Exhibit (g)(7)
REINSURANCE
AGREEMENT
Between
IDS LIFE INSURANCE COMPANY
and
[name of reinsurance company]
Inspected By [INITIALS]
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Date 8/29/90
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Doc. U81352
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TABLE OF CONTENTS
PAGE
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I. REINSURANCE COVERAGE 1
II. REINSURANCE LIMITS 3
III. PLACING REINSURANCE IN EFFECT 4
IV. COMPUTATION OF REINSURANCE PREMIUMS 5
V. PAYMENT OF REINSURANCE PREMIUMS 6
VI. SETTLEMENT OF CLAIMS 7
VII. CONDITIONAL RECEIPT REINSURANCE 9
VIII. EXPERIENCE REFUNDS 10
IX. PREMIUM TAX REIMBURSEMENT 10
X. POLICY CHANGES 10
XI. REINSTATEMENTS 10
XII. EXPENSES 10
XIII. REDUCTIONS 11
XIV. INSPECTION OF RECORDS 11
XV. INCREASE IN LIMIT OF RETENTION 11
XVI. ERRORS 13
XVII. ARBITRATION 13
XVIII. CHOICE OF LAW AND FORUM 14
XIX. INSOLVENCY 14
XX. PARTIES TO AGREEMENT 15
XXI. AGREEMENT 15
XXII. EXECUTION AND DURATION OF AGREEMENT 15
SCHEDULES
SUBJECT REINSURANCE SCHEDULE 17
RETENTION SCHEDULE 19
LIMITS SCHEDULE 20
ADMINISTRATIVE FORMS SCHEDULE 21
CONDITIONAL RECEIPT SCHEDULE 22
PREMIUM SCHEDULE 23
ARBITRATION SCHEDULE 25
REINSURANCE AGREEMENT
between
IDS LIFE INSURANCE COMPANY
of
Minneapolis, Minnesota,
hereinafter referred to as the "REINSURED," and
[name of reinsurance company]
of
[city and state of reinsurance company]
hereinafter referred to as the "[name of reinsurance company]."
I. REINSURANCE COVERAGE
A. On the basis hereinafter stated, the REINSURED'S excess as specified
in the Subject Reinsurance Schedule of individual ordinary life and
waiver of premium disability insurance issued by the REINSURED on
the policy forms listed in the Subject Reinsurance Schedule shall be
reinsured with the [name of reinsurance company] automatically,
shall be submitted to the [name of reinsurance company] on a
facultative basis, or shall be reinsured with the [name of
reinsurance company] 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 (1)
in compliance with the terms of the original policy or (2) without
the same new underwriting information the REINSURED would obtain in
the absence of the original policy, without a suicide exclusion
period or a 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.
B. Subject to the "CONDITIONAL RECEIPT REINSURANCE" article and, in the
case of facultative submissions for reinsurance, to the REINSURED'S
accepting the [name of reinsurance company]'s offer to reinsure, the
liability of the [name of reinsurance company] shall begin
simultaneously with that of the REINSURED. In no event shall the
reinsurance be in force and binding unless the insurance issued
directly by the REINSURED is in force and unless the issuance and
delivery of
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such insurance constituted the doing of business in a jurisdiction
in which the REINSURED was properly licensed.
C. Life reinsurance under this agreement shall be term insurance for
the Reinsured Net Amount at Risk. The Reinsured Net Amount at Risk
(RNAR) shall be defined as follows.
(1) For Universal Life and Whole Life policies, the RNAR
shall be defined as the policy's total net amount at
risk less the REINSURED'S retention at issue. For Whole
Life policies, the policy net amount at risk will be
approximated as the face amount less l/20th of the 20th
year cash value for each complete year the policy is in
force.
(2) For Term policies and Other Insured riders, the RNAR
shall be defined as the face amount less the REINSURED'S
retention at issue.
The basis for determining the amount at risk may be changed for new
reinsurance by agreement between the REINSURED and the [name of
reinsurance company].
D. If the face amount of the policy changes, the portion reinsured
hereunder shall continue to be determined as described in section C
of this article. If the face amount increases subject to the
approval of the REINSURED, provisions of the "REINSURANCE LIMITS"
article hereof shall apply to the increase in reinsurance hereunder.
If the face amount increases and such increase is not subject to the
REINSURED'S approval, the [name of reinsurance company] shall accept
automatically increases in reinsurance arising from such increases
in the face amount.
E. Reinsurance of Disability insurance shall follow the original forms
of the REINSURED.
F. Life reinsurance in amounts less than the amount at risk upon
[dollar amount] of insurance shall not be placed in effect under
this agreement.
G. If the REINSURED issues a policy as a continuation of a policy
reinsured under this agreement, reinsurance of the continuation
shall continue with the [name of reinsurance company]. Such
reinsurance shall be in effect under the reinsurance agreement
between the REINSURED and the [name of reinsurance company] which
provides reinsurance of the policy form issued as a continuation if
there is such an agreement in effect on the effective date of
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the continuation; otherwise, reinsurance shall be in effect under
the terms of this agreement.
H. The amount of reinsurance under this agreement shall be maintained
in force without reduction so long as the amount of insurance
carried by the REINSURED on the life remains in force without
reduction, except as provided in the "PAYMENT OF REINSURANCE
PREMIUMS" and "INCREASE IN LIMIT OF RETENTION" articles.
II. REINSURANCE LIMITS
A. If the following requirements are met, reinsurance may be ceded
automatically under this agreement in amounts not to exceed those
specified in the Limits Schedule.
(1) The REINSURED shall retain its limit of retention.
(2) The sum of the amount of insurance already in force on
that life in the REINSURED and the amount applied for
from the REINSURED on the current application shall not
exceed the sum of the appropriate automatic limit shown
in the Limits Schedule, and the REINSURED'S maximum
limit of retention for the mortality class, plan of
insurance, and age at issue on the current application.
(3) The sum of the amount of insurance already in force on
the life and the amount applied for currently, in all
companies, shall not exceed the following amounts.
Ages Life Insurance
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[ages] [dollar amount]
[ages] [dollar amount]
[ages] [dollar amount]
Ages Waiver of Premium
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[ages] [dollar amount]
[ages] [dollar amount]
(4) The REINSURED has not made facultative application for
reinsurance of the current application.
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(5) The policy was issued in accordance with the REINSURED'S
normal individual ordinary life underwriting rules and
practices.
(6) The policy is not a continuation.
B. If the requirements in section A of this article are not met or if
the REINSURED prefers to do so, it shall make an application for
reinsurance under this agreement on a facultative basis for all
issues specified in the Subject Reinsurance Schedule other than
continuations; the REINSURED may, at its option, make application
for reinsurance under this agreement on a facultative basis for
other issues.
C. The [name of reinsurance company] shall have no liability under
facultative applications for reinsurance unless the REINSURED has
accepted the [name of reinsurance company]'s offer to reinsure.
D. Continuations shall be reinsured under this agreement only if the
original policy was reinsured with the [name of reinsurance
company]; the amount of the reinsurance under this agreement shall
not exceed the amount of reinsurance of the original policy with the
[name of reinsurance company] immediately prior to the new issue or
change.
III. PLACING REINSURANCE IN EFFECT
A. To effect reinsurance, the REINSURED shall, within fifteen working
days after the end of each month, mail to the [name of reinsurance
company] a report in substantial accord with the appropriate forms
of the Administrative Forms Schedule.
B. The REINSURED shall send to the [name of reinsurance company],
within seven working days after the end of each quarter, a report in
substantial accord with the appropriate forms of the Administrative
Forms Schedule.
C. When the REINSURED submits a risk to the [name of reinsurance
company] for reinsurance upon a facultative basis, a facultative
application for such reinsurance shall be made on a form in
substantial accord with the appropriate form of the Administrative
Forms Schedule. Copies of the original applications, all medical
examinations, microscopical reports, inspection reports, and all
other information which the REINSURED may have pertaining to the
insurability of the risk shall accompany the application. Upon
receipt of such
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application, the [name of reinsurance company] shall immediately
examine the papers and shall notify the REINSURED of its
underwriting action as soon as possible.
D. All offers of reinsurance made by the [name of reinsurance company]
under this agreement shall, unless otherwise terminated by the [name
of reinsurance company], automatically terminate on the earlier of
(a) the date the [name of reinsurance company] receives notice from
the REINSURED of its withdrawal of its application and (b) the later
of (i) the date 120 days after the date the offer was made by the
[name of reinsurance company] and (ii) the date specified in the
[name of reinsurance company]'s approval of a written request from
the REINSURED to grant an extension of the offer.
IV. COMPUTATION OF REINSURANCE PREMIUMS
A. The premium to be paid to the [name of reinsurance company] for Life
reinsurance shall be the sum of:
(1) the appropriate premium rate from the schedule of
premiums in the Premium Schedule applied to the
appropriate amount at risk reinsured; plus
(2) any flat extra premium charged the insured on the face
amount initially reinsured less the following total
allowances.
Policy Year
1 2+
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Permanent Flat Extras [percentage] [percentage]
Temporary Extras* [percentage] [percentage]
*Temporary flat extras are those assessed for a period of five
years or less.
B. The portions of the reinsurance premiums described in the
subparagraphs of the preceding section shall hereinafter be referred
to as the basic premium.
C. For Universal Life plans, the premium charged the REINSURED for
increases in reinsurance hereunder described in section D of the
"REINSURANCE COVERAGE" article hereof shall be computed using the
age and date of issue of the policy if the increase in face amount
is not subject to approval of the REINSURED and using the age at and
date of the increase if the increase in face amount is subject to
the REINSURED'S approval.
D. The premium to be paid the [name of reinsurance company] for
reinsurance of Supplemental Benefits shall be as shown in the
Premium Schedule.
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E. For technical reasons relating to the uncertain status of deficiency
reserve requirements by the various state insurance departments, the
Life reinsurance rates cannot be guaranteed for more than one year.
On all reinsurance ceded at these rates, however, the [name of
reinsurance company] anticipates continuing to accept premiums on
the basis of the rates shown in the Premium Schedule.
V. PAYMENT OF REINSURANCE PREMIUMS
A. The REINSURED shall send the [name of reinsurance company] each
month a report in substantial accord with the appropriate form in
the Administrative Forms Schedule, showing all outstanding
first-year policies for which the REINSURED'S records have been
completed and all renewal reinsurance premiums on reinsurance
policies having anniversaries in the preceding.
B. The amount due the [name of reinsurance company] shall accompany
such report; if the amount is due the REINSURED, the [name of
reinsurance company] shall remit such amount to the REINSURED within
fifteen days of receipt of the report. Premiums for reinsurance
hereunder are payable at the Home Office of the [name of reinsurance
company] or any other location specified by the [name of reinsurance
company] and shall be paid on a monthly basis without regard to the
manner of payment stipulated in the policy issued by the REINSURED.
C. The payment of reinsurance premiums in accordance with the
provisions of the preceding section shall be a condition precedent
to the liability of the [name of reinsurance company] under
reinsurance covered by this agreement. In the event that reinsurance
premiums are not paid as provided in the preceding section, the
[name of reinsurance company] shall have the right to terminate the
reinsurance under all policies having reinsurance premiums in
arrears. If the [name of reinsurance company] elects to exercise its
right of termination, it shall give the REINSURED thirty days'
notice of its intention to terminate such reinsurance. If all
reinsurance premiums in arrears, including any which may become in
arrears during the thirty-day period, are not paid before the
expiration of such period, the [name of reinsurance company] shall
thereupon be relieved of future liability under all reinsurance for
which premiums remain unpaid. Policies on which reinsurance premiums
subsequently
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fall due will automatically terminate if reinsurance premiums are
not paid when due as provided in section B of this article. The
reinsurance so terminated may be reinstated at any time within sixty
days of the date of termination upon payment of all reinsurance
premiums in arrears; but, in the event of such reinstatement, the
[name of reinsurance company] shall have no liability in connection
with any claims incurred between the date of termination and the
date of reinstatement of the reinsurance. The [name of reinsurance
company]'s right to terminate reinsurance as herein provided shall
be without prejudice to its right to collect premiums for the period
reinsurance was in force prior to the expiration of the thirty-day
notice period.
D. Any payment which either the REINSURED or the [name of reinsurance
company] shall be obligated to pay to the other may be paid net of
any amount which is then due and unpaid under this agreement.
VI. SETTLEMENT OF CLAIMS
A. The REINSURED shall give the [name of reinsurance company] prompt
notice of any claim submitted on a policy reinsured hereunder and
prompt notice of the instigation of any legal proceedings in
connection therewith. Copies of proofs or other documents bearing on
such claim or proceeding shall be furnished to the [name of
reinsurance company] when requested.
B. The [name of reinsurance company] shall accept the good faith
decision of the REINSURED in settling any claim or suit and shall
pay, at its Home Office, its share of net reinsurance liability upon
receiving proper evidence of the REINSURED'S having settled with the
claimant. Payment of net reinsurance liability on account of death
or dismemberment shall be made in one lump sum. In settlement of
reinsurance liability for Waiver of Premium Disability benefits, the
[name of reinsurance company] shall pay to the REINSURED its
proportionate share of the gross premium waived.
C. If the REINSURED should contest or compromise any claim or
proceeding and the amount of net liability thereby be reduced, or if
at any time the REINSURED should recover monies from any third party
in connection with or arising out of any claim reinsured by the
[name of reinsurance company], the [name of reinsurance company]'s
reinsurance liability shall be reduced or the [name of reinsurance
company] shall share in the recovery,
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as the case may be, in the proportion that the net liability of the
[name of reinsurance company] bore to the total net liability
existing as of the occurrence of the claim. As used in this section,
"recovery" shall include, but not be limited to, settlements,
judgments, awards and insurance payments of any kind.
D. Any unusual expenses incurred by the REINSURED in defending or
investigating a claim for policy liability or in taking up or
rescinding a policy reinsured hereunder shall be participated in by
the [name of reinsurance company] in the same proportion as
described in section C, above.
E. In no event shall the following categories of expenses or
liabilities be considered, for purposes of this agreement, as
"unusual expenses" or items of "net reinsurance liability:"
(1) routine investigative or administrative expenses;
(2) expenses incurred in connection with a dispute or
contest arising out of conflicting claims of entitlement
to policy proceeds or benefits which the REINSURED
admits are payable;
(3) expenses, fees, settlements, or judgments arising out of
or in connection with claims against the REINSURED for
punitive or exemplary damages;
(4) expenses, fees, settlements, or judgments arising out of
or in connection with claims made against the REINSURED
and based on alleged or actual bad faith, failure to
exercise good faith, or tortious conduct.
F. For purposes of this agreement, penalties, attorney's fees, and
interest imposed automatically by statute against the REINSURED and
arising solely out of a judgment being rendered against the
REINSURED in a suit for policy benefits reinsured hereunder shall be
considered "unusual expenses."
G. In the event that the amount of insurance provided by a policy or
policies reinsured hereunder is increased or reduced because of a
misstatement of age or sex established after the death of the
insured, the net reinsurance liability of the [name of reinsurance
company] shall increase or reduce in the proportion that the net
reinsurance liability of the [name of reinsurance company] bore to
the sum of the net retained liability of the REINSURED and the net
liability of other reinsurers immediately prior to the
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discovery of such misstatement of age or sex. Reinsurance policies
in force with the [name of reinsurance company] shall be reformed on
the basis of the adjusted amounts, using premiums and reserves
applicable to the correct age and sex. Any adjustment in reinsurance
premiums shall be made without interest.
H. The [name of reinsurance company] shall refund to the REINSURED any
reinsurance premiums, without interest, unearned as of the date of
death of the life reinsured hereunder.
I. If the REINSURED pays interest from a specified date, such as the
date of death of the insured, on the contractual benefit of a policy
reinsured under this agreement, the [name of reinsurance company]
shall indemnify the REINSURED for the [name of reinsurance
company]'s share of such interest. Interest paid by the [name of
reinsurance company] under this section shall be computed at the
same rate and commencing as of the same date as that paid by the
REINSURED. The computation of interest paid by the [name of
reinsurance company] under this section shall cease as of the
earlier of (1) the date of payment of the [name of reinsurance
company]'s share of reinsurance liability and (2) the date of
termination of the period for which the REINSURED has paid such
interest.
VII. CONDITIONAL RECEIPT REINSURANCE
A. Subject to the terms, conditions, and limits of this Agreement and
provided the conditions set forth in Section B of this article are
fulfilled, [name of reinsurance company] shall reimburse the
REINSURED for a claim in excess of the appropriate retention set
forth in the Retention Schedule paid by the REINSURED pursuant to a
conditional receipt, except that in no event shall [name of
reinsurance company]'s liability pursuant to this article exceed
one-third of [dollar amount].
B. The following conditions must be satisfied in order for reinsurance
of a conditional receipt to be effective:
(1) the REINSURED must become liable for a claim pursuant to
a conditional receipt issued in a form in conformity to
the appropriate form of the Conditional Receipt Schedule
of this Agreement; and
(2) the conditional receipt must be given in return for an
application on the life of an insured having a surname
beginning with the letters of the alphabet specified in
the Subject Reinsurance Schedule, for a policy form
listed
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in the Subject Reinsurance Schedule, and which would
bear a register date in the range set forth in the
Subject Reinsurance Schedule; and
(3) either the policy being applied for must qualify for
automatic reinsurance or the REINSURED has not received
a facultative offer of reinsurance on the application
from another reinsurer which is a better offer than any
facultative offer made by [name of reinsurance company].
VIII. EXPERIENCE REFUNDS
Reinsurance hereunder shall not be considered for experience refunds.
IX. PREMIUM TAX REIMBURSEMENT
The [name of reinsurance company] shall not reimburse the REINSURED for
any taxes the latter may be required to pay with respect to reinsurance
hereunder.
X. POLICY CHANGES
If a change is made in the policy issued by the REINSURED to the insured
which affects reinsurance hereunder, the REINSURED shall immediately
notify the [name of reinsurance company] of such change.
XI. REINSTATEMENTS
If a policy reinsured hereunder lapses for nonpayment of premium and is
reinstated in accordance with its terms and the rules of the REINSURED,
the [name of reinsurance company] shall automatically reinstate its
reinsurance under such policy. The REINSURED shall mail notice of the
reinstatement to the [name of reinsurance company] not later than the
tenth working day after the reinstatement of the original policy. The
REINSURED shall pay the [name of reinsurance company] all reinsurance
premiums in arrears in connection with the reinstatement with interest at
the same rate and in the same manner as the REINSURED received under its
policy.
XII. EXPENSES
The REINSURED shall bear the expense of all medical examinations,
inspection fees, and other charges incurred in connection with the
original policy.
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XIII. REDUCTIONS
A. Except as provided in section C of the "REINSURANCE COVERAGE"
article hereof, if a portion of the insurance issued by the
REINSURED on a life reinsured hereunder is terminated, reinsurance
on that life hereunder shall be reduced as hereinafter provided to
restore, as far as possible, the retention level of the REINSURED on
the risk, provided, however, that the REINSURED shall not assume on
any policy being adjusted as provided in this article an amount of
insurance in excess of the higher of, for the retention category of
that policy, (1) its retention limit at the time of the issue of
that policy and (2) the retention limit of that policy as already
adjusted by the provisions of the "INCREASE IN LIMIT OF RETENTION"
article. The reduction in reinsurance shall first be applied to the
reinsurance, if any, of the specific policy under which insurance
terminated. The reinsurance of the [name of reinsurance company]
shall be reduced by an amount which is the same proportion of the
amount of reduction so applied as the reinsurance of the [name of
reinsurance company] on the policy bore to the total reinsurance of
the policy. The balance, if any, of the reduction shall be applied
to reinsurance of other policies on the life, the further reduction,
if any, in the reinsurance of the [name of reinsurance company]
again being determined on a proportional basis.
B. The [name of reinsurance company] shall return to the REINSURED any
basic life reinsurance premiums and any reinsurance premiums for
Supplemental Benefits, without interest thereon, paid to the [NAME
OF REINSURANCE COMPANY] for any period beyond the date of reduction
of reinsurance hereunder.
XIV. INSPECTION OF RECORDS
The [name of reinsurance company] shall have the right at any reasonable
time to inspect, at the office of the REINSURED, all books and documents
relating to the reinsurance under this agreement.
XV. INCREASE IN LIMIT OF RETENTION
A. The REINSURED may increase its limit of retention and may elect,
subject to the other provisions of this article, to: (1) continue
unchanged reinsurance then in force under this
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agreement; (2) make reductions in both standard and substandard
reinsurance then in force under this agreement; or (3) make
reductions in standard reinsurance then in force under this
agreement. The increased limit of retention shall be effective with
respect to new reinsurance on the date specified by the REINSURED
subsequent to written notice to the [name of reinsurance company].
Such written notice shall specify the new limit of retention, the
effective date thereof, and the election permitted by the first
sentence of this section. If the REINSURED makes election (2) or
(3), the amount of reinsurance shall be reduced, except as
hereinafter provided, to the excess, if any, over the REINSURED'S
new limit of retention.
B. No reduction shall be made in the amount of any reinsurance policy
unless the REINSURED retained its maximum limit of retention for the
plan, age, and mortality classification at the time the policy was
issued, nor shall reductions be made unless held by the REINSURED at
its own risk without benefit of any proportional or nonproportional
reinsurance other than catastrophe accident reinsurance. In the case
of Life and Disability reinsurance, no reduction shall be made in
any class of reinsurance fully reinsured. No reduction shall be made
in any Supplemental Benefits reinsured on a Life reinsurance cession
unless the Life reinsurance is also being reduced as described
hereunder. The plan, age, and mortality classification at issue
shall be used to determine the REINSURED'S new retention on any life
on which reinsurance policies are reduced in accordance with the
provisions of this article.
C. The reduction in each reinsurance policy shall be effective upon the
reinsurance renewal date of that policy first following the
effective date of the increased limit of retention or upon the
twentieth reinsurance renewal date of the reinsurance policy, if
later. If there is reinsurance in other reinsurers on a life on whom
a reinsurance policy will be reduced hereunder, the [name of
reinsurance company] shall share in the reduction in the proportion
that the amount of reinsurance of the [name of reinsurance company]
on the life bore to the amount of reinsurance of other reinsurers on
the life.
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D. In the event the REINSURED overlooks any reduction in the amount of
a reinsurance policy which should have been made on account of an
increase in the REINSURED'S limit of retention, the acceptance by
the [NAME OF REINSURANCE COMPANY] of reinsurance premiums under such
circumstances and after the effective date of the reduction shall
not constitute or determine a liability on the part of the [NAME OF
REINSURANCE COMPANY] for such reinsurance. The [NAME OF REINSURANCE
COMPANY] shall be liable only for a refund of premiums so received,
without interest.
XVI. ERRORS
If either the REINSURED or the [NAME OF REINSURANCE COMPANY] shall fail to
perform an obligation under this agreement and such failure shall be the
result of an error on the part of the REINSURED or the [NAME OF
REINSURANCE COMPANY], such error shall be corrected by restoring both the
REINSURED and the [NAME OF REINSURANCE COMPANY] to the positions they
would have occupied had no such error occurred; an "error" is a clerical
mistake made inadvertently and excludes errors of judgment and all other
forms of error.
XVII. ARBITRATION
It is the intention of the REINSURED and the [NAME OF REINSURANCE COMPANY]
that the customs and practices of the insurance and reinsurance industry
shall be given full effect in the operation and interpretation of this
Agreement. The parties agree to act in all things with the highest good
faith. If the REINSURED and the [NAME OF REINSURANCE COMPANY] cannot
mutually resolve a dispute which arises out of or relates to this
Agreement, however, the dispute shall be decided through arbitration as
set forth in the Arbitration Schedule. The arbitrators shall base their
decision on the terms and conditions of this Agreement plus, as necessary,
on the customs and practices of the insurance and reinsurance industry
rather than solely on a strict interpretation of the applicable law. There
shall be no appeal from their decision, except that either party may
petition a court having jurisdiction over the parties and the subject
matter to reduce the arbitrator's decision to judgment.
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XVIII. CHOICE OF LAW AND FORUM
Indiana law shall govern the terms and conditions of the Agreement. In the
case of an arbitration, the arbitration hearing shall take place in [city
and state of reinsurance company], and the [state] Uniform Arbitration Act
shall control except as provided in the "ARBITRATION" article.
XIX. INSOLVENCY
A. In the event of the insolvency of the REINSURED, all reinsurance
shall be payable directly to the liquidator, receiver, or statutory
successor of said REINSURED, without diminution because of the
insolvency of the REINSURED.
B. In the event of the insolvency of the REINSURED, the liquidator,
receiver, or statutory successor shall give the [NAME OF REINSURANCE
COMPANY] written notice of the pendency of a claim on a policy
reinsured within a reasonable time after such claim is filed in the
insolvency proceeding. During the pendency of any such claim, the
[NAME OF REINSURANCE COMPANY] may investigate such claim and
interpose, in the name of the REINSURED (its liquidator, receiver,
or statutory successor), but at its own expense, in the proceeding
where such claim is to be adjudicated, any defense or defenses which
the [NAME OF REINSURANCE COMPANY] may deem available to the
REINSURED or its liquidator, receiver, or statutory successor.
C. The expense thus incurred by the [NAME OF REINSURANCE COMPANY] shall
be chargeable, subject to court approval, against the REINSURED as
part of the expense of liquidation to the extent of a proportionate
share of the benefit which may accrue to the REINSURED solely as a
result of the defense undertaken by the [NAME OF REINSURANCE
COMPANY]. Where two or more reinsurers are participating in the same
claim and a majority in interest elect to interpose a defense or
defenses to any such claim, the expense shall be apportioned in
accordance with the terms of the reinsurance agreement as though
such expense had been incurred by the REINSURED.
D. Any debts or credits, matured or unmatured, liquidated or
unliquidated, regardless of when they arose or were incurred, in
favor of or against either the REINSURED or the [NAME OF REINSURANCE
COMPANY] with respect to this agreement or with respect to any other
claim of one party against the other are deemed mutual debts
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or credits, as the case may be, and shall be set off, and only the
balance shall be allowed or paid.
XX. PARTIES TO AGREEMENT
This is an agreement for indemnity reinsurance solely between the
REINSURED and the [NAME OF REINSURANCE COMPANY]. The acceptance of
reinsurance hereunder shall not create any right or legal relation
whatever between the [NAME OF REINSURANCE COMPANY] and the insured or the
beneficiary under any policy reinsured hereunder.
XXI. AGREEMENT
This Agreement represents the entire contract between the REINSURED and
the [NAME OF REINSURANCE COMPANY] and supersedes, with respect to its
subject, any prior oral or written agreements.
XXII. EXECUTION AND DURATION OF AGREEMENT
The provisions of this reinsurance agreement shall be effective with
respect to policies for which the date on which application was first made
to the REINSURED is on or after the first day of April, 1990, but in no
event shall this agreement become effective unless and until it has been
duly executed by two officers of the [NAME OF REINSURANCE COMPANY] and its
Home Office in Fort ▇▇▇▇▇, Indiana. This agreement shall be unlimited as
to its duration but may be terminated at any time, insofar as its pertains
to the handling of new reinsurance thereafter, by either party giving
three months' notice of termination in writing. The [NAME OF REINSURANCE
COMPANY] shall continue to accept reinsurance during the three months
aforesaid and shall remain liable on all reinsurance granted under this
agreement until the termination or expiry of the insurance reinsured.
-15-
IN WITNESS WHEREOF the said
IDS LIFE INSURANCE COMPANY
of
Minneapolis, Minnesota,
and the said
[name of reinsurance company]
of
[city and state of reinsurance company]
have by their respective officers executed and delivered these presents in
duplicate on the dates shown below.
IDS LIFE INSURANCE COMPANY
Signed at Minneapolis Minnesota
By /s/ [ILLEGIBLE] By /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
-------------------------------------------- ----------------------------------------
Title Vice President - Finance Title Vice President - Insurance Products
-------------------------------------------- ----------------------------------------
Date 9/13/90 Date 9/13/90
-------------------------------------------- ----------------------------------------
[name of reinsurance company]
Signed at [city and state of reinsurance company]
By [signature] By [signature]
-------------------------------------------- ----------------------------------------
[title] [title]
Date 10/14/90 Date October 11, 1990
-------------------------------------------- ----------------------------------------
-16-
SUBJECT REINSURANCE SCHEDULE
Insurance Subject to Reinsurance under this Agreement
The REINSURED'S entire excess of its issues of the following plans bearing
application dates in the range shown below to insureds having surnames beginning
with the letters of the alphabet shown below.
A. [percentage] of the reinsurance the REINSURED cedes automatically of the
insurance specified below shall be ceded under this agreement.
Dates Letters
Plan From Through From Through
---- ---- ------- ---- -------
UL25 04-01-90 -- A Z
UL100 04-01-90 -- A Z
UL500 04-01-90 -- A Z
▇▇▇ ▇▇-▇▇-▇▇ -- ▇ ▇
▇▇▇▇▇ 04-01-90 -- A Z
EUL100 04-01-90 -- A Z
Other Insured Riders (OIR) 04-01-90 -- A Z
Waiver of Monthly Deductions (WMD) Rider 04-01-90 -- A Z
Whole Life 04-01-90 -- A Z
Annual Reducing Term (ART) Rider 04-01-90 -- A Z
Waiver of Premium (WP) Rider 04-01-90 -- A Z
YRT 04-01-90 -- A Z
YRT-7 04-01-90 -- A Z
10 Year Renewable Term 04-01-90 -- A Z
ART Rider 04-01-90 -- A Z
Waiver of Premium Rider 04-01-90 -- A Z
ART 04-01-90 -- A Z
Mortgage Term 04-01-90 -- A Z
ART Rider 04-01-90 -- A Z
Waiver of Premium Rider 04-01-90 -- A Z
-17-
SUBJECT REINSURANCE SCHEDULE (CONTINUED)
B. [percentage] of the reinsurance the REINSURED cedes facultatively of the
insurance specified below shall be ceded under this agreement provided the
REINSURED has accepted the [NAME OF REINSURANCE COMPANY]'S offer to
reinsure.
Dates Letters
Plan From Through From Through
---- ---- ------- ---- -------
UL25 04-01-90 -- A Z
UL100 04-01-90 -- A Z
UL500 04-01-90 -- A Z
▇▇▇ ▇▇-▇▇-▇▇ -- ▇ ▇
▇▇▇▇▇ 04-01-90 -- A Z
EUL100 04-01-90 -- A Z
Other Insured Riders (OIR) 04-01-90 -- A Z
Waiver of Monthly Deductions (WMD) Rider 04-01-90 -- A Z
Whole Life 04-01-90 -- A Z
Annual Reducing Term (ART) Rider 04-01-90 -- A Z
Waiver of Premium (WP) Rider 04-01-90 -- A Z
YRT 04-01-90 -- A Z
YRT-7 04-01-90 -- A Z
10 Year Renewable Term 04-01-90 -- A Z
ART Rider 04-01-90 -- A Z
Waiver of Premium Rider 04-01-90 -- A Z
ART 04-01-90 -- A Z
Mortgage Term 04-01-90 -- A Z
ART Rider 04-01-90 -- A Z
Waiver of Premium Rider 04-01-90 -- A Z
C. Continuations to the insurance specified above shall be ceded under this
agreement provided the original policy was reinsured with the [NAME OF
REINSURANCE COMPANY] under this or another agreement. The percentage of
reinsurance ceded to [NAME OF REINSURANCE COMPANY] shall equal the
percentage of the original policy ceded to [NAME OF REINSURANCE COMPANY].
-18-
RETENTION SCHEDULE
Retention Limits of the REINSURED
Life
Ages Standard-Table P
---- ----------------
All [dollar amount]
The above retention limit may be exceeded by as much as $75,000 in order to
avoid reinsurance.
Waiver of Premium Disability
Same as Life
-19-
LIMITS SCHEDULE
Maximum Amounts which the REINSURED may cede Automatically
Life
To [NAME OF REINSURANCE COMPANY]:
Ages Standard-Table P Over Table P
---- ---------------- ------------
[ages] [dollar amount] [dollar amount]
[ages] [dollar amount] [dollar amount]
To all Reinsurers:
Ages Standard-Table P Over Table P
---- ---------------- ------------
[ages] [dollar amount] [dollar amount]
[ages] [dollar amount] [dollar amount]
Waiver of Premium Disability
To [NAME OF REINSURANCE COMPANY]:
Ages Standard-Table P Over Table P
---- ---------------- ------------
[ages] [dollar amount] [dollar amount]
[ages] [dollar amount] [dollar amount]
To all Reinsurers:
Ages Standard-Table P Over Table P
---- ---------------- ------------
[ages] [dollar amount] [dollar amount]
[ages] [dollar amount] [dollar amount]
-20-
ADMINISTRATIVE FORMS SCHEDULE
Facultative Application
Policy Detail Report
Summary Premium Report
Policy Exhibit
Quarterly Reserve Report
-21-
CHECK: ___ Automatic or ___ Facultative TRANSACTION TYPE ______ APPLICATION TO:
___ RPR or ___ Coinsurance (See Reverse Side)
___ Medical or ___ Non-Medical
[logo]
----------
| STATE OF |
------------------------------------------------------------------------------------------------------------------------------------
INSURED'S NAME SEX BIRTHDATE BIRTH RESIDENCE OCCUPATION ISSUE AGE AGE BASIS
------------------------------------------------------------------------------------------------------------------------------------
JOINT INSURED SEX BIRTHDATE BIRTH RESIDENCE OCCUPATION ISSUE AGE JOINT AGE
------------------------------------------------------------------------------------------------------------------------------------
ORIGINAL POLICY NO. ISSUE DATE DATE OF APP SHORT TERM FROM PLAN(S) RATE BOOKED RESERVE BASIS
------------------------------------------------------------------------------------------------------------------------------------
CEDING COMPANY > Check Reins. Prem. Type: ___ SMOKER
___ NON-SMOKER ___ AGGREGATE ___ OTHER PREF
------------------------------------------------------------------------------------------------------------------------------------
Will Policy Contain:
LIFE __ Aviation Exclusion Provision
BASE PLAN TERM RIDER DIS ADB __ Guaranteed Insurability Option
PREVIOUS IN FORCE $ $ $ $ __ Increasing Insurance Rider
----------- ----------- ---------- ---------- __ Term Insurance Dividend Option
PREVIOUS RETAINED (Is option limited to cash value
----------- ----------- ---------- ---------- ___ Yes ___ No)
ISSUED THIS POLICY __ Check if Applicant has withheld MIB
----------- ----------- ---------- ---------- Authorization
RETAINED THIS POLICY
----------- ----------- ---------- ----------
RATING, IF SUBSTANDARD
----------- ----------- ---------- ----------
REINSURED THIS CESSION
----------- ----------- ---------- ----------
====================================================================================================================================
FACULTATIVE UNDERWRITING DATA
Underwriting Papers: Check Appropriate Column Reason for submitting Facultatively:
___ Over Automatic Limit ___ Medical Reasons
Data Not ___ Financial Reasons ___ Other Non-Medical
Attached Outstanding Obtained
-------- ----------- --------
Describe: ___________________________________________________
Application _____ _____ _____
Examination _____ _____ _____ Has money been accepted with the Application? __ Yes __ No
HOS _____ _____ _____
EKG (s) _____ _____ _____ Is risk being submitted to other Reinsurers? __ Yes __ No
X-Ray _____ _____ _____
SMA - Blood Study _____ _____ _____ Other companion cases also submitted: __________________________
APS Dr _____________ _____ _____ _____
Dr _____________ _____ _____ _____ ________________________________________________________________
IR _____ _____ _____ Remarks:
Questionnaires _____ _____ _____
Financial Data _____ _____ _____
Other (describe)_____________________________________
NOTE: Unless otherwise stated. LNL's offer to reinsure is valid for 120 days from date of last facultative underwriting action.
Underwriter_____________________________________________
Date_____________________________________________
* TRANSACTION TYPE MUST BE INDICATED
SCHEDULE C
INSTRUCTIONS
1. Submit Part l when making Facultative Application.
2. Submit Part 2 when making Formal Cession of Reinsurance
to [name of reinsurance company] (new business or
amended cession) or withdrawing Facultative Application.
3. Retain Part 3 for your records.
4. On RPR cases, please furnish the Disability Premium per unit
on Parts 2 & 3 in the remarks area.
TRANSACTION TYPE CODES and DEFINITIONS
NEW COVERAGE
CODE LITERAL DEFINITION
NB - New Business New issues, on which the underwriting is within the
ceding company's requirements as per published
guidelines.
SU - New Business with New Issues for which the ceding company has a
Special Underwriting program to use modified underwriting requirements.
(e.g., a Special Replacement Program).
CONTINUATION OF COVERAGE - A "continuation" of a policy is a new policy
replacing a policy issued earlier by the client ("original policy") or a change
in an existing policy issued or made either:
(a) in compliance with the terms of the original policy (such as a
conversion of a term policy or the use of first-year rates for a
re-entry term product)
OR
(b) without the same new underwriting information the client would
obtain in the absence of the original policy, without a suicide
exclusion or contestable period as long as those contained in new
issues by the client, or without the payment of the same first-year
commissions payable in the absence of the original policy.
CODE LITERAL DEFINITION
EX - Exchange A policy which is replacing a policy previously
issued by the ceding company and for which the
company does not obtain Full Evidence of
Insurability requirements as per published
underwriting guidelines it would obtain in the
absence of the replaced policy. (Indicate effective
date in remarks area).
CN - Conversion A newly issued policy based on a contractual
provision contained in the previous policy with
limited or no evidence of insurability. (Indicate
effective date and other pertinent data in the
remarks area).
RT - RE-Entry Term A contractual privilege which allows the insured to
present evidence of insurability to obtain a new
first year premium at his then attained age (based
on same plan of insurance originally issued).
OR - Other Reissues All other reissues not considered to be exchanges,
conversions, or re-entries (e.g.. reduction in
amount, rating reduction, return to first-year
premium, adding or terminating benefits, etc.).
(Indicate effective date and other pertinent data in
the remarks areas).
OT - Other MUST explain in remarks area.
SCHEDULE C, PART I
Policy Detail Report
_______, 19__
Risk Premium Reinsurance
For each policy show:
1. Full name of insured
2. Sex
3. Date of Birth
4. Joint Insured (when applicable)
- Full name
- Sex
- Date of Birth
5. Amount of Previous In-force within Client Company
6. Amount of Previous Retention
7. Amount of New Policy
8. Amount of New Retention
9. Amount of New Reinsurance Ceded to [NAME OF REINSURANCE COMPANY]
10. Policy Number
11. Plan and/or Plan Code
12. Issue Date
13. Transaction Code
14. Automatic/Facultative Indicator
15. Underwriting Basis
16. Rating
17. Foreign Currency Code
18. Par/Non Par Indicator
19. Current Premiums
(a) Standard Life
(b) Substandard Table Extras
(c) Substandard Flat Extras
(d) Accidental Death Benefits
(e) Waiver of Premium
20. Total Premium Due
21. Current Net Amount at Risk
22. Current Policy Fee
23. Mode Indicator
Please provide separate reports for first year and renewal reinsurance.
BRPR
6/82
SCHEDULE C, PART II
Summary Premium Report
___________, 19__
Risk Premium Reinsurance
Total first year basic Life Premiums __________________
Total first year Policy Fees __________________
Total first year Disability Premiums __________________
Total first year Accidental Death Benefits Premiums __________________
Total first year Premiums Due __________________
Total renewal basic Life Premiums __________________
Total renewal Policy Fees __________________
Total renewal Disability Premiums __________________
Total renewal Accidental Death Benefits Premiums __________________
Total renewal Premiums Due __________________
Grand Total __________________
SCHEDULE C, PART III
Policy Exhibit
____________, 19 __
Risk Premium Reinsurance
-----------------------Current Period------------------------ ---------------------------Year-to-Date------------------------
Number Amount Number Amount
of Policies of Reinsurance of Policies of Reinsurance
----------- -------------- ----------- --------------
In-force Beg. of Period In-force Beg. of Year
Issues-Automatic Issues-Automatic
Issues-Facultative Issues-Facultative
Cancellations (NTO's) Cancellations (NTO's)
Reinstates from Cancels Reinstates from Cancels
Other Increases Other Increases
(Include other reinstatments) (Include other
Total Increases reinstatements)
Deaths Total Increases
Recaptures Deaths
Expires & Maturities Recaptures
Lapses & Surrenders Expires & Maturities
Other Decreases in Coverage Lapses & Surrenders
Total Decreases Other Decreases in Coverage
In-force End of Period Total Decreases
In-force Year-to-Date
PREMIUM SCHEDULE
Reinsurance Premium Rates
Fully Underwritten Issues
Standard Risks
The monthly reinsurance premium for Universal Life plans shall be the attached
Guaranteed Maximum cost of insurance rates charged the insured per thousand of
the net amount at risk times the following percentages; the reinsurance premium
for other than Universal Life plans shall be the attached Guaranteed Maximum
cost of insurance rates charged the insured per thousand of the net amount at
risk times the following percentages times twelve:
Automatic and Capacity Facultative*
Policy Year
1 2+
--------- --------
Non-Capacity Facultative**
Policy Year
1 2+
--------- --------
Substandard Risks
The substandard table extra premiums shall be the number of tables assessed the
risk times [percentage] of the attached appropriate standard rates times the
above percentages.
* Capacity facultative reinsurance is that reinsurance for which the
REINSURED made facultative application to no reinsurer other than the
[NAME OF REINSURANCE COMPANY] and on which the REINSURED retains its full
limit of retention for the plan, age at issue, and mortality
classification of the policy.
** Non-capacity facultative reinsurance is that reinsurance for which the
REINSURED made facultative application to reinsurers other than the [NAME
OF REINSURANCE COMPANY] and on which the REINSURED retains less than its
full limit of retention for the plan, age at issue, and mortality
classification of the policy.
Agreement No. 18/Revision No. 2 Page 3
PREMIUM SCHEDULE (CONTINUED)
Continuations to Issues Reinsured Hereunder
The reinsurance premium for policies reinsured under this agreement as
continuations shall be the appropriate premium described in this agreement;
unless the reinsurance agreement under which the original policy was reinsured
specifies otherwise, the policy duration and attained age of the insured for
purposes of calculating such premiums, shall be determined as though the
continuations were issued on the same date and at the same issue age as the
original policy.
Continuations from Issues Reinsured Hereunder
The reinsurance premium for continuations of policies reinsured under this
agreement shall be as described in the agreement which covers the new policy;
unless that agreement specifies otherwise, the policy duration and attained age
of the insured, for purposes of calculating such premiums, shall be determined
as though the continuations were issued on the same date and at the same issue
age as the original policy. If no such agreement is in effect between the [NAME
OF REINSURANCE COMPANY] and the REINSURED, reinsurance shall continue hereunder.
Continuation Policy Fee
If the premium scale applicable to a continuation contains a policy fee, a
continuation shall, for purposes of determining the policy fee only and
notwithstanding the method prescribed for calculating the basic premium, be
considered a renewal if the REINSURED has paid the [NAME OF REINSURANCE COMPANY]
a first-year policy fee on reinsurance of the original policy and as a new issue
if the REINSURED has not paid the [NAME OF REINSURANCE COMPANY] a policy fee on
reinsurance of the original policy.
Waiver of Premium Disability
The premium which the REINSURED charges the insured on the amount reinsured less
total allowances of [percentage] first year and [percentage] in renewal years.
Agreement No. 18/Revision No. 2 Page 4
MALE RATE TABLE
Guaranteed Maximum Monthly Cost of Insurance Rates per $1,000
for Insureds with a Standard Rate Classification
Standard Standard Standard
Attained Non- Attained Non- Attained Non-
Age Standard Smoker Age Standard Smoker Age Standard Smoker
--- -------- ------ --- -------- ------ --- -------- ------
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
For insureds with other than a standard rating classification, the guaranteed
monthly cost of insurance rates are calculated by multiplying the above monthly
rates by the Special Class Rating Factor shown under Policy Data.
FEMALE RATE TABLE
Guaranteed Maximum Monthly Cost of Insurance Rates per $1,000
for Insureds with a Standard Rate Classification
Standard Standard Standard
Attained Non- Attained Non- Attained Non-
Age Standard Smoker Age Standard Smoker Age Standard Smoker
--- -------- ------ --- -------- ------ --- -------- ------
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
For insureds with other than a standard rating classification, the guaranteed
monthly cost of insurance rates are calculated by multiplying the above monthly
rates by the Special Class Rating Factor shown under Policy Data.
AMENDMENT
to the Risk Premium Reinsurance Agreement (the "Agreement")
effective April 1, 1990, between
IDS LIFE INSURANCE COMPANY of Minneapolis, Minnesota,
hereinafter referred to as the "REINSURED,"
and
[name of reinsurance company]of [city and state of reinsurance company],
hereinafter referred to as the "[name of reinsurance company]."
1. On and after the first day of May, 1991, the Subject Reinsurance
Schedule in the Agreement shall be replaced with the revised Subject Reinsurance
Schedule, attached hereto.
2. The provisions of this amendment shall be subject to all the
terms and conditions of the Agreement 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.
IDS LIFE INSURANCE COMPANY
Signed at MINNEAPOLIS, MN
--------------------------------------
By /s/ [ILLEGIBLE] By /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
------------------------------------------- --------------------------------------
Title Vice President - Finance Title VP - Individual Product Development
------------------------------------------- --------------------------------------
Date 8/15/91 Date 8/9/91
------------------------------------------- --------------------------------------
[name of reinsurance company]
Signed at [city and state of reinsurance company]
By [signature] By [signature]
------------------------------------------- --------------------------------------
[title] [title]
Date 8/29/91 Date August 29, 1991
------------------------------------------- --------------------------------------
Agreement No. 18/Revision No. 3 Page 1
SUBJECT REINSURANCE SCHEDULE
Insurance Subject to Reinsurance under this Agreement
The REINSURED'S entire excess of its issues of the following plans bearing
application dates in the range shown below to insureds having surnames beginning
with the letters of the alphabet shown below.
A. [percentage] of the reinsurance the REINSURED cedes automatically of the
insurance specified below shall be ceded under this agreement.
Dates Letters
Plan From Through From Through
---- ---- ------- ---- -------
UL25 04-01-90 -- A Z
UL100 04-01-90 -- A Z
UL500 04-01-90 -- A Z
▇▇▇ ▇▇-▇▇-▇▇ -- ▇ ▇
▇▇▇▇▇ 04-01-90 -- A Z
EUL100 04-01-90 -- A Z
Other Insured Riders (OIR)
Waiver of Monthly 04-01-90 -- A Z
Deductions (WMD) Rider 04-01-90 -- A Z
Whole Life 04-01-90 -- A Z
Annual Reducing Term (ART) Rider 04-01-90 -- A Z
Waiver of Premium (WP) Rider 04-01-90 -- A Z
YRT 04-01-90 -- A Z
YRT-7 04-01-90 -- A Z
10 Year Renewable Term 04-01-90 -- A Z
ART Rider 04-01-90 -- A Z
Waiver of Premium Rider 04-01-90 -- A Z
ART 04-01-90 -- A Z
Mortgage Term 04-01-90 -- A Z
ART Rider 04-01-90 -- A Z
Waiver of Premium Rider 04-01-90 -- A Z
Agreement No. 18/Revision No. 3 Page 2
SUBJECT REINSURANCE SCHEDULE (CONTINUED)
B. [percentage] of the reinsurance the REINSURED cedes facultatively of the
insurance specified below shall be ceded under this agreement provided the
REINSURED has accepted the [NAME OF REINSURANCE COMPANY]'S offer to
reinsure.
Dates Letters
Plan From Through From Through
---- ---- ------- ---- -------
UL25 04-01-90 -- A Z
UL100 04-01-90 -- A Z
UL500 04-01-90 -- A Z
▇▇▇ ▇▇-▇▇-▇▇ -- ▇ ▇
▇▇▇▇▇ 04-01-90 -- A Z
EUL100 04-01-90 -- A Z
Other Insured Riders (OIR) 04-01-90 -- A Z
Waiver of Monthly
Deductions (WMD) Rider 04-01-90 -- A Z
Whole Life 04-01-90 -- A Z
Annual Reducing Term (ART) Rider 04-01-90 -- A Z
Waiver of Premium (WP) Rider 04-01-90 -- A Z
YRT 04-01-90 -- A Z
YRT-7 04-01-90 -- A Z
10 Year Renewable Term 04-01-90 -- A Z
ART Rider 04-01-90 -- A Z
Waiver of Premium Rider 04-01-90 -- A Z
ART 04-01-90 -- A Z
Mortgage Term 04-01-90 -- A Z
ART Rider 04-01-90 -- A Z
Waiver of Premium Rider 04-01-90 -- A Z
VUL-350 05-01-91 -- A Z
C. Continuations to the insurance specified above shall be ceded under this
agreement provided the original policy was reinsured with the [NAME OF
REINSURANCE COMPANY] under this agreement. The percentage of reinsurance
ceded to [NAME OF REINSURANCE COMPANY] shall equal the percentage of the
original policy ceded to [NAME OF REINSURANCE COMPANY].
Agreement No. 18/Revision No. 3 Page 3
AMENDMENT
to the Risk Premium Reinsurance Agreement (the "Agreement")
effective April 1, 1990, between
IDS LIFE INSURANCE COMPANY of Minneapolis, Minnesota,
hereinafter referred to as the "REINSURED,"
and
[name of reinsurance company] of [city and state of reinsurance company],
hereinafter referred to as the "[name of reinsurance company]."
1. The REINSURED'S plans to be reinsured under the Agreement on and
after the first day of May, 1992, shall be as specified in the Subject
Reinsurance Schedule, attached hereto.
2. The reinsurance percentages for the REINSURED'S cost of insurance
rates shall be as described in Schedule D, Parts I and II, attached hereto, and
shall apply to reinsurance of the REINSURED'S Life Protection Plus Universal
Life plan ceded under the Agreement on and after the first day of May, 1992; and
reinsurance ceded on the basis of such premium rates shall
(a) be subject to a minimum cession of [dollar amount],
(b) not be eligible for experience refunds,
(c) not be eligible for production or persistency bonuses,
(d) not be eligible for premium tax reimbursement, and
(e) not be reduced as set forth in the "INCREASE IN LIMIT OF
RETENTION" article until it has been in force for at least
[number] years or, in the case of continuations, until the
number of years the original policy and its continuation have
been in force is at least equal to the greater of twenty years
and the time period specified for reinsurance of the original
policy.
3. The provisions of this amendment shall be subject to all the
terms and conditions of the Agreement which do not conflict with the terms
hereof.
V35556
Agreement No. 18/Revision No. 4 Page 1
IN WITNESS WHEREOF the parties hereto have caused this amendment to
be executed in duplicate on the dates shown below.
IDS LIFE INSURANCE COMPANY
Signed at Mpls, MN
----------------------------------------
By /s/ [ILLEGIBLE] By /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
-------------------------------------------- ----------------------------------------
Title VP - FINANCE Title VP - INSURANCE PRODUCT DEVELOPMENT
------------------------------------------- ----------------------------------------
Date 8/17/92 Date 8/14/92
------------------------------------------- ----------------------------------------
[name of reinsurance company]
Signed at [city and state of reinsurance company]
By [signature] By [signature]
------------------------------------------- ----------------------------------------
[title] [title]
Date 8/25/92 Date 8/21/92
------------------------------------------- ----------------------------------------
V35556
Agreement No. 18/Revision No. 4 Page 2
SUBJECT REINSURANCE SCHEDULE
Insurance Subject to Reinsurance under this Agreement
The REINSURED'S entire excess of its issues of the following plans bearing
application dates in the range shown below to insureds having surnames beginning
with the letters of the alphabet shown below.
A. [percentage] of the reinsurance the REINSURED cedes automatically of the
insurance specified below shall be ceded under this agreement.
Dates Letters
Plan From Through From Through
---- ---- ------- ---- -------
UL25 04-01-90 -- A Z
UL100 04-01-90 -- A Z
UL500 04-01-90 -- A Z
▇▇▇ ▇▇-▇▇-▇▇ -- ▇ ▇
▇▇▇▇▇ 04-01-90 -- A Z
EUL100 04-01-90 -- A Z
Other Insured Riders (OIR) 04-01-90 -- A Z
Waiver of Monthly
Deductions (WMD) Rider 04-01-90 -- A Z
Whole Life 04-01-90 -- A Z
Annual Reducing Term (ART) Rider 04-01-90 -- A Z
Waiver of Premium (WP) Rider 04-01-90 -- A Z
YRT 04-01-90 -- A Z
YRT-7 04-01-90 -- A Z
10 Year Renewable Term 04-01-90 -- A Z
ART Rider 04-01-90 -- A Z
Waiver of Premium Rider 04-01-90 -- A Z
ART 04-01-90 -- A Z
Mortgage Term 04-01-90 -- A Z
ART Rider 04-01-90 -- A Z
Waiver of Premium Rider 04-01-90 -- A Z
Life Protection Plus 05-01-92 -- A Z
V35556
Agreement No. 18/Revision No. 4 Page 3
SUBJECT REINSURANCE SCHEDULE (CONTINUED)
B. [percentage] of the reinsurance the REINSURED cedes facultatively of the
insurance specified below shall be ceded under this agreement provided the
REINSURED has accepted the [NAME OF REINSURANCE COMPANY]'S offer to
reinsure.
Dates Letters
Plan From Through From Through
---- ---- ------- ---- -------
UL25 04-01-90 -- A Z
UL100 04-01-90 -- A Z
UL500 04-01-90 -- A Z
▇▇▇ ▇▇-▇▇-▇▇ -- ▇ ▇
▇▇▇▇▇ 04-01-90 -- A Z
EUL100 04-01-90 -- A Z
Other Insured Riders (OIR) 04-01-90 -- A Z
Waiver of Monthly
Deductions (WMD) Rider 04-01-90 -- A Z
whole Life 04-01-90 -- A Z
Annual Reducing Term (ART) Rider 04-01-90 -- A Z
Waiver of Premium (WP) Rider 04-01-90 -- A Z
YRT 04-01-90 -- A Z
YRT-7 04-01-90 -- A Z
10 Year Renewable Term 04-01-90 -- A Z
ART Rider 04-01-90 -- A Z
Waiver of Premium Rider 04-01-90 -- A Z
ART 04-01-90 -- A Z
Mortgage Term 04-01-90 -- A Z
ART Rider 04-01-90 -- A Z
Waiver of Premium Rider 04-01-90 -- A Z
VUL-350 05-01-91 -- A Z
Life Protection Plus Universal Life 05-01-92 -- A Z
C. Continuations to the insurance specified above shall be ceded under this
agreement provided the original policy was reinsured with the [NAME OF
REINSURANCE COMPANY] under this agreement. The percentage of reinsurance
ceded to [NAME OF REINSURANCE COMPANY] shall equal the percentage of the
original policy ceded to [NAME OF REINSURANCE COMPANY].
V35556
Agreement No. 18/Revision No. 4 Page 4
PREMIUM SCHEDULE, PART I
Reinsurance Premium Rates
Fully Underwritten Issues
Standard Risks
The monthly reinsurance premium shall be the attached Guaranteed Maximum cost of
insurance rates charged the insured per thousand of the net amount at risk times
the following percentages based on an age nearest calculation:
Automatic and Capacity Facultative*
Policy Year
1 2+
------- ------
Non-Capacity Facultative**
Policy Year
1 2+
------- ------
Substandard Risks
The substandard table extra premiums shall be the number of tables assessed the
risk times [percentage] of the attached appropriate standard rates times the
above percentages.
* Capacity facultative reinsurance is that reinsurance for which the
REINSURED made facultative application to no reinsurer other than the
[NAME OF REINSURANCE COMPANY] and on which the REINSURED retains its full
limit of retention for the plan, age at issue, and mortality
classification of the policy.
** Non-capacity facultative reinsurance is that reinsurance for which the
REINSURED made facultative application to reinsurers other than the [NAME
OF REINSURANCE COMPANY] and on which the REINSURED retains less than its
full limit of retention for the plan, age at issue, and mortality
classification of the policy.
V35556
Agreement No. 18/Revision No. 4 Page 5
PREMIUM SCHEDULE, PART I (CONTINUED)
Continuations to Issues Reinsured Hereunder
The reinsurance premium for policies reinsured under this agreement as
continuations shall be the appropriate premium described in this agreement;
unless the reinsurance agreement under which the original policy was reinsured
specifies otherwise, the policy duration and attained age of the insured for
purposes of calculating such premiums, shall be determined as though the
continuations were issued on the same date and at the same issue age as the
original policy.
Continuations from Issues Reinsured Hereunder
The reinsurance premium for continuations of policies reinsured under this
agreement shall be as described in the agreement which covers the new policy;
unless that agreement specifies otherwise, the policy duration and attained age
of the insured, for purposes of calculating such premiums, shall be determined
as though the continuations were issued on the same date and at the same issue
age as the original policy. If no such agreement is in effect between the [NAME
OF REINSURANCE COMPANY] and the REINSURED, reinsurance shall continue hereunder.
Continuation Policy Fee
If the premium scale applicable to a continuation contains a policy fee, a
continuation shall, for purposes of determining the policy fee only and
notwithstanding the method prescribed for calculating the basic premium, be
considered a renewal if the REINSURED has paid the [NAME OF REINSURANCE COMPANY]
a first-year policy fee on reinsurance of the original policy and as a new issue
if the REINSURED has not paid the [NAME OF REINSURANCE COMPANY] a policy fee on
reinsurance of the original policy.
Waiver of Premium Disability
The premium which the REINSURED charges the insured on the amount reinsured less
total allowances of [percentage] first year and [percentage] in renewal years.
V35556
Agreement No. 18/Revision No. 4 Page 6
PREMIUM SCHEDULE, PART II
Reinsurance Premium Rates
Fully Underwritten Issues
Standard Risks
The monthly reinsurance premium shall be the attached Guaranteed Maximum cost of
insurance rates charged the insured per thousand of the net amount at risk times
the following percentages based on an age last calculation:
Automatic and Capacity Facultative*
Policy Year
1 2+
------- ------
Non-Capacity Facultative**
Policy Year
1 2+
------- ------
Substandard Risks
The substandard table extra premiums shall be the number of tables assessed the
risk times [percentage] of the attached appropriate standard rates times the
above percentages.
* Capacity facultative reinsurance is that reinsurance for which the
REINSURED made facultative application to no reinsurer other than the
[NAME OF REINSURANCE COMPANY] and on which the REINSURED retains its full
limit of retention for the plan, age at issue, and mortality
classification of the policy.
** Non-capacity facultative reinsurance is that reinsurance for which the
REINSURED made facultative application to reinsurers other than the [NAME
OF REINSURANCE COMPANY] and on which the REINSURED retains less than its
full limit of retention for the plan, age at issue, and mortality
classification of the policy.
V35556
Agreement No. 18/Revision No. 4 Page 7
PREMIUM SCHEDULE, PART II (CONTINUED)
Continuations to Issues Reinsured Hereunder
The reinsurance premium for policies reinsured under this agreement as
continuations shall be the appropriate premium described in this agreement;
unless the reinsurance agreement under which the original policy was reinsured
specifies otherwise, the policy duration and attained age of the insured for
purposes of calculating such premiums, shall be determined as though the
continuations were issued on the same date and at the same issue age as the
original policy.
Continuations from Issues Reinsured Hereunder
The reinsurance premium for continuations of policies reinsured under this
agreement shall be as described in the agreement which covers the new policy;
unless that agreement specifies otherwise, the policy duration and attained age
of the insured, for purposes of calculating such premiums, shall be determined
as though the continuations were issued on the same date and at the same issue
age as the original policy. If no such agreement is in effect between the [NAME
OF REINSURANCE COMPANY] and the REINSURED, reinsurance shall continue hereunder.
Continuation Policy Fee
If the premium scale applicable to a continuation contains a policy fee, a
continuation shall, for purposes of determining the policy fee only and
notwithstanding the method prescribed for calculating the basic premium, be
considered a renewal if the REINSURED has paid the [NAME OF REINSURANCE COMPANY]
a first-year policy fee on reinsurance of the original policy and as a new issue
if the REINSURED has not paid the [NAME OF REINSURANCE COMPANY] a policy fee on
reinsurance of the original policy.
Waiver of Premium Disability
The premium which the REINSURED charges the insured on the amount reinsured less
total allowances of [percentage] first year and [percentage] in renewal years.
V35556
Agreement No. 18/Revision No. 4 Page 8
MALE RATE TABLE
Guaranteed Maximum Monthly Cost of Insurance Rates per $1,000
for Insureds with a Standard Rate Classification
Attained Standard Attained Standard Attained Standard
Age Standard Non-Smoker Age Standard Non-Smoker Age Standard Non-Smoker
--- -------- ---------- --- -------- ---------- --- -------- ----------
For insureds with other than a standard rating classification, the guaranteed
monthly cost of insurance rates are calculated by multiplying the above monthly
rates by the Special Class Rating Factor shown under Policy Data.
FEMALE RATE TABLE
Guaranteed Maximum Monthly Cost of Insurance Rates per $1,000
for Insureds with a Standard Rate Classification
Attained Standard Attained Standard Attained Standard
Age Standard Non-Smoker Age Standard Non-Smoker Age Standard Non-Smoker
--- -------- ---------- --- -------- ---------- --- -------- ----------
For insureds with other than a standard rating classification, the guaranteed
monthly cost of insurance rates are calculated by multiplying the above monthly
rates by the Special Class Rating Factor shown under Policy Data.
AMENDMENT
to the Risk Premium Reinsurance Agreement (the "Agreement")
effective April 1, 1990, between
IDS LIFE INSURANCE COMPANY of Minneapolis, Minnesota,
hereinafter referred to as the "REINSURED,"
and
[name of reinsurance company] of [city and state of reinsurance company],
hereinafter referred to as the "[NAME OF REINSURANCE COMPANY]."
1. The reinsurance percentages for the REINSURED'S cost of insurance
rates shall be as described in the Premium Schedule, Parts I and II, attached
hereto, and shall apply to reinsurance ceded under the Agreement on and after
the first day of February, 1993. Reinsurance ceded on the basis of such premium
rates shall
(a) be subject to a minimum cession of [dollar amount],
(b) not be eligible for experience refunds,
(c) not be eligible for production or persistency bonuses,
(d) not be eligible for premium tax reimbursement, and
(e) not be reduced as set forth in the "INCREASE IN LIMIT OF
RETENTION" article until it has been in force for at least
twenty years or, in the case of continuations, until the
number of years the original policy and its continuation have
been in force is at least equal to the greater of twenty years
and the time period specified for reinsurance of the original
policy.
2. On and after the first day of February, 1993, the "AGREEMENT"
article of the Agreement shall be replaced with the "MISCELLANEOUS" article and
shall read as follows:
"XXI. MISCELLANEOUS
A. This Agreement represents the entire agreement between
the REINSURED and the [NAME OF REINSURANCE COMPANY] and
supercedes, with respect to its subject matter, any
prior oral or written agreements between the parties.
B. No modification or waiver of any provision of this
Agreement shall be effective unless set forth in a
written amendment to this Agreement which is executed by
both parties. A waiver shall constitute a waiver only
with respect to the particular circumstances for which
it is given and not a waiver of any future
circumstance."
921665/695/H10N16CR
Agreement No. 18/Revision No. 5 Page 1
3. The provisions of this amendment shall be subject to all the
terms and conditions of the Agreement 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.
IDS LIFE INSURANCE COMPANY
Signed at Minneapolis, MN
-----------------------------------------------
By /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇ By /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
----------------------------------------- -----------------------------------------
Title Reinsurance Actuary Title VP - Insurance Product Development
----------------------------------------- -----------------------------------------
Date 5/6/93 Date 5/6/93
----------------------------------------- -----------------------------------------
[name of reinsurance company]
Signed at [city and state of reinsurance company]
By [signature] By [signature]
----------------------------------------- -----------------------------------------
[title] [title]
Date 5/13/93 Date 5/12/93
----------------------------------------- -----------------------------------------
921665/695/H10N16CR
Agreement No. 18/Revision No. 5 Page 2
PREMIUM SCHEDULE, PART I
(Effective February 1, 1993)
Reinsurance Premium Rates
Fully Underwritten Issues
Age Nearest Calculation
Standard Risks
The monthly reinsurance premium shall be the attached Guaranteed Maximum cost of
insurance rates charged the insured per thousand of the net amount at risk times
the following percentages based on an age nearest calculation:
Policy Year
1 2+
------- ------
% %
Substandard Risks
The substandard table extra premiums shall be the number of tables assessed the
risk times [percentage] of the attached appropriate standard rates times the
above percentages.
Continuations to Issues Reinsured Hereunder
The reinsurance premium for policies reinsured under this agreement as
continuations shall be the appropriate premium described in this agreement;
unless the reinsurance agreement under which the original policy was reinsured
specifies otherwise, the policy duration and attained age of the insured for
purposes of calculating such premiums, shall be determined as though the
continuations were issued on the same date and at the same issue age as the
original policy.
Continuations from Issues Reinsured Hereunder
The reinsurance premium for continuations of policies reinsured under this
agreement shall be as described in the agreement which covers the new policy;
unless that agreement specifies otherwise, the policy duration and attained age
of the insured, for purposes of calculating such premiums, shall be determined
as though the continuations were issued on the same date and at the same issue
age as the original policy. If no such agreement is in effect between the [NAME
OF REINSURANCE COMPANY] and the REINSURED, reinsurance shall continue hereunder.
921665/695/H10N16CR
Agreement No. 18/Revision No. 5 Page 3
PREMIUM SCHEDULE, PART I (CONTINUED)
Continuation Policy Fee
If the premium scale applicable to a continuation contains a policy fee, a
continuation shall, for purposes of determining the policy fee only and
notwithstanding the method prescribed for calculating the basic premium, be
considered a renewal if the REINSURED has paid the [NAME OF REINSURANCE COMPANY]
a first-year policy fee on reinsurance of the original policy and as a new issue
if the REINSURED has not paid the [NAME OF REINSURANCE COMPANY] a policy fee on
reinsurance of the original policy.
Waiver of Premium Disability
The premium which the REINSURED charges the insured on the amount reinsured less
total allowances of [percentage] first year and [percentage] in renewal years.
921665/695/H10N16CR
Agreement No. 18/Revision No. 5 Page 4
PREMIUM SCHEDULE, PART II
(Effective February 1, 1993)
Reinsurance Premium Rates
Age Last Calculation
Fully Underwritten Issues
Standard Risks
The monthly reinsurance premium shall be the attached Guaranteed Maximum cost of
insurance rates charged the insured per thousand of the net amount at risk times
the following percentages based on an age last calculations:
Policy Year
1 2+
------- ------
% %
Substandard Risks
The substandard table extra premiums shall be the number of tables assessed the
risk times [percentage] of the attached appropriate standard rates times the
above percentages.
Continuations to Issues Reinsured Hereunder
The reinsurance premium for policies reinsured under this agreement as
continuations shall be the appropriate premium described in this agreement;
unless the reinsurance agreement under which the original policy was reinsured
specifies otherwise, the policy duration and attained age of the insured for
purposes of calculating such premiums, shall be determined as though the
continuations were issued on the same date and at the same issue age as the
original policy.
Continuations from Issues Reinsured Hereunder
The reinsurance premium for continuations of policies reinsured under this
agreement shall be as described in the agreement which covers the new policy;
unless that agreement specifies otherwise, the policy duration and attained age
of the insured, for purposes of calculating such premiums, shall be determined
as though the continuations were issued on the same date and at the same issue
age as the original policy. If no such agreement is in effect between the [NAME
OF REINSURANCE COMPANY] and the REINSURED, reinsurance shall continue hereunder.
921665/695/H10N16CR
Agreement No. 18/Revision No. 5 Page 5
PREMIUM SCHEDULE, PART II (CONTINUED)
Continuation Policy Fee
If the premium scale applicable to a continuation contains a policy fee, a
continuation shall, for purposes of determining the policy fee only and
notwithstanding the method prescribed for calculating the basic premium, be
considered a renewal if the REINSURED has paid the [NAME OF REINSURANCE COMPANY]
a first-year policy fee on reinsurance of the original policy and as a new issue
if the REINSURED has not paid the [NAME OF REINSURANCE COMPANY] a policy fee on
reinsurance of the original policy.
Waiver of Premium Disability
The premium which the REINSURED charges the insured on the amount reinsured less
total allowances of [percentage] first year and [percentage] in renewal years.
921665/695/H10N16CR
Agreement No. 18/Revision No. 5 Page 6
MALE RATE TABLE
Guaranteed Maximum Monthly Cost of Insurance Rates per $1,000
for Insureds with a Standard Rate Classification
Standard Standard Standard
Attained Non- Attained Non- Attained Non-
Age Standard Smoker Age Standard Smoker Age Standard Smoker
--- -------- ------ --- -------- ------ --- -------- ------
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
For insureds with other than a standard rating classification, the guaranteed
monthly cost of insurance rates are calculated by multiplying the above monthly
rates by the Special Class Rating Factor shown under Policy Data.
FEMALE RATE TABLE
Guaranteed Maximum Monthly Cost of Insurance Rates per $1,000
for Insureds with a Standard Rate Classification
Standard Standard Standard
Attained Non- Attained Non- Attained Non-
Age Standard Smoker Age Standard Smoker Age Standard Smoker
--- -------- ------ --- -------- ------ --- -------- ------
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
For insureds with other than a standard rating classification, the guaranteed
monthly cost of insurance rates are calculated by multiplying the above monthly
rates by the Special Class Rating Factor shown under Policy Data.
AMENDMENT
to the Risk Premium Reinsurance Agreement (the "Agreement")
effective April 1, 1990, between
IDS LIFE INSURANCE COMPANY of Minneapolis, Minnesota,
hereinafter referred to as the "REINSURED,"
and
[name of reinsurance company] of [city and state of reinsurance company],
hereinafter referred to as the "[NAME OF REINSURANCE COMPANY]."
1. The REINSURED'S plans to be reinsured under the Agreement on and
after the first day of November, 1993, shall be as specified in the Subject
Reinsurance Schedule, attached hereto.
2. The premium rates as described in the Premium Schedule, Parts I
and II, effective February 1, 1993, under the Agreement shall apply to
reinsurance of the REINSURED'S 1 Year Term and 10 Year Term plans ceded under
the Agreement on and after the first day of November, 1993; the reinsurance
percentages for such rates shall be as follows:
Policy Year
Smoking Status 1 2-10 11+
----------------- ---- ------ -----
Wellness* % % %
Nonsmoker % % %
Smoker % % %
* Wellness premium - Use nonsmoker rates.
3. The provisions of this amendment shall be subject to all the
terms and conditions of the Agreement which do not conflict with the terms
hereof.
931564/0695/H10N3WW0
Agreement No. 18/Revision No. 6 Page 1
IN WITNESS WHEREOF the parties hereto have caused this amendment to
be executed in duplicate on the dates shown below.
IDS LIFE INSURANCE COMPANY
Signed at Minneapolis, MN
------------------------------------
By /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇ By /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
----------------------------------------- ---------------------------------------
Title Reinsurance Actuary Title VP - Insurance Product Development
----------------------------------------- ---------------------------------------
Date 6/23/94 Date 6/23/94
----------------------------------------- ---------------------------------------
[name of reinsurance company]
Signed at [city and state of reinsurance company]
By: [signature] By: [signature]
----------------------------------------- ---------------------------------------
[title] [title]
Date 7/5/94 Date 7-1-94
----------------------------------------- ---------------------------------------
931564/0695/H10N3WW0
Agreement No. 18/Revision No. 6 Page 1
SUBJECT REINSURANCE SCHEDULE
Insurance Subject to Reinsurance under this Agreement
The REINSURED'S entire excess of its issues of the following plans bearing
application dates in the range shown below to insureds having surnames beginning
with the letters of the alphabet shown below.
A. [percentage] of the reinsurance the REINSURED cedes automatically of the
insurance specified below shall be ceded under this agreement.
Dates Letters
Plan From Through From Through
---- ---- ------- ---- -------
UL25 04-01-90 -- A Z
UL100 04-01-90 -- A Z
UL500 04-01-90 -- A Z
▇▇▇ ▇▇-▇▇-▇▇ -- ▇ ▇
▇▇▇▇▇ 04-01-90 -- A Z
EUL100 04-01-90 -- A Z
Other Insured Riders (OIR) 04-01-90 -- A Z
Waiver of Monthly
Deductions (WMD) Rider 04-01-90 -- A Z
Whole Life 04-01-90 -- A Z
Annual Reducing Term
(ART) Rider 04-01-90 -- A Z
Waiver of Premium (WP) Rider 04-01-90 -- A Z
YRT 04-01-90 -- A Z
YRT-7 04-01-90 -- A Z
10 Year Renewable Term 04-01-90 -- A Z
ART Rider 04-01-90 -- A Z
Waiver of Premium Rider 04-01-90 -- A Z
ART 04-01-90 -- A Z
Mortgage Term 04-01-90 -- A Z
ART Rider 04-01-90 -- A Z
Waiver of Premium Rider 04-01-90 -- A Z
VUL 350 05-01-91 -- A Z
Life Protection Plus
Universal Life 05-01-92 -- A Z
1 Year Term* 11-01-93 -- A Z
10 Year Term* 11-01-93 -- A Z
* An exchange of an existing IDS policy to a new policy subject to
full underwriting, a new contestable period and a new suicide clause
shall be eligible for reinsurance under this Agreement as a new
issue. Conversely, a re-entry effective on the tenth policy
anniversary subject to limited contestability and suicide clauses
shall be considered a continuation under this Agreement.
B. [percentage] of the reinsurance the REINSURED cedes facultatively of the
insurance specified above shall be ceded under this agreement provided the
REINSURED has accepted the [NAME OF REINSURANCE COMPANY]'S offer to
reinsure.
C. Continuations to the insurance specified above shall be ceded under this
agreement provided the original policy was reinsured with the [NAME OF
REINSURANCE COMPANY] under this agreement. The percentage of reinsurance
ceded to [NAME OF REINSURANCE COMPANY] shall equal the percentage of the
original policy ceded to [NAME OF REINSURANCE COMPANY].
931564/0695/H10N3WW0
Agreement No. 18/Revision No. 6 Page 2
AMENDMENT
to the Risk Premium Reinsurance Agreement (the "Agreement")
effective April 1, 1990, between
IDS LIFE INSURANCE COMPANY of Minneapolis, Minnesota,
hereinafter referred to as the "REINSURED,"
and
[name of reinsurance company] of [city and state of reinsurance company],
hereinafter referred to as the "[NAME OF REINSURANCE COMPANY]."
1. The REINSURED'S plans to be reinsured under the Agreement on and
after the first day of August, 1994, shall be as specified in the Subject
Reinsurance Schedule, attached hereto.
2. The premium rates as described in the Premium Schedule, Parts I
and II, effective February 1, 1993, under the Agreement shall apply to
reinsurance ceded under the Agreement on and after the first day of August,
1994; the reinsurance percentages for such rates shall be as follows:
1 Year Term
Policy Year
Smoking Status 1 2-10 11+
-------------- --- ---- ---
Preferred % % %
Nonsmoker % % %
Smoker % % %
10 Year Term
Policy Year
Smoking Status 1 2-10 11+
-------------- --- ---- ---
Preferred % % %
Nonsmoker % % %
Smoker % % %
Life Protection Plus Universal Life
1 2+
--- ---
% %
All Other Plans
1 2+
--- ---
% %
940730/695/H10N6ZJF
Agreement No. 18/Revision No. 7 Page 1
3. The provisions of this amendment shall be subject to all the
terms and conditions of the Agreement 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.
IDS LIFE INSURANCE COMPANY
Signed at Minneapolis, MN
By /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇ By /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
----------------------------------------- ---------------------------------------
Title Reinsurance Actuary Title VP - Insurance Product Development
----------------------------------------- ---------------------------------------
Date 9/9/94 Date 9/9/94
----------------------------------------- ---------------------------------------
[name of reinsurance company]
Signed at [city and state of reinsurance company]
By [signature] By [signature]
----------------------------------------- ---------------------------------------
[title] [title]
Date Date 9-21-94
-----------------------------------------
940730/695/H10N6ZJF
Agreement No. 18/Revision No. 7 Page 2
SUBJECT REINSURANCE SCHEDULE
Insurance Subject to Reinsurance under this Agreement
The REINSURED'S entire excess of its issues of the following plans bearing
application dates in the range shown below to insureds having surnames beginning
with the letters of the alphabet shown below.
A. [percentage] of the reinsurance the REINSURED cedes automatically of the
insurance specified below shall be ceded under this agreement.
Dates Letters
Plan From Through From Through
---- ---- ------- ---- -------
UL25 04-01-90 -- A Z
UL100 04-01-90 -- A Z
UL500 04-01-90 -- A Z
▇▇▇ ▇▇-▇▇-▇▇ -- ▇ ▇
▇▇▇▇▇ 04-01-90 -- A Z
EUL100 04-01-90 -- A Z
Other Insured Rider (OIR) 04-01-90 -- A Z
Waiver of Monthly
Deductions (WMD) Rider 04-01-90 -- A Z
Whole Life 04-01-90 -- A Z
Annual Reducing Term
(ART) Rider 04-01-90 -- A Z
Waiver of Premium (WP) Rider 04-01-90 -- A Z
YRT 04-01-90 07-31-94 A Z
YRT-7 04-01-90 07-31-94 A Z
10 Year Renewable Term 04-01-90 07-31-94 A Z
ART Rider 04-01-90 07-31-94 A Z
Waiver of Premium Rider 04-01-90 07-31-94 A Z
ART 04-01-90 07-31-94 A Z
Mortgage Term 04-01-90 -- A Z
ART Rider 04-01-90 -- A Z
Waiver of Premium Rider 04-01-90 -- A Z
VUL 350 05-01-91 -- A Z
Life Protection Plus Z
Universal Life 05-01-92 -- A Z
1 Year Term* 11-01-93 -- A Z
10 Year Term* 11-01-93 -- A Z
* An exchange of an existing IDS policy to a new policy subject to
full underwriting, a new contestable period and a new suicide clause
shall be eligible for reinsurance under this Agreement as a new
issue. Conversely, a re-entry effective on the tenth policy
anniversary subject to limited contestability and suicide clauses
shall be considered a continuation under this Agreement.
B. [percentage] of the reinsurance the REINSURED cedes facultatively of the
insurance specified above shall be ceded under this agreement provided the
REINSURED has accepted the [NAME OF REINSURANCE COMPANY]'S offer to
reinsure.
C. Continuations to the insurance specified above shall be ceded under this
agreement provided the original policy was reinsured with the [NAME OF
REINSURANCE COMPANY] under this agreement. The percentage of reinsurance
ceded to [NAME OF REINSURANCE COMPANY] shall equal the percentage of the
original policy ceded to [NAME OF REINSURANCE COMPANY].
940730/695/H10N6ZJF
Agreement No. 18/Revision No. 7 Page 3
AMENDMENT
to the Risk Premium Reinsurance Agreement (the "Agreement") effective
April 1, 1990, between
IDS LIFE INSURANCE COMPANY of Minneapolis, Minnesota,
hereinafter referred to as the "REINSURED,"
and
[name of reinsurance company] of [city and state of reinsurance company],
hereinafter referred to as the "[NAME OF REINSURANCE COMPANY]."
1. On and after the first day of June, 1997, the Conditional Receipt
Schedule of the Agreement shall be replaced with the attached Conditional
Receipt Schedule, and the "CONDITIONAL RECEIPT REINSURANCE" article of the
Agreement shall be replaced with the following:
"CONDITIONAL RECEIPT REINSURANCE
A. Subject to the terms, conditions and limits of this Agreement and
provided the conditions set forth in section B of this article are
fulfilled, [NAME OF REINSURANCE COMPANY] shall reimburse the
REINSURED for a claim in excess of the appropriate retention set
forth in the Retention Schedule paid by the REINSURED pursuant to a
conditional receipt, except that in no event shall [NAME OF
REINSURANCE COMPANY]'S liability pursuant to this article exceed
[NAME OF REINSURANCE COMPANY]'S proportionate share of (a) [dollar
amount] or (b) a [dollar amount] collection amount if ordered to pay
such higher amount by a court of competent jurisdiction.
B. The following conditions must be satisfied in order for reinsurance
of a conditional receipt to be effective:
(1) the REINSURED must become liable for a claim pursuant to
a conditional receipt issued on a form in conformity to
the appropriate form of the Conditional Receipt Schedule
of this Agreement; and
(2) the conditional receipt must be given in return for an
application on the life of an insured having a surname
beginning with the letters of the alphabet specified in
the Subject Reinsurance Schedule, for a policy form
listed in the Subject Reinsurance Schedule and which
would bear a register date in the range set forth in the
Subject Reinsurance Schedule; and
970681df.amd/695
Agreement No. 18/Revision No. 8 Page 1
(3) either the policy being applied for must qualify for
automatic reinsurance or the REINSURED has not received
a facultative offer of reinsurance on the application
from another reinsurer which is a better offer than any
facultative offer made by [NAME OF REINSURANCE
COMPANY]."
2. The provisions of this amendment shall be subject to all the terms and
conditions of the Agreement 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.
IDS LIFE INSURANCE COMPANY
Signed at Minneapolis, MN
By /s/ ▇▇▇▇▇ ▇▇▇▇▇▇ By By: /s/ [ILLEGIBLE]
------------------------------------------- -----------------------------------
Title Reinsurance Actuary Title VP - Insurance Product Development
------------------------------------------- -----------------------------------
Date 10/3/97 Date 10/3/97
------------------------------------------- -----------------------------------
[name of reinsurance company]
Signed at [city and state of reinsurance company]
By [signature] By [signature]
------------------------------------------- ----------------------------------
[title] [title]
Date September 25, 1997 Date September 25, 1997
------------------------------------------- ----------------------------------
970681df.amd/695
Agreement No. 18/Revision No. 8 Page 2
CONDITIONAL RECEIPT SCHEDULE
(Effective June 1, 1997)
Conditional Receipt
970681df.amd/695
Agreement No. 18/Revision No. 8 Page 3
IDS Life Insurance Company LIFE AND DISABILITY INCOME
IDS Tower 10 INSURANCE APPLICATION
▇▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
AGREEMENT AND SIGNATURE
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AGREEMENT
By signing this application, you acknowledge all of the following terms and
conditions.
ADEQUATE INFORMATION. You have received the IDS Life's Client Information
Practices, and you have read and understood it.
WHEN COVERAGE BEGINS. You agree that an Insured for life or disability
Insurance will be covered prior to policy delivery only when all of the
following requirements have been met:
The owner has paid the full first premium, according to the mode of
premium payment selected, for all insurance applied for in this
application (any check or draft for that payment must be honored by
the bank); and
The premium has not been returned by the company; and
The Insured has submitted all medical and other Information required
by the company's written underwriting rules; and The Insured is
insurable on the Effective Date, as defined below, under the
company's underwriting rules, for the plan and amount of coverage at
the rate applied for with no modification. "Effective Date" as used
herein means the later of: (a) the date of this application; or (b)
the date of completion of all medical examinations and other
information (which may include the company's medical information
gathering Interview) required by the company's written underwriting
rules.
In cases where the insured is not insurable for the plan of
insurance, amount of insurance, or at the premium rate applied for,
coverage begins if and when the company insures that person under a
policy accepted by the owner.
For disability coverage, all disability policies specified to be
discontinued in this application must also be discontinued before
coverage will begin. (This limitation is subject to the
incontestability provision in the policy.)
AMOUNT OF LIFE INSURANCE COVERAGE. If coverage begins prior to delivery of
the policy under the conditions described above, the amount of life
insurance coverage on each Insured will be the total requested for that
person by this application and any other applications for life insurance
on the Insured being considered by the company, up to a maximum of
$500,000. Except as limited by this agreement, any coverage provided will
be under the terms of the policy applied for.
AMOUNT OF DISABILITY INSURANCE COVERAGE. If coverage begins prior to
delivery of the policy under the conditions described above, the
disability coverage monthly benefit on the Insured will be the lesser of
(1) $3,500 of monthly benefit, (2) the monthly benefit applied for in this
application, or (3) the maximum monthly benefit based on the company's
written underwriting rules. Coverage on the Insured for this monthly
benefit will be provided under the terms of the policy until the first of
the following to occur: (1) benefits paid and payable total $500,000; or
(2) the Insured is no longer eligible for benefits under the terms of the
policy because the Insured is no longer disabled or the maximum benefit
period has been reached. When the first of (1) or (2) occur, all benefits
will cease and coverage under this agreement and the policy will cease.
COMPANY'S RESPONSIBILITIES. You understand that:
Only the officers of the company have the authority to decide on
insurability and risk classification and to bind the company to
insure a proposed insured. The officers of the company are the
President, Vice President, Secretary and Assistant Secretary;
If a policy does not go into effect, the company's sole liability
will be to refund any premium paid, plus interest if required by
law;
No change in or waiver of anything in this application or alteration
of an insurance policy is binding unless it is in writing and signed
by an officer of the company; and
By accepting a policy, the owner ratifies any changes entered at any
time on the Home Office Endorsement form attached to the policy.
However, the owner must sign a separate written document for any
change in type of plan, amount, benefits or insured's risk
classification. (Not applicable in New Hampshire, New Jersey and
West Virginia.)
Any insurance provided by this agreement will be subject to the
conditions and terms of the policy applied for.
RELEASE OF INFORMATION. You understand and agree that the company will use
and release information about you as described in the attached IDS Life's
Client Information Practices. You may inform us not to use information for
certain marketing purposes described in IDS Life's Client Information
Practices.
QUALIFIED PLANS ONLY. You certify that the plan under Ownership of the
insurance application is qualified under ▇▇▇▇▇▇▇ ▇▇▇ (▇) ▇▇ ▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇▇ Internal Revenue Code. This policy will be issued based on
representations by you that the Plan is qualified.
LIFE PROTECTION PLUS/UNIVERSAL LIFE INSURANCE. If you have applied for
this type of insurance, you acknowledge that you have been informed that
(1) the company may periodically change the current interest rate being
credited on cash values, and (2) that surrender charges may apply in
certain circumstances.
DECLARATION
You declare that each of the answers made in this application is
true and complete to the best of your knowledge and belief and will
be a basis for any policy issued. You also acknowledge that you have
received a copy of this agreement and receipt for any premium paid
with this application.
CLIENT COPY
31470 A
AMENDMENT
to the Risk Premium Reinsurance Agreement (the "Agreement")
effective April 1, 1990, between
IDS LIFE INSURANCE COMPANY of Minneapolis, Minnesota,
hereinafter referred to as the "REINSURED,"
and
[name of reinsurance company] of [city and state of reinsurance company]
hereinafter referred to as the "[NAME OF REINSURANCE COMPANY]."
WHEREAS, effective the fifth day of May, 1997, the REINSURED began
issuance of an Automatic Increase Benefit Rider ("AIBR");
WHEREAS, while the AIBR shall not be reinsured under the terms and
conditions of this Agreement, the REINSURED and [NAME OF REINSURANCE COMPANY]
recognize that the administration of the AIBR could have impact on Policies
reinsured under this Agreement; and
WHEREAS, the REINSURED and [NAME OF REINSURANCE COMPANY] wish to document
the details of the administration of such rider and the effect this may have
with respect to the Policies reinsured under this Agreement;
NOW THEREFORE, in consideration of these premises and the mutual promises
contained herein, the REINSURED and [NAME OF REINSURANCE COMPANY] agree to the
following:
1. Effective the fifth day of May, 1997, the retention limit of the
REINSURED shall be as shown in the amended Retention Schedule of the Agreement
dated the first day of April, 1990. Such Retention Limits shall apply to
reinsurance ceded on and after that date and to existing reinsurance ceded
before that date in accordance with the "INCREASE IN LIMIT OF RETENTION" article
of the Agreement, except that the REINSURED agrees to fully retain any coverage
issued as a result of the AIBR and acknowledges it may retain an excess greater
than the Retention Limits specified in Retention Schedule.
970927df.amd / 695
Agreement No. 18 / Revision No. 9 Page 1
2. On and after the fifth day of May, 1997, section C, below, shall be
added to the "REDUCTIONS" article of the Agreement:
"C. Notwithstanding section A, above, the REINSURED and [NAME OF
REINSURANCE COMPANY] agree that any reduction in reinsurance on a life
with an AIBR in force, shall first be applied to the specific policy under
which insurance terminated and also take into consideration the AIBR that
has been fully retained by the REINSURED, and the balance of the
reduction, if any, needed to restore the retention level of the REINSURED
on that life, shall then be applied proportionally to the remaining
reinsurance on the same life."
3. On and after the fifth day of May, 1997, section E, below, shall be
added to the "INCREASE IN LIMIT OF RETENTION" article of the Agreement:
"E. In no event shall the AIBR in force on a life that is fully
retained be considered as retained coverages when the REINSURED exercises
its right to increase its limit of retention pursuant to this article.
Such AIBR coverages shall not be used in the determination of the amount
retained by the REINSURED at the time of an increase in retention nor to
satisfy the eligibility requirement that the REINSURED retained its
maximum limit of retention for the plan, age and mortality classification
pursuant to section B of this article."
4. The provisions of this amendment shall be subject to all the terms and
conditions of the Agreement 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.
IDS LIFE INSURANCE COMPANY
Signed at Minneapolis, Minnesota
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By /s/ ▇▇▇▇▇ ▇▇▇▇▇▇ By /s/ [ILLEGIBLE]
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Title Reinsurance Actuary Title VP- Insurance Products
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Date 11/14/97 Date 11/14/97
------------------------------------------- -----------------------------------
[name of reinsurance company]
Signed at [city and state of reinsurance company]
By [signature] By [signature]
------------------------------------------- -----------------------------------
[title] [title]
Date November 3, 1997 Date November 3, 1997
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970927df.amd / 695
Agreement No. 18 / Revision No. 9 Page 2
AMENDMENT
to the Risk Premium Reinsurance Agreement (the "Agreement")
effective April 1, 1990, between
IDS LIFE INSURANCE COMPANY of Minneapolis, Minnesota,
hereinafter referred to as the "REINSURED,"
and
[name of reinsurance company] of [city and state of reinsurance company]
hereinafter referred to as the "[NAME OF REINSURANCE COMPANY]."
1. No new Waiver of Premium Disability reinsurance shall be ceded under
the Agreement on or after the first day of August, 1998.
2. For reinsurance ceded automatically on and after the first day of
August, 1998, under the Agreement, the sum of the amount of insurance already in
force on the life and the amount applied for currently, in all companies, shall
not exceed the following amounts.
Ages Life Insurance
---- --------------
0-75 [dollar amount]
Over 75 [dollar amount]
3. The REINSURED'S plans to be reinsured under the Agreement on and after
the first day of August, 1998, shall be as specified in the Subject Reinsurance
Schedule, attached hereto.
4. On and after the first day of August, 1998, the REINSURED may cede and
[NAME OF REINSURANCE COMPANY] shall accept automatically amounts of reinsurance
not to exceed those described in the Limits Schedule, attached hereto.
5. On and after the first day of August, 1998, the Premium Schedule, Parts
I and II, under the Agreement shall be replaced with the Premium Schedule, Part
I, attached hereto; the reinsurance percentages for the REINSURED'S cost of
insurance rates shall be as described in the Premium Schedule, Part I, attached
hereto, and shall apply to reinsurance ceded under the Agreement on and after
the first day of August, 1998. Reinsurance ceded on the basis of such premium
rates shall
981173kh.amd / 695
Agreement No. 18 / Revision No. 10 Page 1
(a) be subject to a minimum cession of [dollar amount]),
(b) not be eligible for experience refunds,
(c) not be eligible for production or persistency bonuses,
(d) not be eligible for premium tax reimbursement, and
(e) not be reduced as set forth in the "INCREASE IN LIMIT OF RETENTION"
article until it has been in force for at least [number] years or,
in the case of continuations, until the number of years the original
policy and its continuation have been in force is at least equal to
the greater of [number] years and the time period specified for
reinsurance of the original policy.
6.The provisions of this amendment shall be subject to all the terms and
conditions of the Agreement 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.
IDS LIFE INSURANCE COMPANY
Signed at Minneapolis, MN
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By /s/ ▇▇▇▇▇ ▇▇▇▇▇▇ By /s/ [ILLEGIBLE]
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Title Reinsurance Actuary Title VP - Insurance Products
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Date 1/4/99 Date 1/5/99
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[name of reinsurance company]
Signed at [city and state of reinsurance company]
By [signature] By [signature]
--------------------------------------------- -----------------------------------
[title] [title]
Date 12/4/98 Date 12/3/98
--------------------------------------------- -----------------------------------
981173kh.amd / 695
Agreement No. 18 / Revision No. 10 Page 2
SUBJECT REINSURANCE SCHEDULE
Insurance Subject to Reinsurance under this Agreement
The REINSURED'S entire excess of its issues of the following plans bearing
application dates in the range shown below to insureds having surnames beginning
with the letters of the alphabet shown below.
A. [percentage] of the reinsurance the REINSURED cedes automatically of the
insurance specified below shall be ceded under this Agreement.
Dates Letters
Plan From Through From Through
---- ---- ------- ---- -------
UL25 04-01-90 -- A Z
UL100 04-01-90 -- A Z
UL500 04-01-90 -- A Z
▇▇▇ ▇▇-▇▇-▇▇ -- ▇ ▇
▇▇▇▇▇ 04-01-90 -- A Z
EUL100 04-01-90 -- A Z
Waiver of Monthly
Deductions (WMD) Rider 04-01-90 07-31-98 A Z
Whole Life 04-01-90 -- A Z
Annual Reducing Term
(ART) Rider 04-01-90 -- A Z
Waiver of Premium (WP) Rider 04-01-90 07-31-98 A Z
YRT 04-01-90 07-31-94 A Z
YRT-7 04-01-90 07-31-94 A Z
10 Year Renewable Term 04-01-90 07-31-94 A Z
ART Rider 04-01-90 07-31-94 A Z
Waiver of Premium Rider 04-01-90 07-31-94 A Z
ART 04-01-90 07-31-94 A Z
Mortgage Term 04-01-90 -- A Z
ART Rider 04-01-90 -- A Z
Waiver of Premium Rider 04-01-90 07-31-98 A Z
Other Insured Rider (OIR) 04-01-90 -- A Z
VUL 350 05-01-91 -- A Z
Life Protection Plus Universal Life 05-01-92 -- A Z
1 Year Term* 11-01-93 -- A Z
10 Year Term* 11-01-93 -- A Z
981173kh.amd / 695
Agreement No. 18 / Revision No. 10 Page 3
SUBJECT REINSURANCE SCHEDULE (CONTINUED)
B. [percentage] of the reinsurance the REINSURED cedes facultatively of the
insurance specified above shall be ceded under this Agreement provided the
REINSURED has accepted [NAME OF REINSURANCE COMPANY]'S offer to reinsure.
C. Continuations to the insurance specified above shall be ceded under this
Agreement provided the original policy was reinsured with [NAME OF
REINSURANCE COMPANY] under this Agreement. The percentage of reinsurance
ceded to [NAME OF REINSURANCE COMPANY] shall equal the percentage of the
original policy ceded to [NAME OF REINSURANCE COMPANY].
* An exchange of an existing IDS policy to a new policy subject to full
underwriting, a new contestable period and a new suicide clause shall be
eligible for reinsurance under this Agreement as a new issue. Conversely,
a reentry effective on the tenth policy anniversary subject to limited
contestability and suicide clauses shall be considered a continuation
under this Agreement.
981173kh.amd / 695
Agreement No. 18 / Revision No. 10 Page 4
LIMITS SCHEDULE
(Effective August 1, 1998)
Maximum Amounts which the REINSURED may cede Automatically to All Reinsurers:
Life
----
Ages Standard-Table P Over Table P
---- ---------------- ------------
0-75 [dollar amount] [dollar amount]
Over 75 [dollar amount] [dollar amount]
981173kh.amd / 695
Agreement No. 18 / Revision No. 10 Page 5
PREMIUM SCHEDULE, PART I
(Effective August 1, 1998)
Reinsurance Premium Rates
Fully Underwritten Issues
Standard Risks
The monthly reinsurance premium rate shall be the cost of insurance rates
effective April 1, 1990, under the Agreement per one thousand dollars ($1,000)
of the net amount at risk times the following percentages:
Policy Year
Plan Smoking Status 1 2-10 11+
---- -------------- - ---- ---
Life Protection Plus Nonsmoker [percentage] [percentage] [percentage]
Smoker [percentage] [percentage] [percentage]
1 Year Term Wellness* [percentage] [percentage] [percentage]
Nonsmoker [percentage] [percentage] [percentage]
Smoker [percentage] [percentage] [percentage]
10 Year Term Wellness* [percentage] [percentage] [percentage]
Nonsmoker [percentage] [percentage] [percentage]
Smoker [percentage] [percentage] [percentage]
All Other Nonsmoker [percentage] [percentage] [percentage]
Smoker [percentage] [percentage] [percentage]
Substandard Risks
The substandard table extra premiums shall be the number of tables assessed the
risk times [percentage]of the attached appropriate rates times the above
percentages.
Other Insured Rider (OIR)
The reinsurance premium shall be the same as the base plan.
* Use nonsmoker rates.
981173kh.amd / 695
Agreement No. 18 / Revision No. 10 Page 6
PREMIUM SCHEDULE, PART I (CONTINUED)
Continuations to Issues Reinsured Hereunder
The reinsurance premium for policies reinsured under this Agreement as
continuations shall be the appropriate premium described in this Agreement;
unless the reinsurance agreement under which the original policy was reinsured
specifies otherwise, the policy duration and attained age of the insured for
purposes of calculating such premiums shall be determined as though the
continuations were issued on the same date and at the same issue age as the
original policy.
Continuations from Issues Reinsured Hereunder
The reinsurance premium for continuations of policies reinsured under this
Agreement shall be as described in the agreement which covers the new policy;
unless that agreement specifies otherwise, the policy duration and attained age
of the insured, for purposes of calculating such premiums, shall be determined
as though the continuations were issued on the same date and at the same issue
age as the original policy. If no such agreement is in effect between [NAME OF
REINSURANCE COMPANY] and the REINSURED, reinsurance shall continue hereunder.
Continuation Policy Fee
If the premium scale applicable to a continuation contains a policy fee, a
continuation shall, for purposes of determining the policy fee only and
notwithstanding the method prescribed for calculating the basic premium, be
considered a renewal if the REINSURED has paid [NAME OF REINSURANCE COMPANY] a
first-year policy fee on reinsurance of the original policy and as a new issue
if the REINSURED has not paid [NAME OF REINSURANCE COMPANY] a policy fee on
reinsurance of the original policy.
981173kh.amd / 695
Agreement No. 18 / Revision No. 10 Page 7
AMENDMENT
to each Reinsurance Agreement between IDS LIFE INSURANCE COMPANY of Minneapolis,
Minnesota ("REINSURED"), and [name of reinsurance company] of [city and state of
reinsurance company]("[NAME OF REINSURANCE COMPANY]"), including but not limited
to those agreements listed on the attachment ("Reinsurance Agreements"), but
excluding any agreements which already include an election statement provided
for in Section 1.848-2(g)(8)(iii) of the Income Tax Regulations.
1. The [NAME OF REINSURANCE COMPANY] and the REINSURED each
represents and warrant that it is' subject to taxation under Subchapter "L" of
the Internal Revenue Code of 1986 (the "Code").
2. With respect to each of the Reinsurance Agreements (referred to
separately as "Agreement"), the [NAME OF REINSURANCE COMPANY] and the REINSURED
agree to the following pursuant to Section 1.848-2(g)(8) of the Income Tax
Regulations issued December 1992, whereby:
(a) Each party shall attach a schedule to its federal income tax
return which identifies the relevant Reinsurance Agreements
for which the joint election under the Regulation has been
made;
(b) The party with net positive consideration, as defined in the
Regulation promulgated under Code Section 848, for such
Agreement for each taxable year, shall capitalize specified
policy acquisition expenses with respect to such Agreement
without regard to the general deductions limitation of Section
848(c)(l);
(c) Each party agrees to exchange information pertaining to the
amount of net consideration under such Agreement each year to
ensure consistency; and
(d) If such Agreement was entered into prior to November 15, 1991,
this election shall be effective for 1992 and for all
subsequent years that such Agreement remains in effect. If
such Agreement was entered into after November 14, 1991, this
election shall be effective for the year that the Agreement
was entered into and for all subsequent years that such
Agreement remains in effect.
H10N1FHT / 695
Agreement No. 18 / Revision No. 11 Page 1
3. The provisions of this amendment shall be subject to all the
terms and conditions of the Agreement 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.
IDS LIFE INSURANCE COMPANY
Signed at Mpls, MN
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By /s/ ▇▇▇▇▇ ▇▇▇▇▇▇ By /s/ [ILLEGIBLE]
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Title Reinsurance Actuary Title VP - Finance
---------------------------------------------- -------------------------------------------
Date 6/10/93 Date 6/10/93
---------------------------------------------- -------------------------------------------
[name of reinsurance company]
Signed at [city and state of reinsurance company]
By [signature] By [signature]
---------------------------------------------- -------------------------------------------
[title] [title]
Date 5/24/93 Date 5/24/93
---------------------------------------------- -------------------------------------------
H10N1FHT / 695
Agreement No. 18 / Revision No. 11 Page 1
SUMMARY OF AGREEMENTS FOR BUSINESS ACCEPTED FROM
IDS LIFE INSURANCE COMPANY - MN
COMMON COMPANY NUMBER: 00695
BY
[name of reinsurance company]
AGREEMENT EFFECTIVE
NUMBER DATE STATUS AGREEMENT TYPE DESCRIPTION
------------ ---------- --------- -------------------------
001 09/05/1958 CLOSE RPR
002 08/15/1959 CLOSE RPR
003 07/01/1967 CLOSE EXTENDED WAIT & ▇▇▇
004 07/01/1967 CLOSE EXTENDED WAIT & ▇▇▇
006 01/01/1970 CLOSE RPR
008 06/01/1973 CLOSE ▇▇▇
010 06/01/1981 CLOSE HCX
011 09/01/1982 CLOSE RPR
012 11/01/1983 EFF RPR
013 10/01/1984 CLOSE RPR
018 04/01/1990 EFF RPR
019 08/01/1990 EFF RPR
STATUS DESCRIPTIONS:
--------------------
EFF - REINSURANCE AGREEMENT SIGNED, RETURNED AND IN EFFECT
CLOSE - REINSURANCE AGREEMENT CLOSED, BUT WITH OUTSTANDING BUSINESS STILL
COVERED BY THAT AGREEMENT
PNDG - REINSURANCE AGREEMENT PROPOSED OR PENDING
