AMENDMENT 17
EFFECTIVE MARCH 1, 2009
TO THE
AUTOMATIC AND FACULTATIVE YEARLY RENEWABLE TERM REINSURANCE AGREEMENT
EFFECTIVE NOVEMBER 1, 2002, FOR FACULTATIVE BUSINESS
EFFECTIVE DECEMBER 1, 2002, FOR AUTOMATIC BUSINESS
("AGREEMENT")
BETWEEN
HARTFORD LIFE AND ANNUITY INSURANCE COMPANY
("CEDING COMPANY")
AND
TRANSAMERICA LIFE INSURANCE COMPANY
("REINSURER")
WHEREAS, the Reinsurer currently reinsures the Ceding Company's plans or
policies under the Agreement; and
WHEREAS, the Ceding Company and the Reinsurer wish to terminate the Agreement
for new business; and
WHEREAS, the Ceding Company and the Reinsurer wish to amend the Liability and
Termination articles to clarify liability after termination of the Agreement for
new business.
NOW, THEREFORE, for good and valuable consideration, receipt of which is hereby
acknowledged, the Ceding Company and the Reinsurer hereby agree as follows:
I. The above recitals are true and accurate and are incorporated herein.
II. The Agreement terminated for new business effective March 1, 2009.
III. Article III, Liability, is amended to add the following Section I:
I. Following the termination of this Agreement for new business, as
described in Article XX, the Reinsurer shall continue to be liable
for:
1. All Automatic and Facultative Reinsurance in effect prior to such
termination of this Agreement; and
2. All Automatic Reinsurance:
(a) that becomes effective after such termination of this
Agreement on face amount increases issued on, and
reinstatements of, policies issued before such termination of
this Agreement; or
(b) in excess of the Ceding Company's retention that becomes
effective after such termination of this Agreement on face
amount increases issued on fully retained policies issued
before termination; and
SL Excess Treaty -- Effective 11/01/2002
Between HLAIC and TLIC
Amendment #17 -- Effective 03/1/2009
1
3. All Facultative Reinsurance coverage that becomes effective after
such termination of this Agreement, on risks facultatively
submitted to the Reinsurer before such termination.
IV. Article XX, Termination, is deleted in its entirely and replaced with the
following:
A. The Ceding Company and the Reinsurer may terminate this Agreement as
it applies to the new business of each by giving (90) ninety days'
written notice of termination. The day the notice is deposited in the
mail addressed to the Home Office, or to an Officer of each party,
will be the first day of the (90) ninety-day period. In addition,
this Agreement may be terminated immediately for the acceptance of
new reinsurance by either party if one of the parties becomes
insolvent as described in Article XVII.
B. During the (90) ninety-day period, this Agreement will continue to be
in force between the terminating parties.
C. Following the termination of this Agreement for new business, the
terminating parties shall remain liable in accordance with Article
III of this Agreement.
V. Except as herein amended, all other terms and conditions of the Agreement
shall remain unchanged and in full force and effect.
In witness of the foregoing, the Ceding Company and the Reinsurer have, by their
respective officers, executed this Amendment in duplicate on the dates indicated
below.
TRANSAMERICA LIFE INSURANCE COMPANY
by its Administrator and Attorney-in-Fact
SCOR Global Life Americas Reinsurance Company
on June 4, 2012
Signature /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ Signature /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
-------------------------------- --------------------------
Name in Text ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ Name in Text ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
Title: Executive Vice President Title: Assistant Vice President
SCOR Global Life Americas SCOR Global Life Americas
Reinsurance Company Reinsurance Company
HARTFORD LIFE AND ANNUITY INSURANCE COMPANY
By: /s/ ▇▇▇▇ ▇▇▇▇▇▇▇ Attest: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇
-------------------------------------- --------------------------------
Name: ▇▇▇▇ ▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Title: Assistant Vice President and Actuary Title: Vice President and Actuary
Date: June 12, 2012 Date: June 12, 2012
SL Excess Treaty -- Effective 11/01/2002
Between HLAIC and TLIC
Amendment #17 -- Effective 03/1/2009
2
AMENDMENT 21
EFFECTIVE OCTOBER 1, 2008
TO THE
AUTOMATIC AND FACULTATIVE YEARLY RENEWABLE TERM REINSURANCE AGREEMENT
EFFECTIVE NOVEMBER 1, 2002 FOR FACULTATIVE BUSINESS
EFFECTIVE DECEMBER 1, 2002 FOR AUTOMATIC BUSINESS
BETWEEN
HARTFORD LIFE AND ANNUITY INSURANCE COMPANY
("CEDING COMPANY")
AND
TRANSAMERICA LIFE INSURANCE COMPANY
("REINSURER")
("AGREEMENT")
WHEREAS, ▇▇▇▇▇▇▇▇▇ currently reinsures the Ceding Company's plans or policies
under the Agreement; and
WHEREAS, the parties agree that Schedule A has been amended in several
amendments; and
WHEREAS, the parties wish to reflect an updated Schedule A; and
WHEREAS, the parties wish to present revised versions of the Foreign Travel
Exclusion Rider Exhibit IV Underwriting Guidelines and the Foreign Travel
Exclusion Rider Exhibit V List of Countries and Jurisdictions, with no change in
terms or effective dates.
NOW, THEREFORE, for good and valuable consideration, receipt of which is hereby
acknowledged, the Ceding Company and the Reinsurer hereby agree as follows:
I. The above recitals are true and accurate and are incorporated herein.
II. Schedule A is deleted in its entirety and replaced with the attached,
revised Schedule A
III. Exhibits IV and V are deleted in their entirety and replaced with the
attached, revised Exhibits IV and V.
IV. Except as herein amended, all other terms and conditions of the Agreement
shall remain in full force and effect and unchanged.
Single Life Excess Treaty -- Effective 11/01/2002 Fac 12/01/2002 Auto
Between HLAIC and TLIC
Amendment #21 -- Effective 10/1/2008
1
In witness of the foregoing, the Ceding Company and the Reinsurer have, by their
respective officers, executed the amended and restated Amendment in duplicate on
the dates indicated below.
TRANSAMERICA LIFE INSURANCE COMPANY
By its Administrator and Attorney-in-Fact
SCOR GLOBAL LIFE AMERICAS REINSURANCE COMPANY
(F/K/A SCOR GLOBAL LIFE U.S. RE INSURANCE COMPANY)
By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ Attest: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇
---------------------------------------------- ----------------------------------------------
Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇
Title: Executive Vice President Title: Assistant Vice President
SCOR Global Life Americas Reinsurance Company SCOR Global Life Americas Reinsurance Company
Date: December 5, 2011 Date: December 7, 2011
HARTFORD LIFE AND ANNUITY INSURANCE COMPANY
By: /s/ ▇▇▇▇ ▇▇▇▇▇▇▇ Attest: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
---------------------------------------------- ----------------------------------------------
Name: ▇▇▇▇ ▇▇▇▇▇▇▇, FSA, MAAA Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, FSA, MAAA
Title: Assistant Vice President and Actuary Title: Senior Vice President
Individual Life Product Management Individual Life Product Management
Date: May 21, 2012 Date: 5/22/2012
Single Life Excess Treaty -- Effective 11/01/2002 Fac 12/01/2002 Auto
Between HLAIC and TLIC
Amendment #21 -- Effective 10/1/2008
2
SCHEDULE A
PLANS COVERED UNDER THIS AGREEMENT
EFFECTIVE OCTOBER 1, 2008
TYPE OF BUSINESS INDIVIDUAL LIFE INSURANCE ISSUED BY THE CEDING COMPANY
-----------------------------------------------------------------------------------------------------------------
UPSCALE PRODUCTS RIDERS FOR UPSCALE PRODUCTS
Stag Protector Variable Universal Life* Other Covered Insured Rider*
Stag Variable Life Accumulator* Term Rider (base or other insured)*
Stag Universal Life* Accidental Death Benefit Rider*+
SPVL (Fully underwritten only)* Deduction Amount Waiver Rider*
ART (CW), 5 & 10 Year Term (NY)* Waiver of Monthly Deductions Rider*
One Year Term* Waiver of Specified Amount Rider*
Stag Whole Life* Enhanced No Lapse Guarantee Rider*+
Stag Protector Variable Universal Life II Estate Tax Repeal Benefit Rider*+
(eff. December 1, 2003) Level Compensation Endorsement*+
Stag Variable Life Accumulator II Children's Life Insurance Rider*+
(eff. December 1, 2003) Maturity Date Extension Rider*+
Stag Universal Life Cash Value Guaranteed COI Benefit Rider*+
(eff. July 1, 2005) Mortality and Expense Risk Rates Rider*+
Leaders VUL Legacy (eff. May 1, 2008) Cost of Living Adjustment Rider*
Leaders VUL Liberty (eff. May 1, 2008) Foreign Travel Exclusion Rider (eff. November 1, 2002 (fac.);
Bicentennial UL Founders (eff. October 1, 2008) December 1, 2002 (auto) +
Policy Continuation Rider (eff. December 1, 2003) +
Conversion Option Rider (eff. October 2, 2006) +
Guaranteed Issue Option Rider (eff. October 2, 2006) +
Liquidity Enhancement Rider (eff. October 2, 2006) +
Overloan Protection Rider (eff. May 1. 2008) +
Accelerated Death Benefit Rider (eff. January 1, 2004) +
Guaranteed Minimum Accumulation Benefit Rider
(eff. October 1, 2008) +
Paid-Up Life Insurance Rider (eff. October 1, 2008) +
MIDDLE AMERICA PRODUCTS RIDERS FOR MIDDLE AMERICA PRODUCTS
LBSI UL* Term Rider (base or other insured)*
Life Solutions I UL* Waiver of Premium Rider*
Life Solutions II UL* Waiver of Monthly Deductions Rider*
20 Year Term* Additional Purchase Option Rider*+
Life Solutions II UL (2001 CSO version) Disability Income Rider*+
(eff. October 1, 2008)
WOODBURY PRODUCTS RIDERS FOR WOODBURY PRODUCTS
Hartford Stag Wall Street Variable Universal Term Rider (base or other insured)*
Life* Accidental Death Benefit Rider*+
Waiver of Monthly Deductions Rider*
Waiver of Specified Amount Rider*
Children's Life Insurance Rider*+
Accelerated Death Benefit Rider*+
Specify Monthly Deductions Rider*+
Enhanced No Lapse Guarantee Rider*+
------------
* Effective November 1, 2002 (fac.), December 1, 2002 (auto), in treaty
+ The benefit provided by this Rider is not reinsured under this Agreement.
Single Life Excess Treaty -- Effective 11/01/2002 Fac 12/01/2002 Auto
Between HLAIC and TLIC
Amendment #21 -- Effective 10/1/2008
3
DESCRIPTIONS
RIDERS FOR WHICH ADDITIONAL PREMIUM IS DUE TO THE REINSURER:
Other Covered Insured Rider: Provides term coverage for insured other than base
insured.
Term Rider (base or other insured): Provides additional term coverage.
Deduction Amount Waiver Rider: Waives monthly deduction amount if insured is
disabled.
Waiver of Monthly Deductions Rider: Waives monthly deduction amount if insured
is disabled.
Waiver of Specified Amount Rider: Waives specified amount if insured is
disabled.
Waiver of Premium Rider: Waives premium requirement if insured is disabled.
Cost of Living Adjustment Rider: This rider is available at issue only for non
substandard issue ages 0 to 60. The rider allows for face amount increases
without underwriting biannually based on the Consumer Price Index with the
maximum amount of this increase being $50,000.
RIDERS THAT ALTER THE POLICY AND FOR WHICH NO ADDITIONAL PREMIUM IS PAID TO THE
REINSURER. IF A POLICY HAS THIS RIDER IT IS STILL COVERED UNDER THE AGREEMENT:
Accidental Death Benefit Rider: Pays an additional death benefit if the death on
the insured is caused by a qualifying accident.
Additional Purchase Option Rider: Provides additional term coverage.
Children's Life Insurance Rider: Provides additional term coverage for a child.
No separate reinsurance benefits are associated with this rider.
Disability Income Rider: Provides a monthly benefit while the insured is totally
and continuously disabled. The disability must continue for a period of time
which exceeds the waiting period before payments begin. Payments will continue
while the insured is totally disabled, but not longer than the indemnity period
selected. Total disability is defined as inability, due to injury occurring or
illness first appearing after the policy date, to engage in any occupation for
wage or profit for which the insured is reasonably qualified by education,
training, or prior experience.
Enhanced No Lapse Guarantee Rider: This rider guarantees that the policy will
not lapse, regardless of investment performance, provided cumulative premiums
paid less indebtedness less withdrawals are greater than or equal to the
cumulative no lapse guarantee premiums. There is a lifetime option and a limited
term option. The limited term option is the lesser of 20 years or to attained
age 80 for issue ages 0 to 70 and the minimum of 10 years or to attained age 90
for issue ages 71 to 85. Also, at the time when the no lapse guarantee
terminates or defaults, the policyholder may be eligible for an additional
amount of time they have this protection, which is based on the then current
account value.
Single Life Excess Treaty -- Effective 11/01/2002 Fac 12/01/2002 Auto
Between HLAIC and TLIC
Amendment #21 -- Effective 10/1/2008
4
Estate Tax Repeal Benefit Rider: (eff. 11/1/2002 (fac), 12/1/2002 (auto)) This
rider will pay the account value less indebtedness if the FederaI Estate Tax Law
is fully repealed by December 31, 2010 and we receive a request for this benefit
amount from the insured.
(eff 5/1/2008) This rider is automatically added to each policy at issue, and
allows for policy surrender without the assessment of surrender charges,
providing the following conditions are met:
- There is no federal estate tax in effect during the year 2011; and
- The surrender request is received during the month of January 2011.
This rider will terminate at the sooner of:
- The termination date of the policy, or
- January 31, 2011.
Level Compensation Endorsement: Surrender charges are not assessed for a full
surrender during the first three policy years. There is no charge for this
rider.
Maturity Date Extension Rider: When the policyholder reaches the maturity date
and has elected this rider, the death benefit is dropped to the account value,
no more monthly deductions are taken, interest is credited, no further premiums
are accepted, policy loans continue to accrue interest, and all other riders are
terminated.
Guaranteed COl Benefit Rider: This rider provides guaranteed cost of insurance
rates for the first 10 policy years. On each policy anniversary, we declare a
cost of insurance rate for a single policy year. This policy year is the policy
year 9 years from the then current policy anniversary. Thus the rider provides
that on any policy anniversary, cost of insurance rates over the next 10 years
will not exceed those provided by the rider. This rider is currently available
in only a few states and on variable life policy forms where the face amount is
at least thirty million dollars.
Accelerated Death Benefit Rider: With this rider, the policyholder can receive
up to 100% of their death benefit discounted with interest if the life
expectancy is 12 months or less.
Specify Monthly Deductions Rider: This rider allows the policyholder to specify
to take monthly deductions out of a particular account in the policy.
Mortality and Expense Risk Rates Rider: This rider guarantees that the mortality
and expense risk rate will be zero for years greater than and equal to 21.
Policy Continuation Rider: This rider is automatically added to the policy at
issue. This rider is intended to prevent the lapse of highly loaned policies.
Foreign Travel Exclusion Rider: The rider is written such that if the insured
dies while traveling to, from, or in a country NOT listed on the List of
Countries and Jurisdictions (Foreign Travel Exclusion Rider Exhibit V), or dies
as a direct or indirect result of an illness or injury sustained during such
travel, the death benefit proceeds will be limited to the policy's account
value, less any outstanding indebtedness.
Single Life Excess Treaty -- Effective 11/01/2002 Fac 12/01/2002 Auto
Between HLAIC and TLIC
Amendment #21 -- Effective 10/1/2008
5
Conversion Option Rider: During certain policy years prior to the insured's
attained age 70, the policy may be converted, without evidence of insurability,
to any permanent plan of life insurance the Ceding Company then makes available
for conversions of this policy.
Guaranteed Issue Option ("GIO") Rider: This rider allows the policyholder to
increase the face amount of converted Stag Whole Life policies being converted
via the Conversion Option Rider by up to twice their original face amount.
Liquidity Enhancement Rider: This rider shortens the surrender charge period on
Stag Whole Life policies from 9 to 7 years. This rider results in policies'
credited interest rate and commissions being reduced.
Overloan Protection Rider: This rider is automatically added to the policy at
issue. This rider protects a policy from lapsing due to overloan.
Guaranteed Minimum Accumulation Benefit (GMAB) Rider: This rider provides that
at the end of the GMAB Guarantee Period (usually 20 years), the policy account
value will be increased, if necessary, to equal the sum of gross premiums paid
to that date. There is a small monthly charge to the policyholder, and a minimum
cumulative premium requirement to keep the rider in force.
Paid-Up Life Insurance Rider: This rider is similar to GMAB rider with the same
Guarantee Period, a monthly charge, and a cumulative premium requirement. This
rider provides that at the end of the Guarantee Period, policyholder may elect
to change coverage to paid-up life insurance using account value as a 5% Net
Single Premium to determine amount of coverage; however, amount of coverage will
never be lower than the sum of gross premiums paid to that date. Once elected,
premiums are no longer accepted.
Single Life Excess Treaty -- Effective 11/01/2002 Fac 12/01/2002 Auto
Between HLAIC and TLIC
Amendment #21 -- Effective 10/1/2008
6
FOREIGN TRAVEL EXCLUSION RIDER EXHIBIT IV
UNDERWRITING GUIDELINES
EFFECTIVE OCTOBER 1, 2008
UNDERWRITING GUIDELINES
1. A proposed insured is eligible for the rider if they have 30 days or less
of cumulative travel per year to countries and jurisdictions not listed on
Schedule A Foreign Travel Exclusion Rider -- Exhibit II ("Non-Schedule A
Country"), as noted on an application or application amendment to be signed
on delivery of the policy. The rider will NOT be considered /used if a
proposed insured travels beyond 30 cumulative days per year to a
Non-Schedule A country. The proposed insured will either be rated or
declined for travel to Non-Schedule A countries beyond the 30-day limit.
2. If rated coverage is available for travel to a Non-Schedule A country
within the 30-day cumulative annual travel limit, a proposed insured will
have the option of choosing the rating or the exclusion rider.
3. Last survivor Plans, term Plans and the following riders are not eligible:
Other Covered Insured Rider, Children's Life Insurance Rider, Waiver of
Premium Rider, Disability Income Rider, and Accidental Death Benefit Rider.
Term blends on permanent single life plans are eligible.
4. Only United States and Canadian residents are eligible for the rider.
5. Green card residents of the United States are eligible if they reside in
the United States permanently (as evidenced, for example by information
indicating the proposed insured intends to stay in the United States
indefinitely, has resided in the United States for a number of years, is
employed in the United States, or owns property in the United States).
6. For Automatic reinsurance cases, the maximum face amount is $10 million.
7. The minimum face amount is the product's published minimum amount.
8. The maximum age is the product's published maximum age.
9. The minimum age is 18 years of age.
10. Only Preferred and Standard rating classes, including Enhanced Standard are
eligible.
11. Cases may be facultatively submitted. In these situations, the final
reinsuranee offer must indicate agreement to use the rider at the final
rate class quoted.
12. Occupations and other unusual risks are still underwritten.
13. The list of countries and jurisdictions noted on Schedule A Foreign Travel
Exclusion Rider -- Exhibit II will be reviewed at least annually for
changes, or earlier if world events dictate change. Note: The list of
countries and jurisdictions in Schedule A Foreign Travel Exclusion Rider --
Exhibit II was amended once during the duration of this Agreement
(Amendment #10, eff. 11/1/2005).
14. The countries listed on Schedule A Foreign Travel Exclusion Rider --
Exhibit II will not change once a rider is issued to an insured.
15. An amendment will be signed on delivery indicating acceptance of the rider.
SPECIAL CLAIMS HANDLING ISSUE(S):
Death claims that occur due to "diverted" flights to hazardous countries will be
eligible for payment. For example, if a person was flying to a non-excluded
country and the flight was diverted to a Non-Schedule A Country where the
insured subsequently died, the claim would not be excluded from coverage.
Single Life Excess Treaty -- Effective 11/01/2002 Fac 12/01/2002 Auto
Between HLAIC and TLIC
Amendment #21 -- Effective 10/1/2008
7
FOREIGN TRAVEL EXCLUSION RIDER EXHIBIT V
LIST OF COUNTRIES AND JURISDICTIONS
EFFECTIVE OCTOBER 1, 2008
LIST OF COUNTRIES AND JURISDICTIONS NOT LIMITED FOR TRAVEL UNDER THE FOREIGN
TRAVEL EXCLUSION RIDER
AFRICA EUROPE SOUTH AMERICA NORTH AMERICA
Canary Islands Andorra Argentina Bahamas
South Africa Austria Brazil Barbados
Belgium Chile Bermuda
ASIA PACIFIC Denmark Costa Rica British Virgin Islands
Australia Finland Ecuador Canada
Guam France Uruguay Cayman Islands
Hong Kong Germany Grenada
Japan Gibraltar Guadeloupe
▇▇▇▇▇▇▇▇ Islands Greece Jamaica
New Zealand Greenland Martinique
Okinawa Iceland Mexico
Singapore Ireland Netherlands Antilles
Italy Puerto Rico
Liechtenstein Republic of Trinidad and Tobago
Luxembourg St. Lucia
Malta St. ▇▇▇▇▇▇▇ and the Grenadines
Moldova Turks and Caicos Islands
Monaco United States Virgin Islands
Netherlands United States
Norway
Poland
Portugal
Sicily
Spain
Sweden
Switzerland
United Kingdom
Single Life Excess Treaty -- Effective 11/01/2002 Fac 12/01/2002 Auto
Between HLAIC and TLIC
Amendment #21 -- Effective 10/1/2008
8