AMENDMENT
to the Risk Premium Reinsurance Agreement between the
CENTURY LIFE INSURANCE COMPANY of Waverly, Iowa,
hereinafter referred to as the "REINSURED,"
and
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY of Fort ▇▇▇▇▇, Indiana,
hereinafter referred to as the "LINCOLN,"
effective September 1, 1983.
1. On and after the fifteenth day of July, 1986, the retention limit of
the REINSURED shall be that shown in the revised Schedule A attached hereto.
This retention shall apply to reinsurance ceded after the effective date hereof.
2. The reinsurance premium rate for continuations shall be as described
under the above-mentioned reinsurance agreement; for purposes of determining the
appropriate policy fee only, a continuation shall be considered a renewal issue
if the REINSURED has paid the LINCOLN a first-year policy fee on reinsurance of
the original policy and as a new issue if the REINSURED has not paid the LINCOLN
a first-year policy fee on reinsurance of the original policy.
It is expressly understood and agreed that the provisions of this amendment
shall be subject to all the terms and conditions of the reinsurance agreement of
which this amendment is a part which do not conflict with the terms hereof.
Revision No. 9
IN WITNESS WHEREOF the parties hereto have caused this amendment to be
executed in duplicate on the dates shown below.
CENTURY LIFE INSURANCE COMPANY
By /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ ▇▇. By /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
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V.P. Legal & Asst. Sec.
Date October 10, 1986 Date October 8, 1986
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THE LINCOLN NATIONAL LIFE INSURANCE COMPANY
By /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ By /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇
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Vice President Assistant Secretary
Date 10-23-86 Date 10.21.86
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SCHEDULE A
(Effective July 15, 1986)
Retention Limits of the REINSURED
Life*
-----
Ages Standard
---- --------
0-70 $300,000
71-80 25,000
Ages A & AA B & BB C - D E - ▇ ▇ - ▇ ▇ - P
---- -------- --------- -------- -------- -------- -------
0-50 $300,000 $265,000 $225,000 $180,000 $115,000 $60,000
51 289,000 255,000 217,000 173,000 111,000 58,500
52 278,000 245,000 208,000 167,000 106,000 56,000
53 266,000 235,000 200,000 160,000 102,000 53,500
54 255,000 225,000 191,000 153,000 98,000 51,000
55 244,000 215,000 183,000 146,000 93,000 49,500
56 233,000 205,000 174,000 140,000 89,000 47,000
57 221,000 195,000 166,000 133,000 85,000 44,500
58 210,000 186,000 158,000 126,000 81,000 42,000
59 199,000 176,000 149,000 119,000 76,000 40,500
60 188,000 166,000 141,000 113,000 72,000 38,000
61 176,000 156,000 132,000 106,000 68,000 35,500
62 165,000 146,000 124,000 99,000 63,000 33,000
63 154,000 136,000 115,000 92,000 59,000 31,500
64 143,000 126,000 107,000 86,000 55,000 29,000
65 131,000 116,000 98,000 79,000 50,000 26,500
66 120,000 106,000 90,000 72,000 46,000 24,000
67 109,000 96,000 82,000 65,000 42,000 22,500
68 98,000 86,000 73,000 59,000 37,000 20,000
69 86,000 76,000 65,000 52,000 33,000 17,500
70 75,000 66,000 56,000 45,000 29,000 15,000
71-80 25,000 25,000 25,000 25,000 25,000 15,000
*The above amounts shall be exceeded by as much as $15,000 to avoid reinsurance.
Waiver of Premium Disability
----------------------------
Same as Life
Accidental Death
----------------
$100,000**
**The above amounts shall be exceeded by as much as $10,000 to avoid
reinsurance.