Amendment #1
to the
AUTOMATIC AND FACULTATIVE
YEARLY RENEWABLE TERM REINSURANCE AGREEMENT
EFFECTIVE January 1, 2000
Between
PRUCO LIFE INSURANCE COMPANY OF NEW JERSEY
(THE COMPANY)
And
MUNICH AMERICAN REASSURANCE COMPANY
(THE REINSURER)
The parties hereby agree to the following:
1. SCHEDULE A, Section 4, AUTOMATIC ACCEPTANCE LIMIT, shall be replaced by the following:
AUTOMATIC ACCEPTANCE LIMIT:
For any policy to be reinsured under automatic reinsurance, the face amount will not exceed the Automatic Issue
Limits shown in the following tables:
US/Canadian Residents - No Foreign Travel - Non-Smoker
====================================================================================
Rating Class of Higher Rated Life
=========================== ====================================================================================
=========================== ========================= ============================= ============================
Issue Age of Older No Substandard Rating Class A - D Class E - H
Insured
--------------------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
Ages: 18 - 65 $ 70,000,000 $ 70,000,000 $ 57,000,000
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
66 - 70 $ 67,000,000 $ 54,000,000 $ 32,000,000
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
71 - 75 $ 44,000,000 $ 37,000,000 $ 22,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
76 - 77 $ 27,000,000 $ 22,000,000 $ 15,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
78 - 80 $ 27,000,000 $ 22,000,000 $ 15,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
81 - 85 $ 14,000,000 $ 12,000,000 $ 7,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
86 - 90 $ 7,000,000 $ 6,000,000 $ 3,800,000
=========== =============== ========================= ============================= ============================
US/Canadian Residents - No Foreign Travel - One Smoker
====================================================================================
Rating Class of Higher Rated Life
=========================== ------------------------------------------------------------------------------------
=========================== ========================= ============================= ============================
Issue Age of Older No Substandard Rating Class A - D Class E - H
Insured
--------------------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
Ages: 18 - 65 $ 70,000,000 $ 65,000,000 $ 49,000,000
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
66 - 70 $ 57,000,000 $ 52,000,000 $ 29,000,000
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
71 - 75 $ 39,000,000 $ 36,000,000 $ 22,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
76 - 77 $ 25,000,000 $ 22,000,000 $ 15,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
78 - 80 $ 25,000,000 $ 22,000,000 $ 15,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
81 - 85 $ 13,000,000 $ 11,000,000 $ 7,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
86 - 90 $ 6,000,000 $ 5,000,000 $ 2,800,000
=========== =============== ========================= ============================= ============================
US/Canadian Residents - No Foreign Travel - Two Smokers
====================================================================================
Rating Class of Higher Rated Life
=========================== ------------------------------------------------------------------------------------
=========================== ========================= ============================= ============================
Issue Age of Older No Substandard Rating Class A - D Class E - H
Insured
--------------------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
Ages: 18 - 65 $ 65,000,000 $ 60,000,000 $ 47,000,000
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
66 - 70 $ 52,000,000 $ 47,000,000 $ 28,000,000
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
71 - 75 $ 35,000,000 $ 34,000,000 $ 22,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
76 - 77 $ 22,000,000 $ 22,000,000 $ 14,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
78 - 80 $ 22,000,000 $ 22,000,000 $ 14,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
81 - 85 $ 11,000,000 $ 10,000,000 $ 6,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
86 - 90 $ 5,000,000 $ 4,000,000 $ 2,800,000
=========== =============== ========================= ============================= ============================
If both lives exceed Class H, there will be no automatic limit.
If one life is ratable over Class H, then the following individual policy limits for the lesser impaired life's
mortality classification apply:
US/Canadian Residents - No Foreign Travel - Non-Smoker
====================================================================================
Rating Class of Less Impaired Insured
=========================== ====================================================================================
=========================== ========================= ============================= ============================
Issue Age of Older No Substandard Rating Class A - D Class E - H
Insured
--------------------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
Ages: 18 - 65 $ 44,000,000 $ 44,000,000 $ 36,000,000
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
66 - 70 $ 31,000,000 $ 31,000,000 $ 25,000,000
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
71 - 75 $ 21,000,000 $ 21,000,000 $ 16,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
76 - 77 $ 13,000,000 $ 13,000,000 $ 9,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
78 - 80 $ 9,000,000 $ 9,000,000 $ 7,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
81 - 85 $ 5,000,000 $ 5,000,000 None
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
86 - 90 $ 2,800,000 $ 2,800,000 None
=========== =============== ========================= ============================= ============================
US/Canadian Residents - No Foreign Travel - One Smoker
====================================================================================
Rating Class of Less Impaired Insured
=========================== ------------------------------------------------------------------------------------
=========================== ========================= ============================= ============================
Issue Age of Older No Substandard Rating Class A - D Class E - H
Insured
--------------------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
Ages: 18 - 65 $ 38,000,000 $ 38,000,000 $ 30,000,000
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
66 - 70 $ 28,000,000 $ 28,000,000 $ 22,000,000
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
71 - 75 $ 21,000,000 $ 21,000,000 $ 14,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
76 - 77 $ 12,000,000 $ 12,000,000 $ 8,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
78 - 80 $ 8,000,000 $ 8,000,000 $ 6,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
81 - 85 $ 5,000,000 $ 5,000,000 None
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
86 - 90 $ 1,800,000 $ 1,800,000 None
=========== =============== ========================= ============================= ============================
US/Canadian Residents - No Foreign Travel - Two Smokers
====================================================================================
Rating Class of Less Impaired Insured
=========================== ------------------------------------------------------------------------------------
=========================== ========================= ============================= ============================
Issue Age of Older No Substandard Rating Class A - D Class E - H
Insured
--------------------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
Ages: 18 - 65 $ 34,000,000 $ 34,000,000 $ 26,000,000
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
66 - 70 $ 27,000,000 $ 27,000,000 $ 20,000,000
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
71 - 75 $ 21,000,000 $ 21,000,000 $ 13,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
76 - 77 $ 12,000,000 $ 12,000,000 $ 8,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
78 - 80 $ 8,000,000 $ 8,000,000 $ 6,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
81 - 85 $ 5,000,000 $ 5,000,000 None
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
86 - 90 $ 1,800,000 $ 1,800,000 None
=========== =============== ========================= ============================= ============================
US/Canadian Residents - Foreign Travel
====================================================================================
Rating Class of Higher Rated Life
=========================== ------------------------------------------------------------------------------------
=========================== ========================= ============================= ============================
Pref. Best - Class C Class D - E Greater than Class E
--------------------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
Ages: 18 - 70 $ 10,000,000 $ 7,500,000 None
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
71 - 75 $ 7,500,000 $ 5,000,000 None
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
00 - 00 Xxxx Xxxx Xxxx
=========== =============== ========================= ============================= ============================
Non US/Canadian Residents
====================================================================================
Rating Class of Higher Rated Life
=========================== ------------------------------------------------------------------------------------
=========================== ========================= ============================= ============================
Pref. Best - Class C Class D - E Greater than Class E
--------------------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
Ages: 18 - 70 $ 20,000,000 $ 15,000,000 None
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
71 - 75 $ 15,000,000 $ 10,000,000 None
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
00 - 00 Xxxx Xxxx Xxxx
=========== =============== ========================= ============================= ============================
For any policy to be reinsured under automatic reinsurance, the amounts subject to reinsurance are the First
Layer of Coverage amounts shown in the following tables:
US/Canadian Residents - No Foreign Travel
=======================================================
Rating Class of Higher Rated Life
=========================== -------------------------------------------------------
=========================== ========================= =============================
Issue Age of Older Pref. Best - Class D Class E - H
Insured
--------------------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
Ages: 18 - 65 $ 50,000,000 $ 40,000,000
--------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
66 - 70 $ 40,000,000 $ 20,000,000
--------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
71 - 75 $ 30,000,000 $ 15,000,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
76 - 80 $ 15,000,000 $ 10,000,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
81 - 85 $ 5,000,000 $ 2,500,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
86 - 90 $ 2,500,000 $ 1,000,000
=========== =============== ========================= =============================
If both lives exceed Class H, there will be no automatic acceptance limit.
If one life is ratable over Class H, then the following individual policy limits for the lesser impaired life's
mortality classification apply:
=======================================================
Rating Class of Lesser Impaired Insured
=========================== -------------------------------------------------------
=========================== ========================= =============================
Issue Age of Lesser Pref. Best - Class D Class E - H
Impaired Life
--------------------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
Ages: 18 - 65 $ 30,000,000 $ 20,000,000
--------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
66 - 70 $ 25,000,000 $ 15,000,000
--------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
71 - 75 $ 20,000,000 $ 10,000,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
76 - 77 $ 10,000,000 $ 5,000,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
78 - 80 $ 5,000,000 $ 2,500,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
81 - 85 $ 2,500,000 None
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
86 - 90 $ 1,000,000 None
=========== =============== ========================= =============================
US/Canadian Residents - Foreign Travel
============================================================
Rating Class of Higher Rated Life
---------------------- ------------------------------------------------------------
====================== ==================== ================= =====================
Issue Age of Insured Pref. Best - Class Class D - E Greater than Class E
C
---------------------- -------------------- ----------------- ---------------------
----------- ---------- -------------------- ----------------- ---------------------
Ages: 18 - 70 $ 10,000,000 $ 7,500,000 None
---------- -------------------- ----------------- ---------------------
----------- ---------- -------------------- ----------------- ---------------------
71 - 75 $ 7,500,000 $ 5,000,000 None
----------- ---------- -------------------- ----------------- ---------------------
----------- ---------- -------------------- ----------------- ---------------------
76 + None None None
=========== ========== ==================== ================= =====================
Non US/Canadian Residents
============================================================
Rating Class of Higher Rated Life
---------------------- ------------------------------------------------------------
====================== ==================== ================= =====================
Issue Age of Insured Pref. Best - Class Class D - E Greater than Class E
C
---------------------- -------------------- ----------------- ---------------------
----------- ---------- -------------------- ----------------- ---------------------
Ages: 18 - 70 $ 20,000,000 $ 15,000,000 None
---------- -------------------- ----------------- ---------------------
----------- ---------- -------------------- ----------------- ---------------------
71 - 75 $ 15,000,000 $ 10,000,000 None
----------- ---------- -------------------- ----------------- ---------------------
----------- ---------- -------------------- ----------------- ---------------------
76 + None None None
=========== ========== ==================== ================= =====================
For any policy to be reinsured under automatic reinsurance, the amounts reinsured with THE REINSURER on that
life will not exceed the amounts in the following tables:
US/Canadian Residents - No Foreign Travel
=======================================================
Rating Class of Higher Rated Life
=========================== -------------------------------------------------------
=========================== ========================= =============================
Issue Age of Older Pref. Best - Class D Class E - H
Insured
--------------------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
Ages: 18 - 65 $ 10,000,000 $ 8,000,000
--------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
66 - 70 $ 8,000,000 $ 4,000,000
--------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
71 - 75 $ 6,000,000 $ 3,000,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
76 - 80 $ 3,000,000 $ 2,000,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
81 - 85 $ 1,000,000 $ 500,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
86 - 90 $ 500,000 $ 200,000
=========== =============== ========================= =============================
If both lives exceed Class H, there will be no automatic acceptance limit.
If one life is ratable over Class H, then the following individual policy limits for the lesser impaired life's
mortality classification apply:
=======================================================
Rating Class of Less Impaired Insured
=========================== -------------------------------------------------------
=========================== ========================= =============================
Issue Age of Lesser Pref. Best - Class D Class E - H
Impaired Life
--------------------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
Ages: 18 - 65 $ 6,000,000 $ 4,000,000
--------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
66 - 70 $ 5,000,000 $ 3,000,000
--------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
71 - 75 $ 4,000,000 $ 2,000,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
76 - 77 $ 2,000,000 $ 1,000,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
78 - 80 $ 1,000,000 $ 500,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
81 - 85 $ 500,000 None
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
86 - 90 $ 200,000 None
=========== =============== ========================= =============================
US/Canadian Residents - Foreign Travel
===========================================================
Rating Class of Higher Rated Life
----------------------- -----------------------------------------------------------
======================= =================== ================== ====================
Issue Age of Insured Pref. Best - Class D - E Greater than Class
Class C E
----------------------- ------------------- ------------------ --------------------
----------- ----------- ------------------- ------------------ --------------------
Ages: 18 - 70 $ 2,000,000 $ 1,500,000 None
----------- ------------------- ------------------ --------------------
----------- ----------- ------------------- ------------------ --------------------
71 - 75 $ 1,500,000 $ 1,000,000 None
----------- ----------- ------------------- ------------------ --------------------
----------- ----------- ------------------- ------------------ --------------------
76 + None None None
=========== =========== =================== ================== ====================
Non US/Canadian Residents
===========================================================
Rating Class of Higher Rated Life
----------------------- -----------------------------------------------------------
======================= =================== ================== ====================
Issue Age of Insured Pref. Best - Class D - E Greater than Class
Class C E
----------------------- ------------------- ------------------ --------------------
----------- ----------- ------------------- ------------------ --------------------
Ages: 18 - 70 $ 4,000,000 $ 3,000,000 None
----------- ------------------- ------------------ --------------------
----------- ----------- ------------------- ------------------ --------------------
71 - 75 $ 3,000,000 $ 2,000,000 None
----------- ----------- ------------------- ------------------ --------------------
----------- ----------- ------------------- ------------------ --------------------
76 + None None None
=========== =========== =================== ================== ====================
2. SCHEDULE A, Section 5, JUMBO LIMIT, shall be replaced by the following:
JUMBO LIMIT:
For any policy to be reinsured under automatic reinsurance, the total amount of insurance in force and applied
for in all companies will not exceed the following amounts:
US/Canadian Residents- No Foreign Travel
===================== ======================== =============== ====================
No Substandard Rating Class A - E Greater than Class
E
===================== ======================== =============== ====================
=========== ========= ======================== =============== ====================
Ages: 18 - 90 $75,000,000 $75,000,000 $75,000,000
=========== ========= ======================== =============== ====================
Note: When a policy is reinsured under automatic reinsurance and the total amount in force and applied for in
all companies exceeds $50,000,000, THE REINSURER must be notified.
US/Canadian Residents - Foreign Travel
===================== ======================== =============== ====================
No Substandard Rating Class A - E Greater than Class
E
===================== ======================== =============== ====================
=========== ========= ======================== =============== ====================
Ages: 18 - 75 $35,000,000 $35,000,000 None
=========== ========= ======================== =============== ====================
=========== ========= ======================== =============== ====================
00 - 00 Xxxx Xxxx Xxxx
=========== ========= ======================== =============== ====================
Non US/Canadian Residents
===================== ======================== =============== ====================
No Substandard Rating Class A - E Greater than Class
E
===================== ======================== =============== ====================
=========== ========= ======================== =============== ====================
Ages: 0 - 75 $35,000,000 $35,000,000 None
=========== ========= ======================== =============== ====================
=========== ========= ======================== =============== ====================
00 - 00 Xxxx Xxxx Xxxx
=========== ========= ======================== =============== ====================
3. SCHEDULE A, Section 11, RISK RETENTION LIMITS shall be added:
RISK RETENTION LIMITS:
The total amount of insurance in force and applied for on both lives for THE COMPANY and its affiliates will not
exceed the risk retention limits in the following table.
No Smokers
============================================================================
Highest Rating Class
================== ============================================================================
================== ================ =================== ================== ====================
Oldest Issue Age No Substandard Class A - D Class E - H Greater than Class
of Insured Rating H
------------------ ---------------- ------------------- ------------------ --------------------
--------- -------- ---------------- ------------------- ------------------ --------------------
Ages: 18 - 65 $50,000,000 $35,000,000 $25,000,000 $20,000,000
-------- ---------------- ------------------- ------------------ --------------------
--------- -------- ---------------- ------------------- ------------------ --------------------
66 - 70 $35,000,000 $22,000,000 $16,000,000 $13,000,000
--------- -------- ---------------- ------------------- ------------------ --------------------
--------- -------- ---------------- ------------------- ------------------ --------------------
71 - 75 $20,000,000 $13,000,000 $10,000,000 $ 8,000,000
--------- -------- ---------------- ------------------- ------------------ --------------------
--------- -------- ---------------- ------------------- ------------------ --------------------
76 - 80 $15,000,000 $10,000,000 $ 7,000,000 $ 5,000,000
--------- -------- ---------------- ------------------- ------------------ --------------------
--------- -------- ---------------- ------------------- ------------------ --------------------
81 - 85 $10,000,000 $ 8,000,000 $ 5,000,000 $ 3,000,000
--------- -------- ---------------- ------------------- ------------------ --------------------
--------- -------- ---------------- ------------------- ------------------ --------------------
86 - 90 $ 5,000,000 $ 4,000,000 $ 3,000,000 $ 2,000,000
========= ======== ================ =================== ================== ====================
One Smoker
============================================================================
Highest Rating Class
================== ============================================================================
================== ================ =================== ================== ====================
Oldest Issue Age No Substandard Class A - D Class E - H Greater than Class
of Insured Rating H
------------------ ---------------- ------------------- ------------------ --------------------
--------- -------- ---------------- ------------------- ------------------ --------------------
Ages: 18 - 65 $35,000,000 $25,000,000 $17,000,000 $14,000,000
-------- ---------------- ------------------- ------------------ --------------------
--------- -------- ---------------- ------------------- ------------------ --------------------
66 - 70 $25,000,000 $20,000,000 $13,000,000 $10,000,000
--------- -------- ---------------- ------------------- ------------------ --------------------
--------- -------- ---------------- ------------------- ------------------ --------------------
71 - 75 $15,000,000 $12,000,000 $10,000,000 $ 6,000,000
--------- -------- ---------------- ------------------- ------------------ --------------------
--------- -------- ---------------- ------------------- ------------------ --------------------
76 - 80 $13,000,000 $10,000,000 $ 7,000,000 $ 4,000,000
--------- -------- ---------------- ------------------- ------------------ --------------------
--------- -------- ---------------- ------------------- ------------------ --------------------
81 - 85 $ 9,000,000 $ 7,000,000 $ 5,000,000 $ 3,000,000
--------- -------- ---------------- ------------------- ------------------ --------------------
--------- -------- ---------------- ------------------- ------------------ --------------------
86 - 90 $ 4,000,000 $ 3,000,000 $ 2,000,000 $ 2,000,000
========= ======== ================ =================== ================== ====================
Two Smokers
============================================================================
Highest Rating Class
================== ============================================================================
================== ================ =================== ================== ====================
Oldest Issue Age No Substandard Class A - D Class E - H Greater than Class
of Insured Rating H
------------------ ---------------- ------------------- ------------------ --------------------
--------- -------- ---------------- ------------------- ------------------ --------------------
Ages: 18 - 65 $25,000,000 $20,000,000 $15,000,000 $10,000,000
-------- ---------------- ------------------- ------------------ --------------------
--------- -------- ---------------- ------------------- ------------------ --------------------
66 - 70 $20,000,000 $15,000,000 $12,000,000 $ 8,000,000
--------- -------- ---------------- ------------------- ------------------ --------------------
--------- -------- ---------------- ------------------- ------------------ --------------------
71 - 75 $11,000,000 $10,000,000 $10,000,000 $ 5,000,000
--------- -------- ---------------- ------------------- ------------------ --------------------
--------- -------- ---------------- ------------------- ------------------ --------------------
76 - 80 $10,000,000 $10,000,000 $ 6,000,000 $ 4,000,000
--------- -------- ---------------- ------------------- ------------------ --------------------
--------- -------- ---------------- ------------------- ------------------ --------------------
81 - 85 $ 7,000,000 $ 6,000,000 $ 4,000,000 $ 3,000,000
--------- -------- ---------------- ------------------- ------------------ --------------------
--------- -------- ---------------- ------------------- ------------------ --------------------
86 - 90 $ 3,000,000 $ 2,000,000 $ 2,000,000 $ 2,000,000
========= ======== ================ =================== ================== ====================
In witness of the above, THE COMPANY and THE REINSURER have by their respective officers executed and delivered this
Agreement in duplicate on the dates indicated below, and is effective for policies issued of June 1, 2002.
----------------------------------------------------------- --------------------------------------------------------
PRUCO LIFE INSURANCE COMPANY OF NEW JERSEY MUNICH AMERICAN REASSURANCE COMPANY
----------------------------------------------------------- --------------------------------------------------------
----------------------------------------------------------- --------------------------------------------------------
By:__/s/______________________________ By:_/s/_____________________________
----------------------------------------------------------- --------------------------------------------------------
----------------------------------------------------------- --------------------------------------------------------
Title:_______________________________ Title:_____________________________
----------------------------------------------------------- --------------------------------------------------------
----------------------------------------------------------- --------------------------------------------------------
Date:_______________________________ Date:_____________________________
----------------------------------------------------------- --------------------------------------------------------
----------------------------------------------------------- --------------------------------------------------------
By:_/s/_______________________________ By:_/s/_____________________________
----------------------------------------------------------- --------------------------------------------------------
----------------------------------------------------------- --------------------------------------------------------
Title:_______________________________ Title:_____________________________
----------------------------------------------------------- --------------------------------------------------------
----------------------------------------------------------- --------------------------------------------------------
Date:_______________________________ Date:_____________________________
----------------------------------------------------------- --------------------------------------------------------
Amendment #2
to the
AUTOMATIC AND FACULTATIVE
YEARLY RENEWABLE TERM REINSURANCE AGREEMENT
EFFECTIVE March 1, 2003
Between
PRUCO LIFE INSURANCE COMPANY OF NEW JERSEY
(THE COMPANY)
And
MUNICH AMERICAN REASSURANCE COMPANY
(THE REINSURER)
The parties hereby agree to the following:
1. SCHEDULE A, Section 4, AUTOMATIC ACCEPTANCE LIMIT, shall be replaced by the following:
AUTOMATIC ACCEPTANCE LIMIT:
A. For any policy to be reinsured under automatic reinsurance, the face amount will not exceed the Automatic
Issue Limits shown in the following tables:
US/Canadian Residents - No Foreign Travel - Non-Smoker
====================================================================================
Rating Class of Higher Rated Life
=========================== ====================================================================================
=========================== ========================= ============================= ============================
Issue Age of Older No Substandard Rating Class A - D Class E - H
Insured
--------------------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
Ages: 18 - 65 $ 70,000,000 $ 70,000,000 $ 53,000,000
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
66 - 70 $ 63,000,000 $ 50,000,000 $ 30,000,000
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
71 - 75 $ 41,000,000 $ 34,000,000 $ 20,500,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
76 - 77 $ 25,500,000 $ 20,500,000 $ 14,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
78 - 80 $ 25,500,000 $ 20,500,000 $ 14,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
81 - 85 $ 13,500,000 $ 11,500,000 $ 6,750,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
86 - 90 $ 6,750,000 $ 5,750,000 $ 3,600,000
=========== =============== ========================= ============================= ============================
US/Canadian Residents - No Foreign Travel - One Smoker
====================================================================================
Rating Class of Higher Rated Life
=========================== ------------------------------------------------------------------------------------
=========================== ========================= ============================= ============================
Issue Age of Older No Substandard Rating Class A - D Class E - H
Insured
--------------------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
Ages: 18 - 65 $ 70,000,000 $ 60,000,000 $ 45,000,000
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
66 - 70 $ 53,000,000 $ 48,000,000 $ 27,000,000
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
71 - 75 $ 36,000,000 $ 33,000,000 $ 20,500,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
76 - 77 $ 23,500,000 $ 20,500,000 $ 14,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
78 - 80 $ 23,500,000 $ 20,500,000 $ 14,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
81 - 85 $ 12,500,000 $ 10,500,000 $ 6,750,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
86 - 90 $ 5,750,000 $ 4,750,000 $ 2,600,000
=========== =============== ========================= ============================= ============================
US/Canadian Residents - No Foreign Travel - Two Smokers
====================================================================================
Rating Class of Higher Rated Life
=========================== ------------------------------------------------------------------------------------
=========================== ========================= ============================= ============================
Issue Age of Older No Substandard Rating Class A - D Class E - H
Insured
--------------------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
Ages: 18 - 65 $ 60,000,000 $ 55,000,000 $ 43,000,000
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
66 - 70 $ 48,000,000 $ 43,000,000 $ 26,000,000
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
71 - 75 $ 32,000,000 $ 31,000,000 $ 20,500,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
76 - 77 $ 20,500,000 $ 20,500,000 $ 13,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
78 - 80 $ 20,500,000 $ 20,500,000 $ 13,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
81 - 85 $ 10,500,000 $ 9,500,000 $ 5,750,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
86 - 90 $ 4,750,000 $ 3,750,000 $ 2,600,000
=========== =============== ========================= ============================= ============================
If both lives exceed Class H, there will be no automatic limit.
If one life is ratable over Class H, then the following individual policy limits for the lesser impaired life's
mortality classification apply:
US/Canadian Residents - No Foreign Travel - Non-Smoker
====================================================================================
Rating Class of Less Impaired Insured
=========================== ====================================================================================
=========================== ========================= ============================= ============================
Issue Age of Older No Substandard Rating Class A - D Class E - H
Insured
--------------------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
Ages: 18 - 65 $ 41,000,000 $ 41,000,000 $ 34,000,000
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
66 - 70 $ 29,000,000 $ 29,000,000 $ 23,500,000
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
71 - 75 $ 19,500,000 $ 19,500,000 $ 15,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
76 - 77 $ 12,000,000 $ 12,000,000 $ 8,500,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
78 - 80 $ 8,500,000 $ 8,500,000 $ 6,750,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
81 - 85 $ 4,750,000 $ 4,750,000 None
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
86 - 90 $ 2,700,000 $ 2,700,000 None
=========== =============== ========================= ============================= ============================
US/Canadian Residents - No Foreign Travel - One Smoker
====================================================================================
Rating Class of Less Impaired Insured
=========================== ------------------------------------------------------------------------------------
=========================== ========================= ============================= ============================
Issue Age of Older No Substandard Rating Class A - D Class E - H
Insured
--------------------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
Ages: 18 - 65 $ 35,000,000 $ 35,000,000 $ 28,000,000
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
66 - 70 $ 26,000,000 $ 26,000,000 $ 20,500,000
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
71 - 75 $ 19,500,000 $ 19,500,000 $ 13,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
76 - 77 $ 11,000,000 $ 11,000,000 $ 7,500,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
78 - 80 $ 7,500,000 $ 7,500,000 $ 5,750,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
81 - 85 $ 4,750,000 $ 4,750,000 None
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
86 - 90 $ 1,700,000 $ 1,700,000 None
=========== =============== ========================= ============================= ============================
US/Canadian Residents - No Foreign Travel - Two Smokers
====================================================================================
Rating Class of Less Impaired Insured
=========================== ------------------------------------------------------------------------------------
=========================== ========================= ============================= ============================
Issue Age of Older No Substandard Rating Class A - D Class E - H
Insured
--------------------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
Ages: 18 - 65 $ 31,000,000 $ 31,000,000 $ 24,000,000
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
66 - 70 $ 25,000,000 $ 25,000,000 $ 18,500,000
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
71 - 75 $ 19,000,000 $ 19,000,000 $ 12,000,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
76 - 77 $ 11,000,000 $ 11,000,000 $ 7,500,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
78 - 80 $ 7,500,000 $ 7,500,000 $ 5,750,000
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
81 - 85 $ 4,750,000 $ 4,750,000 None
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
86 - 90 $ 1,700,000 $ 1,700,000 None
=========== =============== ========================= ============================= ============================
US/Canadian Residents - Foreign Travel
====================================================================================
Rating Class of Higher Rated Life
=========================== ------------------------------------------------------------------------------------
=========================== ========================= ============================= ============================
Pref. Best - Class C Class D - E Greater than Class E
--------------------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
Ages: 18 - 70 $ 10,000,000 $ 7,500,000 None
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
71 - 75 $ 7,500,000 $ 5,000,000 None
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
00 - 00 Xxxx Xxxx Xxxx
=========== =============== ========================= ============================= ============================
Non US/Canadian Residents
====================================================================================
Rating Class of Higher Rated Life
=========================== ------------------------------------------------------------------------------------
=========================== ========================= ============================= ============================
Pref. Best - Class C Class D - E Greater than Class E
--------------------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
Ages: 18 - 70 $ 20,000,000 $ 15,000,000 None
--------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
71 - 75 $ 15,000,000 $ 10,000,000 None
----------- --------------- ------------------------- ----------------------------- ----------------------------
----------- --------------- ------------------------- ----------------------------- ----------------------------
00 - 00 Xxxx Xxxx Xxxx
=========== =============== ========================= ============================= ============================
B. For any policy to be reinsured under automatic reinsurance, the amounts subject to reinsurance are the First
Layer of Coverage amounts shown in the following tables:
US/Canadian Residents - No Foreign Travel
=======================================================
Rating Class of Higher Rated Life
=========================== -------------------------------------------------------
=========================== ========================= =============================
Issue Age of Older Pref. Best - Class D Class E - H
Insured
--------------------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
Ages: 18 - 65 $ 50,000,000 $ 40,000,000
--------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
66 - 70 $ 40,000,000 $ 20,000,000
--------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
71 - 75 $ 30,000,000 $ 15,000,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
76 - 80 $ 15,000,000 $ 10,000,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
81 - 85 $ 5,000,000 $ 2,500,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
86 - 90 $ 2,500,000 $ 1,000,000
=========== =============== ========================= =============================
If both lives exceed Class H, there will be no automatic acceptance limit.
If one life is ratable over Class H, then the following individual policy limits for the lesser impaired life's
mortality classification apply:
=======================================================
Rating Class of Lesser Impaired Insured
=========================== -------------------------------------------------------
=========================== ========================= =============================
Issue Age of Lesser Pref. Best - Class D Class E - H
Impaired Life
--------------------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
Ages: 18 - 65 $ 30,000,000 $ 20,000,000
--------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
66 - 70 $ 25,000,000 $ 15,000,000
--------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
71 - 75 $ 20,000,000 $ 10,000,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
76 - 77 $ 10,000,000 $ 5,000,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
78 - 80 $ 5,000,000 $ 2,500,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
81 - 85 $ 2,500,000 None
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
86 - 90 $ 1,000,000 None
=========== =============== ========================= =============================
US/Canadian Residents - Foreign Travel
============================================================
Rating Class of Higher Rated Life
---------------------- ------------------------------------------------------------
====================== ==================== ================= =====================
Issue Age of Insured Pref. Best - Class Class D - E Greater than Class E
C
---------------------- -------------------- ----------------- ---------------------
----------- ---------- -------------------- ----------------- ---------------------
Ages: 18 - 70 $ 10,000,000 $ 7,500,000 None
---------- -------------------- ----------------- ---------------------
----------- ---------- -------------------- ----------------- ---------------------
71 - 75 $ 7,500,000 $ 5,000,000 None
----------- ---------- -------------------- ----------------- ---------------------
----------- ---------- -------------------- ----------------- ---------------------
76 + None None None
=========== ========== ==================== ================= =====================
Non US/Canadian Residents
============================================================
Rating Class of Higher Rated Life
---------------------- ------------------------------------------------------------
====================== ==================== ================= =====================
Issue Age of Insured Pref. Best - Class Class D - E Greater than Class E
C
---------------------- -------------------- ----------------- ---------------------
----------- ---------- -------------------- ----------------- ---------------------
Ages: 18 - 70 $ 20,000,000 $ 15,000,000 None
---------- -------------------- ----------------- ---------------------
----------- ---------- -------------------- ----------------- ---------------------
71 - 75 $ 15,000,000 $ 10,000,000 None
----------- ---------- -------------------- ----------------- ---------------------
----------- ---------- -------------------- ----------------- ---------------------
76 + None None None
=========== ========== ==================== ================= =====================
C. For any policy to be reinsured under automatic reinsurance, the amounts reinsured with THE REINSURER on that
life will not exceed the amounts in the following tables:
US/Canadian Residents - No Foreign Travel
=======================================================
Rating Class of Higher Rated Life
=========================== -------------------------------------------------------
=========================== ========================= =============================
Issue Age of Older Pref. Best - Class D Class E - H
Insured
--------------------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
Ages: 18 - 65 $ 10,000,000 $ 8,000,000
--------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
66 - 70 $ 8,000,000 $ 4,000,000
--------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
71 - 75 $ 6,000,000 $ 3,000,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
76 - 80 $ 3,000,000 $ 2,000,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
81 - 85 $ 1,000,000 $ 500,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
86 - 90 $ 500,000 $ 200,000
=========== =============== ========================= =============================
If both lives exceed Class H, there will be no automatic acceptance limit.
If one life is ratable over Class H, then the following individual policy limits for the lesser impaired life's
mortality classification apply:
=======================================================
Rating Class of Less Impaired Insured
=========================== -------------------------------------------------------
=========================== ========================= =============================
Issue Age of Lesser Pref. Best - Class D Class E - H
Impaired Life
--------------------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
Ages: 18 - 65 $ 6,000,000 $ 4,000,000
--------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
66 - 70 $ 5,000,000 $ 3,000,000
--------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
71 - 75 $ 4,000,000 $ 2,000,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
76 - 77 $ 2,000,000 $ 1,000,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
78 - 80 $ 1,000,000 $ 500,000
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
81 - 85 $ 500,000 None
----------- --------------- ------------------------- -----------------------------
----------- --------------- ------------------------- -----------------------------
86 - 90 $ 200,000 None
=========== =============== ========================= =============================
US/Canadian Residents - Foreign Travel
===========================================================
Rating Class of Higher Rated Life
----------------------- -----------------------------------------------------------
======================= =================== ================== ====================
Issue Age of Insured Pref. Best - Class D - E Greater than Class
Class C E
----------------------- ------------------- ------------------ --------------------
----------- ----------- ------------------- ------------------ --------------------
Ages: 18 - 70 $ 2,000,000 $ 1,500,000 None
----------- ------------------- ------------------ --------------------
----------- ----------- ------------------- ------------------ --------------------
71 - 75 $ 1,500,000 $ 1,000,000 None
----------- ----------- ------------------- ------------------ --------------------
----------- ----------- ------------------- ------------------ --------------------
76 + None None None
=========== =========== =================== ================== ====================
Non US/Canadian Residents
===========================================================
Rating Class of Higher Rated Life
----------------------- -----------------------------------------------------------
======================= =================== ================== ====================
Issue Age of Insured Pref. Best - Class D - E Greater than Class
Class C E
----------------------- ------------------- ------------------ --------------------
----------- ----------- ------------------- ------------------ --------------------
Ages: 18 - 70 $ 4,000,000 $ 3,000,000 None
----------- ------------------- ------------------ --------------------
----------- ----------- ------------------- ------------------ --------------------
71 - 75 $ 3,000,000 $ 2,000,000 None
----------- ----------- ------------------- ------------------ --------------------
----------- ----------- ------------------- ------------------ --------------------
76 + None None None
=========== =========== =================== ================== ====================
In witness of the above, THE COMPANY and THE REINSURER have by their respective officers executed and delivered this
Agreement in duplicate on the dates indicated below, and is effective for policies issued as of March 1, 2003.
----------------------------------------------------------- --------------------------------------------------------
PRUCO LIFE INSURANCE COMPANY OF NEW JERSEY MUNICH AMERICAN REASSURANCE COMPANY
----------------------------------------------------------- --------------------------------------------------------
----------------------------------------------------------- --------------------------------------------------------
By:_/s/_______________________________ By:__/s/____________________________
----------------------------------------------------------- --------------------------------------------------------
----------------------------------------------------------- --------------------------------------------------------
Title:_______________________________ Title:_____________________________
----------------------------------------------------------- --------------------------------------------------------
----------------------------------------------------------- --------------------------------------------------------
Date:_______________________________ Date:_____________________________
----------------------------------------------------------- --------------------------------------------------------
----------------------------------------------------------- --------------------------------------------------------
By:_/s/_______________________________ By:_/s/_____________________________
----------------------------------------------------------- --------------------------------------------------------
----------------------------------------------------------- --------------------------------------------------------
Title:_______________________________ Title:_____________________________
----------------------------------------------------------- --------------------------------------------------------
----------------------------------------------------------- --------------------------------------------------------
Date:_______________________________ Date:_____________________________
----------------------------------------------------------- --------------------------------------------------------
Amendment #3
to the
AUTOMATIC AND FACULTATIVE
YEARLY RENEWABLE TERM REINSURANCE AGREEMENT
EFFECTIVE January 1, 2000
Between
PRUCO LIFE INSURANCE COMPANY OF NEW JERSEY
And
MUNICH AMERICAN REASSURANCE COMPANY
This is an ASSIGNMENT, ASSUMPTION AND RELEASE AGREEMENT (the "Assignment"), dated as of December 1, 2004, by and among
PRUCO LIFE INSURANCE COMPANY OF NEW JERSEY (the "Assignor"), THE PRUDENTIAL INSURANCE COMPANY OF AMERICA (the
"Assignee"), and MUNICH AMERICAN REASSURANCE COMPANY (the "Reinsurer").
WHEREAS, the Reinsurer provides reinsurance coverage to the Assignor in accordance with the terms of the
reinsurance agreement referenced above (the "Reinsurance Treaty"); and
WHEREAS, the parties hereto desire to execute this Assignment to evidence the assignment by the Assignor and
assumption by the Assignee of the Assignor's rights and obligations under the Reinsurance Treaty and to effect a full and
final release of the Assignor's rights and obligations under the Reinsurance Treaty effective as of 12:00 a.m., Eastern
Time, December 1, 2004 (the "Effective Time").
NOW, THEREFORE, in consideration of the promises and the mutual agreements herein contained, the parties hereto
agree to the following:
1.Assignor Assignment of Interests to Assignee. The Assignor hereby transfers, conveys, assigns and sets over to the Assignee,
its successors and assigns, all of its rights, obligations, liabilities, title and interest in the Reinsurance Treaty,
all effective as of the Effective Time, including those incurred, accrued, or otherwise occurring or arising prior to the
Effective Time.
2. Assignee Assumption of Interests from Assignor. Effective as of the Effective Time, the Assignee hereby assumes all
of the rights and interests of the Assignor under the Reinsurance Treaty and undertakes to pay, perform and discharge, or
cause to be paid, performed or discharged, all of the liabilities and obligations of the Assignor under the Reinsurance
Treaty, including those rights, interests, obligations, and liabilities incurred, accrued, or otherwise occurring or
arising prior to the Effective Time. It is the intention of the parties that:
a. The Assignee shall be substituted for the Assignor under the Reinsurance Treaty, in the Assignor's name,
place and stead; and
b. The Assignor shall be deemed to have ceased to be a party to, or the ceding company under, the Reinsurance Treaty and shall
have released all of its rights and interests, and shall have been discharged from all obligations and
liabilities thereunder to the Reinsurer; and
c. The Reinsurer will conduct business solely with the Assignee, or its designee, with respect to the
performance of any and all obligations and liabilities under the Reinsurance Treaty.
3. Reinsurer Consent. Notwithstanding anything to the contrary set forth in the Reinsurance Treaty, the Reinsurer
consents to the assignment and assumption set forth in Sections 1 and 2 above.
4. Reinsurer Release of Assignor. As of the Effective Time, the Reinsurer, in consideration of the assumption by the
Assignee set forth above and other valuable consideration, the receipt and adequacy whereof is hereby acknowledged,
irrevocably and unconditionally releases and discharges the Assignor and the Assignor's successors and assigns from all
liabilities, actions, causes of action, suits, debts, dues, sums of money, accounts, reckonings, bonds, bills,
specialties, covenants, contracts, controversies, agreements, promises, variances, trespasses, damages, judgments,
extents, executions, claims and demands whatsoever, known or unknown, in law or equity, against the Assignor, which the
Reinsurer and the Reinsurer's predecessors, successors and assigns ever had, now have or hereafter can, shall or may
have, for, upon, or by reason of any rights of the Reinsurer under the Reinsurance Treaty, including any and all of the
Assignor's obligations incurred, accrued, or otherwise occurring or arising prior to the Effective Time. This release
under this Section 4 may not be changed orally.
5. Assignor Release of Reinsurer. As of the Effective Time, the Assignor, in consideration of the consent by the
Reinsurer set forth above and other valuable consideration, the receipt and adequacy whereof is hereby acknowledged,
irrevocably and unconditionally releases and discharges the Reinsurer and the Reinsurer's predecessors, successors and
assigns from all liabilities, actions, causes of action, suits, debts, dues, sums of money, accounts, reckonings, bonds,
bills, specialties, covenants, contracts, controversies, agreements, promises, variances, trespasses, damages, judgments,
extents, executions, claims, and demands whatsoever, known or unknown, in law or equity, against the Reinsurer, which the
Assignor ever had, now has or hereafter can, shall or may have, for, upon, or by reason of any rights of the Assignor
under the Reinsurance Treaty, including any and all of the Reinsurer's obligations incurred, accrued, or otherwise
occurring or arising prior to the Effective Time. This release under this Section 5 may not be changed orally.
6. Further Assurances. At any time and from time to time after the Effective Time, at the request of the Assignee, or
of the Reinsurer and without further consideration, the Assignor shall execute and deliver such other instruments of
sale, transfer, conveyance, assignment and confirmation and take such other action as either the Assignee or the
Reinsurer may reasonably request as necessary or desirable in order to more effectively transfer, convey and assign to
the Assignee the Reinsurance Treaty.
7.Amendment of Reinsurance Treaty. The Reinsurer and the Assignee agree that the Reinsurance Treaty is amended as of the Effective
Time as provided in Exhibit A attached hereto.
8. Successors and Assigns. This Assignment shall be binding upon, and shall inure to the benefit of the Reinsurer, the
Assignor and the Assignee and their respective predecessors, successors and assigns, if any. The parties do not intend
to create any third party beneficiaries under this Assignment
9.Governing Law. This Assignment shall be governed by and construed in accordance with the laws of the state of New Jersey without
giving effect to its principles or rules of conflict of laws thereof. Any amendment to the Reinsurance Treaty set forth
herein shall be subject to the arbitration provision of the Reinsurance Treaty.
10. Counterparts. This Assignment may be signed in multiple counterparts. Each counterpart shall be considered an
original instrument, but all of them in the aggregate shall constitute one agreement.
In witness of the above, the Assignor, the Assignee, and the Reinsurer have by their respective officers executed and
delivered this Assignment in triplicate on the dates indicated below, with an effective date of December 1, 2004.
----------------------------------------------------------- --------------------------------------------------------
PRUCO LIFE INSURANCE COMPANY OF NEW JERSEY MUNICH AMERICAN REASSURANCE COMPANY
----------------------------------------------------------- --------------------------------------------------------
----------------------------------------------------------- --------------------------------------------------------
By:_/s/_______________________________ By:_/s/_____________________________
----------------------------------------------------------- --------------------------------------------------------
----------------------------------------------------------- --------------------------------------------------------
Title:_______________________________ Title:_____________________________
----------------------------------------------------------- --------------------------------------------------------
----------------------------------------------------------- --------------------------------------------------------
Date:_______________________________ Date:_____________________________
----------------------------------------------------------- --------------------------------------------------------
----------------------------------------------------------- --------------------------------------------------------
By:_/s/_______________________________ By:_/s/_____________________________
----------------------------------------------------------- --------------------------------------------------------
----------------------------------------------------------- --------------------------------------------------------
Title:_______________________________ Title:_____________________________
----------------------------------------------------------- --------------------------------------------------------
----------------------------------------------------------- --------------------------------------------------------
Date:_______________________________ Date:_____________________________
----------------------------------------------------------- --------------------------------------------------------
----------------------------------------------------------- --------------------------------------------------------
THE PRUDENTIAL INSURANCE COMPANY OF AMERICA
----------------------------------------------------------- --------------------------------------------------------
----------------------------------------------------------- --------------------------------------------------------
By:__/s/______________________________
----------------------------------------------------------- --------------------------------------------------------
----------------------------------------------------------- --------------------------------------------------------
Title:_______________________________
----------------------------------------------------------- --------------------------------------------------------
----------------------------------------------------------- --------------------------------------------------------
Date:_______________________________
----------------------------------------------------------- --------------------------------------------------------
-----------------------------------------------------------
By:_/s/_______________________________
-----------------------------------------------------------
-----------------------------------------------------------
Title:_______________________________
-----------------------------------------------------------
-----------------------------------------------------------
Date:_______________________________
-----------------------------------------------------------
Exhibit A
1. The INSOLVENCY provision of the Reinsurance Treaty is deleted in its entirety and is replaced by the following:
INSOLVENCY:
For the purpose of this Agreement, PRUCO OF NJ or MUNICH shall be deemed "insolvent" if one or more of the
following occurs:
a. A court-appointed receiver, trustee, custodian, conservator, liquidator, government official or similar officer
takes possession of the property or assets of either PRUCO OF NJ or MUNICH; or
b. Either PRUCO OF NJ or MUNICH is placed in receivership, rehabilitation, liquidation, conservation, bankruptcy or
similar status pursuant to the laws of any state or of the United States; or
c. Either PRUCO OF NJ or MUNICH becomes subject to an order to rehabilitate or an order to liquidate as defined by
the insurance code of the jurisdiction of the domicile of PRUCO OF NJ or MUNICH, as the case may be.
In the event of the insolvency of PRUCO OF NJ, all reinsurance ceded, renewed or otherwise becoming effective
under this Agreement shall be payable by MUNICH directly to PRUCO OF NJ or to its liquidator, receiver, or
statutory successor on the basis of the liability of PRUCO OF NJ under the contract or contracts reinsured
without diminution because of the insolvency of PRUCO OF NJ. It is understood, however, that in the event of the
insolvency of PRUCO OF NJ, the liquidator or receiver or statutory successor of the insolvent Company shall give
written notice of the pendency of a claim against PRUCO OF NJ on the policy reinsured within a reasonable time
after such claim is filed in the insolvency proceeding, and during the pendency of such claim MUNICH may
investigate such claim and interpose, at its own expense, in the proceeding where such claim is to be adjudicated
any defense or defenses which it may deem available to PRUCO OF NJ or is liquidator or receiver or statutory
successor. The expense thus incurred by MUNICH shall be payable, subject to court approval, out of the estate of
the insolvent company as part of the expense of the receivership to the extent of a proportionate share of the
benefit which may accrue to the ceding insurer in receivership, solely as a result of the defense undertaken by
MUNICH.
In the event MUNICH is deemed insolvent, MUNICH will be bound by any legal directions imposed by its liquidator,
conservator, or statutory successor. However, and if not in conflict with such legal directions, PRUCO OF NJ
shall have the right to cancel this Agreement with respect to occurrences taking place on or after the date
MUNICH first evidences insolvency. Such right to cancel shall be exercised by providing MUNICH (or its
liquidator, conservator, receiver or statutory successor) with a written notice of PRUCO OF NJ's intent to
recapture ceded business. If PRUCO OF NJ exercises such right to cancel and recapture ceded business, such
election shall be in lieu of any premature recapture fee. Upon such election, PRUCO OF NJ shall be under no
obligation to MUNICH, its liquidator, receiver or statutory successor.
2. Any and all references in the Reinsurance Treaty to the jurisdiction in which PRUCO OF NJ is domiciled or
organized shall read as if to refer to the State of New Jersey.
3. If the GOVERNING LAW provision of the Reinsurance Treaty does not provide for the application of New Jersey law,
that provision shall be changed to read as follows:
GOVERNING LAW:
This Agreement shall be governed by the laws of the State of New Jersey without giving effect to the
principles of conflicts of laws thereof.
4. Any and all references in the Reinsurance Treaty to MUNICH being licensed or authorized in a given jurisdiction
shall be read as if to refer to the State of New Jersey. If the Reinsurance Treaty contains no such reference,
then MUNICH hereby represents that it is authorized to do business in the State of New Jersey.
