FACULTATIVE REINSURANCE AGREEMENTReinsurance Agreement • April 29th, 2003 • Farm Bureau Life Variable Account
EXHIBIT 99.7C YEARLY RENEWABLE TERM REINSURANCE AGREEMENT EFFECTIVE AS OF MARCH 14, 1996Yearly Renewable Term Reinsurance Agreement • April 29th, 2003 • Farm Bureau Life Variable Account
REINSURANCE COVERAGE A. Farm Bureau agrees to cede, and Lincoln agrees to accept, reinsurance of the Policies specified in the Life Benefits Schedule. (The term "Policies" and certain other terms used in this Agreement are defined in the "Definitions" article.) B. The death benefits provided by the Policies are reinsured. Supplemental benefits are reinsured if and as specified in applicable Addenda. C. Farm Bureau agrees to either (1) cede reinsurance of a Policy to Lincoln as Automatic Reinsurance; (2) submit the Policy to Lincoln for consideration as Facultative Reinsurance; or (3) cede reinsurance of a Policy as a Continuation. AUTOMATIC REINSURANCE A. Farm Bureau agrees to cede the Reinsurance Amount of a Policy as Automatic Reinsurance if the following conditions are met: (1) it retains its Retention on the insured life when the Policy is issued; (2) it underwrites and issues the Policy in accordance with its normal individual life insurance underwriting rules and practices previo
