Exhibit 1-A(8)(c)(3)
AMENDMENT NO. 3
The Modified Coinsurance Agreement between American Franklin Life Insurance
Company of Springfield, Illinois and Integrity Life Insurance Company of
Phoenix, Arizona, effective April 1, 1989, is amended by replacing Schedule II
(revised 4-12-90) with the attached Schedule II (revised 7-1-93).
AMERICAN FRANKLIN LIFE INSURANCE COMPANY
By: By:
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Title: Executive Vice President and Title: Senior Vice President, General
Actuary Counsel and Secretary
Date: August 9, 1993 Date: August 9, 1993
INTEGRITY LIFE INSURANCE COMPANY
By: By:
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Title: Senior Vice President and CFO Title:
Date: August 26, 1993 Date: August 26, 1993
SCHEDULE II (revised 7-1-93)
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AMOUNT OF REINSURANCE
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The portion of the risk reinsured under this Agreement shall be 30% on any
policy to the extent reinsured hereunder, as provided in Schedule I, in
accordance with the following rules:
1. There shall be no reinsurance on any benefit under this Agreement
where the REINSURED does not retain its normal retention of risk on a
policy hereunder,
2. There shall be no reinsurance on policies: (a) originally written
under Franklin Life; (b) not reinsured by Franklin Life; and (c) where
the original underwriting occurred over five years prior to submission
of the case to American Franklin.
3. There shall be no reinsurance on policies originally issued by
Franklin Life Insurance Company and originally reinsured by Franklin
Life under other reinsurance agreements.
4. There shall be no reinsurance on an automatic basis for any risk
offered on a facultative basis by the reinsured to any company.
5. There shall be no reinsurance on policies issued in the State of
California.
