
Reinsurer, or if the requirements for Automatic Reinsurance are not met
and the Ceding Company applies for Facultative Reinsurance with the
Reinsurer, then the Ceding Company must submit to the Reinsurer all the
papers, facsimiles, or sufficient evidence agreed upon between the
Ceding Company and the Reinsurer relating to the insurability of the
individual life for Facultative Reinsurance.
2. For applications for Facultative Reinsurance, the Ceding Company will
send copies of all of the papers or facsimiles relating to the
insurability of the individual risk to the Reinsurer. After the
Reinsurer has examined the request, the Reinsurer will promptly notify
the Ceding Company of the underwriting offer subject to additional
requirements or the final underwriting offer. The final underwriting
offer on the individual risk will automatically terminate upon the
earlier of the withdrawal of the application or 120 days from the date
of the final offer, unless coverage is accepted or put in place
earlier.
3. Notwithstanding the above, if the requirements for Automatic
Reinsurance are met except that the face amount of reinsurance applied
for is greater than the Automatic Issue Limit, but does not exceed the
Automatic Processing Limit, then the Ceding Company will submit to the
Lead Reinsurer (as designated in Schedule B) all papers relating to the
insurability of the individual risk. The Lead Reinsurer shall review
the papers to determine if the risk should be reinsured by the pool,
and, if so, on what basis. The Lead Reinsurer shall provide the Ceding
Company with a response within 24 hours of receipt of the papers.
Approval of the Lead Reinsurer shall be binding on all other pool
members. This process shall be known as Automatic Processing and
subject to the limitations in Exhibit II.
C Requirements for Facultative Obligatory Reinsurance
The Reinsurer agrees to a facultative obligatory arrangement whereby the Ceding
Company may cede a risk to the Reinsurer and the Reinsurer agrees to accept the
risk using the Ceding Company's underwriting evaluation, subject to the
following conditions:
1. The requirements for Automatic Reinsurance specified in Article II
must be met with one exception. This exception is that the total
amount of insurance issued and applied for in all companies on each
risk has exceeded the Jumbo Limits set forth in Exhibit II.
2. The arrangement is available on all policy forms covered under this
Reinsurance Agreement.
3. The ceded risk is subject to the Facultative Obligatory Automatic
Binding Limits and the Facultative Obligatory Automatic Issue
Limits, as stated in Exhibit II. However, to the extent that the
Reinsurer has already filled its available capacity on the risk, the
Reinsurer may reduce the provided capacity by notifying the Ceding
Company. In addition, the Reinsurer may choose to provide
Facultative Obligatory capacity greater than as specified in
Schedule B.
Single Life 12/01/2002 -- Amendment 2
Between HLIC and RGA
4
4. The Reinsurer will have a reasonable amount of time, but not to
exceed two (2) business days, to respond to the Ceding Company's
request for Facultative Obligatory risk.
D Basis of Reinsurance
Reinsurance under this Agreement will be on the basis as stated in Schedule B.
E Policy Forms
When requested, the Ceding Company will furnish the Reinsurer with a copy of
each policy, rider, rate book, and applicable sales or marketing material that
applies to the life insurance reinsured hereunder.
Single Life 12/01/2002 -- Amendment 2
Between HLIC and RGA
5
(000) 0000-00-00
AMENDMENT 3
EFFECTIVE DECEMBER 1, 2003
TO THE
REINSURANCE AGREEMENT
EFFECTIVE DECEMBER 1, 2002 (AUTO)
EFFECTIVE NOVEMBER 1, 2002 (FAC)
BETWEEN
HARTFORD LIFE INSURANCE COMPANY
("CEDING COMPANY")
AND
RGA REINSURANCE COMPANY
("REINSURER")
RECITALS
WHEREAS, the Reinsurer currently reinsures the Ceding Company's plans or
policies under the Agreement; and
WHEREAS, the Ceding Company and the Reinsurer wish to amend or modify Schedule A
under the Agreement.
NOW, THEREFORE for good and valuable considerations, receipt of which is hereby
acknowledged, the Ceding Company and the Reinsurer hereby agree as follows:
AMENDMENT
The parties hereby agree to amend or modify the Agreement, by amending Schedule
A to reflect the inclusion of Stag Variable Life Accumulator II, Stag Protector
Variable Universal Life II and the Policy Continuation Rider as plans to be
reinsured under the terms of this Reinsurance Agreement.
The parties agree to remove Schedule A, in its entirety and replace it with the
attached Schedule A, effective December 1, 2003.
Except as herein amended, all other terms and conditions of this Agreement shall
remain unchanged.
Single Life 12/01/2002 -- Amendment 3
Between HLIC and RGA
1
In witness of the foregoing, the Ceding Company and the Reinsurer have, by their
respective officers, hereby executed this Amendment in duplicate on the dates
indicated below, with an effective date of December 1, 2003.
RGA REINSURANCE COMPANY
By: /s/ X. Xxxxxxx Attest: /s/ Xxxxx Xxxxxxx
------------------------------ ------------------------------
Name: X. Xxxxxxx Name: Xxxxx Xxxxxxx
Title: Sales Vice President Title: Vice President & Actuary
Date: 10-25-05 Date: 10/25/2005
HARTFORD LIFE INSURANCE COMPANY
By: /s/ Xxxxxx X. Xxxxxxxx Attest: /s/ Xxxx Xxxxxx
------------------------------ ------------------------------
Name: Xxxxxx X. Xxxxxxxx Name: Xxxx Xxxxxx
Title: Assistant Vice President, Title: Vice President, Individual
Individual Life Product Life Product Development
Development
Date: 11/11/2005 Date: 11/11/2005
Single Life 12/01/2002 -- Amendment 3
Between HLIC and RGA
2
SCHEDULE A
PLANS COVERED UNDER THIS AGREEMENT
EFFECTIVE DECEMBER 1, 2003
TYPE OF BUSINESS Individual life insurance issued by
the Ceding Company
UPSCALE PRODUCTS RIDERS
----------------------------------------------------------------------------------------------------------------
Stag Protector Variable Universal Life Other Covered Insured
Stag Variable Life Accumulator Term Rider (base or other insured)
Stag Universal Life ADB Benefit (not reinsured)
SPVL (Fully underwritten only) Deduction Amount Waiver Rider
ART (CW), 5 & 10 Year Term (NY) Waiver of Monthly Deduction
One Year Term Waiver of Specified Amount
Stag Whole Life Enhanced No Lapse Guarantee Rider
Stag Protector Variable Universal Life II Estate Tax Repeal Benefit Rider
Stag Variable Life Accumulator II Level Compensation Endorsement
Children's Life Insurance Rider
Maturity Date Extension
Guaranteed COI Benefit Rider
Mortality and Expense Risk Rates Rider
Foreign Travel Exclusion Rider
Policy Continuation Rider
MIDDLE AMERICA PRODUCTS RIDERS
----------------------------------------------------------------------------------------------------------------
LBSI UL Term Rider (base or other insured)
Life Solutions I UL Waiver of Premium Riders
Life Solutions II UL Waiver of Monthly Deduction Riders
20 Year Term Additional Purchase Option Rider
Disability Income Rider
WOODBURY PRODUCTS
----------------------------------------------------------------------------------------------------------------
Hartford Stag Wall Street Variable Universal Life Term Rider
ADB (not reinsured)
Waiver of Monthly Deduction
Waiver of Specified Amount
Cost of Living Adjustment Rider
Child Rider
Accelerated Benefit Rider
Specify Monthly Deductions
Enhanced No Lapse Guarantee
Single Life 12/01/2002 -- Amendment 3
Between HLIC and RGA
3
SCHEDULE A
PLANS COVERED UNDER THIS AGREEMENT
EFFECTIVE DECEMBER 1, 2003
DESCRIPTIONS
RIDERS WHERE ADDITIONAL PREMIUM IS DUE TO THE REINSURER:
Other Covered Insured: Provides term coverage for insured other than base
insured.
Term Rider (base or other insured): Provides additional term coverage
Deduction Amount Waiver Rider: Waives monthly deduction amount if insured is
disabled
Waiver of Monthly Deduction: Waives monthly deduction amount if insured is
disabled
Waiver of Specified Amount: Waives specified amount if insured is disabled
Children's Life Insurance Rider: Provides additional term coverage for a child.
Waiver of Premium Riders: Waives premium requirement if insured is disabled
Additional Purchase Option Rider: Provides additional term coverage
Cost of Living Adjustment Rider: This rider is available at issue only for
nonsubstandard issue ages 0 to 60. The rider allows for face amount increases
without underwriting biannually based on the Consumer Price Index with the
maximum amount of this increase being $50,000.
RIDERS THAT ALTER THE POLICY AND IN WHICH NO ADDITIONAL PREMIUM IS PAID TO THE
REINSURER. IF A POLICY HAS THIS RIDER IT IS STILL COVERED UNDER THE AGREEMENT:
Enhanced No Lapse Guarantee Rider: This rider guarantees that the policy will
not lapse, regardless of investment performance, provided cumulative premiums
paid less indebtedness less withdrawals are greater than or equal to the
cumulative no lapse guarantee premiums. There is a lifetime option and a limited
term option. The limited term option is the lesser of 20 years or to attained
age 80 for issue ages 0 to 70 and the minimum of 10 years or to attained age 90
for issue ages 71 to 85. Also, at the time when the no lapse guarantee
terminates or defaults, the policyholder may be eligible for an additional
amount of time they have this protection, which is based on the then current
account value.
Estate Tax Repeal Benefit Rider: This rider will pay the account value less
indebtedness if the Federal Estate Tax Law is fully repealed by December 31,
2010 and we receive a request for this benefit amount from the insured.
Level Compensation Endorsement: Surrender charges are not assessed for a full
surrender during the first three policy years. There is no charge for this
rider.
Single Life 12/01/2002 -- Amendment 3
Between HLIC and RGA
4
SCHEDULE A
PLANS COVERED UNDER THIS AGREEMENT
EFFECTIVE DECEMBER 1, 2003
Maturity Date Extension Rider: When the policyholder reaches the maturity date
and has elected this rider, the death benefit is dropped to the account value,
no more monthly deductions are taken, interest is credited, no further premiums
are accepted, policy loans continue to accrue interest, and all other riders are
terminated.
Guaranteed COI Benefit Rider: This rider provides guaranteed cost of insurance
rates for the first 10 policy years. On each policy anniversary, we declare a
cost of insurance rate for a single policy year. This policy year is the policy
year 9 years from the then current policy anniversary. Thus the rider provides
that on any policy anniversary, cost of insurance rates over the next 10 years
will not exceed those provided by the rider. This rider is currently available
in only a few states and on variable life policy forms where the face amount is
at least thirty million dollars.
Accelerated Benefit Rider: With this rider, the policyholder can receive up to
100% of their death benefit discounted with interest if the life expectancy is
12 months or less.
Specify Monthly Deductions: This rider allows the policyholder to specify to
take monthly deductions out of a particular account in the policy.
Mortality and Expense Risk Rider: This rider guarantees that the mortality and
expense risk rate will be zero for years greater than and equal to 21.
Policy Continuation Rider: This rider is automatically added to the policy at
issue. This rider is intended to prevent the lapse of highly loaned policies.
Foreign Travel Exclusion Rider: The rider is written such that if the insured
dies while traveling to, from, or in a country NOT listed on the List of
Countries and Jurisdictions (Foreign Travel Exclusion Rider Exhibit II), or dies
as a direct or indirect result of an illness or injury sustained during such
travel, the death benefit proceeds will be limited to the policy's account
value, less any outstanding indebtedness.
Single Life 12/01/2002 -- Amendment 3
Between HLIC and RGA
5
AMENDMENT 4
EFFECTIVE MARCH 1, 2004
TO THE
REINSURANCE AGREEMENT
EFFECTIVE DECEMBER 1, 2002 (AUTO)
EFFECTIVE NOVEMBER 1, 2002 (FAC)
BETWEEN
HARTFORD LIFE INSURANCE COMPANY
("CEDING COMPANY")
AND
RGA REINSURANCE COMPANY
("REINSURER")
RECITALS
WHEREAS, Xxxxxxxxx currently reinsures Ceding Company's plans or policies under
the Agreement; and
WHEREAS, Ceding Company and Reinsurer wish to amend or modify, Schedule C under
the Agreement.
NOW, THEREFORE for good and valuable considerations, receipt of which is hereby
acknowledged, Ceding Company and Reinsurer hereby agree as follows:
AMENDMENT
The parties hereby agree to amend or modify the Agreement, by amending Schedule
C to reflect the change in the Foreign National Reinsurance Pool Share from
The parties agree to remove Schedule C, in its entirety and replace it with the
attached Schedule C, effective March 1, 2004.
Except as herein amended, all other terms and conditions of this Agreement shall
remain unchanged.
Single Life 12/01/2002 -- Amendment 4
Between HLIC and RGA
1
In witness of the foregoing, Ceding Company and Reinsurer have, by their
respective officers, hereby executed this Amendment in duplicate on the dates
indicated below, with an effective date of March 1, 2004.
RGA REINSURANCE COMPANY
By: /s/ X. Xxxxxxxx Attest: /s/ Xxxxx Xxxxxxx
------------------------------ ------------------------------
Name: X. Xxxxxxxx Name: Xxxxx Xxxxxxx
Title: Sales Vice President Title: Vice President & Actuary
Date: 10-25-05 Date: 10/25/2005
HARTFORD LIFE INSURANCE COMPANY
By: /s/ Xxxxxx X. Xxxxxxxx Attest: /s/ Xxxx Xxxxxx
------------------------------ ------------------------------
Name: Xxxxxx X. Xxxxxxxx Name: Xxxx Xxxxxx
Title: Assistant Vice President, Title: Vice President,
Individual Life Product Individual Life Product
Development Development
Date: 11/11/2005 Date: 11/11/2005
Single Life 12/01/2002 -- Amendment 4
Between HLIC and RGA
2
SCHEDULE C
FOREIGN NATIONAL PROGRAM
EFFECTIVE MARCH 1, 2004
The Reinsurer and the Ceding Company agree that the Ceding Company's Foreign
National business will be reinsured under the terms of this Agreement except for
the following differences:
TYPE OF REINSURANCE
Individual life policies under this program will be on a first dollar quota
share basis
FOREIGN NATIONAL REINSURANCE POOL SHARE [Redacted]
CEDING COMPANY'S RETENTION [Redacted]
FOREIGN NATIONAL AUTOMATIC POOL BINDING LIMIT (EXCLUDES RETENTION) [Redacted]
For issue ages through 75 and Table D: [Redacted]
JUMBO LIMIT: [Redacted]
UNDERWRITING GUIDELINES [Redacted]
Single Life 12/01/2002 -- Amendment 4
Between HLIC and RGA
3
SCHEDULE C
FOREIGN NATIONAL PROGRAM
EFFECTIVE MARCH 1, 2004
[Redacted]
Single Life 12/01/2002 -- Amendment 4
Between HLIC and RGA
4
AMENDMENT 5
EFFECTIVE MARCH 1, 2004
TO THE
REINSURANCE AGREEMENT
EFFECTIVE DECEMBER 1, 2002 (AUTO)
EFFECTIVE NOVEMBER 1, 2002 (FAC)
BETWEEN
HARTFORD LIFE INSURANCE COMPANY
("CEDING COMPANY")
AND
RGA REINSURANCE COMPANY
("REINSURER")
RECITALS
WHEREAS, the Reinsurer currently reinsures the Ceding Company's plans or
policies under the Agreement; and
WHEREAS, the Ceding Company and the Reinsurer wish to amend or modify Exhibit II
under the Agreement.
NOW, THEREFORE for good and valuable considerations, receipt of which is hereby
acknowledged, the Ceding Company and the Reinsurer hereby agree as follows:
AMENDMENT
The parties hereby agree to amend or modify the Agreement, by amending Exhibit
II to reflect the change in the Automatic Binding Limit from [Redacted] and the
change in the Automatic Issue Limit from [Redacted] for policies issued on or
after the effective date.
The parties agree to remove Exhibit II, in its entirety and replace it with the
attached Exhibit II, effective March 1, 2004.
Except as herein amended, all other terms and conditions of this Agreement shall
remain unchanged.
Single Life 12/01/2002 -- Amendment 5
Between HLIC and RGA
1
In witness of the foregoing, the Ceding Company and the Reinsurer have, by their
respective officers, hereby executed this Amendment in duplicate on the dates
indicated below, with an effective date of March 1, 2004.
RGA REINSURANCE COMPANY
By: /s/ [ILLEGIBLE] Attest: /s/ Xxxxx Xxxxxxx
------------------------------ ------------------------------
Name: [ILLEGIBLE] Name: Xxxxx Xxxxxxx
Title: Sales Vice President Title: Vice President & Actuary
Date: 10.25.05 Date: 10/25/2005
HARTFORD LIFE INSURANCE COMPANY
By: /s/ Xxxxxx X. Xxxxxxxx Attest: /s/ Xxxx Xxxxxx
------------------------------ ------------------------------
Name: Xxxxxx X. Xxxxxxxx Name: Xxxx Xxxxxx
Title: Assistant Vice President, Title: Vice President, Individual
Individual Life Product Life Product Development
Development
Date: 11/11/2005 Date: 11/11/2005
Single Life 12/01/2002 -- Amendment 5
Between HLIC and RGA
2
EXHIBIT II
SINGLE LIFE RETENTION, BINDING, AND TOTAL POOL ISSUE LIMITS
(APPLICABLE TO TOTAL POOL FOR SINGLE LIFE POOL BUSINESS -- NOT LS, CUSTOM TERM,
& STAG UL+)
EFFECTIVE MARCH 1, 2004
RETENTION LIMIT
[Redacted]
AUTOMATIC BINDING LIMIT (EXCLUDES RETENTION)
[Redacted]
AUTOMATIC ISSUE LIMIT (INCLUDES RETENTION)
[Redacted]
AUTOMATIC PROCESSING LIMIT (INCLUDES RETENTION)
[Redacted]
FACULTATIVE OBLIGATORY AUTOMATIC BINDING LIMIT (EXCLUDES RETENTION)
[Redacted]
FACULTATIVE OBLIGATORY AUTOMATIC ISSUE LIMIT (INCLUDES RETENTION)
[Redacted]
JUMBO LIMIT
[Redacted]
Single Life 12/01/2002 -- Amendment 5
Between HLIC and RGA
3
(000) 0000-00-00
AMENDMENT 6
EFFECTIVE JULY 01, 2005
TO THE
AUTOMATIC AND FACULTATIVE YEARLY RENEWABLE TERM REINSURANCE AGREEMENT
EFFECTIVE NOVEMBER 1, 2002 FOR FACULTATIVE BUSINESS
EFFECTIVE DECEMBER 1, 2002 FOR AUTOMATIC BUSINESS
BETWEEN
HARTFORD LIFE INSURANCE COMPANY
("CEDING COMPANY")
AND
RGA REINSURANCE COMPANY
("REINSURER")
RECITALS
WHEREAS, the Reinsurer currently reinsures the Ceding Company's plans or
policies under the Agreement; and
WHEREAS, the Ceding Company and the Reinsurer wish to amend or modify Schedule
A, Exhibit I and Exhibit III under the Agreement.
NOW, THEREFORE for good and valuable considerations, receipt of which is hereby
acknowledged, the Ceding Company and the Reinsurer hereby agree as follows:
AMENDMENT
The parties hereby agree to amend or modify the Agreement, by amending Schedule
A to reflect the addition of Stag Universal Life Cash Value as an upscale
product to be reinsured under the terms of this Reinsurance Agreement, for
policies issued on or after the effective date.
The parties hereby agree to amend or modify the Agreement, by amending Exhibit I
and Exhibit III to reflect the addition of the Preferred Plus risk class to Stag
Protector Variable Universal Life and Stag Variable Life Accumulator, for
policies issued on or after the effective date.
The parties agree to remove Schedule A, Exhibit I and Exhibit III, in their
entirety and replace them with the attached Schedule A, Exhibit I and Exhibit
III, effective July 1, 2005.
Except as herein amended, all other terms and conditions of this Agreement shall
remain unchanged.
Single Life Excess Pool -- Amendment 6
Between HLIC and RGA
Effective 11/01/2002 Facultative 12/01/2002 Automatic
1
In witness of the foregoing, the Ceding Company and the Reinsurer have, by their
respective officers, hereby executed this Amendment in duplicate on the dates
indicated below, with an effective date of July 1, 2005.
RGA REINSURANCE COMPANY
By: /s/ Xxxxx X Xxxxxx Attest: /s/ X. Xxxxxxx
------------------------------ ------------------------------
Name: Xxxxx X Xxxxxx Name: X. Xxxxxxx
Title: Sales Vice President Title: Sales Vice President
Date: 10/26/05 Date: 10/26/05
HARTFORD LIFE INSURANCE COMPANY
By: /s/ Xxxxxx X. Xxxxxxxx Attest: /s/ Xxxx Xxxxxx
------------------------------ ------------------------------
Name: Xxxxxx X. Xxxxxxxx Name: Xxxx Xxxxxx
Title: Assistant Vice President, Title: Vice President, Individual
Individual Life Product Life Product Development
Development
Date: 11/11/2005 Date: 11/11/2005
Single Life Excess Pool -- Amendment 6
Between HLIC and RGA
Effective 11/01/2002 Facultative 12/01/2002 Automatic
2
SCHEDULE A
PLANS COVERED UNDER THIS AGREEMENT
EFFECTIVE JULY 01, 2005
TYPE OF BUSINESS Individual life insurance issued by the Ceding
Company
UPSCALE PRODUCTS RIDERS
------------------------------------------------------------------------------------------------------
Stag Protector Variable Universal Life Other Covered Insured
Stag Variable Life Accumulator Term Rider (base or other insured)
Stag Universal Life ADB Benefit (not reinsured)
SPVL (Fully underwritten only) Deduction Amount Waiver Rider
ART (CW), 5 & 10 Year Term (NY) Waiver of Monthly Deduction
One Year Term Waiver of Specified Amount
Stag Whole Life Enhanced No Lapse Guarantee Rider
Stag Protector Variable Universal Life II Estate Tax Repeal Benefit Rider
Stag Variable Life Accumulator II Level Compensation Endorsement
Stag Universal Life Cash Value Children's Life Insurance Rider
Maturity Date Extension
Guaranteed COI Benefit Rider
Mortality and Expense Risk Rates Rider
Foreign Travel Exclusion Rider
Policy Continuation Rider
MIDDLE AMERICA PRODUCTS RIDERS
------------------------------------------------------------------------------------------------------
LBSI UL Term Rider (base or other insured)
Life Solutions I UL Waiver of Premium Riders
Life Solutions II UL Waiver of Monthly Deduction Riders
20 Year Term Additional Purchase Option Rider
Disability Income Rider
WOODBURY PRODUCTS
------------------------------------------------------------------------------------------------------
Hartford Stag Wall Street Variable Universal Life Term Rider
ADB (not reinsured)
Waiver of Monthly Deduction
Waiver of Specified Amount
Cost of Living Adjustment Rider
Child Rider
Accelerated Benefit Rider
Specify Monthly Deductions
Enhanced No Lapse Guarantee
Single Life Excess Pool -- Amendment 6
Between HLIC and RGA
Effective 11/01/2002 Facultative 12/01/2002 Automatic
3
SCHEDULE A
PLANS COVERED UNDER THIS AGREEMENT
EFFECTIVE JULY 01, 2005
DESCRIPTIONS
RIDERS WHERE ADDITIONAL PREMIUM IS DUE TO THE REINSURER:
Other Covered Insured: Provides term coverage for insured other than base
insured.
Term Rider (base or other insured): Provides additional term coverage
Deduction Amount Waiver Rider: Waives monthly deduction amount if insured is
disabled
Waiver of Monthly Deduction: Waives monthly deduction amount if insured is
disabled
Waiver of Specified Amount: Waives specified amount if insured is disabled
Waiver of Premium Riders: Waives premium requirement if insured is disabled
Additional Purchase Option Rider: Provides additional term coverage
Cost of Living Adjustment Rider: This rider is available at issue only for
nonsubstandard issue ages 0 to 60. The rider allows for face amount increases
without underwriting biannually based on the Consumer Price Index with the
maximum amount of this increase being $50,000.
RIDERS THAT ALTER THE POLICY AND IN WHICH NO ADDITIONAL PREMIUM IS PAID TO THE
REINSURER. IF A POLICY HAS THIS RIDER IT IS STILL COVERED UNDER THE AGREEMENT:
Children's Life Insurance Rider: Provides additional term coverage for a child.
No separate reinsurance benefits are associated with this rider.
Enhanced No Lapse Guarantee Rider: This rider guarantees that the policy will
not lapse, regardless of investment performance, provided cumulative premiums
paid less indebtedness less withdrawals are greater than or equal to the
cumulative no lapse guarantee premiums. There is a lifetime option and a limited
term option. The limited term option is the lesser of 20 years or to attained
age 80 for issue ages 0 to 70 and the minimum of 10 years or to attained age 90
for issue ages 71 to 85. Also, at the time when the no lapse guarantee
terminates or defaults, the policyholder may be eligible for an additional
amount of time they have this protection, which is based on the then current
account value.
Estate Tax Repeal Benefit Rider: This rider will pay the account value less
indebtedness if the Federal Estate Tax Law is fully repealed by December 31,
2010 and we receive a request for this benefit amount from the insured.
Level Compensation Endorsement: Surrender charges are not assessed for a full
surrender during the first three policy years. There is no charge for this
rider.
Single Life Excess Pool -- Amendment 6
Between HLIC and RGA
Effective 11/01/2002 Facultative 12/01/2002 Automatic
4
SCHEDULE A
PLANS COVERED UNDER THIS AGREEMENT
EFFECTIVE JULY 01, 2005
Maturity Date Extension Rider: When the policyholder reaches the maturity date
and has elected this rider, the death benefit is dropped to the account value,
no more monthly deductions are taken, interest is credited, no further premiums
are accepted, policy loans continue to accrue interest, and all other riders are
terminated.
Guaranteed COI Benefit Rider: This rider provides guaranteed cost of insurance
rates for the first 10 policy years. On each policy anniversary, we declare a
cost of insurance rate for a single policy year. This policy year is the policy
year 9 years from the then current policy anniversary. Thus the rider provides
that on any policy anniversary, cost of insurance rates over the next 10 years
will not exceed those provided by the rider. This rider is currently available
in only a few states and on variable life policy forms where the face amount is
at least thirty million dollars.
Accelerated Benefit Rider: With this rider, the policyholder can receive up to
100% of their death benefit discounted with interest if the life expectancy is
12 months or less.
Specify Monthly Deductions: This rider allows the policyholder to specify to
take monthly deductions out of a particular account in the policy.
Mortality and Expense Risk Rider: This rider guarantees that the mortality and
expense risk rate will be zero for years greater than and equal to 21.
Policy Continuation Rider: This rider is automatically added to the policy at
issue. This rider is intended to prevent the lapse of highly loaned policies.
Foreign Travel Exclusion Rider: The rider is written such that if the insured
dies while traveling to, from, or in a country NOT listed on the List of
Countries and Jurisdictions (Foreign Travel Exclusion Rider Exhibit II), or dies
as a direct or indirect result of an illness or injury sustained during such
travel, the death benefit proceeds will be limited to the policy's account
value, less any outstanding indebtedness.
Single Life Excess Pool -- Amendment 6
Between HLIC and RGA
Effective 11/01/2002 Facultative 12/01/2002 Automatic
5
EXHIBIT I
REINSURANCE PREMIUM CALCULATION
EFFECTIVE JULY 01, 2005
1. REINSURANCE PREMIUM
ANNUAL YRT REINSURANCE PREMIUM
[Redacted]
2. PREMIUM TAX
Premium tax will not be reimbursed.
3. FLAT EXTRA ALLOWANCES
The flat extra premium paid to the Reinsurer will be the annual flat extra rate
which the Ceding Company charges the insured less the allowances below times the
Reinsured Net Amount at Risk.
DURATION OF FLAT EXTRA FIRST YEAR RENEWAL YEARS
----------------------------------------------------------------------------------------------
Less than 5 years [Redacted] [Redacted]
5 years or more
4. RIDERS
Term riders, cost of living riders, and other riders providing additional or
increasing coverage will use the same methods and YRT rates as the base plan.
Waiver of premium rates are attached and are per dollar of annualized amount.
Deduction amount waiver rates (also called "waiver of monthly deductions") are
attached, and the charge for this benefit is a rate times the monthly deduction
amount. Our retention on both types of waivers is proportional to our retention
on the death benefit. . For both the Waiver of Premium and Waiver of Monthly
Deduction, the reinsurance premium will be net of the following allowances:
First Year Renewal Years
[Redacted] [Redacted]
Single Life Excess Pool -- Amendment 6
Between HLIC and RGA
Effective 11/01/2002 Facultative 12/01/2002 Automatic
6
EXHIBIT III
EFFECTIVE JULY 01, 2005
Annual per 1000 Yearly Renewable Term reinsurance rates are attached.
These rates are used for Automatic, Facultative Obligatory, and Facultative
policies.
PRODUCTS USING MULTI-CLASS RATE TABLES: [Redacted]
Stag Protector Variable Universal Life
Stag Accumulator Variable Universal Life
Stag Universal Life
Stag Whole Life
Hartford Stag Wall Street Variable Universal Life
Stag Universal Life Plus
Stag Universal Life Cash Value
PRODUCTS USING UNI-CLASS RATE TABLES: [Redacted]
LBSI UL
Life Solutions I UL
Life Solutions II UL
20 Year Term
ART (CW)
5 & 10 Year Term (NY)
SPVL
One Year Term
Single Life Excess Pool -- Amendment 6
Between HLIC and RGA
Effective 11/01/2002 Facultative 12/01/2002 Automatic
7
SINGLE LIFE 2002 MULTICLASS ANNUAL YRT PER 1000 REINSURANCE RATES
[Redacted]
AMENDMENT 7
EFFECTIVE JANUARY 18, 2005
TO THE
AUTOMATIC AND FACULTATIVE YEARLY RENEWABLE TERM REINSURANCE AGREEMENT
EFFECTIVE NOVEMBER 1, 2002 FOR FACULTATIVE BUSINESS
EFFECTIVE DECEMBER 1, 2002 FOR AUTOMATIC BUSINESS
BETWEEN
HARTFORD LIFE INSURANCE COMPANY
("CEDING COMPANY")
AND
RGA REINSURANCE COMPANY
("REINSURER")
RECITALS
WHEREAS, the Reinsurer currently reinsures the Ceding Company's plans or
policies under the Agreement; and
WHEREAS, the Ceding Company and the Reinsurer wish to amend or modify Schedule C
under the Agreement.
NOW, THEREFORE for good and valuable considerations, receipt of which is hereby
acknowledged, the Ceding Company and the Reinsurer hereby agree as follows:
AMENDMENT
The parties hereby agree to amend or modify the Agreement, by amending Schedule
C to reflect the change in the Ceding Company's retention in the Foreign
National Reinsurance Pool [Redacted], for policies applied for on or after the
effective date.
The parties agree to remove Schedule C, in its entirety and replace it with the
attached Schedule C, effective January 18, 2005.
Except as herein amended, all other terms and conditions of this Agreement shall
remain unchanged.
Single Life Excess Pool -- Amendment 7
Between HLIC and RGA
Effective 11/01/2002 Fac 12/01/2002 Auto
1
In witness of the foregoing, the Ceding Company and the Reinsurer have, by their
respective officers, hereby executed this Amendment in duplicate on the dates
indicated below, with an effective date of January 18, 2005.
RGA REINSURANCE COMPANY
By: /s/ Xxxxx X. Xxxxxx Attest: /s/ X. Xxxxxxx
-------------------------------- --------------------------------
Name: Xxxxx X. Xxxxxx Name: X. Xxxxxxx
Title: Sales Vice President Title: Sales Vice President
Date: 1/27/06 Date: 1-30-06
HARTFORD LIFE INSURANCE COMPANY
By: /s/ Xxxxxx X. Xxxxxxxx Attest: /s/ Xxxx Xxxxxx
-------------------------------- --------------------------------
Name: Xxxxxx X. Xxxxxxxx Name: Xxxx Xxxxxx
Title: Assistant Vice President, Title: Vice President,
Individual Life Product Individual Life Product
Development Development
Date: 11/11/2005 Date: 11/11/2005
Single Life Excess Pool -- Amendment 7
Between HLIC and RGA
Effective 11/01/2002 Fac 12/01/2002 Auto
2
SCHEDULE C
FOREIGN NATIONAL PROGRAM
EFFECTIVE JANUARY 18, 2005
The Reinsurer and the Ceding Company agree that the Ceding Company's Foreign
National business will be reinsured under the terms of this Agreement except for
the following differences:
TYPE OF REINSURANCE
Individual life policies under this program will be on a first dollar quota
share basis
FOREIGN NATIONAL REINSURANCE POOL SHARE [Redacted]
CEDING COMPANY'S RETENTION [Redacted]
FOREIGN NATIONAL AUTOMATIC POOL BINDING LIMIT (EXCLUDES RETENTION)
For issue ages through 75 and Table D: [Redacted]
JUMBO LIMIT: [Redacted]
UNDERWRITING GUIDELINES [Redacted]
Single Life Excess Pool -- Amendment 7
Between HLIC and RGA
Effective 11/01/2002 Fac 12/01/2002 Auto
3
SCHEDULE C
FOREIGN NATIONAL PROGRAM
EFFECTIVE JANUARY 18, 2005
[Redacted]
Single Life Excess Pool -- Amendment 7
Between HLIC and RGA
Effective 11/01/2002 Fac 12/01/2002 Auto
4
AMENDMENT 8
EFFECTIVE DECEMBER 1, 2005
TO THE
REINSURANCE AGREEMENT
EFFECTIVE DECEMBER 1, 2002 (AUTO)
EFFECTIVE NOVEMBER 1, 2002 (FAC)
BETWEEN
HARTFORD LIFE INSURANCE COMPANY
("CEDING COMPANY")
AND
RGA REINSURANCE COMPANY
("REINSURER")
RECITALS
WHEREAS, the Reinsurer currently reinsures the Ceding Company's plans or
policies under the Agreement; and
WHEREAS, the Ceding Company and the Reinsurer wish to amend or modify Schedule
C, Exhibit II under the Agreement.
NOW, THEREFORE for good and valuable considerations, receipt of which is hereby
acknowledged, the Ceding Company and the Reinsurer hereby agree as follows:
AMENDMENT
The parties hereby agree to amend or modify the Agreement, by amending Schedule
C to reflect the change in the Ceding Company's maximum Foreign National Pool
Retention Limit from [Redacted] for policies issued on or after the effective
date of this amendment.
The parties hereby agree to amend or modify the Agreement, by amending Exhibit
II to reflect the change in the maximum Retention Limit from [Redacted] and the
change in the maximum Automatic Issue Limit from [Redacted], for policies issued
on or after the effective date of this amendment.
The parties agree to remove Schedule C and Exhibit II, in their entirety and
replace them with the attached Schedule C and Exhibit II, effective December 1,
2005.
Except as herein amended, all other terms and conditions of this Agreement shall
remain unchanged.
Single Life 12/01/2002 -- Amendment 8
Between HLIC and RGA
1
In witness of the foregoing, the Ceding Company and the Reinsurer have, by their
respective officers, hereby executed this Amendment in duplicate on the dates
indicated below, with an effective date of December 1, 2005.
RGA REINSURANCE COMPANY
By: /s/ Xxxxx X. Xxxxxx Attest: /s/ X. Xxxxxxx
------------------------------ ------------------------------
Name: Xxxxx X. Xxxxxx Name: X. Xxxxxxx
Title: Sales Vice President Title: Sales Vice President
Date: 1/31/06 Date: 1-31-06
HARTFORD LIFE INSURANCE COMPANY
By: /s/ Xxxxxx X. Xxxxxxxx Attest: /s/ Xxxxxxxx X. Xxxxxx
------------------------------ ------------------------------
Name: Xxxxxx X. Xxxxxxxx Name: Xxxxxxxx X. Xxxxxx
Title: Assistant Vice President, Title: Assistant Vice President,
Individual Life Product Individual Life Product
Development Development
Date: 10/28/2005 Date: 10/28/05
Single Life 12/01/2002 -- Amendment 8
Between HLIC and RGA
2
SCHEDULE C
FOREIGN NATIONAL PROGRAM
EFFECTIVE DECEMBER 1, 2005
The Reinsurer and the Ceding Company agree that the Ceding Company's Foreign
National business will be reinsured under the terms of this Agreement except for
the following differences:
TYPE OF REINSURANCE
Individual life policies under this program will be on a first dollar quota
share basis
FOREIGN NATIONAL REINSURANCE POOL SHARE [Redacted]
CEDING COMPANY'S RETENTION [Redacted]
FOREIGN NATIONAL AUTOMATIC POOL BINDING LIMIT (EXCLUDES RETENTION)
For issue ages through 75 and Table D: [Redacted]
JUMBO LIMIT: [Redacted]
UNDERWRITING GUIDELINES [Redacted]
Single Life 12/01/2002 -- Amendment 8
Between HLIC and RGA
3
SCHEDULE C
FOREIGN NATIONAL PROGRAM
EFFECTIVE DECEMBER 1, 2005
[Redacted]
Single Life 12/01/2002 -- Amendment 8
Between HLIC and RGA
4
EXHIBIT II
SINGLE LIFE RETENTION, BINDING, AND TOTAL POOL ISSUE LIMITS
(APPLICABLE TO TOTAL POOL FOR SINGLE LIFE POOL BUSINESS-- NOT LS, CUSTOM TERM, &
STAG UL+)
EFFECTIVE DECEMBER 1, 2005
RETENTION LIMIT
[Redacted]
AUTOMATIC BINDING LIMIT (EXCLUDES RETENTION)
[Redacted]
AUTOMATIC ISSUE LIMIT (INCLUDES RETENTION)
[Redacted]
AUTOMATIC PROCESSING LIMIT (INCLUDES RETENTION)
[Redacted]
FACULTATIVE OBLIGATORY AUTOMATIC BINDING LIMIT (EXCLUDES RETENTION)
[Redacted]
FACULTATIVE OBLIGATORY AUTOMATIC ISSUE LIMIT (INCLUDES RETENTION)
[Redacted]
JUMBO LIMIT
[Redacted]
Single Life 12/01/2002 -- Amendment 8
Between HLIC and RGA
5
AMENDMENT 9
EFFECTIVE NOVEMBER 1, 2005
TO THE
REINSURANCE AGREEMENT
EFFECTIVE DECEMBER 1, 2002 (AUTO)
EFFECTIVE NOVEMBER 1, 2002 (FAC)
BETWEEN
HARTFORD LIFE INSURANCE COMPANY
("CEDING COMPANY")
AND
RGA REINSURANCE COMPANY
("REINSURER")
RECITALS
WHEREAS, Xxxxxxxxx currently reinsures Ceding Company's plans or policies under
the Agreement; and
WHEREAS, Ceding Company and Reinsurer wish to amend or modify, Foreign Travel
Exclusion Rider Exhibit II under the Agreement.
NOW, THEREFORE for good and valuable considerations, receipt of which is hereby
acknowledged, Ceding Company and Reinsurer hereby agree as follows:
AMENDMENT
The parties hereby agree to amend or modify the Agreement, by amending Foreign
Travel Exclusion Rider Exhibit II to reflect a revised List of Countries and
Jurisdictions for the Foreign Travel Exclusion Rider, for policies issued on or
after the effective date of this amendment.
The parties agree to remove Foreign Travel Exclusion Rider Exhibit II, in its
entirety and replace it with the attached Foreign Travel Exclusion Rider Exhibit
II, effective November 1, 2005.
Except as herein amended, all other terms and conditions of this Agreement shall
remain unchanged.
Single Life 12/01/2002 -- Amendment 9
Between HLIC and RGA
1
In witness of the foregoing, Ceding Company and Reinsurer have, by their
respective officers, hereby executed this Amendment in duplicate on the dates
indicated below, with an effective date of November 1, 2005.
RGA REINSURANCE COMPANY
By: /s/ Xxxxx X. Xxxxxx Attest: /s/ X. Xxxxxxx
------------------------------ ------------------------------
Name: Xxxxx X. Xxxxxx Name: X. Xxxxxxx
Title: Sales Vice President Title: Sales Vice President
Date: 1/31/06 Date: 1-31-06
HARTFORD LIFE INSURANCE COMPANY
By: /s/ Xxxxxx X. Xxxxxxxx Attest: /s/ Xxxxxxxx X. Xxxxxx
------------------------------ ------------------------------
Name: Xxxxxx X. Xxxxxxxx Name: Xxxxxxxx X. Xxxxxx
Title: Assistant Vice President, IL Title: Assistant Vice President, IL
Product Development Product Development
Date: 10/28/2005 Date: 10/28/05
Single Life 12/01/2002 -- Amendment 9
Between HLIC and RGA
2
FOREIGN TRAVEL EXCLUSION RIDER EXHIBIT II
LIST OF COUNTRIES AND JURISDICTIONS
EFFECTIVE NOVEMBER 1, 2005
[Redacted]
Single Life 12/01/2002 -- Amendment 9
Between HLIC and RGA
3
AMENDMENT 10
EFFECTIVE DECEMBER 1, 2002 (AUTO)
EFFECTIVE NOVEMBER 1, 2002 (FAC)
TO THE
REINSURANCE AGREEMENT
EFFECTIVE DECEMBER 1, 2002 (AUTO)
EFFECTIVE NOVEMBER 1, 2002 (FAC)
BETWEEN
HARTFORD LIFE INSURANCE COMPANY
("CEDING COMPANY")
AND
RGA REINSURANCE COMPANY
("REINSURER")
RECITALS
WHEREAS, the Reinsurer currently reinsures the Ceding Company's plans or
policies under the Agreement; and
WHEREAS, the Ceding Company and the Reinsurer wish to amend or modify Article
XIII, Article XIV and Article XXIII under the Agreement.
NOW, THEREFORE for good and valuable considerations, receipt of which is hereby
acknowledged, the Ceding Company and the Reinsurer hereby agree as follows:
AMENDMENT
The parties hereby agree to amend or modify the Agreement, by amending Article
XIII to reflect the change in the Claims language, for policies issued on or
after the effective date of this amendment.
The parties agree to remove Article XIII, in its entirety and replace it with
the following, effective November 1, 2002.
ARTICLE XIII
CLAIMS
A. LIABILITY
IF THE CEDING COMPANY IS LIABLE FOR INSURANCE BENEFITS ON A POLICY ELIGIBLE FOR
REINSURANCE UNDER THIS AGREEMENT, THE REINSURER SHALL BE LIABLE FOR ITS
Single Life Excess Pool -- Amendment 10
Between HLIC and RGA
Effective 11/01/2002 Fac / 12/01/2002 Auto
1
PORTION OF THE REINSURANCE ON THAT POLICY, AS DESCRIBED IN SCHEDULE B. THE
CEDING COMPANY SHALL OPERATE IN GOOD FAITH AND ADJUDICATE CLAIMS TO POLICIES
REINSURED UNDER THIS AGREEMENT AS IF THERE WERE NO REINSURANCE. ALL CLAIM
SETTLEMENTS ON POLICIES REINSURED HEREUNDER WILL BE SUBJECT TO THE TERMS AND
CONDITIONS OF THE PARTICULAR POLICY, STATUTORY REQUIREMENTS OR GOOD FAITH
SETTLEMENT PRACTICES MADE BY THE CEDING COMPANY.
THIS PARAGRAPH SHALL WORK IN CONJUNCTION WITH PARAGRAPH D BELOW.
B. NOTIFICATION
WHEN THE CEDING COMPANY IS ADVISED OF A CLAIM, THE REINSURER MUST BE NOTIFIED
PROMPTLY.
C. CLAIM PAYMENT
1. PROOFS
IF A CLAIM IS MADE UNDER A POLICY ELIGIBLE FOR REINSURANCE UNDER THIS
AGREEMENT, THE REINSURER WILL ABIDE BY THE SETTLEMENT MADE BY THE
CEDING COMPANY. THE CEDING COMPANY WILL PROVIDE THE REINSURER WITH
COPIES OF PROOF OF DEATH, PROOF OF PAYMENT AND THE CLAIMANT'S
STATEMENT. COPIES OF CLAIM FILES AND/OR OTHER WRITTEN MATTERS RELATING
TO A CLAIM REIMBURSEMENT UNDER THIS AGREEMENT SHALL BE FURNISHED TO
THE REINSURER UPON WRITTEN REQUEST.
2. PAYMENT OF REINSURANCE PROCEEDS
THE REINSURER WILL PAY THE CEDING COMPANY REINSURANCE PROCEEDS ON
CLAIMS MADE UNDER POLICIES ELIGIBLE FOR REINSURANCE UNDER THIS
AGREEMENT WITHIN THIRTY (30) DAYS OF RECEIPT OF PROOFS AS PROVIDED FOR
IN SECTION C.1, ABOVE.
THE REINSURER SHALL ALSO REIMBURSE THE CEDING COMPANY FOR ITS
PROPORTIONATE SHARE OF COVERED CLAIM EXPENSES AND ANY INTEREST PAID ON
CLAIMS. PARTICIPATION IN ACCRUED INTEREST BY THE REINSURER SHALL BE IN
ACCORDANCE WITH THE APPLICABLE STATE STATUTORY REGULATIONS.
PAYMENT OF LIFE REINSURANCE PROCEEDS WILL BE MADE IN A SINGLE SUM
REGARDLESS OF THE CEDING COMPANY'S MODE OF SETTLEMENT WITH THE PAYEE.
3. BALANCES IN DEFAULT
IF THE REINSURER IS DELINQUENT, THIRTY (30) DAYS PAST DUE, ON AN
UNDISPUTED NET AMOUNT DUE TO THE CEDING COMPANY, THE CEDING COMPANY
WILL HAVE THE RIGHT TO OFFSET SUCH AMOUNT FROM ANY AMOUNT DUE THE
REINSURER IN ACCORDANCE WITH ARTICLE XVIII. TO THE EXTENT THERE IS AN
INSUFFICIENT BALANCE FROM WHICH TO OFFSET SUCH AMOUNTS, THE CEDING
COMPANY HAS THE RIGHT TO RECAPTURE, PROVIDED THE CEDING COMPANY HAS
GIVEN THE REINSURER NINETY (90) DAYS WRITTEN NOTICE OF ITS INTENT TO
RECAPTURE AND THE REINSURER HAS FAILED TO PAY THE NET AMOUNT DUE BY
THE END OF THE NINETY (90) DAY
Single Life Excess Pool -- Amendment 10
Between HLIC and RGA
Effective 11/01/2002 Fac / 12/01/2002 Auto
2
NOTICE PERIOD.
D. CONTESTED CLAIMS
1. THE CEDING COMPANY MUST PROMPTLY NOTIFY THE REINSURER OF ITS INTENT
TO CONTEST A CLAIM REINSURED UNDER THIS AGREEMENT OR TO ASSERT
DEFENSES. THE REINSURER SHALL RESPOND TO THE CEDING COMPANY, IN
WRITING, WITHIN TEN (10) BUSINESS DAYS OF RECEIPT OF SUCH NOTICE,
WHETHER IT WILL BE A PARTY TO THE CONTEST OR ASSERTION OF DEFENSES.
IF THE REINSURER DOES NOT RESPOND TO THE CEDING COMPANY, IN WRITING,
WITHIN TEN (10) BUSINESS DAYS OF RECEIPT OF SUCH NOTICE, THE
REINSURER WILL BE DEEMED TO HAVE ELECTED TO BE A PARTY TO THE
CONTEST OR ASSERTION OF DEFENSES.
2. IF THE REINSURER SHOULD DECLINE TO PARTICIPATE IN THE CONTEST OR
ASSERTION OF DEFENSES, THEN:
a) THE REINSURER WILL RELEASE ALL OF ITS LIABILITY BY PAYING THE
CEDING COMPANY THE FULL AMOUNT OF REINSURANCE AND ITS PROPORTIONATE
SHARE OF COVERED EXPENSES INCURRED TO THE DATE ON WHICH THE
REINSURER NOTIFIED THE CEDING COMPANY THAT IT DECLINED TO BE A
PARTY TO THE CONTEST; AND
b) THE REINSURER SHALL NOT SHARE IN ANY SUBSEQUENT INCREASE OR
REDUCTION IN LIABILITY.
3. IF THE REINSURER SHOULD ELECT TO PARTICIPATE IN THE CONTEST OR
ASSERTION OF DEFENSES, THEN:
a) THE REINSURER WILL PAY ITS PROPORTIONATE SHARE OF ANY SETTLEMENT UP
TO THE MAXIMUM THAT WOULD HAVE BEEN PAYABLE HAD THERE BEEN NO
CONTROVERSY;
b) THE REINSURER WILL SHARE IN THE EXPENSE OF ANY CONTEST OR
COMPROMISE OF THE CLAIM IN THE SAME PROPORTION THAT THE REINSURED
NET AMOUNT AT RISK, AS DEFINED IN SCHEDULE B, BEARS TO THE TOTAL
NET AMOUNT AT RISK, AS DEFINED IN SCHEDULE B, ON THE CLAIM; AND
c) THE REINSURER WILL SHARE IN THE REDUCTION OF LIABILITY IN THE SAME
PROPORTION THAT THE REINSURED NET AMOUNT AT RISK, AS DEFINED IN
SCHEDULE B, BEARS TO THE TOTAL NET AMOUNT AT RISK, AS DEFINED IN
SCHEDULE B, ON THE CLAIM.
4. THE REINSURER WILL NOT RECOMMEND TO THE CEDING COMPANY TO CONTEST A
CLAIM.
E. MISSTATEMENT OF AGE OR SEX
IF THE AMOUNT OF INSURANCE PROVIDED BY THE POLICY OR POLICIES REINSURED UNDER
THIS AGREEMENT IS INCREASED OR REDUCED BECAUSE OF MISSTATEMENT
Single Life Excess Pool -- Amendment 10
Between HLIC and RGA
Effective 11/01/2002 Fac / 12/01/2002 Auto
3
OF AGE OR SEX ESTABLISHED AFTER THE DEATH OF THE INSURED, THE REINSURER WILL
SHARE WITH THE CEDING COMPANY IN THIS INCREASE OR REDUCTION.
F. CLAIMS EXPENSES
THE REINSURER WILL PARTICIPATE IN UNUSUAL EXPENSES, DEFINED AS ALL EXPENDITURES
MADE BY THE CEDING COMPANY IN DISPOSITION OF CLAIMS, INCLUDING ALLOCATED
INVESTIGATION, ADJUSTMENT AND LEGAL EXPENSES, COURT COSTS AND ACCRUED INTEREST.
COMPENSATION OF SALARIED OFFICERS AND EMPLOYEES OF THE CEDING COMPANY WILL NOT
BE CONSIDERED CLAIMS EXPENSES, NOR WILL ROUTINE AND USUAL CLAIM INVESTIGATION
EXPENSES BE REIMBURSABLE BY THE REINSURER.
CLAIMS EXPENSES DO NOT INCLUDE EXPENSES INCURRED BY THE CEDING COMPANY AS A
RESULT OF A DISPUTE OR CONTEST ARISING OUT OF CONFLICTING CLAIMS OF ENTITLEMENT
TO POLICY PROCEEDS.
G. RETURN OF PREMIUM FOR MISREPRESENTATIONS AND SUICIDES
IF A MISREPRESENTATION ON AN APPLICATION OR A DEATH OF AN INSURED RISK BY
SUICIDE RESULTS IN THE CEDING COMPANY RETURNING THE POLICY PREMIUMS TO THE
POLICY OWNER RATHER THAN PAYING THE POLICY BENEFITS, THE REINSURER WILL REFUND
ALL OF THE REINSURANCE PREMIUMS IT RECEIVED ON THAT POLICY TO THE CEDING
COMPANY. THIS REFUND GIVEN BY THE REINSURER WILL BE IN LIEU OF ALL OTHER
REINSURANCE BENEFITS PAYABLE ON THAT POLICY UNDER THIS AGREEMENT.
The parties hereby agree to amend or modify the Agreement, by amending Article
XIV to reflect the change in the Extra-Contractual damages language, for
policies issued on or after the effective date of this amendment.
The parties agree to remove Article XIV, in its entirety and replace it with the
following, effective November 1, 2002.
ARTICLE XIV
EXTRA-CONTRACTUAL DAMAGES
IN NO EVENT WILL THE REINSURER HAVE ANY LIABILITY FOR ANY EXTRA-CONTRACTUAL
DAMAGES, WHICH ARE AWARDED AGAINST THE CEDING COMPANY AS A RESULT OF ACTS,
OMISSIONS, OR COURSE OF CONDUCT COMMITTED SOLELY BY THE CEDING COMPANY WITH NO
INVOLVEMENT OF THE REINSURER IN CONNECTION WITH THE INSURANCE REINSURED UNDER
THIS AGREEMENT.
THE REINSURER DOES RECOGNIZE THAT CIRCUMSTANCES MAY ARISE UNDER WHICH THE
REINSURER, IN EQUITY, SHOULD SHARE, TO THE EXTENT PERMITTED BY LAW, IN PAYING
CERTAIN ASSESSED DAMAGES. SUCH CIRCUMSTANCES ARE DIFFICULT TO DEFINE IN ADVANCE,
BUT BY EXAMPLE MAY INVOLVE THOSE SITUATIONS IN WHICH THE REINSURER WAS AN ACTIVE
PARTY IN THE ACT, OMISSION, OR COURSE OF CONDUCT THAT ULTIMATELY RESULTS IN THE
ASSESSMENT OF SUCH DAMAGES. THE EXTENT OF SUCH SHARING IS DEPENDENT ON GOOD
FAITH ASSESSMENT OF CULPABILITY IN EACH CASE, BUT ALL FACTORS BEING EQUAL, THE
DIVISION OF ANY SUCH ASSESSMENT WOULD BE IN THE PROPORTION OF TOTAL NET AMOUNT
AT RISK (AS DEFINED IN SCHEDULE B) ACCEPTED BY EACH PARTY FOR THE PLAN OF
INSURANCE INVOLVED.
Single Life Excess Pool -- Amendment 10
Between HLIC and RGA
Effective 11/01/2002 Fac / 12/01/2002 Auto
4
The parties hereby agree to amend or modify the Agreement, by amending Article
XXIII to reflect the change in the Notices and Communications language, for
policies issued on or after the effective date of this amendment.
The parties agree to remove Article XXIII, in its entirety and replace it with
the following, effective November 1, 2002.
ARTICLE XXIII
NOTICES AND COMMUNICATIONS
NOTICES AND OTHER COMMUNICATIONS REQUIRED OR PERMITTED TO BE GIVEN UNDER THIS
AGREEMENT SHALL BE DEEMED TO HAVE BEEN DULY GIVEN IF COMMUNICATED, AND
CONFIRMED, BETWEEN THE PARTIES BY FACSIMILE, ELECTRONIC MAIL AND/OR REGULAR MAIL
FOR THE FOLLOWING:
1) THE SUBMISSION (INCLUDING MEDICAL REPORTS AND EXCHANGE OF
INFORMATION) FOR FACULTATIVE REVIEW
2) ADMINISTRATION ISSUES, INCLUDING BUT NOT LIMITED TO, PAYMENT OF
PREMIUMS
3) ROUTINE ADMINISTRATION, AND ELECTRONIC REPORTING FORMAT POLICY
4) CLAIMS NOTICES, PROOFS, AND CLAIM CONTESTS
5) ACTUARIAL AND MATERIAL CHANGES REGARDING PRICING
6) DOCUMENT DRAFTING AND REVIEW
7) TAXES
8) AUDITING.
NOTICES AND OTHER COMMUNICATIONS RELATED TO ALL OTHER MATTERS REQUIRED TO BE
GIVEN UNDER THIS AGREEMENT SHALL BE EFFECTIVE IF IN WRITING AND (I) MAILED BY
UNITED STATES REGISTERED OR CERTIFIED MAIL, RETURN RECEIPT REQUESTED, OR (II)
DELIVERED BY NATIONALLY RECOGNIZED OVERNIGHT COURIER, OR (III) SENT BY FACSIMILE
TRANSMISSION FOLLOWED BY A CONFIRMATION MAILED BY FIRST CLASS OR OVERNIGHT MAIL
TO:
IF TO THE CEDING COMPANY: IF TO THE REINSURER:
INDIVIDUAL LIFE DIRECTOR OF REINSURANCE REINSURANCE OFFICER
HARTFORD LIFE RGA REINSURANCE COMPANY
000 XXXXXXXXX XXXXXX 0000 XXXXXXXXXX XXXXX XXXXXXX
XXXXXXXX, XX 00000 XXXXXXXXXXXX, XX 00000-6039
FACSIMILE:(000) 000-0000 FACSIMILE: (000) 000-0000
COPY (WHICH SHALL NOT CONSTITUTE NOTICE) COPY (WHICH SHALL NOT CONSTITUTE
TO: NOTICE) TO:
CHIEF ACTUARY
HARTFORD LIFE
000 XXXXXXXXX XXXXXX
XXXXXXXX, XX 00000
FACSIMILE: (000) 000-0000
GENERAL COUNSEL GENERAL COUNSEL
HARTFORD LIFE RGA REINSURANCE COMPANY
000 XXXXXXXXX XXXXXX 0000 XXXXXXXXXX XXXXX XXXXXXX
XXXXXXXX, XX 00000 XXXXXXXXXXXX, XX 00000-6039
FACSIMILE: (000) 000-0000 FACSIMILE:
Single Life Excess Pool -- Amendment 10
Between HLIC and RGA
Effective 11/01/2002 Fac / 12/01/2002 Auto
5
OR SUCH OTHER ADDRESS OR FAX NUMBER AS ANY PARTY MAY REQUEST BY NOTICE GIVEN
UNDER THIS SECTION. THE FOREGOING SHALL NOT PRECLUDE THE EFFECTIVENESS OF ACTUAL
WRITTEN NOTICE GIVEN TO A PARTY AT ANY ADDRESS OR BY ANY MEANS.
Except as herein amended, all other terms and conditions of this Agreement shall
remain unchanged.
In witness of the foregoing, the Ceding Company and the Reinsurer have, by their
respective officers, hereby executed this Amendment in duplicate on the dates
indicated below, with an effective date of November 1, 2002.
RGA REINSURANCE COMPANY
By: /s/ X. Xxxxxxx Attest: /s/ Xxxxx X. Xxxxxx
------------------------------ ------------------------------
Name: X. Xxxxxxx Name: Xxxxx X. Xxxxxx
Title: Sales Vice President Title: Sales Vice President
Date: 3.3.06 Date: 3/3/06
HARTFORD LIFE INSURANCE COMPANY
By: Xxxxxx X. Xxxxxxxx Attest: /s/ Xxxx Xxxxxx
------------------------------ ------------------------------
Name: Xxxxxx X. Xxxxxxxx Name: Xxxx Xxxxxx
Title: Assistant Vice President, Title: Vice President, Individual
Individual Life Product Life Product Development
Development
Date: 3/13/2006 Date: 3/13/2006
Single Life Excess Pool -- Amendment 10
Between HLIC and RGA
Effective 11/01/2002 Fac / 12/01/2002 Auto
6
AMENDMENT 11
EFFECTIVE OCTOBER 1, 2006
TO THE
AUTOMATIC AND FACULTATIVE YEARLY RENEWABLE TERM REINSURANCE AGREEMENT
EFFECTIVE NOVEMBER 1, 2002 (FACULTATIVE) DECEMBER 1, 2002 (AUTOMATIC)
REINSURER'S AGREEMENT NO. 8596-00-00
("AGREEMENT")
BETWEEN
HARTFORD LIFE INSURANCE COMPANY
("CEDING COMPANY")
AND
RGA REINSURANCE COMPANY
("REINSURER")
WHEREAS, the Reinsurer currently reinsures the Ceding Company's plans or
policies under the Agreement; and
WHEREAS, the Ceding Company and the Reinsurer wish to amend or modify the
Agreement to change the Reinsurer's share of the Automatic Binding Limit for
professional athletes for policies applied for on or after October 1, 2006.
NOW, THEREFORE for good and valuable consideration, receipt of which is hereby
acknowledged, the Ceding Company and the Reinsurer hereby agree to amend the
Agreement as follows:
I. Exhibit II is deleted in its entirety and replaced with the attached revised
Exhibit II.
Except as herein amended, all other terms and conditions of the Agreement shall
remain in full force and effect and unchanged.
Single Life Excess Treaty -- Effective 11/01/2002 (Fac) / 12/01/2002 (Auto)
Between HLIC and RGA
Amendment #11 - Effective 10/01/2006
1
In witness of the foregoing, the Ceding Company and the Reinsurer have, by their
respective officers, executed this Amendment in duplicate on the dates indicated
below, with an effective date of October 1, 2006.
RGA REINSURANCE COMPANY
By: /s/ Xxxxxx Xxxx Attest: /s/ Xxxxxxx X. Xxx
------------------------------ ------------------------------
Name: Xxxxxx Xxxx Name: Xxxxxxx X. Xxx
Title: Sales Vice President Title: Sales Vice President
Date: 8/23/07 Date: 8/23/07
HARTFORD LIFE INSURANCE COMPANY
By: /s/ Xxxxxx X. Xxxxxxxx Attest: /s/ Xxxx Xxxxxx
------------------------------ ------------------------------
Name: Xxxxxx X. Xxxxxxxx Name: Xxxx Xxxxxx
Title: Vice President, Individual Title: Senior Vice President,
Life Product Individual Life Product
Date: 10/22/2007 Date: 10/22/2007
Single Life Excess Treaty -- Effective 11/01/2002 (Fac) / 12/01/2002 (Auto)
Between HLIC and RGA
Amendment #11 - Effective 10/01/2006
2
EXHIBIT II
SINGLE LIFE RETENTION, BINDING, AND TOTAL POOL ISSUE LIMITS
(APPLICABLE TO TOTAL POOL FOR SINGLE LIFE POOL BUSINESS -- NOT LS, CUSTOM TERM,
& STAG UL+)
EFFECTIVE FOR POLICIES APPLIED FOR ON OR AFTER OCTOBER 1, 2006
RETENTION LIMIT
[Redacted]
AUTOMATIC BINDING LIMIT (EXCLUDES RETENTION)
[Redacted]
AUTOMATIC ISSUE LIMIT (INCLUDES RETENTION)
[Redacted]
AUTOMATIC PROCESSING LIMIT (INCLUDES RETENTION)
[Redacted]
FACULTATIVE OBLIGATORY AUTOMATIC BINDING LIMIT (EXCLUDES RETENTION)
[Redacted]
FACULTATIVE OBLIGATORY AUTOMATIC ISSUE LIMIT (INCLUDES RETENTION)
[Redacted]
JUMBO LIMIT
[Redacted]
Single Life Excess Treaty -- Effective 11/01/2002 (Fac) / 12/01/2002 (Auto)
Between HLIC and RGA
Amendment #11 - Effective 10/01/2006
3
EXHIBIT II
SINGLE LIFE RETENTION, BINDING, AND TOTAL POOL ISSUE LIMITS
(APPLICABLE TO TOTAL POOL FOR SINGLE LIFE POOL BUSINESS -- NOT LS, CUSTOM TERM,
& STAG UL+)
EFFECTIVE FOR POLICIES APPLIED FOR ON OR AFTER OCTOBER 1, 2006
[Redacted]
Single Life Excess Treaty -- Effective 11/01/2002 (Fac) / 12/01/2002 (Auto)
Between HLIC and RGA
Amendment #11 - Effective 10/01/2006
4
RGA Re No. (000) 0000-00-00
AMENDMENT 12
EFFECTIVE JUNE 1, 2007
TO THE
AUTOMATIC AND FACULTATIVE YEARLY RENEWABLE TERM REINSURANCE AGREEMENT
EFFECTIVE NOVEMBER 1, 2002 FOR FACULTATIVE BUSINESS
EFFECTIVE DECEMBER 1, 2002 FOR AUTOMATIC BUSINESS
BETWEEN
HARTFORD LIFE INSURANCE COMPANY ("CEDING COMPANY")
AND
RGA REINSURANCE COMPANY ("REINSURER")
("AGREEMENT")
WHEREAS, the Reinsurer currently reinsures the Ceding Company's plans or
policies under the Agreement; and
WHEREAS, the Ceding Company and the Reinsurer wish to amend the Agreement to
reflect the availability of an increased retention limit on cases that would
otherwise qualify for Automatic Reinsurance.
NOW, THEREFORE for good and valuable consideration, receipt of which is hereby
acknowledged, the Ceding Company and the Reinsurer hereby agree to amend the
Agreement as follows:
I. Schedule B is deleted in its entirety and replaced with the attached
revised Schedule B.
II. Exhibit II is deleted in its entirety and replaced with the attached
revised Exhibit II.
Except as herein amended, all other terms and conditions of the Agreement shall
remain in full force and effect and unchanged.
Single Life Treaty -- Effective 12/01/2002
Between HLIC and RGA
Amendment #12 -- Effective 06/01/2007
1
In witness of the foregoing, the Ceding Company and the Reinsurer have, by their
respective officers, executed this Amendment in duplicate on the dates indicated
below, with an effective date of June 1, 2007.
RGA REINSURANCE COMPANY
By: /s/ Xxxxxx Xxxx Attest: /s/ Xxxxxxx X. Xxx
------------------------------ ------------------------------
Name: Xxxxxx Xxxx Name: Xxxxxxx X. Xxx
Title: Sales Vice President Title: Sales Vice President
Date: 8/31/07 Date: 8/31/07
HARTFORD LIFE INSURANCE COMPANY
By: /s/ Xxxxxx X. Xxxxxxxx Attest: /s/ Xxxx Xxxxxx
------------------------------ ------------------------------
Name: Xxxxxx X. Xxxxxxxx Name: Xxxx Xxxxxx
Title: Vice President, Individual Title: Senior Vice President,
Life Product Individual Life Product
Date: 10/22/2007 Date: 10/22/2007
Single Life Treaty -- Effective 12/01/2002
Between HLIC and RGA
Amendment #12 -- Effective 06/01/2007
2
SCHEDULE B
BASIS OF REINSURANCE
EFFECTIVE JUNE 1, 2007
REINSURANCE POOL SHARE: [Redacted]
LEAD REINSURER: [Redacted]
AUTOMATIC REINSURANCE [Redacted]
FACULTATIVE REINSURANCE [Redacted]
The Reinsurer will accept X% (as determined at issue) of the risk.
NET AMOUNT AT RISK DEFINITION: [Redacted]
MINIMUM FACULTATIVE REINSURANCE CESSION: [Redacted]
FACULTATIVE OBLIGATORY: [Redacted]
The Reinsurer shall provide the following Facultative Obligatory capacity:
[Redacted]
Single Life Treaty -- Effective 12/01/2002
Between HLIC and RGA
Amendment #12 -- Effective 06/01/2007
3
EXHIBIT II
SINGLE LIFE RETENTION, BINDING, AND TOTAL POOL ISSUE LIMITS
(APPLICABLE TO TOTAL POOL FOR SINGLE LIFE POOL BUSINESS -- NOT LS, CUSTOM TERM,
& STAG UL+)
EFFECTIVE JUNE 1, 2007
[Redacted]
RETENTION LIMIT I ("RL I") RETENTION LIMIT II ("XX XX")
AUTOMATIC BINDING LIMIT (EXCLUDES AUTOMATIC BINDING LIMIT (EXCLUDES
RETENTION) RETENTION)
AUTOMATIC ISSUE LIMIT WITH RL I AUTOMATIC ISSUE LIMIT WITH XX XX
AUTOMATIC PROCESSING LIMIT WITH RL I AUTOMATIC PROCESSING LIMIT WITH XX XX
FACULTATIVE OBLIGATORY AUTO BINDING FACULTATIVE OBLIGATORY AUTO BINDING
LIMIT (EXCLUDES RETENTION) LIMIT (EXCLUDES RETENTION)
FACULTATIVE OBLIGATORY AUTO ISSUE FACULTATIVE OBLIGATORY AUTO ISSUE
LIMIT WITH RL I LIMIT WITH XX XX
JUMBO LIMIT JUMBO LIMIT
Single Life Treaty -- Effective 12/01/2002
Between HLIC and RGA
Amendment #12 -- Effective 06/01/2007
4
EXHIBIT II
SINGLE LIFE RETENTION, BINDING, AND TOTAL POOL ISSUE LIMITS
(APPLICABLE TO TOTAL POOL FOR SINGLE LIFE POOL BUSINESS -- NOT LS, CUSTOM TERM,
& STAG UL+)
EFFECTIVE JUNE 1, 2007
[Redacted]
Single Life Treaty -- Effective 12/01/2002
Between HLIC and RGA
Amendment #12 -- Effective 06/01/2007
5
(000) 0000-00-00
AMENDMENT 14
EFFECTIVE FEBRUARY 11, 2008
TO THE
AUTOMATIC AND FACULTATIVE YEARLY RENEWABLE TERM REINSURANCE AGREEMENT
EFFECTIVE NOVEMBER 1, 2002, FOR FACULTATIVE BUSINESS
EFFECTIVE DECEMBER 1, 2002, FOR AUTOMATIC BUSINESS
BETWEEN
HARTFORD LIFE INSURANCE COMPANY ("CEDING COMPANY")
AND
RGA REINSURANCE COMPANY ("REINSURER")
("AGREEMENT")
WHEREAS, the Reinsurer currently reinsures the Ceding Company's plans or
policies under the Agreement; and
WHEREAS, the Ceding Company and the Reinsurer wish to amend the Agreement to
revise the maximum issue age to 85; and
WHEREAS, the Ceding Company and the Reinsurer wish to amend the Agreement to
provide that certain specified replacement business shall not be counted toward
the Jumbo Limit; and
WHEREAS, the Ceding Company and the Reinsurer wish to amend the Agreement to
increase the Automatic Binding, Automatic Issue and Automatic Processing Limits
under the Retention Limit II in Exhibit II, originally described in Amendment
12; and
WHEREAS, the Ceding Company and the Reinsurer wish to amend the Agreement to
clarify the situations in which the Retention Limit II schedule would apply.
NOW, THEREFORE, for good and valuable consideration, receipt of which is hereby
acknowledged, the Ceding Company and the Reinsurer hereby agree to amend the
Agreement as follows:
- Article II, Section A, Paragraph 4, is deleted in its entirety and
replaced with the following:
4. The maximum issue age will be 85.
- Article II, Section A, Paragraph 7, is deleted in its entirety and
replaced with the following:
Single Life Excess Treaty -- Effective 12/01/2002
Between HLIC and RGA
Amendment 14 -- Effective 2/11/2008
1
(000) 0000-00-00
Single Life Excess Treaty -- Effective 12/01/2002
Between HLIC and RGA
Amendment 14 -- Effective 2/11/2008
2
(000) 0000-00-00
- Schedule B is deleted in its entirety and replaced with the attached
revised Schedule B.
- Exhibit II is deleted in its entirety and replaced with the attached
revised Exhibit II.
Except as herein amended, all other terms and conditions of the Agreement shall
remain in full force and effect and unchanged.
Single Life Excess Treaty -- Effective 12/01/2002
Between HLIC and RGA
Amendment 14 -- Effective 2/11/2008
3
(000) 0000-00-00
In witness of the foregoing, the Ceding Company and the Reinsurer have, by their
respective officers, executed this Amendment in duplicate on the dates indicated
below, with an effective date of February 11, 2008.
RGA REINSURANCE COMPANY
By: /s/ Xxxxx X. Xxxxxx Attest: /s/ Xxxxx Xxxxxxx
------------------------------ ------------------------------
Name: Xxxxx X. Xxxxxx Name: Xxxxx Xxxxxxx
Title: Vice President & Actuary Title: Vice President & Actuary
Date: 8/11/2009 Date: 8/11/2009
HARTFORD LIFE INSURANCE COMPANY
By: /s/ Xxxxxx X. Xxxxxxxx Attest: /s/ Xxxx Xxxxxx
------------------------------ ------------------------------
Name: Xxxxxx X. Xxxxxxxx Name: Xxxx Xxxxxx, FSA, MAAA
Title: Vice President, Individual Title: Senior Vice President
Life Product Individual Life Product
Management
Date: 8/31/2009 Date: 8/31/2009
Single Life Excess Treaty -- Effective 12/01/2002
Between HLIC and RGA
Amendment 14 -- Effective 2/11/2008
4
(000) 0000-00-00
SCHEDULE B
BASIS OF REINSURANCE
EFFECTIVE FEBRUARY 11, 2008
REINSURANCE POOL SHARE: [Redacted]
LEAD REINSURER: [Redacted]
AUTOMATIC REINSURANCE: [Redacted]
FACULTATIVE REINSURANCE
The Reinsurer will accept X% (as determined at issue) of the risk.
NET AMOUNT AT RISK DEFINITION: [Redacted]
MINIMUM FACULTATIVE REINSURANCE CESSION: [Redacted]
FACULTATIVE OBLIGATORY: [Redacted]
The Reinsurer shall provide the following Facultative Obligatory capacity:
[Redacted]
Single Life Excess Treaty -- Effective 12/01/2002
Between HLIC and RGA
Amendment 14 -- Effective 2/11/2008
5
(000) 0000-00-00
EXHIBIT II
SINGLE LIFE RETENTION, BINDING, AND TOTAL POOL ISSUE LIMITS
(Applicable to Total Pool for Single Life Pool Business -- NOT LS, Custom Term,
& Stag UL+)
EFFECTIVE FEBRUARY 11, 2008
[Redacted]
RETENTION LIMIT I ("RL I") RETENTION LIMIT II ("XX XX")
AUTOMATIC BINDING LIMIT (EXCLUDES RETENTION) AUTOMATIC BINDING LIMIT (EXCLUDES RETENTION)
AUTOMATIC ISSUE LIMIT WITH RL I AUTOMATIC ISSUE LIMIT WITH XX XX
AUTOMATIC PROCESSING LIMIT WITH RL I AUTOMATIC PROCESSING LIMIT WITH XX XX
FACULTATIVE OBLIGATORY AUTO BINDING LIMIT FACULTATIVE OBLIGATORY AUTO BINDING LIMIT
(EXCLUDES RETENTION) (EXCLUDES RETENTION)
FACULTATIVE OBLIGATORY AUTO ISSUE LIMIT WITH RL I FACULTATIVE OBLIGATORY AUTO ISSUE LIMIT WITH XX XX
JUMBO LIMIT JUMBO LIMIT
Single Life Excess Treaty -- Effective 12/01/2002
Between HLIC and RGA
Amendment 14 -- Effective 2/11/2008
6
(000) 0000-00-00
EXHIBIT II
SINGLE LIFE RETENTION, BINDING, AND TOTAL POOL ISSUE LIMITS
(Applicable to Total Pool for Single Life Pool Business -- NOT LS, Custom Term,
& Stag UL+)
EFFECTIVE FEBRUARY 11, 2008
[Redacted]
Single Life Excess Treaty -- Effective 12/01/2002
Between HLIC and RGA
Amendment 14 -- Effective 2/11/2008
7
AMENDMENT 15
EFFECTIVE MAY 1, 2008
TO THE
AUTOMATIC AND FACULTATIVE YEARLY RENEWABLE TERM REINSURANCE AGREEMENT
EFFECTIVE NOVEMBER 1, 2002 FOR FACULTATIVE BUSINESS
EFFECTIVE DECEMBER 1, 2002 FOR AUTOMATIC BUSINESS
("AGREEMENT")
BETWEEN
HARTFORD LIFE INSURANCE COMPANY
("CEDING COMPANY")
AND
RGA REINSURANCE COMPANY
("REINSURER")
WHEREAS, the Reinsurer currently reinsures the Ceding Company's plans or
policies under the Agreement; and
WHEREAS, the Ceding Company and the Reinsurer wish to amend the Agreement to
reflect the addition of the Leaders VUL Legacy and Leaders VUL Liberty products,
for policies issued on or after the effective date of this Amendment. The
reserves for these products will be determined using mortality on an Age Nearest
Birthday basis.
NOW, THEREFORE for good and valuable consideration, receipt of which is hereby
acknowledged, the Ceding Company and the Reinsurer hereby agree to amend the
Agreement as follows:
I. Article VI, Section A, is removed in its entirety and replaced with the
following:
A. STATUTORY RESERVES FOR THE MORTALITY RISK OF THE POLICY
[Redacted]
II. Schedule A is deleted in its entirety and replaced with the attached
revised Schedule A; and
III. Exhibit III is deleted in its entirety and replaced with the attached
revised Exhibit III.
Except as herein amended, all other terms and conditions of the Agreement shall
remain in full force and effect and unchanged.
Single Life Excess Treaty -- Effective 11/01/2002
Between HLIC and RGA
Amendment #15 - Effective 05/1/2008
1
In witness of the foregoing, the Ceding Company and the Reinsurer have, by their
respective officers, executed this Amendment in duplicate on the dates indicated
below, with an effective date of May 1, 2008.
RGA REINSURANCE COMPANY
By: /s/ Xxxxxx Xxxx Attest: /s/ Xxxxxxx X. Xxx
------------------------------ ------------------------------
Name: Xxxxxx Xxxx Name: Xxxxxxx X. Xxx
Title: Vice President Sales Title: Vice President Sales
Date: 5-13-08 Date: 5/13/08
HARTFORD LIFE INSURANCE COMPANY
By: /s/ Xxxxxx X Xxxxxxxx Attest: /s/ Xxxx Xxxxxx
------------------------------ ------------------------------
Name: Xxxxxx X Xxxxxxxx Name: Xxxx Xxxxxx, FSA, MAAA
Title: Vice President, Individual Title: Senior Vice President
Life Product Individual Life Product
Management
Date: 5/21/2008 Date: 5/21/2008
Single Life Excess Treaty -- Effective 11/01/2002
Between HLIC and RGA
Amendment #15 - Effective 05/1/2008
2
SCHEDULE A
PLANS COVERED UNDER THIS AGREEMENT
EFFECTIVE MAY 1, 2008
TYPE OF BUSINESS Individual life insurance issued by the Ceding Company
UPSCALE PRODUCTS RIDERS
------------------------------------------------------------------------------------------------------
Stag Protector Variable Universal Life Other Covered Insured
Stag Variable Life Accumulator Term Rider (base or other insured)
Stag Universal Life ADB Benefit (not reinsured)
SPVL (Fully underwritten only) Deduction Amount Waiver Rider
ART (CW), 5 & 10 Year Term (NY) Waiver of Monthly Deduction
One Year Term Waiver of Specified Amount
Stag Whole Life Enhanced No Lapse Guarantee Rider
Stag Protector Variable Universal Life II Estate Tax Repeal Benefit Rider
Stag Variable Life Accumulator II Level Compensation Endorsement
Stag Universal Life Cash Value Children's Life Insurance Rider
Leaders VUL Legacy Maturity Date Extension
Leaders VUL Liberty Guaranteed COI Benefit Rider
Mortality and Expense Risk Rates Rider
Foreign Travel Exclusion Rider
Policy Continuation Rider
Cost of Living Adjustment Rider
Accelerated Benefit Rider
Overloan Protection Rider
Estate Tax Repeal Rider
MIDDLE AMERICA PRODUCTS RIDERS
------------------------------------------------------------------------------------------------------
LBSI UL Term Rider (base or other insured)
Life Solutions I UL Waiver of Premium Riders
Life Solutions II UL Waiver of Monthly Deduction Riders
20 Year Term Additional Purchase Option Rider
Disability Income Rider
WOODBURY PRODUCTS
------------------------------------------------------------------------------------------------------
Hartford Stag Wall Street Variable Universal Life Term Rider
ADB (not reinsured)
Waiver of Monthly Deduction
Waiver of Specified Amount
Cost of Living Adjustment Rider
Child Rider
Accelerated Benefit Rider
Specify Monthly Deductions
Enhanced No Lapse Guarantee
Single Life Excess Treaty -- Effective 11/01/2002
Between HLIC and RGA
Amendment #15 - Effective 05/1/2008
3
SCHEDULE A
PLANS COVERED UNDER THIS AGREEMENT
EFFECTIVE MAY 1, 2008
DESCRIPTIONS
RIDERS WHERE ADDITIONAL PREMIUM IS DUE TO THE REINSURER:
Other Covered Insured: Provides term coverage for insured other than base
insured.
Term Rider (base or other insured): Provides additional term coverage
Deduction Amount Waiver Rider: Waives monthly deduction amount if insured is
disabled
Waiver of Monthly Deduction: Waives monthly deduction amount if insured is
disabled
Waiver of Specified Amount: Waives specified amount if insured is disabled
Waiver of Premium Riders: Waives premium requirement if insured is disabled
Additional Purchase Option Rider: Provides additional term coverage
Cost of Living Adjustment Rider: This rider is available at issue only for
nonsubstandard issue ages 0 to 60. The rider allows for face amount increases
without underwriting biannually based on the Consumer Price Index with the
maximum amount of this increase being $50,000.
RIDERS THAT ALTER THE POLICY AND IN WHICH NO ADDITIONAL PREMIUM IS PAID TO THE
REINSURER. IF A POLICY HAS THIS RIDER IT IS STILL COVERED UNDER THE AGREEMENT:
Children's Life Insurance Rider: Provides additional term coverage for a child.
No separate reinsurance benefits are associated with this rider.
Enhanced No Lapse Guarantee Rider: This rider guarantees that the policy will
not lapse, regardless of investment performance, provided cumulative premiums
paid less indebtedness less withdrawals are greater than or equal to the
cumulative no lapse guarantee premiums. There is a lifetime option and a limited
term option. The limited term option is the lesser of 20 years or to attained
age 80 for issue ages 0 to 70 and the minimum of 10 years or to attained age 90
for issue ages 71 to 85. Also, at the time when the no lapse guarantee
terminates or defaults, the policyholder may be eligible for an additional
amount of time they have this protection, which is based on the then current
account value.
Estate Tax Repeal Benefit Rider: This rider will pay the account value less
indebtedness if the Federal Estate Tax Law is fully repealed by December 31,
2010 and we receive a request for this benefit amount from the insured.
Level Compensation Endorsement: Surrender charges are not assessed for a full
surrender during the first three policy years. There is no charge for this
rider.
Single Life Excess Treaty -- Effective 11/01/2002
Between HLIC and RGA
Amendment #15 - Effective 05/1/2008
4
SCHEDULE A
PLANS COVERED UNDER THIS AGREEMENT
EFFECTIVE MAY 1, 2008
Maturity Date Extension Rider: When the policyholder reaches the maturity date
and has elected this rider, the death benefit is dropped to the account value,
no more monthly deductions are taken, interest is credited, no further premiums
are accepted, policy loans continue to accrue interest, and all other riders are
terminated.
Guaranteed COI Benefit Rider: This rider provides guaranteed cost of insurance
rates for the first 10 policy years. On each policy anniversary, we declare a
cost of insurance rate for a single policy year. This policy year is the policy
year 9 years from the then current policy anniversary. Thus the rider provides
that on any policy anniversary, cost of insurance rates over the next 10 years
will not exceed those provided by the rider. This rider is currently available
in only a few states and on variable life policy forms where the face amount is
at least thirty million dollars.
Accelerated Benefit Rider: With this rider, the policyholder can receive up to
100% of their death benefit discounted with interest if the life expectancy is
12 months or less.
Specify Monthly Deductions: This rider allows the policyholder to specify to
take monthly deductions out of a particular account in the policy.
Mortality and Expense Risk Rider: This rider guarantees that the mortality and
expense risk rate will be zero for years greater than and equal to 21.
Policy Continuation Rider: This rider is automatically added to the policy at
issue. This rider is intended to prevent the lapse of highly loaned policies.
Foreign Travel Exclusion Rider: The rider is written such that if the insured
dies while traveling to, from, or in a country NOT listed on the List of
Countries and Jurisdictions (Foreign Travel Exclusion Rider Exhibit II), or dies
as a direct or indirect result of an illness or injury sustained during such
travel, the death benefit proceeds will be limited to the policy's account
value, less any outstanding indebtedness.
Overloan Protection Rider: This rider is automatically added to the policy at
issue. This rider protects a policy from lapsing due to overloan.
Estate Tax Repeal Benefit Rider: This rider is automatically added to each
policy at issue, and allows for policy surrender without the assessment of
surrender charges, providing the following conditions are met:
- There is no federal estate tax in effect during the year 2011, and
- the surrender request is received during the month of January 2011.
This rider will terminate at the sooner of:
- the termination date of the policy, or
- January 31, 2011.
Single Life Excess Treaty -- Effective 11/01/2002
Between HLIC and RGA
Amendment #15 - Effective 05/1/2008
5
EXHIBIT III
EFFECTIVE MAY 1, 2008
Annual per 1000 Yearly Renewable Term reinsurance rates are attached.
These rates are used for Automatic, Facultative Obligatory, and Facultative
policies.
PRODUCTS USING MULTI-CLASS RATE TABLES: [Redacted]
Stag Protector Variable Universal Life
Stag Accumulator Variable Universal Life
Stag Universal Life
Stag Whole Life
Hartford Stag Wall Street Variable Universal Life
Stag Universal Life Plus
Stag Universal Life Cash Value
Leaders VUL Legacy
Leaders VUL Liberty
PRODUCTS USING UNI-CLASS RATE TABLES: [Redacted]
LBSI UL
Life Solutions I UL
Life Solutions II UL
20 Year Term
ART (CW)
5 & 10 Year Term (NY)
SPVL
One Year Term
Single Life Excess Treaty -- Effective 11/01/2002
Between HLIC and RGA
Amendment #15 - Effective 05/1/2008
6
AMENDMENT 16
EFFECTIVE OCTOBER 1, 2008
TO THE
AUTOMATIC AND FACULTATIVE YEARLY RENEWABLE TERM REINSURANCE AGREEMENT
EFFECTIVE NOVEMBER 1, 2002 FOR FACULTATIVE BUSINESS
EFFECTIVE DECEMBER 1, 2002 FOR AUTOMATIC BUSINESS
("AGREEMENT")
BETWEEN
HARTFORD LIFE INSURANCE COMPANY
("CEDING COMPANY")
AND
RGA REINSURANCE COMPANY
("REINSURER")
WHEREAS, the Reinsurer currently reinsures the Ceding Company's plans or
policies under the Agreement; and
WHEREAS, the Ceding Company and the Reinsurer wish to amend the Agreement to
reflect the addition of two products and two riders, for policies issued on or
after the effective date of this Amendment. The products are Bicentennial UL
Founders and Life Solutions II UL (2001 CSO version). The riders are the
Guaranteed Minimum Accumulation Benefit (GMAB) Rider and the Paid-Up Life
Insurance Rider. The reserves for the Bicentennial UL Founders product will be
determined using mortality on an Age Nearest Birthday basis. For these riders,
no specific reinsurance premium is payable to the Reinsurer under this
Agreement.
NOW, THEREFORE, for good and valuable consideration, receipt of which is hereby
acknowledged, the Ceding Company and the Reinsurer hereby agree to amend the
Agreement as follows:
I. Schedule A is deleted in its entirety and replaced with the attached
revised Schedule A; and
II. The first page of Exhibit III is deleted and replaced with the attached
revised first page of Exhibit III.
Except as herein amended, all other terms and conditions of the Agreement shall
remain in full force and effect and unchanged.
Single Life Excess Treaty -- Effective 11/01/2002
Between HLIC and RGA
Amendment #16- Effective 10/1/2008
1
In witness of the foregoing, the Ceding Company and the Reinsurer have, by their
respective officers, executed this Amendment in duplicate on the dates indicated
below, with an effective date of October 1, 2008.
RGA REINSURANCE COMPANY
By: /s/ Xxxxx X. Xxxxxx Attest: /s/ Xxxxx Xxxxxxx
------------------------------ ------------------------------
Name: Xxxxx X. Xxxxxx Name: Xxxxx Xxxxxxx
Title: Vice President & Actuary Title: Vice President & Actuary
Date: 4/21/2009 Date: 4/21/2009
HARTFORD LIFE INSURANCE COMPANY
By: /s/ Xxxxxx X. Xxxxxxxx Attest: /s/ Xxxx Xxxxxx
------------------------------ ------------------------------
Name: Xxxxxx X. Xxxxxxxx Name: Xxxx Xxxxxx, FSA, MAAA
Title: Vice President, IL Product Title: Senior Vice President IMG
Product Management
Date: 5/6/2009 Date: 5/8/2009
Single Life Excess Treaty -- Effective 11/01/2002
Between HLIC and RGA
Amendment #16- Effective 10/1/2008
2
SCHEDULE A
PLANS COVERED UNDER THIS AGREEMENT
EFFECTIVE OCTOBER 1, 2008
TYPE OF BUSINESS Individual life insurance issued by the Ceding
Company
UPSCALE PRODUCTS RIDERS
Stag Protector Variable Universal Other Covered Insured
Life
Stag Variable Life Accumulator Term Rider (base or other insured)
Stag Universal Life ADB Benefit (not reinsured)
SPVL (Fully underwritten only) Deduction Amount Waiver Rider
ART (CW), 5 & 10 Year Term (NY) Waiver of Monthly Deduction
One Year Term Waiver of Specified Amount
Stag Whole Life Enhanced No Lapse Guarantee Rider
Stag Protector Variable Universal Estate Tax Repeal Benefit Rider
Life II
Stag Variable Life Accumulator II Level Compensation Endorsement
Stag Universal Life Cash Value Children's Life Insurance Rider
Leaders VUL Legacy Maturity Date Extension
Leaders VUL Liberty Guaranteed COI Benefit Rider
Bicentennial UL Founders Mortality and Expense Risk Rates Rider
Foreign Travel Exclusion Rider
Policy Continuation Rider
Cost of Living Adjustment Rider
Accelerated Benefit Rider
Overloan Protection Rider
Estate Tax Repeal Rider
Guaranteed Minimum Accumulation Benefit
Rider
Paid-Up Life Insurance Rider
MIDDLE AMERICA PRODUCTS RIDERS
LBSI UL Term Rider (base or other insured)
Life Solutions I UL Waiver of Premium Riders
Life Solutions II UL Waiver of Monthly Deduction Riders
20 Year Term Additional Purchase Option Rider
Life Solutions II UL (2001 CSO Disability Income Rider
version)
WOODBURY PRODUCTS
Hartford Stag Wall Street Variable Term Rider
Universal Life
ADB (not reinsured)
Waiver of Monthly Deduction
Waiver of Specified Amount
Cost of Living Adjustment Rider
Child Rider
Accelerated Benefit Rider
Specify Monthly Deductions
Enhanced No Lapse Guarantee
Single Life Excess Treaty -- Effective 11/01/2002
Between HLIC and RGA
Amendment #16- Effective 10/1/2008
3
SCHEDULE A
PLANS COVERED UNDER THIS AGREEMENT
EFFECTIVE OCTOBER 1, 2008
DESCRIPTIONS
RIDERS WHERE ADDITIONAL PREMIUM IS DUE TO THE REINSURER:
Other Covered Insured: Provides term coverage for insured other than base
insured
Term Rider (base or other insured): Provides additional term coverage
Deduction Amount Waiver Rider: Waives monthly deduction amount if insured is
disabled
Waiver of Monthly Deduction: Waives monthly deduction amount if insured is
disabled
Waiver of Specified Amount: Waives specified amount if insured is disabled
Waiver of Premium Riders: Waives premium requirement if insured is disabled
Additional Purchase Option Rider: Provides additional term coverage
Cost of Living Adjustment Rider: This rider is available at issue only for
nonsubstandard issue ages 0 to 60. The rider allows for face amount increases
without underwriting biannually based on the Consumer Price Index with the
maximum amount of this increase being $50,000.
RIDERS THAT ALTER THE POLICY AND IN WHICH NO ADDITIONAL PREMIUM IS PAID TO THE
REINSURER. IF A POLICY HAS THIS RIDER IT IS STILL COVERED UNDER THE AGREEMENT:
Children's Life Insurance Rider: Provides additional term coverage for a child.
No separate reinsurance benefits are associated with this rider.
Enhanced No Lapse Guarantee Rider: This rider guarantees that the policy will
not lapse, regardless of investment performance, provided cumulative premiums
paid less indebtedness less withdrawals are greater than or equal to the
cumulative no lapse guarantee premiums. There is a lifetime option and a limited
term option. The limited term option is the lesser of 20 years or to attained
age 80 for issue ages 0 to 70 and the minimum of 10 years or to attained age 90
for issue ages 71 to 85. Also, at the time when the no lapse guarantee
terminates or defaults, the policyholder may be eligible for an additional
amount of time they have this protection, which is based on the then current
account value.
Estate Tax Repeal Benefit Rider: This rider will pay the account value less
indebtedness if the Federal Estate Tax Law is fully repealed by December 31,
2010 and we receive a request for this benefit amount from the insured.
Level Compensation Endorsement: Surrender charges are not assessed for a full
surrender during the first three policy years. There is no charge for this
rider.
Single Life Excess Treaty -- Effective 11/01/2002
Between HLIC and RGA
Amendment #16- Effective 10/1/2008
4
SCHEDULE A
PLANS COVERED UNDER THIS AGREEMENT
EFFECTIVE OCTOBER 1, 2008
Maturity Date Extension Rider: When the policyholder reaches the maturity date
and has elected this rider, the death benefit is dropped to the account value,
no more monthly deductions are taken, interest is credited, no further premiums
are accepted, policy loans continue to accrue interest, and all other riders are
terminated.
Guaranteed COI Benefit Rider: This rider provides guaranteed cost of insurance
rates for the first 10 policy years. On each policy anniversary, we declare a
cost of insurance rate for a single policy year. This policy year is the policy
year 9 years from the then current policy anniversary. Thus the rider provides
that on any policy anniversary, cost of insurance rates over the next 10 years
will not exceed those provided by the rider. This rider is currently available
in only a few states and on variable life policy forms where the face amount is
at least thirty million dollars.
Accelerated Benefit Rider: With this rider, the policyholder can receive up to
100% of their death benefit discounted with interest if the life expectancy is
12 months or less.
Specify Monthly Deductions: This rider allows the policyholder to specify to
take monthly deductions out of a particular account in the policy.
Mortality and Expense Risk Rider: This rider guarantees that the mortality and
expense risk rate will be zero for years greater than and equal to 21.
Policy Continuation Rider: This rider is automatically added to the policy at
issue. This rider is intended to prevent the lapse of highly loaned policies.
Foreign Travel Exclusion Rider: The rider is written such that if the insured
dies while traveling to, from, or in a country NOT listed on the List of
Countries and Jurisdictions (Foreign Travel Exclusion Rider Exhibit II), or dies
as a direct or indirect result of an illness or injury sustained during such
travel, the death benefit proceeds will be limited to the policy's account
value, less any outstanding indebtedness.
Overloan Protection Rider: This rider is automatically added to the policy at
issue. This rider protects a policy from lapsing due to overloan.
Estate Tax Repeal Benefit Rider: This rider is automatically added to each
policy at issue, and allows for policy surrender without the assessment of
surrender charges, providing the following conditions are met:
- There is no federal estate tax in effect during the year 2011, and
- the surrender request is received during the month of January 2011.
This rider will terminate at the sooner of:
- the termination date of the policy, or
- January 31, 2011.
Single Life Excess Treaty -- Effective 11/01/2002
Between HLIC and RGA
Amendment #16- Effective 10/1/2008
5
SCHEDULE A
PLANS COVERED UNDER THIS AGREEMENT
EFFECTIVE OCTOBER 1, 2008
Guaranteed Minimum Accumulation Benefit (GMAB) Rider: This rider provides that
at the end of the GMAB Guarantee Period (usually 20 years), the policy account
value will be increased, if necessary, to equal the sum of gross premiums paid
to that date. There is a small monthly charge to the policyholder, and a minimum
cumulative premium requirement to keep the rider in force.
Paid-Up Life Insurance Rider: This rider is similar to GMAB rider with the same
Guarantee Period, a monthly charge, and a cumulative premium requirement. This
rider provides that at end of Guarantee Period, policyholder may elect to change
coverage to paid-up life insurance using account value as a 5% Net Single
Premium to determine amount of coverage; however, amount of coverage will never
be lower than sum of gross premiums paid to that date. Once elected, premiums
are no longer accepted.
Single Life Excess Treaty -- Effective 11/01/2002
Between HLIC and RGA
Amendment #16- Effective 10/1/2008
6
EXHIBIT III
EFFECTIVE OCTOBER 1, 2008
Annual per 1000 Yearly Renewable Term reinsurance rates are attached.
These rates are used for Automatic, Facultative Obligatory, and Facultative
policies.
PRODUCTS USING MULTI-CLASS RATE TABLES: [Redacted]
Stag Protector Variable Universal Life
Stag Accumulator Variable Universal Life
Stag Universal Life
Stag Whole Life
Hartford Stag Wall Street Variable Universal Life
Stag Universal Life Plus
Stag Universal Life Cash Value
Leaders VUL Legacy
Leaders VUL Liberty
Bicentennial UL Founders
PRODUCTS USING UNI-CLASS RATE TABLES: [Redacted]
LBSI UL
Life Solutions I UL
Life Solutions II UL
20 Year Term
ART (CW)
5 & 10 Year Term (NY)
SPVL
One Year Term
Life Solutions II UL (2001 CSO version)
Single Life Excess Treaty -- Effective 11/01/2002
Between HLIC and RGA
Amendment #16- Effective 10/1/2008
7
RGA Re No. (000) 0000-00-00
AMENDMENT 18
EFFECTIVE MARCH 1, 2009
TO THE
AUTOMATIC AND FACULTATIVE YEARLY RENEWABLE TERM REINSURANCE AGREEMENT
EFFECTIVE NOVEMBER 1, 2002, FOR FACULTATIVE BUSINESS
EFFECTIVE DECEMBER 1, 2002, FOR AUTOMATIC BUSINESS
("AGREEMENT")
BETWEEN
HARTFORD LIFE INSURANCE COMPANY
("CEDING COMPANY")
AND
RGA REINSURANCE COMPANY
("REINSURER")
WHEREAS, the Reinsurer currently reinsures the Ceding Company's plans or
policies under the Agreement; and
WHEREAS, the Ceding Company and the Reinsurer wish to amend the Liability and
Termination articles of the Agreement to clarify liability after termination of
the Agreement for new business; and
WHEREAS, the Ceding Company and the Reinsurer wish to amend the Agreement to
terminate it for new business.
NOW, THEREFORE, for good and valuable consideration, receipt of which is hereby
acknowledged, the Ceding Company and the Reinsurer hereby agree as follows:
I. Article III, Liability, is amended to add the following Section H:
H. Following the termination of this Agreement for new business, as described
in Article XX, the Reinsurer shall continue to be liable for:
1. All Automatic and Facultative Reinsurance in effect just before such
termination of this Agreement;
2. All Automatic Reinsurance:
a. that becomes effective after such termination of this Agreement on
face amount increases issued on, and reinstatements of, policies
issued before such termination of this Agreement; or
b. in excess of the Ceding Company's retention that becomes effective
after such termination of this Agreement on face amount increases
issued on fully retained policies issued before termination.
Single Life Excess Treaty -- Effective 11/01/2002
Between HLIC and RGA
Amendment 18-Effective 03/1/2009
1
3. All Facultative Reinsurance coverage that becomes effective after
such termination of this Agreement, on risks facultatively submitted
to the Reinsurer before such termination.
II. Article XX, Termination, is deleted in its entirety and replaced with the
following:
A. The Ceding Company and the Reinsurer may terminate this Agreement as it
applies to the new business of each by giving ninety (90) days' written notice
of termination. The day the notice is deposited in the mail addressed to the
Home Office, or to an Officer of each party, will be the first day of the
ninety-day (90) period. In addition, this Agreement may be terminated
immediately for the acceptance of new reinsurance by either party if one of the
parties becomes insolvent as described in Article XVII.
B. During the ninety-day (90) period, this Agreement will continue to be in
force between the terminating parties.
C. Following termination of this Agreement for new business, the terminating
parties shall remain liable in accordance with Article III of this Agreement.
III. This Agreement will terminate for new business effective March 1, 2009.
Except as herein amended, all other terms and conditions of the Agreement shall
remain unchanged and in full force and effect.
Single Life Excess Treaty -- Effective 11/01/2002
Between HLIC and RGA
Amendment 18-Effective 03/1/2009
2
In witness of the foregoing, the Ceding Company and the Reinsurer have, by their
respective officers, executed this Amendment in duplicate on the dates indicated
below, with an effective date of March 1, 2009.
RGA REINSURANCE COMPANY
By: /s/ Xxxxx X. Xxxxxx Attest: /s/ Xxxxx Xxxxxxx
------------------------------ ------------------------------
Name: Xxxxx X. Xxxxxx Name: Xxxxx Xxxxxxx
Title: Vice President & Actuary Title: Vice President & Actuary
Date: 8-31-09 Date: 8/31/2009
HARTFORD LIFE INSURANCE COMPANY
By: /s/ Xxxxxx X. Xxxxxxxx Attest: /s/ Xxxx Xxxxxx
------------------------------ ------------------------------
Name: Xxxxxx X. Xxxxxxxx Name: Xxxx Xxxxxx, FSA, MAAA
Title: Vice President, Individual Title: Senior Vice President
Life Product Individual Life Product
Management
Date: 9/24/2009 Date: 9/24/09
Single Life Excess Treaty -- Effective 11/01/2002
Between HLIC and RGA
Amendment 18-Effective 03/1/2009
3
AMENDMENT 19
EFFECTIVE OCTOBER 1, 2008
TO THE
AUTOMATIC AND FACULTATIVE YEARLY RENEWABLE TERM REINSURANCE AGREEMENT
EFFECTIVE NOVEMBER 1, 2002 FOR FACULTATIVE BUSINESS
EFFECTIVE DECEMBER 1, 2002 FOR AUTOMATIC BUSINESS
("AGREEMENT")
BETWEEN
HARTFORD LIFE INSURANCE COMPANY
("CEDING COMPANY")
AND
RGA REINSURANCE COMPANY
("REINSURER")
WHEREAS, the Reinsurer currently reinsures the Ceding Company's plans or
policies under the Agreement; and
WHEREAS, the Ceding Company and the Reinsurer have revised Schedule A on
multiple dates since the effective dates of the Agreement; and
WHEREAS, the Ceding Company and the Reinsurer acknowledge that the Agreement was
not amended to reflect the addition of the Conversion Option Rider, the
Guaranteed Issue Option Rider, and the Liquidity Enhancement Rider, for policies
issued on or after October 2, 2006; and
WHEREAS, the Ceding Company and the Reinsurer originally intended to add the
above-mentioned riders using Amendment 13; and
WHEREAS, the Ceding Company and the Reinsurer agree that no Amendment 13 was
created; and
WHEREAS, the Ceding Company and the Reinsurer now wish to clarify Schedule A to
reflect the effective dates of Products and Riders since the effective dates of
the Agreement and ensure that Rider names are presented accurately; and
WHEREAS, the Ceding Company and the Reinsurer agree that no additional
reinsurance premium is due to the Reinsurer for these riders under this
Agreement.
Single Life Excess Treaty -- Effective 11/01/2002
Between HL and RGA
Amendment #21 -- Effective 10/1/2008
1
NOW, THEREFORE, for good and valuable consideration, receipt of which is hereby
acknowledged, the Ceding Company and the Reinsurer hereby agree to amend the
Agreement as follows:
I. Schedule A is deleted in its entirety and replaced with the attached revised
Schedule A.
Except as herein amended, all other terms and conditions of the Agreement shall
remain in full force and effect and unchanged.
In witness of the foregoing, the Ceding Company and the Reinsurer have, by their
respective officers, executed this Amendment in duplicate on the dates indicated
below, with an effective date of October 1, 2008.
RGA REINSURANCE COMPANY
By: /s/ Xxxxx X. Xxxxxx Attest: /s/ Xxxxx Xxxxxxx
------------------------------ ------------------------------
Name: Xxxxx X. Xxxxxx Name: Xxxxx Xxxxxxx
Title: Vice President & Actuary Title: Vice President & Actuary
Date: 7/30/2010 Date: 7/30/2010
HARTFORD LIFE INSURANCE COMPANY
By: /s/ Xxxxxxx Xxxxxxxxx Attest: /s/ Xxxx Xxxxxxx
------------------------------ ------------------------------
Name: Xxxxxxx Xxxxxxxxx Name: Xxxx Xxxxxxx
Title: Assistant Vice President & Title: Assistant Vice President &
Actuary Actuary
Date: 8/5/2010 Date: 8/5/2010
Single Life Excess Treaty -- Effective 11/01/2002
Between HL and RGA
Amendment #21 -- Effective 10/1/2008
2
SCHEDULE A
PLANS COVERED UNDER THIS AGREEMENT
EFFECTIVE OCTOBER 1, 2008
TYPE OF BUSINESS Individual life insurance issued by the
Ceding Company
UPSCALE PRODUCTS RIDERS
-----------------------------------------------------------------------------
Stag Protector Variable Universal Life* Other Covered Insured Rider*
Stag Variable Life Accumulator* Term Rider (base or other insured)*
Stag Universal Life* Accidental Death Benefit (not
reinsured)*
SPVL (Fully underwritten only)* Deduction Amount Waiver Rider*
ART (CW), 5 & 10 Year Term (NY)* Waiver of Monthly Deduction Rider*
One Year Term* Waiver of Specified Amount Rider*
Stag Whole Life* Enhanced No Lapse Guarantee Rider*
Stag Protector Variable Universal Life Estate Tax Repeal Benefit Rider*
II
(eff. December 1, 2003) Level Compensation Endorsement*
Stag Variable Life Accumulator II Children's Life Insurance Rider*
(eff. December 1, 2003) Maturity Date Extension Rider*
Stag Universal Life Cash Value Guaranteed COI Benefit Rider*
(eff. July 1, 2005) Mortality and Expense Risk Rates
Rider*
Leaders VUL Legacy (eff. May 1, 2008) Foreign Travel Exclusion Rider
(eff. November 1,
Leaders VUL Liberty (eff. May 1, 2008) 2002 (fac.); December 1, 2002
(auto)
Bicentennial UL Founders (eff. October Policy Continuation Rider (eff.
1, 2008) December 1, 2003)
Conversion Option Rider (eff.
October 2, 2006)
Guaranteed Issue Option Rider (eff.
October 2, 2006)
Liquidity Enhancement Rider (eff.
October 2, 2006)
Cost of Living Adjustment Rider
(eff. May 1, 2008)
Overloan Protection Rider (eff. May
1, 2008)
Guaranteed Minimum Accumulation
Benefit Rider
(eff. October 1, 2008)
Paid-Up Life Insurance Rider (eff.
October 1, 2008)
MIDDLE AMERICA PRODUCTS RIDERS
-----------------------------------------------------------------------------
LBSI UL* Term Rider (base or other insured)*
Life Solutions I UL* Waiver of Premium Riders*
Life Solutions II UL* Waiver of Monthly Deduction Riders*
20 Year Term* Additional Purchase Option Rider*
Life Solutions II UL (2001 CSO version) Disability Income Rider*
(eff. October 1, 2008)
WOODBURY PRODUCTS
-----------------------------------------------------------------------------
Hartford Stag Wall Street Variable Term Rider (base or other insured)*
Universal Life*
Accidental Death Benefit (not
reinsured)*
Waiver of Monthly Deduction Rider*
Waiver of Specified Amount Rider*
Cost of Living Adjustment Rider*
Children's Life Insurance Rider*
Accelerated Death Benefit Rider*
Specify Monthly Deductions Rider*
Enhanced No Lapse Guarantee Rider*
*Effective November 1, 2002 (fac.), December 1, 2002 (auto), in treaty
Single Life Excess Treaty -- Effective 11/01/2002
Between HL and RGA
Amendment #21 -- Effective 10/1/2008
3
SCHEDULE A
PLANS COVERED UNDER THIS AGREEMENT
EFFECTIVE OCTOBER 1, 2008
DESCRIPTIONS
RIDERS FOR WHICH ADDITIONAL PREMIUM IS DUE TO THE REINSURER:
Other Covered Insured Rider: Provides term coverage for insured other than base
insured.
Term Rider (base or other insured): Provides additional term coverage.
Deduction Amount Waiver Rider: Waives monthly deduction amount if insured is
disabled.
Waiver of Monthly Deduction Rider: Waives monthly deduction amount if insured is
disabled.
Waiver of Specified Amount Rider: Waives specified amount if insured is
disabled.
Waiver of Premium Riders: Waives premium requirement if insured is disabled.
Additional Purchase Option Rider: Provides additional term coverage.
Cost of Living Adjustment Rider: This rider is available at issue only for
nonsubstandard issue ages 0 to 60. The rider allows for face amount increases
without underwriting biannually based on the Consumer Price Index with the
maximum amount of this increase being $50,000.
RIDERS THAT ALTER THE POLICY AND FOR WHICH NO ADDITIONAL PREMIUM IS PAID TO THE
REINSURER. IF A POLICY HAS THIS RIDER IT IS STILL COVERED UNDER THE AGREEMENT:
Accidental Death Benefit Rider: Pays an additional death benefit if the death on
the insured is caused by a qualifying accident.
Children's Life Insurance Rider: Provides additional term coverage for a child.
No separate reinsurance benefits are associated with this rider.
Enhanced No Lapse Guarantee Rider: This rider guarantees that the policy will
not lapse, regardless of investment performance, provided cumulative premiums
paid less indebtedness less withdrawals are greater than or equal to the
cumulative no lapse guarantee premiums. There is a lifetime option and a limited
term option. The limited term option is the lesser of 20 years or to attained
age 80 for issue ages 0 to 70 and the minimum of 10 years or to attained age 90
for issue ages 71 to 85. Also, at the time when the no lapse guarantee
terminates or defaults, the policyholder may be eligible for an additional
amount of time they have this protection, which is based on the then current
account value.
Single Life Excess Treaty -- Effective 11/01/2002
Between HL and RGA
Amendment #21 -- Effective 10/1/2008
4
SCHEDULE A
PLANS COVERED UNDER THIS AGREEMENT
EFFECTIVE OCTOBER 1, 2008
Estate Tax Repeal Benefit Rider: (eff. 11/1/2002 (fac), 12/1/2002 (auto) This
rider will pay the account value less indebtedness if the Federal Estate Tax Law
is fully repealed by December 31, 2010 and we receive a request for this benefit
amount from the insured. (eff 5/1/2008) This rider is automatically added to
each policy at issue, and allows for policy surrender without the assessment of
surrender charges, providing the following conditions are met:
- There is no federal estate tax in effect during the year 2011; and
- The surrender request is received during the month of January 2011.
This rider will terminate at the sooner of:
- The termination date of the policy, or
- January 31, 2011.
Level Compensation Endorsement: Surrender charges are not assessed for a full
surrender during the first three policy years. There is no charge for this
rider.
Maturity Date Extension Rider: When the policyholder reaches the maturity date
and has elected this rider, the death benefit is dropped to the account value,
no more monthly deductions are taken, interest is credited, no further premiums
are accepted, policy loans continue to accrue interest, and all other riders are
terminated.
Guaranteed COI Benefit Rider: This rider provides guaranteed cost of insurance
rates for the first 10 policy years. On each policy anniversary, we declare a
cost of insurance rate for a single policy year. This policy year is the policy
year 9 years from the then current policy anniversary. Thus the rider provides
that on any policy anniversary, cost of insurance rates over the next 10 years
will not exceed those provided by the rider. This rider is currently available
in only a few states and on variable life policy forms where the face amount is
at least thirty million dollars.
Accelerated Death Benefit Rider: With this rider, the policyholder can receive
up to 100% of their death benefit discounted with interest if the life
expectancy is 12 months or less.
Specify Monthly Deductions Rider: This rider allows the policyholder to specify
to take monthly deductions out of a particular account in the policy.
Mortality and Expense Risk Rider: This rider guarantees that the mortality and
expense risk rate will be zero for years greater than and equal to 21.
Policy Continuation Rider: This rider is automatically added to the policy at
issue. This rider is intended to prevent the lapse of highly loaned policies.
Foreign Travel Exclusion Rider: The rider is written such that if the insured
dies while traveling to, from, or in a country NOT listed on the List of
Countries and Jurisdictions (Foreign Travel Exclusion Rider Exhibit II), or dies
as a direct or indirect result of an illness or injury sustained during such
travel, the death benefit proceeds will be limited to the policy's account
value, less any outstanding indebtedness.
Single Life Excess Treaty -- Effective 11/01/2002
Between HL and RGA
Amendment #21 -- Effective 10/1/2008
5
SCHEDULE A
PLANS COVERED UNDER THIS AGREEMENT
EFFECTIVE OCTOBER 1, 2008
Conversion Option Rider: During certain policy years prior to the insured's
attained age 70, the policy may be converted, without evidence of insurability,
to any permanent plan of life insurance the Ceding Company then makes available
for conversions of this policy.
Guaranteed Issue Option Rider: This rider allows the policyholder to increase
the face amount of converted Stag Whole Life policies being converted via the
Conversion Option Rider by up to twice their original face amount.
Liquidity Enhancement Rider: This rider shortens the surrender charge period on
Stag Whole Life policies from 9 to 7 years. This rider results in policies'
credited interest rate and commissions being reduced.
Overloan Protection Rider: This rider is automatically added to the policy at
issue. This rider protects a policy from lapsing due to overloan.
Guaranteed Minimum Accumulation Benefit (GMAB) Rider: This rider provides that
at the end of the GMAB Guarantee Period (usually 20 years), the policy account
value will be increased, if necessary, to equal the sum of gross premiums paid
to that date. There is a small monthly charge to the policyholder, and a minimum
cumulative premium requirement to keep the rider in force.
Paid-Up Life Insurance Rider: This rider is similar to GMAB rider with the same
Guarantee Period, a monthly charge, and a cumulative premium requirement. This
rider provides that at the end of the Guarantee Period, policyholder may elect
to change coverage to paid-up life insurance using account value as a 5% Net
Single Premium to determine amount of coverage; however, amount of coverage will
never be lower than the sum of gross premiums paid to that date. Once elected,
premiums are no longer accepted.
Single Life Excess Treaty -- Effective 11/01/2002
Between HL and RGA
Amendment #21 -- Effective 10/1/2008
6
(000) 0000-00-00
AMENDMENT 20
EFFECTIVE NOVEMBER 1, 2002 (FAC)
EFFECTIVE DECEMBER 1, 2002 (AUTO)
TO THE
AUTOMATIC AND FACULTATIVE RENEWABLE TERM REINSURANCE AGREEMENT
EFFECTIVE NOVEMBER 1, 2002 FOR FACULTATIVE BUSINESS
EFFECTIVE DECEMBER 1, 2002 AUTOMATIC BUSINESS
BETWEEN
HARTFORD LIFE INSURANCE COMPANY ("CEDING COMPANY")
AND
RGA REINSURANCE COMPANY ("REINSURER")
RECITALS
WHEREAS, the Reinsurer currently reinsures the Ceding Company's plans or
policies under the above referenced reinsurance agreement ("Agreement"); and
WHEREAS, the Ceding Company and the Reinsurer wish to amend the Agreement to
clarify that policies which convert in accordance with the Agreement will be
reinsured by the Reinsurer regardless of whether the converted policy is issued
by the Ceding Company or one of its affiliates.
NOW, THEREFORE for good and valuable consideration, receipt of which is hereby
acknowledged, the Ceding Company and the Reinsurer hereby agree as follows:
1. The above recitals are true and accurate and are incorporated herein.
2. Article VIII, CONVERSIONS, is deleted in its entirety and replaced with the
following:
ARTICLE VIII
CONVERSIONS
Conversions from existing term plans of insurance reinsured under this Agreement
will be reinsured using YRT premiums attached as Exhibit I on a point in scale
basis up to the original face amount. The converted policy, whether issued by
the Ceding Company or one of its affiliates, will be reinsured with the
Reinsurer in the same proportion as was determined for the original term policy.
A term conversion is a contractual right of the policyholder to replace a term
policy with a permanent policy without evidence of insurability.
Single Life Excess Pool
Between HLIC and RGA
Effective 11/01/2002 Fac / 12/01/2002 Auto
Amendment 20 -- Effective 11/01/2002 Fac / 12/01/2002 Auto
1
3. Except as herein amended, all other terms and conditions of the Agreement
shall remain unchanged.
In witness of the foregoing, the Ceding Company and the Reinsurer have, by their
respective officers, hereby executed this Amendment in duplicate on the dates
indicated below, with an effective date of November 1, 2002 for Facultative
business and December 1, 2002 for Automatic business.
RGA REINSURANCE COMPANY
By: /s/ Xxxxx X. Xxxxxx Attest: /s/ Xxxxx [ILLEGIBLE]
------------------------------ ------------------------------
Name: Xxxxx X. Xxxxxx Name: XXXXX [ILLEGIBLE]
Title: Vice President & Actuary Title: Vice President & Actuary
Date: 10/4/2010 Date: 10 4 2010
HARTFORD LIFE INSURANCE COMPANY
By: /s/ Xxxxxxx Xxxxxxxxx Attest: /s/ Xxxx Xxxxxx
------------------------------ ------------------------------
Name: Xxxxxxx Xxxxxxxxx, FSA, MAAA Name: Xxxx Xxxxxx, FSA, MAAA
Title: Asst. Vice President and Title: Senior Vice President
Actuary Individual Life Individual Life Product
Product Management Management
Date: 10/22/2010 Date: 10/22/2010
Single Life Excess Pool
Between HLIC and RGA
Effective 11/01/2002 Fac / 12/01/2002 Auto
Amendment 20 -- Effective 11/01/2002 Fac / 12/01/2002 Auto
2
(000)0000-00-00
AMENDMENT 21
EFFECTIVE JUNE 1, 2005
TO THE
AUTOMATIC AND FACULTATIVE YEARLY RENEWABLE TERM REINSURANCE AGREEMENT
EFFECTIVE NOVEMBER 1, 2002 FOR FACULTATIVE BUSINESS
EFFECTIVE DECEMBER 1, 2002 FOR AUTOMATIC BUSINESS
BETWEEN
HARTFORD LIFE INSURANCE COMPANY ("CEDING COMPANY")
AND
RGA REINSURANCE COMPANY ("REINSURER")
("AGREEMENT")
RECITALS
WHEREAS, the Reinsurer currently reinsures the Ceding Company's plans or
policies under the Agreement; and
WHEREAS, the Ceding Company and the Reinsurer wish to amend the Agreement, to
document the Ceding Company's ability to offer coverage at a risk class more
favorable than the True Assessed Risk Class, for policies issued on or after
June 1, 2005.
NOW, THEREFORE for good and valuable consideration, receipt of which is hereby
acknowledged, the Ceding Company and the Reinsurer hereby agree as follows:
1. The above recitals are true and accurate and are incorporated
herein.
2. Article II is deleted in its entirety and replaced with the attached
Article II..
3. Except as herein amended, all other terms and conditions of the
Agreement shall remain unchanged.
In witness of the foregoing, the Ceding Company and the Reinsurer have, by their
respective officers, hereby executed this Amendment in duplicate on the dates
indicated below, with an effective date of June 1, 2005.
Single Life Excess Treaty -- Effective 11/01/2002
Between HLIC and RGA
Amendment 21 - Effective 6/01/2005
1
(000)0000-00-00
RGA REINSURANCE COMPANY
By: /s/ Xxxxx X. Xxxxxx Attest: /s/ Xxxxxxxx Xxxxxx
------------------------------ ------------------------------
Name: Xxxxx X. Xxxxxx Name: Xxxxxxxx Xxxxxx
Title: Vice President & Actuary Title: Vice President & ACTUARY
Date: 2/14/2011 Date: 2/14/2011
HARTFORD LIFE INSURANCE COMPANY
By: /s/ Xxxxxxx Xxxxxxxxx Attest: /s/ Xxxxxxx Xxxxxx
------------------------------ ------------------------------
Name: Xxxxxxx Xxxxxxxxx, FSA, MAAA Name: Xxxxxxx Xxxxxx, FSA, MAAA
Title: Asst. Vice President and Title: Senior Vice President
Actuary Individual Life Individual Life Product
Product Management Management
Date: 3/3/2011 Date: 3/3/2011
Single Life Excess Treaty -- Effective 11/01/2002
Between HLIC and RGA
Amendment 21 - Effective 6/01/2005
2
(000)0000-00-00
ARTICLE II
REINSURANCE COVERAGE
Reinsurance under this Agreement will apply to insurance issued by the Ceding
Company on the Plans of Insurance shown in Schedule A. Such Plans of Insurance
shall be reinsured with the Reinsurer on an automatic basis, subject to the
requirements set forth in Section A below, or on a facultative basis, subject to
the requirements set forth in Section B below, or on a facultative obligatory
basis, subject to the requirements set forth in Section C below. The
specifications for all reinsurance under this Agreement are provided in Schedule
B.
A. Requirements for Automatic Reinsurance
For risks which meet the requirement for Automatic Reinsurance as set forth
below, the Reinsurer will participate in a reinsurance pool whereby the
Reinsurer will automatically reinsure a portion of the insurance risks as
indicated in Schedule B. The requirements for Automatic Reinsurance are as
follows:
1. Each life must be a resident of the United States or Canada at the
time of application with the exception of the Foreign National
Program as specified in Schedule C.
2. The risk must be underwritten according to the Ceding Company's
standard underwriting practices and guidelines or the Ceding
Company's enhanced standard underwriting program.
If the Ceding Company would like to offer coverage at a risk class
more favorable than the True Assessed Risk Class, the Ceding Company
may:
a. Reinsure the risk automatically under this Agreement with the
Reinsurance Premium based on the True Assessed Risk Class; or
b. Seek to reinsure the risk facultatively under this Agreement
at rates more favorable than the True Assessed Risk Class; or
c. Decide not to reinsure the risk under this Agreement
For the purposes of this Agreement, "True Assessed Risk Class"
shall mean the risk class determined by the Ceding Company prior
to any adjustments made as a result of the Ceding Company's
enhanced standard underwriting program.
3. Any risk offered on a facultative basis other than for size by the
Ceding Company to the Reinsurer or any other company will not
qualify for Automatic Reinsurance under this Agreement for the same
risk and same life.
4. The maximum issue age is 90 from the inception of the agreement
until it is amended to age 85 effective February 11, 2008.
Single Life Excess Treaty -- Effective 11/01/2002
Between HLIC and RGA
Amendment 21 - Effective 6/01/2005
3
(000)0000-00-00
[Redacted]
Single Life Excess Treaty -- Effective 11/01/2002
Between HLIC and RGA
Amendment 21 - Effective 6/01/2005
4
(000)0000-00-00
B. Requirements for Facultative Reinsurance
1. If the requirements for Automatic Reinsurance are met, but the
Ceding company prefers to apply for Facultative Reinsurance with the
Reinsurer, or if the requirements for Automatic Reinsurance are not
met and the Ceding Company applies for Facultative Reinsurance with
the Reinsurer, then the Ceding Company must submit to the Reinsurer
all the papers, facsimiles , or sufficient evidence agreed upon
between the Ceding Company and the Reinsurer relating to the
insurability of the individual life for Facultative Reinsurance.
2. For applications for Facultative Reinsurance, the Ceding Company
will send copies of all of the papers or facsimiles relating to the
insurability of each life to the Reinsurer, with the exception of
situations where one life is uninsurable. In those situations, only
the papers or facsimiles on the insurable life will be sent. After
the Reinsurer has examined the request, the Reinsurer will promptly
notify the Ceding Company of the underwriting offer subject to
additional requirements or the final underwriting offer. The final
underwriting offer on the individual risk will automatically
terminate upon the earlier of the withdrawal of the application or
120 days from the date of the final offer, unless coverage is
accepted or put in place earlier.
3. Notwithstanding the above, if the requirements for Automatic
Reinsurance are met except that the face amount of reinsurance
applied for is greater than the Automatic Issue Limit, but does not
exceed the Automatic Processing Limit, then the Ceding Company will
submit to the Lead Reinsurer (as designated in Schedule B) all
papers relating to the insurability of the individual risk. The Lead
Reinsurer shall review the papers to determine if the risk should be
reinsured by the pool, and, if so, on what basis. The Lead Reinsurer
shall provide the Ceding Company with a response within 24 hours of
receipt of the papers. Approval of the Lead Reinsurer shall be
binding on all other pool members. This process shall be known as
Automatic Processing and subject to the limitations in Exhibits II.
Single Life Excess Treaty -- Effective 11/01/2002
Between HLIC and RGA
Amendment 21 - Effective 6/01/2005
5
(000)0000-00-00
C. Requirements for Facultative Obligatory Reinsurance
The Reinsurer agrees to a facultative obligatory arrangement whereby the Ceding
Company may cede a risk to the Reinsurer and the Reinsurer agrees to accept the
risk using the Ceding Company's underwriting evaluation, subject to the
following conditions:
1. The requirements for Automatic Reinsurance specified in Article II
must be met with one exception. This exception is that the total
amount of insurance issued and applied for in all companies on each
risk has exceeded the Jumbo Limits set forth in Exhibits II.
2. The arrangement is available on all policy forms covered under this
Reinsurance Agreement.
3. The ceded risk is subject to the Facultative Obligatory Automatic
Binding Limits and the Facultative Obligatory Automatic Issue
Limits, as stated in Exhibits II. However, to the extent that the
Reinsurer has already filled its available capacity on the risk, the
Reinsurer may reduce the provided capacity by notifying the Ceding
Company. In addition, the Reinsurer may choose to provide
Facultative Obligatory capacity greater than as specified in
Schedule B.
4. The Reinsurer will have a reasonable amount of time, but not to
exceed two (2) business days, to respond to the Ceding Company's
request for a Facultative Obligatory risk.
D. Basis of Reinsurance
Reinsurance under this Agreement will be on the basis as stated in Schedule B.
E. Policy Forms
When requested, the Ceding Company will furnish the Reinsurer with a copy of
each policy, rider, rate book, and applicable sales or marketing material that
applies to the life insurance reinsured hereunder.
Single Life Excess Treaty -- Effective 11/01/2002
Between HLIC and RGA
Amendment 21 - Effective 6/01/2005
6
(000) 0000-00-00
AMENDMENT 22
EFFECTIVE OCTOBER 1, 2008
TO THE
AUTOMATIC AND FACULTATIVE YEARLY RENEWABLE TERM REINSURANCE AGREEMENT
EFFECTIVE NOVEMBER 1, 2002 FOR FACULTATIVE BUSINESS
EFFECTIVE DECEMBER 1, 2002 FOR AUTOMATIC BUSINESS
BETWEEN
HARTFORD LIFE INSURANCE COMPANY
("CEDING COMPANY")
AND
RGA REINSURANCE COMPANY
("REINSURER")
("AGREEMENT")
WHEREAS, Xxxxxxxxx currently reinsures the Ceding Company's plans or policies
under the Agreement; and
WHEREAS, the Ceding Company and the Reinsurer have revised Schedule A on
multiple dates since the effective dates of the Agreement; and
WHEREAS, the parties wish to reflect an updated Schedule A; and
WHEREAS, the parties wish to present revised versions of Schedule A Foreign
Travel Exclusion Rider -- Exhibit I Underwriting Guidelines and Schedule A
Foreign Travel Exclusion Rider -- Exhibit II List of Countries and
Jurisdictions, with no change in terms or effective dates.
NOW, THEREFORE, for good and valuable consideration, receipt of which is hereby
acknowledged, the Ceding Company and the Reinsurer hereby agree as follows:
I. The above recitals are true and accurate and are incorporated
herein.
II. Schedule A is deleted in its entirety and replaced with the
attached, revised Schedule A.
III. Except as herein amended, all other terms and conditions of the
Agreement shall remain in full force and effect and unchanged.
Single Life Excess Treaty -- Effective 11/01/2002 Fac 12/01/2002 Auto
Between HL and RGA
Amendment #22 - Effective 10/1/2008
(000) 0000-00-00
In witness of the foregoing, the Ceding Company and the Reinsurer have, by their
respective officers, executed this Amendment in duplicate on the dates indicated
below.
RGA REINSURANCE COMPANY
By: /s/ Xxxxx X. Xxxxxx Attest: /s/ Xxxxxxx X. Xxxxxxxxx
------------------------------ ------------------------------
Name: Xxxxx X. Xxxxxx Name: Xxxxxxx X. Xxxxxxxxx
Title: Vice President & Actuary Title: Vice President & Actuary
Date: 12/14/2011 Date: 12/14/2011
HARTFORD LIFE INSURANCE COMPANY
By: /s/ Xxxx Xxxxxxx Attest: /s/ Xxxxxxx Xxxxxx
------------------------------ ------------------------------
Name: Xxxx Xxxxxxx, FSA, MAAA Name: Xxxxxxx Xxxxxx, FSA, MAAA
Title: Assistant Vice President and Title: Senior Vice President
Actuary Individual Life Product
Individual Life Product Management
Management
Date: 12/21/2011 Date: 12/21/2011
Single Life Excess Treaty -- Effective 11/01/2002 Fac 12/01/2002 Auto
Between HL and RGA
Amendment #22 - Effective 10/1/2008
(000) 0000-00-00
SCHEDULE A
PLANS COVERED UNDER THIS AGREEMENT
EFFECTIVE OCTOBER 1, 2008
TYPE OF BUSINESS Individual life insurance issued by
Ceding Company
UPSCALE PRODUCTS RIDERS FOR UPSCALE PRODUCTS
--------------------------------------------------------------------------------------------------------------------------
Stag Protector Variable Universal Life* Other Covered Insured Rider*
Stag Variable Life Accumulator* Term Rider (base or other insured)*
Stag Universal Life* Accidental Death Benefit Rider*+
SPVL (Fully underwritten only)* Deduction Amount Waiver Rider*
ART (CW), 5 & 10 Year Term (NY)* Waiver of Monthly Deduction Rider*
One Year Term* Waiver of Specified Amount Rider*
Stag Whole Life* Enhanced No Lapse Guarantee Rider*+
Stag Protector Variable Universal Life II Estate Tax Repeal Benefit Rider*+
(eff. December 1, 2003) Level Compensation Endorsement*+
Stag Variable Life Accumulator II Children's Life Insurance Rider *+
(eff. December 1, 2003) Maturity Date Extension Rider*+
Stag Universal Life Cash Value Guaranteed COI Benefit Rider*+
(eff. July 1, 2005) Mortality and Expense Risk Rates Rider*+
Leaders VUL Legacy (eff. May 1, 2008) Cost of Living Adjustment Rider*
Leaders VUL Liberty (eff. May 1, 2008) Foreign Travel Exclusion Rider (eff. November 1, 2002
(fac.);
Bicentennial UL Founders (eff. October 1, 2008) December 1, 2002 (auto)+
Policy Continuation Rider (eff. December 1, 2003)+
Conversion Option Rider (eff. October 2, 2006)+
Guaranteed Issue Option Rider (eff. October 2, 20O6)+
Liquidity Enhancement Rider (eff. October 2, 2006)+
Overloan Protection Rider (eff. May 1, 2008)+
Accelerated Death Benefit Rider (eff. January 1, 2004)+
Guaranteed Minimum Accumulation Benefit Rider
(eff. October 1, 2008)+
Paid-Up Life Insurance Rider (eff. October 1, 2008)+
MIDDLE AMERICA PRODUCTS RIDERS FOR MIDDLE AMERICA PRODUCTS
--------------------------------------------------------------------------------------------------------------------------
LBSI UL* Term Rider (base or other insured)*
Life Solutions I UL* Waiver of Premium Rider*
Life Solutions II UL* Waiver of Monthly Deductions Rider*
20 Year Term* Additional Purchase Option Rider*+
Life Solutions II UL (2001 CSO version) Disability Income Rider*+
(eff. October 1, 2008)
WOODBURY PRODUCTS RIDERS FOR WOODBURY PRODUCTS
--------------------------------------------------------------------------------------------------------------------------
Hartford Stag Wall Street Variable Universal Life* Term Rider (base or other insured)*
Accidental Death Benefit Rider (not reinsured)*+
Waiver of Monthly Deductions Rider*
Waiver of Specified Amount Rider*
Children's Life Insurance Rider*+
Accelerated Death Benefit Rider*+
Specify Monthly Deductions Rider*+
Enhanced No Lapse Guarantee Rider*+
------------
* Effective November 1, 2002 (fac.), December 1, 2002 (auto), in treaty
+ The benefit provided by this Rider is not reinsured under this Agreement.
Single Life Excess Treaty -- Effective 11/01/2002 Fac 12/01/2002 Auto
Between HL and RGA
Amendment #22 - Effective 10/1/2008
1
(000) 0000-00-00
SCHEDULE A
PLANS COVERED UNDER THIS AGREEMENT
EFFECTIVE OCTOBER 1, 2008
DESCRIPTIONS
RIDERS FOR WHICH ADDITIONAL PREMIUM IS DUE TO THE REINSURER:
Other Covered Insured Rider: Provides term coverage for insured other than base
insured.
Term Rider (base or other insured): Provides additional term coverage.
Deduction Amount Waiver Rider: Waives monthly deduction amount if insured is
disabled.
Waiver of Monthly Deductions Rider: Waives monthly deduction amount if insured
is disabled.
Waiver of Specified Amount Rider: Waives specified amount if insured is
disabled.
Waiver of Premium Rider: Waives premium requirement if insured is disabled.
Cost of Living Adjustment Rider: This rider is available at issue only for
nonsubstandard issue ages 0 to 60. The rider allows for face amount increases
without underwriting biannually based on the Consumer Price Index with the
maximum amount of this increase being $50,000.
RIDERS THAT ALTER THE POLICY AND FOR WHICH NO ADDITIONAL PREMIUM IS PAID TO THE
REINSURER. IF A POLICY HAS THIS RIDER IT IS STILL COVERED UNDER THE AGREEMENT:
Accidental Death Benefit Rider: Pays an additional death benefit if the death on
the insured is caused by a qualifying accident.
Additional Purchase Option Rider: Provides additional term coverage.
Children's Life Insurance Rider: Provides additional term coverage for a child.
No separate reinsurance benefits are associated with this rider.
Disability Income Rider: Provides a monthly benefit while the insured is totally
and continuously disabled. The disability must continue for a period of time
which exceeds the waiting period before payments begin. Payments will continue
while the insured is totally disabled, but not longer than the indemnity period
selected. Total disability is defined as inability, due to injury occurring or
illness first appearing after the policy date, to engage in any occupation for
wage or profit for which the insured is reasonably qualified by education,
training, or prior experience.
Enhanced No Lapse Guarantee Rider: This rider guarantees that the policy will
not lapse, regardless of investment performance, provided cumulative premiums
paid less indebtedness less withdrawals are greater than or equal to the
cumulative no lapse guarantee premiums. There is a lifetime option and a limited
term option. The limited term option is the lesser of 20 years or to attained
age 80 for issue ages 0 to 70 and the minimum of 10 years or to attained age 90
for issue ages 71 to 85. Also, at the time when the no lapse guarantee
terminates or defaults, the policyholder may be eligible for an additional
amount of time they have this protection, which is based on the then current
account value.
Single Life Excess Treaty -- Effective 11/01/2002 Fac 12/01/2002 Auto
Between HL and RGA
Amendment #22 - Effective 10/1/2008
2
(000) 0000-00-00
SCHEDULE A
PLANS COVERED UNDER THIS AGREEMENT
EFFECTIVE OCTOBER 1, 2008
Estate Tax Repeal Benefit Rider: (eff. 11/1/2002 (fac), 12/1/2002 (auto) This
rider will pay the account value less indebtedness if the Federal Estate Tax Law
is fully repealed by December 31, 2010 and we receive a request for this benefit
amount from the insured. (eff 5/1/2008) This rider is automatically added to
each policy at issue, and allows for policy surrender without the assessment of
surrender charges, providing the following conditions are met:
- There is no federal estate tax in effect during the year 2011; and
- The surrender request is received during the month of January 2011.
This rider will terminate at the sooner of:
- The termination date of the policy, or
- January 31, 2011.
Level Compensation Endorsement: Surrender charges are not assessed for a full
surrender during the first three policy years. There is no charge for this
rider.
Maturity Date Extension Rider: When the policyholder reaches the maturity date
and has elected this rider, the death benefit is dropped to the account value,
no more monthly deductions are taken, interest is credited, no further premiums
are accepted, policy loans continue to accrue interest, and all other riders are
terminated.
Guaranteed COI Benefit Rider: This rider provides guaranteed cost of insurance
rates for the first 10 policy years. On each policy anniversary, we declare a
cost of insurance rate for a single policy year. This policy year is the policy
year 9 years from the then current policy anniversary. Thus the rider provides
that on any policy anniversary, cost of insurance rates over the next 10 years
will not exceed those provided by the rider. This rider is currently available
in only a few states and on variable life policy forms where the face amount is
at least thirty million dollars.
Accelerated Death Benefit Rider: With this rider, the policyholder can receive
up to 100% of their death benefit discounted with interest if the life
expectancy is 12 months or less.
Specify Monthly Deductions Rider: This rider allows the policyholder to specify
to take monthly deductions out of a particular account in the policy.
Mortality and Expense Risk Rates Rider: This rider guarantees that the mortality
and expense risk rate will be zero for years greater than and equal to 21.
Policy Continuation Rider: This rider is automatically added to the policy at
issue. This rider is intended to prevent the lapse of highly loaned policies.
Foreign Travel Exclusion Rider: The rider is written such that if the insured
dies while traveling to, from, or in a country NOT listed on the List of
Countries and Jurisdictions (Schedule A Foreign Travel Exclusion Rider --
Exhibit II), or dies as a direct or indirect result of an illness or injury
sustained during such travel, the death benefit proceeds will be limited to the
policy's account value, less any outstanding indebtedness.
Single Life Excess Treaty -- Effective 11/01/2002 Fac 12/01/2002 Auto
Between HL and RGA
Amendment #22 - Effective 10/1/2008
3
(000) 0000-00-00
SCHEDULE A
PLANS COVERED UNDER THIS AGREEMENT
EFFECTIVE OCTOBER 1, 2008
Conversion Option Rider: During certain policy years prior to the insured's
attained age 70, the policy may be converted, without evidence of insurability,
to any permanent plan of life insurance the Ceding Company then makes available
for conversions of this policy.
Guaranteed Issue Option ("GIO") Rider: This rider allows the policyholder to
increase the face amount of converted Stag Whole Life policies being converted
via the Conversion Option Rider by up to twice their original face amount.
Liquidity Enhancement Rider: This rider shortens the surrender charge period on
Stag Whole Life policies from 9 to 7 years. This rider results in policies'
credited interest rate and commissions being reduced.
Overloan Protection Rider: This rider is automatically added to the policy at
issue. This rider protects a policy from lapsing due to overloan.
Guaranteed Minimum Accumulation Benefit (GMAB) Rider: This rider provides that
at the end of the GMAB Guarantee Period (usually 20 years), the policy account
value will be increased, if necessary, to equal the sum of gross premiums paid
to that date. There is a small monthly charge to the policyholder, and a minimum
cumulative premium requirement to keep the rider in force.
Paid-Up Life Insurance Rider: This rider is similar to GMAB rider with the same
Guarantee Period, a monthly charge, and a cumulative premium requirement. This
rider provides that at the end of the Guarantee Period, policyholder may elect
to change coverage to paid-up life insurance using account value as a 5% Net
Single Premium to determine amount of coverage; however, amount of coverage will
never be lower than the sum of gross premiums paid to that date. Once elected,
premiums are no longer accepted.
Single Life Excess Treaty -- Effective 11/01/2002 Fac 12/01/2002 Auto
Between HL and RGA
Amendment #22 - Effective 10/1/2008
4
(000) 0000-00-00
SCHEDULE A
FOREIGN TRAVEL EXCLUSION RIDER -- EXHIBIT I
UNDERWRITING GUIDELINES
EFFECTIVE OCTOBER 1, 2008
Single Life Excess Treaty -- Effective 11/01/2002 Fac 12/01/2002 Auto
Between HL and RGA
Amendment #22 - Effective 10/1/2008
5
(000) 0000-00-00
SCHEDULE A
FOREIGN TRAVEL EXCLUSION RIDER -- EXHIBIT II
LIST OF COUNTRIES AND JURISDICTIONS
EFFECTIVE OCTOBER 1, 2008
LIST OF COUNTRIES AND JURISDICTIONS NOT LIMITED FOR TRAVEL UNDER THE FOREIGN
TRAVEL EXCLUSION RIDER
Single Life Excess Treaty -- Effective 11/01/2002 Fac 12/01/2002 Auto
Between HL and RGA
Amendment #22 - Effective 10/1/2008
6
