AMENDMENT NO. 9
to the
VARIABLE ANNUITY GMIB REINSURANCE AGREEMENT
EFFECTIVE MARCH 1, 2005
Between
XXXXXXX NATIONAL LIFE INSURANCE COMPANY OF NEW YORK
("CEDING COMPANY")
and
ACE TEMPEST LIFE REINSURANCE LTD.
("REINSURER")
Effective June 15, 2008, this Amendment is hereby attached to and becomes a part
of the above-described Reinsurance Agreement. It is mutually agreed that the
Agreement will be amended to add a new GMIB rider expected to be launched in
October, 2008, to increase the claim limits associated with the new rider, to
reduce the new business limit to $200 million, and to remove the Perspective A
Series product, which was never launched. To effect these changes, the following
provisions of this Agreement are hereby amended:
|X| Schedule B-1, CONTRACTS SUBJECT TO THIS REINSURANCE AGREEMENT, Amendment
#3, is hereby replaced by the attached Schedule B-1.
|X| Schedule C-2, LIMITS AND RULES OF THE REINSURER, Amendment #7, is hereby
replaced by the attached Schedule C-2.
|X| Schedule D, QUARTERLY REINSURANCE PREMIUM RATE, is hereby replaced by the
attached Schedule D.
|X| Schedule F-1, DOLLAR CLAIM LIMIT RATE, is hereby replaced by the attached
Schedule F-1.
|X| Schedule F-2, FORMULA CLAIM LIMIT RATE, is hereby replaced by the attached
Schedule F-2.
Xxxxxxx National Life Insurance ACE Tempest Life Reinsurance Ltd.
Company of New York
By ______Lisa C. Drake_______________ By ____Huan Tseng_________________
Name ____Lisa C. Drake________________ Name __Huan Tseng__________________
Title ___SVP and Chief Actuary_______ Title _SVP & Chief Pricing Officer
Date _____6/23/08____________________ Date ___June 12, 2008______________
SCHEDULE B-1
ANNUITY CONTRACTS Subject to this Reinsurance Agreement
PERSPECTIVE II
o VA220NY replaced VA250NY 05/04 effective 10/4/2004.
o This product has two Contract options:
o Separate Account Investment Division option; and
o Fixed Account Option.
A) SEPARATE ACCOUNT INVESTMENT DIVISION OPTION
o This option allows the Owner to allocate Premiums and earnings to one or
more Investment Divisions of the Separate Account.
o JNLNY Separate Account I is used for this Contract.
o The Separate Account invests in shares of one of the corresponding Funds of
the underlying fund of the JNL Series Trust, JNL Variable Fund LLC, and
JNLNY Variable Fund I LLC (see Schedule B-2).
B ) GUARANTEED MINIMUM INCOME BENEFITS
FORM NUMBER POLICY DESCRIPTION
7452NY FutureGuard - effective 5/3/2004
7485NY FutureGuard - effective 5/2/2005
7485ANY FutureGuard - effective 1/17/2006
7485ANY Unisex FutureGuard - effective 1/17/2006
7551ANY FutureGuard 6 - effective October, 2008
7551ANY Unisex FutureGuard 6 - effective October, 2008
C) OPTIONAL BENEFITS
FORM NUMBER POLICY DESCRIPTION
7349NY 04/03 Additional Free Withdrawal 20% of Premium
7343NY 04/03 Shortened W/D Charge Period (5 year)
7429NY Shortened W/D Charge Period (3 year) -
not available for contracts issued after 4/30/2006
7346NY 05/04 Premium Credit (4%)
7348NY 08/03 Premium Credit (2%)
7348NY 03/05 Premium Credit (2%)
7352NY 08/03 Premium Credit (3%)
7352NY 03/05 Premium Credit (3%)
7470NY Death Benefit Option (Highest Anniversary Value)
7512NY Death Benefit Option (Highest Anniversary Value)
effective 1/16/2007
PERSPECTIVE L SERIES
o VA210NY is an individual flexible premium variable and fixed annuity
A) SEPARATE ACCOUNT INVESTMENT DIVISION OPTION
o This option allows the Owner to allocate Premiums and earnings to one or
more Investment Divisions of the Separate Account.
o JNLNY Separate Account I is used for this Contract.
o The Separate Account invests in shares of one of the corresponding Funds of
the underlying fund of the JNL Series Trust, JNL Variable Fund LLC, and
JNLNY Variable Fund I LLC (see Schedule B-2).
B) GUARANTEED MINIMUM INCOME BENEFITS
FORM NUMBER POLICY DESCRIPTION
7485NY FutureGuard
7485ANY FutureGuard - effective 1/17/2006
7485ANY Unisex FutureGuard - effective 1/17/2006
7551ANY FutureGuard 6 - effective October, 2008
7551ANY Unisex FutureGuard 6 - effective October, 2008
C) OPTIONAL BENEFITS
FORM NUMBER POLICY DESCRIPTION
7346NY 05/04 Premium Credit (4%)
7348NY 08/03 Premium Credit (2%)
7348NY 03/05 Premium Credit (2%)
7352NY 08/03 Premium Credit (3%)
7352NY 03/05 Premium Credit (3%)
7381NY Reduced Administration Charge
7470NY Death Benefit Option (Highest Anniversary Value)
7512NY Death Benefit Option (Highest Anniversary Value)
effective 1/16/2007
PERSPECTIVE ADVISORS II
o VA410NY is an individual flexible premium variable and fixed annuity
A) SEPARATE ACCOUNT INVESTMENT DIVISION OPTION
o This option allows the Owner to allocate Premiums and earnings to one or
more Investment Divisions of the Separate Account.
o Separate Account I is used for this Contract.
o The Separate Account invests in shares of one of the corresponding Funds of
the underlying fund of the JNL Series Trust, JNL Variable Fund LLC, and
JNLNY Variable Fund I LLC (see Schedule B-2).
B) GUARANTEED MINIMUM INCOME BENEFITS
FORM NUMBER POLICY DESCRIPTION
7485NY FutureGuard
7485ANY FutureGuard - effective 1/17/2006
7485ANY Unisex FutureGuard - effective 1/17/2006
7551ANY FutureGuard 6 - effective October, 2008
7551ANY Unisex FutureGuard 6 - effective October, 2008
C) OPTIONAL BENEFITS
FORM NUMBER POLICY DESCRIPTION
7460NY Premium Credit (2%)
7470NY Death Benefit Option (Highest Anniversary Value)
7512NY Death Benefit Option (Highest Anniversary Value)
effective 1/16/2007
JNL NY ACE 2005 TREATY SCHEDULE B-1 AMENDMENT # 9
SCHEDULE C-2
Limits and Rules of the REINSURER
1) The REINSURER's liability cannot be increased as a result of CEDING
COMPANY's actions with respect to contested claims.
2) The REINSURER will not be liable for extracontractual damages (whether they
constitute compensatory damages, statutory penalties, exemplary or punitive
damages) which are awarded against the CEDING COMPANY.
3) The REINSURER's liability to accept new business hereunder could end before
February 28, 2010. The REINSURER's liability to accept new business
hereunder will end on the BUSINESS DAY when the cumulative RETAIL ANNUITY
PREMIUMS for the ACTIVE CONTRACTS exceed $XXX million, unless extended by
mutual written agreement. RETAIL ANNUITY PREMIUMS paid on an ANNUITY
CONTRACTs subsequent to the date on which the REINSURER's liability to
accept new business ends are not included when calculating the limits
provided in this Paragraph.
4) A contract where a spousal continuation occurs will be subject to this
Agreement and not characterized as new business as described in paragraph 3
of this section.
JNL NY ACE 2005 TREATY SCHEDULE C 2 AMENDMENT # 9
SCHEDULE D
QUARTERLY REINSURANCE PREMIUM RATE
The QUARTERLY REINSURANCE PREMIUM RATE, subject to the terms and conditions of
this Agreement, is shown in the table below for each GMIB TYPE, applies to all
CONTRACT TYPEs, and is guaranteed while the reinsurance coverage is in effect.
GMIB TYPE FORM NUMBER QUARTERLY REINSURANCE PREMIUM RATE
--------------------- ----------------------------------
7452NY, 7485NY, 7485ANY, 7485ANY Unisex .XXXXX
7551ANY, 7551ANY Unisex .XXXXX
JNL NY ACE 2005 TREATY SCHEDULE D AMENDMENT # 9
SCHEDULE F-1
DOLLAR CLAIM LIMIT RATE
The Dollar Claim Rate is shown in the table below for each GMIB TYPE and applies
to all CONTRACT TYPEs.
GMIB TYPE FORM NUMBER DOLLAR CLAIM LIMIT RATE
--------------------- -----------------------
7452NY, 7485NY, 7485ANY, 7485ANY Unisex .XX
7551ANY, 7551ANY Unisex .XX
JNL NY ACE 2005 TREATY SCHEDULE F-1 AMENDMENT # 9
SCHEDULE F-2
FORMULA CLAIM LIMIT RATE
The FORMULA CLAIM LIMIT RATE is shown in the table below for each GMIB TYPE and
applies to each ANNUITY CONTRACT on all MONTHLY VALUATION DATES prior to the
ANNUITY CONTRACT's eligibility to annuitize under the GMIB TYPE.
GMIB TYPE FORM NUMBER FORMULA CLAIM LIMIT RATE
7452NY, 7485NY, 7485ANY, 7485ANY Unisex X.XXXXX
7551ANY, 7551ANY Unisex X.XXXXX
JNL NY ACE 2005 TREATY SCHEDULE F-2 AMENDMENT # 9
