AMENDMENT
to the Risk Premium Reinsurance Agreement between the
CENTURY LIFE OF AMERICA of Waverly, Iowa,
hereinafter referred to as the "REINSURED,"
and
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY of Fort Xxxxx, Indiana,
hereinafter referred to as the "LINCOLN," effective September 1, 1983.
1. It is hereby agreed that the Revision No. 5 effective the first day of
February, 1986, to the above-mentioned reinsurance agreement shall be rescinded
2. The REINSURED'S plans to be reinsured under the above-mentioned
reinsurance agreement on and after the first day of February, 1986, shall be
those specified in the Appendix I attached hereto.
3. The reinsurance percentages for the REINSURED'S cost of insurance rates
shall be as described in Schedule D, Part V, attached hereto, and shall apply to
reinsurance of the REINSURED'S Variable Universal Life plan ceded under the
above-mentioned reinsurance agreement on and after the first day of February,
1986, but in no event shall such percentages apply to amounts of reinsurance in
excess of $5,000,000 on any one life ceded by the REINSURED to the LINCOLN.
4. On and after the first day of February, 1986, the premium rates labeled
"F5H3, NONSMOKERS," "H3, SMOKERS," and "H4, SUB-STANDARD," under the Risk
Premium Reinsurance Agreement between the REINSURED and the LINCOLN, effective
January 1, 1982, shall be applied to reinsurance in excess of $5,000,000 per
life. Such reinsurance shall not be so terminated as described in the "INCREASE
IN LIMIT OF RETENTION" article thereof until it has been in force for at least
five years.
Revision No. 8
It is expressly understood and agreed that the provisions of this amendment
shall be subject to all the terms and conditions of the reinsurance agreement of
which this amendment is a part which do not conflict with the terms hereof.
IN WITNESS WHEREOF the parties hereto have caused this amendment to be
executed in duplicate on the dates shown below.
CENTURY LIFE OF AMERICA
By /s/ Xxxxxx X. Xxxxxxx By /s/ Xxxxx X. Xxxxxxxx
---------------------------- -----------------------------------
V.P. & Actuary Vice President - Legal and
Assistant Secretary
Date 8/1/86 Date 8/1/86
-------------------------- ---------------------------------
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY
By /s/ Xxxx X. XxXxxxxxx By /s/ Xxxxx Xxxxxxx
---------------------------- -----------------------------------
Vice President Assistant Secretary
Date 8/14/86 Date 8.12.86
-------------------------- ---------------------------------
APPENDIX I
Insurance Subject to Reinsurance under this Agreement
A. 100% of the REINSURED'S entire excess of its issues of the following plans
bearing register dates in the range shown below to insureds having surnames
beginning with the letters of the alphabet shown below.
Reinsurance Dates Letters
Plan Renewal Basis from through from through
---- ------------- ---- ------- ---- -------
Universal Life Plan 20 Years 9-1-83 -- A K
Univers-All Life II 20 Years 5-1-84 -- A K
Univers-AII-III (Form 2222) 10 Years 1-1-86 -- A K
Variable Universal Life (Form 2221 0985) 10 Years 2-1-86 -- A K
Other Insured Rider 10 Years 2-1-86 -- A K*
Automatic Increase Rdier 10 Years 2-1-86 -- A K
B. Continuations of the REINSURED'S issues to any of the plans listed above,
provided the original policy was reinsured with the LINCOLN under this or
another reinsurance agreement.
*Other Insured Rider issues shall be based on the primary insured's surname.
SCHEDULE D, PART V
(Effective February 1, 1986)
Reinsurance Premium Rates
Variable Universal Life (Form 2221 0985)
The reinsurance premium for the first $5,000,000 of reinsurance on any one life
shall be the attached cost of insurance rates charged the insured per thousand
of the net amount at risk times the following percentages of the cost of
insurance charged the insured:
Policy Year
Smoking Status Issue Age 1 2-10 11+
-------------- --------- - ---- ---
Nonsmoker 0-49 0% 80% 90%
50+ 0 70 70
Smoker 0-49 0 94 94
50+ 0 84 90
Substandard Risks
-----------------
The substandard table-extra reinsurance premium shall be the number of tables
assessed the risk times 25% of the attached appropriate standard rates times the
following percentages:
Policy Year
Smoking Status Issue Age 1 2-10 11+
-------------- --------- - ---- ---
Nonsmoker 0-49 0% 80% 90%
50+ 0 70 70
Smoker 0-49 0 94 94
50+ 0 84 90
Waiver of Premium Disability, Payor Benefits and Accidental Death Benefits
--------------------------------------------------------------------------
The premium which the REINSURED charges the insured on the amount reinsured less
total allowances of 75% first year and 10% in renewal years.
CENTURY LIFE OF AMERICA
FLEXIBLE PREMIUM VARIABLE LIFE (FORM $2221) COST OF INSURANCE RATES
ANNUAL RATES PER $1000
MALE FEMALE
===================================== =====================================
ATT -------CURRENT-------- -------CURRENT-------- ATT
AGE GUARANTEED STANDARD NONSMOKER GUARANTEED STANDARD NONSMOKER AGE
0 4.43 1.70 3.94 1.58 0
1 1.64 1.64 1.54 1.54 1
2 1.49 1.49 1.38 1.38 2
3 1.43 1.43 1.32 1.32 3
4 1.37 1.37 1.27 1.27 4
5 1.33 1.33 1.22 1.22 5
6 1.28 1.28 1.17 1.17 6
7 1.25 1.25 1.14 1.14 7
8 1.22 1.22 1.12 1.10 8
9 1.21 1.20 1.11 1.06 9
10 1.22 1.20 1.12 1.03 10
11 1.25 1.20 1.13 1.01 11
12 1.29 1.21 1.15 .99 12
13 1.36 1.23 1.19 .97 13
14 1.43 1.26 1.24 .96 14
15 1.50 1.30 1.29 .95 15
16 1.58 1.34 1.36 .95 16
17 1.65 1.37 1.43 .96 17
18 1.72 1.37 1.50 .97 18
19 1.76 1.37 1.58 .98 19
20 1.81 1.37 1.37 1.65 1.00 1.00 20
21 1.84 1.37 1.37 1.72 1.01 1.01 21
22 1.87 1.37 1.37 1.76 1.03 1.03 22
23 1.90 1.37 1.37 1.81 1.05 1.05 23
24 1.92 1.37 1.37 1.84 1.07 1.07 24
25 1.95 1.39 1.37 1.87 1.11 1.10 25
26 1.98 1.45 1.38 1.90 1.15 1.13 26
27 2.01 1.54 1.40 1.92 1.24 1.20 27
28 2.05 1.64 1.43 1.95 1.33 1.28 28
29 2.10 1.75 1.47 1.98 1.43 1.36 29
30 2.16 1.86 1.53 2.01 1.53 1.42 30
31 2.22 1.97 1.59 2.05 1.62 1.47 31
32 2.29 2.08 1.65 2.10 1.72 1.53 32
33 2.36 2.19 1.71 2.16 1.81 1.58 33
34 2.45 2.30 1.77 2.22 1.92 1.64 34
35 2.58 2.41 1.83 2.29 2.03 1.69 35
36 2.72 2.52 1.89 2.36 2.14 1.75 36
37 2.90 2.63 1.95 2.45 2.25 1.81 37
38 3.13 2.74 2.01 2.58 2.38 1.86 38
39 3.39 2.88 2.07 2.72 2.52 1.92 39
40 3.68 3.10 2.19 2.90 2.70 2.03 40
41 4.00 3.39 2.35 3.13 2.92 2.18 41
42 4.35 3.74 2.56 3.39 3.18 2.37 42
43 4.72 4.13 2.79 3.68 3.46 2.58 43
44 5.13 4.56 3.04 4.00 3.74 2.81 44
45 5.59 4.99 3.29 4.35 4.00 3.05 45
46 6.09 5.44 3.54 4.72 4.24 3.28 46
47 6.65 5.92 3.80 5.13 4.46 3.51 47
48 7.27 6.42 4.08 5.59 4.67 3.65 48
49 7.96 6.93 4.37 6.09 4.90 3.80 49
CENTURY LIFE OF AMERICA
FLEXIBLE PREMIUM VARIABLE LIFE (FORM $2221) COST OF INSURANCE RATES
ANNUAL RATES PER $1000
MALE FEMALE
===================================== =====================================
ATT -------CURRENT-------- -------CURRENT-------- ATT
AGE GUARANTEED STANDARD NONSMOKER GUARANTEED STANDARD NONSMOKER AGE
50 8.71 7.46 4.68 6.65 5.15 3.97 50
51 9.53 7.97 4.97 7.27 5.41 4.15 51
52 10.42 8.47 5.24 7.96 5.66 4.35 52
53 11.39 8.99 5.54 8.71 5.93 4.57 53
54 12.45 9.60 5.84 9.53 6.25 4.80 54
55 13.60 10.34 6.21 10.42 6.65 5.06 55
56 14.87 11.20 6.88 11.39 7.13 5.33 56
57 16.26 12.16 7.64 12.45 7.67 5.61 57
58 17.79 13.21 8.47 13.60 8.27 5.91 58
59 19.46 14.38 9.40 14.87 8.90 6.27 59
60 21.28 15.65 10.43 16.26 9.56 6.70 60
61 23.26 17.00 11.58 17.79 10.23 7.20 61
62 25.43 18.44 12.33 19.46 10.91 7.76 62
63 27.79 19.99 14.24 21.28 11.64 8.37 63
64 30.38 21.72 15.79 23.26 12.42 9.06 64
65 33.22 23.66 17.53 25.43 13.27 9.83 65
66 36.36 25.78 19.38 27.79 14.15 10.64 66
67 39.82 28.09 21.44 30.38 15.03 11.46 67
68 43.60 30.61 23.74 33.22 15.98 12.39 68
69 47.65 33.33 26.27 36.36 17.10 13.46 69
70 51.91 36.32 29.05 39.82 18.49 14.79 70
71 56.34 39.50 32.13 43.60 19.95 16.22 71
72 60.89 42.96 35.54 47.65 21.48 17.77 72
73 65.61 46.75 39.26 51.91 23.24 19.52 73
74 70.65 50.82 43.41 56.34 25.33 21.66 74
75 76.16 55.24 48.02 60.89 27.39 24.26 75
76 82.31 60.41 53.00 65.61 31.02 27.23 76
77 89.22 66.06 58.50 70.65 34.47 30.53 77
78 96.93 72.31 64.50 76.16 38.38 34.27 78
79 105.35 79.07 71.19 82.31 42.78 38.54 79
80 114.39 86.45 73.57 89.22 47.80 43.47 80
81 i23.95 94.79 86.63 96.93 53.51 48.88 81
82 133.92 103.92 95.51 105.35 59.56 54.78 82
83 144.30 113.82 105.19 114.39 66.32 61.26 83
84 155.12 124.77 115.99 123.95 73.84 68.67 84
85 166.47 136.79 127.88 133.92 82.46 77.03 85
86 178.39 149.87 140.65 144.30 92.19 86.45 86
87 191.02 164.05 154.40 155.12 102.86 96.83 87
88 204.57 177.89 168.24 166.47 114.34 108.05 88
89 219.37 189.83 180.04 178.39 126.83 120.31 89
90 235.82 199.58 190.02 191.02 140.11 133.42 90
91 254.44 208.02 199.21 204.57 150.06 143.72 91
92 275.82 218.45 210.41 219.37 162.12 156.18 92
93 300.67 234.58 227.28 235.82 178.63 173.08 93
94 330.70 254.33 247.85 254.44 198.95 193.91 94
