AMENDMENT
to the risk Premium Reinsurance Agreement between the
LUTHERAN MUTUAL LIFE INSURANCE COMPANY 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. Under the above-mentioned reinsurance agreement the REINSURED'S excess
of individual ordinary Life, Waiver of Premium Disability, and
Accidental Death insurance issued directly by the REINSURED on the
policy forms listed in Appendix l on lives having surnames which
commence with letters of the alphabet from A to K, inclusive, shall be
reinsured with the LINCOLN automatically or shall be submitted to the
LINCOLN on a facultative basis or shall be reinsured with the LINCOLN
as continuations; a continuation is a new policy replacing a policy
issued earlier by the REINSURED ("original policy") or a change in an
existing policy issued or made either (a) in compliance with the terms
of the original policy or (b) without the same new underwriting
information the REINSURED would obtain in the absence of the original
policy, without a suicide exclusion period or contestable period as
long as those contained in new issues by the REINSURED, or without the
payment of the same commissions in the first year that the REINSURED
would have paid in the absence of the original policy.
Revision No. 1
2. If the REINSURED issues a policy as a continuation of a policy
reinsured under the above-mentioned reinsurance agreement, reinsurance
of the continuation shall continue with the LINCOLN as described
below:
a. Continuations to Issues Reinsured Hereunder
-------------------------------------------
The premium rates for new policies reinsured under the
above-mentioned reinsurance agreement as continuations and issued
in compliance with the terms of the original policy shall be
determined by using the original issue age and attained duration,
unless the agreement governing the original policy specifies
otherwise. For purposes of calculating the reinsurance premium
for other policies reinsured under the above-mentioned
reinsurance agreement as continuations, the date of issue of the
continuation policy shall be considered the date of the original
policy.
b. Continuations from Issues Reinsured Hereunder
---------------------------------------------
The reinsurance premium shall be as described in the agreement
which covers the new policy based on the original issue age and
attained duration. If no such agreement is in effect between the
LINCOLN and the REINSURED, reinsurance shall continue hereunder
using the premium rates described in Schedule D, Part III.
3. The REINSURED'S plans to be reinsured under the above-mentioned
reinsurance agreement on and after the first day of May, 1984, shall
be those specified in the Appendix I attached hereto.
4. The reinsurance percentages for the REINSURED'S cost of insurance
rates shall be as described in schedule D, Part II, attached hereto,
and shall apply to reinsurance of the REINSURED'S Univers-All Life II
plan ceded under the above-mentioned reinsurance agreement on and
after the first day of May, 1984, 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.
5. On and after the first day of May, 1984, the premium rates labeled
"F5H3, NONSMOKERS," "H3, SMOKERS,' and "H4, SUBSTANDARD," under the
Risk Premium Reinsurance Agreement between the REINSURED and the
LINCOLN, effective January 1, 1982, shall be applied to reinsurance
for the excess over $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.
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.
LUTHERAN MUTUAL LIFE INSURANCE COMPANY
By /s/ Xxxxx X. Xxxxxxxx By /s/ Xxxx X. Xxxxxx
---------------------------- --------------------------------
Date 7/12/84 Date 7/13/84
-------------------------- ------------------------------
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY
By /s/ Xxxxxx X. Xxxxxx By /s/ Xxxxx Xxxxxxx
---------------------------- --------------------------------
Second Vice President Assistant Secretary
Date August 10, 1984 Date August 9, 1984
-------------------------- -----------------------------
APPENDIX I
(Effective May 1, 1984)
Policy Forms Subject to Reinsurance Hereunder
Universal Life Plan
Univers-All Life II
SCHEDULE D, PART II
(Effective May 1, 1984)
Reinsurance Premium Rates
Univers-All life II
For the first $5,000,000 of reinsurance on any one life the reinsurance premium
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 1 2-10 11+
-------------- - ---- ---
Nonsmoker
0-49 0% 76% 76%
50+ 0 59 59
Smoker
0-49 0 95 100
50+ 0 75 90
Substandard Risks
-----------------
The Substandard table-extra reinsurance premium shall be the number of tables
assessed the times 25% of the attached appropriate standard rates times the
following percentages:
Policy Year
Smoking Status 1 2-10 11+
-------------- - ---- ---
Nonsmoker
0-49 0% 76% 76%
50+ 0 59 59
Smoker
0-49 0 95 100
50+ 0 75 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.
UNIVERS-ALL LIFE II COST OF INSURANCE RATES
ANNUAL RATES PER $1000
MALE FEMALE
====================================== ============================================
ATT --------CURRENT------- -------CURRENT------- ATT
AGE GUARANTEED STANDARD NONSMOKER GUARANTEED STANDARD NONSMOKER AGE
0 4.64 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 1.09 1.08 25
26 1.98 1.41 1.37 1.90 1.13 1.11 26
27 2.01 1.48 1.39 1.92 1.17 1.14 27
28 2.05 1.56 1.41 1.95 1.22 1.18 28
29 2.10 1.67 1.43 1.98 1.25 1.21 29
30 2.16 1.77 1.45 2.01 1.33 1.25 30
31 2.22 1.82 1.47 2.05 1.37 1.28 31
32 2.29 1.87 1.50 2.10 1.43 1.32 32
33 2.36 1.94 1.52 2.16 1.53 1.36 33
34 2.45 2.03 1.56 2.22 1.61 1.40 34
35 2.58 2.11 1.59 2.29 1.69 1.44 35
36 2.72 2.19 1.61 2.36 1.76 1.48 36
37 2.90 1.27 1.64 2.45 1.43 1.52 37
38 3.13 2.36 1.67 2.58 1.92 1.57 38
39 3.39 2.46 1.70 2.72 2.01 1.62 39
40 3.68 2.58 1.76 2.90 2.16 1.67 40
41 4.00 2.82 1.88 3.13 2.37 1.79 41
42 4.35 3.13 2.06 3.39 2.64 1.96 42
43 4.72 3.43 2.24 3.68 2.92 2.13 43
44 5.13 3.77 2.45 4.00 3.21 2.30 44
45 5.59 4.16 2.68 4.35 3.48 2.47 45
46 6.09 4.54 2.90 4.72 3.71 2.61 46
47 6.65 4.97 3.15 5.13 3.92 2.72 47
48 7.27 5.44 3.43 5.59 4.10 2.83 48
49 7.96 5.94 3.71 6.09 4.30 2.94 49
UNIVERS-ALL LIFE II 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 6.49 4.03 6.65 4.48 3.05 50
51 9.53 7.13 4.40 7.27 4.80 3.25 51
52 10.42 7.83 4.80 7.96 5.12 3.45 52
53 11.39 8.59 5.22 8.71 5.47 3.67 53
54 12.45 9.42 5.69 9.53 5.86 3.92 54
55 13.60 10.34 6.21 10.42 6.33 4.22 55
56 14.87 11.24 6.80 11.39 6.86 4.57 56
57 16.26 12.20 7.64 12.45 7.44 4.96 57
58 17.79 13.26 8.47 13.60 8.09 5.39 58
59 19.46 14.41 9.40 14.87 8.80 5.86 59
60 21.28 15.65 10.43 16.26 9.56 6.38 60
61 23.26 17.00 11.58 17.79 10.23 6.96 61
62 25.43 18.46 12.83 19.46 10.91 7.59 62
63 27.79 20.06 15.79 23.28 11.65 8.27 63
64 30.38 21.78 15.79 23.26 12.42 9.00 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 55.79 48.50 60.89 28.17 24.50 75
76 82.31 61.62 54.07 65.61 31.65 27.78 76
77 89.22 68.07 60.28 70.65 35.52 31.45 77
78 96.93 75.24 67.12 76.16 39.94 35.66 78
79 105.35 83.11 74.83 82.31 44.96 40.51 79
80 114.39 91.77 83.40 89.22 50.74 46.14 80
81 123.95 101.63 92.88 96.93 57.37 52.41 81
82 133.92 112.53 103.43 105.35 64.50 59.31 82
83 144.30 124.48 115.05 114.39 72.54 67.00 83
84 155.12 137.83 128.12 123.95 81.57 75.85 84
85 166.47 152.62 142.68 133.92 92.00 85.94 85
86 178.39 168.87 158.48 144.30 103.88 97.41 86
87 191.02 186.70 175.72 155.12 117.06 110.20 87
88 204.57 204.48 193.39 166.47 131.43 124.20 88
89 219.37 220.39 209.03 178.39 147.25 139.68 89
90 235.82 234.03 222.82 191.02 164.29 156.44 90
91 254.44 246.36 235.93 204.57 177.72 170.20 91
92 275.82 261.30 251.68 219.37 193.92 186.81 92
93 300.67 283.40 274.58 235.82 215.81 209.10 93
94 330.70 310.33 302.42 254.44 242.76 236.60 94
SCHDULE D, PART III
(Effective May 1, 1984)
Continuation Reinsurance Premium rates
The reinsurance premium of continuation policies not covered under a reinsurance
agreement between the REINSURED and the LINCOLN shall continue using the
following percentages of the SELECT 100, non-refunding Reinsurance Premium Rates
effective January 1, 1978:
100% Nonsmoker "Z1H3"
185% Smoker "Z3H3"
125% Xxxxxxxxx "X0X0"
250% Substandard-Extra "Z1H4"
