Exhibit 27(G)
AMENDMENT NO. I
To Facultative Reinsurance Agreement SANA23489
between
NORTHSTAR LIFE INSURANCE COMPANY (Hereinafter Referred to as the "Company")
and
SWISS RE LIFE & HEALTH AMERICA INC.
(Hereinafter Referred to as "Swiss Re Life & Health")
Except as herein specified, all the terms and conditions of the Facultative
Reinsurance Agreement, effective the first day of January, 1998, shall apply
hereto, and this Amendment shall be attached to and made part of the aforesaid
Agreement and shall have full force and effect so long as the aforesaid
Agreement has full force and effect.
It is mutually agreed that effective the first day of January, 2000, Article III
(Facultative Reinsurance), Page 4, is hereby voided and replaced with the
attached Article III (Facultative Reinsurance), Page 4 - amended.
IN WITNESS WHEREOF, the Company and Swiss Re Life & Health have caused their
names to be subscribed and duly attested hereunder by their respective
Authorized Officers.
NORTHSTAR LIFE INSURANCE COMPANY
By: ________________________________________, _______________________________
Authorized Officer Title
Attest:
By: ________________________________________, _______________________________
Authorized Officer Title
Date: ______________________________________
SWISS RE LIFE & HEALTH AMERICA INC.
By: ________________________________________, _______________________________
Authorized Officer Title
Attest:
By: ________________________________________, _______________________________
Authorized Officer Title
Date: ______________________________________
ARTICLE III
FACULTATIVE REINSURANCE
1. If coverage does not qualify for automatic reinsurance under Article II,
or if the Company does not care to cede coverage on an automatic basis, it
shall seek Swiss Re Life & Health's facultative consideration. Swiss Re
Life & Health agrees to accept liability for any claim(s) that arises
prior to the date a facultative offer is made or accepted by the Company,
provided the following are met:
a) No more than 120 days has passed since the date of a facultative
offer, if such offer has been made, and
b) The facultative application was, or can be, approved by Swiss Re
Life & Health following the underwriting standards for the plan.
SWISS RE LIFE & HEALTH
AUTOMATIC REINSURANCE AGREEMENT
(GROUP LIFE AND GROUP ACCIDENTAL DEATH AND DISMEMBERMENT BENEFITS -- EXCESS
REINSURANCE)
between
NORTHSTAR LIFE INSURANCE COMPANY
Amherst, New York
and
SWISS RE LIFE & HEALTH AMERICA INC.
New York, New York
TABLE OF CONTENTS
ARTICLE TITLE PAGE(S)
------- ----- -------
I. Scope 1
II. Automatic Coverage 2 - 3
III. Facultative Reinsurance 4
IV. Mode of Cession 5 - 6
- Notification of Automatic Reinsurance
- Facultative Submissions
- Cession Form
V. Commencement and Termination of Liability 7
VI. Oversights - Clerical Errors 8
VII. Plan of Reinsurance 9
VII. Group Reinsurance Premium Rates 10 - 11
- Group Life
- Group Accidental Death and Dismemberment
- Reinsurance Rate Modification Procedure for All Group Coverages
IX. Tax Credits 12
X. Premium Accounting 13 - 14
- Accounting-Following Termination of Agreement or Master Policy
- Electronic Data Transmission
XI. Experience Refunds 15 - 17
XII. Conversions 18 - 19
XII. Reinstatements 20
XIV. Reductions 21
XV. Recapture/Retention Limit Increases 22
XVI. Reinsurer's Right of Notice of Unusual Practices 23
XVII. Claims 24 - 25
TABLE OF CONTENTS
ARTICLE TITLE PAGE(S)
------- ----- -------
XVII. Inspection of Records ............................................ 26
XIX. Insolvency ....................................................... 27 - 28
XX. Arbitration ...................................................... 29
XXI. Parties to Agreement ............................................. 30
XXII. Right of Offsetting Balances Due ................................. 31
XXIII. DAC Tax .......................................................... 32 - 33
XXIV. Duration of Agreement ............................................ 34
XXV. Continuations .................................................... 35
SIGNATURE PAGE ................................................... 36
SCHEDULE
SCHEDULE A Maximum Limits of Issue if Automatic
Reinsurance is to Apply .......................................... 37 - 39
SCHEDULE B Retention ........................................................ 40 - 41
SCHEDULE C Groups Not Eligible for Automatic Reinsurance
Under this Agreement ............................................. 42 - 43
SCHEDULE D Facultative Submission of Group Life/AD&D Case ................... 44 - 46
SCHEDULE E Facultative Group Reinsurance Confirmation ....................... 47 - 48
SCHEDULE F Group Life Reinsurance Premiums Rates ............................ 49 - 50
SCHEDULE G Group Life Conversions Reinsurance Statement ..................... 51 - 52
SCHEDULE H Yearly Renewable Term Reinsurance Premium
Rates for Converted Policies ..................................... 53 - 55
SWISS RE LIFE & HEALTH
THIS AGREEMENT between NORTHSTAR LIFE INSURANCE COMPANY, a corporation organized
under the laws of the State of New York, hereinafter referred to as the
"Company", and SWISS RE LIFE & HEALTH AMERICA INC., a corporation organized
under the laws of the State of New York, hereinafter referred to as "Swiss Re
Life & Health", WITNESSETH AS FOLLOWS:
ARTICLE I
Scope
1. On and after the first day of January, 1998, the Company shall reinsure
with Swiss Re Life & Health amounts of Group Life (including Supplemental
and Voluntary, Short- and Long-Term Farm Credit, Group Universal Life,
Variable Group Universal Life) and Accidental Death and Dismemberment
Benefits issued directly by the Company, in excess of its retention. Lives
becoming actively employed after the effective date of this Agreement
shall be included under this Agreement on the dates they become insured as
active, full-time employees. A proportionate share of any Disability
Benefit (Waiver of Premium or Extended Death) written supplemental to the
Life Benefit shall also be reinsured by Swiss Re Life & Health.
Reinsurance may be ceded on an automatic basis, as provided in ARTICLE II,
or may be ceded facultatively, as provided in ARTICLE III.
2. Swiss Re Life & Health shall reinsure any Accelerated Benefit amounts in
excess of the Company's retention.
ARTICLE II
Automatic Coverage
1. Except as provided in paragraph 2, below, whenever the Company issues a
Group Life or a Group Accidental Death and Dismemberment Benefit
Certificate and retains its maximum risk retention as shown in Schedule B,
Swiss Re Life & Health shall automatically accept such benefits in excess
of the Company's retention up to the limits shown in Schedule A.
EXCEPTIONS TO AUTOMATIC COVERAGE
2. Unless Swiss Re Life & Health has specifically agreed to such reinsurance
in writing, no reinsurance may be ceded automatically, where:
a. the benefit limits exceed those specified in Schedule A, whether or
not the Company is retaining for its own risk the excess over the
Schedule A limits;
b. the type of group is listed in Schedule C as an excluded type of
group;
c. the Group Program permits the selection of coverage amounts by the
individual lives insured, except as provided for in Schedule F;
d. coverage is granted to active employees after age 70 which exceeds
65% of the coverage provided before age 65; however, if the minimum
requirements of the Age Discrimination in Employment Act (ADEA)
require higher benefits, the reinsurance may be ceded automatically
if the ADEA minimum standard are not exceeded;
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e. the group would require reinsurance on lives after retirement;
f. the group is underwritten using substantial deviations from the
Company's usual underwriting rules (any increase in the Maximum
Limit of Issue specified in Schedule A, or a deviation of more than
10% from any other rule or limit of the Company shall constitute a
substantial deviation);
g. the Group Master Policy does not contain an actively-at-work
requirement;
h. disabled lives, who incurred their disability prior to the effective
date of the reinsurance on the Group, are to be covered;
i. Corporate-Owned Life Insurance Benefits/Advanced Market Product
Applications are included;
j. the type of group is an Association or a Multiple Employer Trust,
except as provided for in Article I.
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ARTICLE III
Facultative Reinsurance
1. If the coverage provided to a Group does not qualify for automatic
reinsurance under Article II, or if the Company does not care to cede
coverage on an automatic basis, it shall seek Swiss Re Life & Health's
facultative consideration of the case. Swiss Re Life & Health shall have
no liability under such facultative applications unless it does make an
offer of coverage that is accepted by the Company within 120 days of the
date the facultative offer is made by Swiss Re Life & Health. Swiss Re
Life & Health shall have no liability for any claim(s) of which the
Company had notice prior to the date a facultative offer is accepted by
the Company.
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ARTICLE IV
Mode of Cession
NOTIFICATION OF AUTOMATIC REINSURANCE
1. On automatic reinsurance the Company shall, after completing its papers
and approving the risk, promptly forward to Swiss Re Life & Health a
written notification of the important details of the risk, including the
total volume and number of certificates in the group, the maximum
certificate and the individual amounts of Group Life and Group Accidental
Death and Dismemberment Benefits to be reinsured with Swiss Re Life &
Health.
FACULTATIVE SUBMISSIONS
2. When the Company does submit a risk to Swiss Re Life & Health on a
facultative basis, it shall communicate in writing or by telephone the
information indicated on Form Number L(GRP)476/5-95 and
L(GRP)476a/8-95/D:1 (see SCHEDULE D) and send copies of all papers,
including the Master Application, Master Policy, a Certificate, proposal,
and any other information which the Company may have relating to the
insurability of the risk. Swiss Re Life & Health shall promptly notify the
Company of its decision by telephone and will confirm it on Form Number
L(GRP)200/11-95 (see SCHEDULE E).
CESSION FORM
3. As outlined in ARTICLE X, after the end of the month in which the first
premium has been received by the Company, the Company shall send to Swiss
Re Life & Health a premium statement on a form mutually acceptable to the
Company and Swiss Re Life & Health. The initial premium statement for a
case shall be considered to be the cession form for that case.
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4. If copies of papers regarding the insurability of the risk, including the
Master Application, were not sent with the reinsurance notification, they
shall accompany the first premium statement.
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ARTICLE V
Commencement and Termination of Liability
1. On automatic reinsurance coverage, the liability of Swiss Re Life & Health
shall commence simultaneously with that of the Company.
2. On facultative reinsurance coverage, the liability of Swiss Re Life &
Health shall commence simultaneously with that of the Company provided the
Company has accepted a facultative offer from Swiss Re Life & Health
within 120 days of the date Swiss Re Life & Health made the facultative
offer. Swiss Re Life & Health shall have no liability for any claims
reported to the Company prior to the Company's acceptance of a facultative
offer made by Swiss Re Life & Health.
3. The liability of Swiss Re Life & Health shall terminate simultaneously
with that of the Company unless terminated earlier in accordance with
ARTICLES VIII, XV, or XXIV of the Agreement.
4. Neither a merger involving the Company nor the sale of reinsured group
business by the Company shall affect the rights of Swiss Re Life & Health
as reinsurer, nor shall it constitute termination of liability by the
Company purposed of paragraph 3, above. After a merger or sale, the
acquiring company may introduce its own retention immediately if its
retention is lower than the retention of the original Company. If the
retention of the acquiring company is greater than the retention of the
original Company, the retention of the original Company will continue to
be used under this Agreement for a three-year period following the
effective date of the merger or sale. At the end of this three- (3) year
period, the acquiring company may introduce its own retention and
recapture all amounts up to that retention.
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ARTICLE VI
Oversight - Clerical Errors
1. Should the Company fail to cede reinsurance that otherwise would have been
ceded on an automatic basis in accordance with the provisions of this
Agreement, or should either the Company or Swiss Re Life & Health fail to
comply with any of the other terms of this Agreement, and if this is shown
to be unintentional and the result of a misunderstanding, oversight, or
clerical error on the part of either the Company or Swiss Re Life &
Health, then this Agreement shall not be deemed abrogated thereby, but
both companies shall be restored to the position they would have occupied
had no such oversight, misunderstanding, or clerical error occurred. Such
conditions are to be reported and corrected promptly after discovery.
2. If the Company does discover that it did not cede reinsurance on a group
policy or group certificate it should have reinsured automatically under
this Agreement, Swiss Re Life & Health shall require the Company to do an
audit of its records sufficient to determine if automatic reinsurance was
unreported on any other policies or certificates.
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ARTICLE VII
Plan of Reinsurance
1. Except as otherwise provided in this Agreement, the reinsurance ceded
under this Agreement shall be subject to the same term, conditions,
limitations, and restrictions as those contained in the Master Policy
issued by the Company.
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ARTICLE VIII
Group Reinsurance Premium Rates
GROUP LIFE
1. Swiss Re Life & Health shall coinsure the Company's rate basis including
volume, industry and geographic adjustment factors. For the Short- and
Long-Term Farm Credit business, Swiss Re Life & Health shall pay its share
of commissions, state premium tax and fees, plus an expense allowance of
twelve percent (12%) for the first year and renewals. For all other risks
ceded under this Agreement, Swiss Re Life & Health shall pay its share of
commissions, state premium tax and fees, plus an expense allowance of five
percent (5%) for the first year and two percent (2%) for renewals. Premium
rates for Supplemental and Voluntary group coverages will be determined
using the guidelines shown in SCHEDULE F.
For Group Universal Life and Variable Group Universal Life, premium shall
be based on the reinsurance net amount at risk.
2. The total reinsurance premium payable to Swiss Re Life & Health shall be
the reinsurance premium rate per thousand dollars ($1,000) as defined in
the previous paragraph, multiplied by the amount of reinsurance and
divided by one thousand.
GROUP ACCIDENTAL DEATH AND DISMEMBERMENT
3. Swiss Re Life & Health shall coinsure the Company's rate basis less a 15%
ceding allowance.
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REINSURANCE RATE MODIFICATION PROCEDURE FOR ALL GROUP COVERAGES
4. Swiss Re Life & Health will notify the Company, in writing, at least
ninety (90) days in advance of any modification of the reinsurance premium
rates desired by Swiss Re Life & Health, and such modified reinsurance
premium rates shall be effective ninety (90) days from such notice unless
the Company shall notify Swiss Re Life & Health, in writing, within thirty
(30) days following receipt of such notice from Swiss Re Life & Health
that such modified reinsurance premium rates are not acceptable to the
Company. If a mutual agreement between Swiss Re Life & Health and the
Company as to proper reinsurance premium rates on any Master Policy
reinsured under this Agreement is not reached within sixty (60) days of
Swiss Re Life & Health original notification, the reinsurance premium
rates then in effect shall continue unchanged, but Swiss Re Life & Health
may terminate the reinsurance of such Master Policy upon thirty (30) days'
written notice to the Company.
5. If the Company wishes to change the terms of any Master Policy reinsured
under this Agreement, the Company shall notify Swiss Re Life & Health of
such change(s) at least ninety (90) days prior to the effective date of
the change in terms. Within sixty (60) days after receipt of the notice
from the Company, Swiss Re Life & Health will advise the Company of any
modification in the reinsurance premium rate desired by Swiss Re Life &
Health as a result of the Master Policy change(s). The modified
reinsurance premium rates shall become effective on the effective date of
the Master Policy change unless the Company shall notify Swiss Re Life &
Health, in writing, within thirty (30) days that the modification in the
reinsurance premium rate is not acceptable to the Company. In such latter
event, the reinsurance rate modification shall not become effective, but
Swiss Re Life & Health may, within thirty (30) days after receipt of such
latter notice, terminate by written notice the reinsurance on the changed
Master Policy as of the date of the change in the terms of the Master
Policy.
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ARTICLE IX
Tax Credits
1. Except in those instances where Swiss Re Life & Health is taxed directly
and independently on premiums collected by it from the Company, Swiss Re
Life & Health shall reimburse the Company for taxes on reinsurance
premiums paid to states that do not allow reinsurance premiums paid to
Swiss Re Life & Health by the Company as a deduction in the tax statement
of the Company. Such tax reimbursement shall be at an average tax rate
unless the Company requests reimbursement at the exact tax rate.
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ARTICLE X
Premium Accounting
1. Promptly after the close of each calendar month, the Company shall send to
Swiss Re Life & Health statements showing reinsurance premiums due Swiss
Re Life & Health, and reinsurance premium overpayments due the Company. If
the net balance is in favor of Swiss Re Life & Health, the Company shall
remit to Swiss Re Life & Health the amount of such balance with the
reinsurance premium statement. If the net balance is in favor of the
Company, Swiss Re Life & Health shall remit to the Company the amount of
such balance within thirty (30) days after the receipt of the reinsurance
premium statement.
2. Separate premium statements shall be prepared for the first five hundred
thousand dollars ($500,000) or less of reinsurance coverage per
certificate and for the portion of reinsurance coverage in excess of five
hundred thousand dollars ($500,000) per certificate.
3. The five hundred thousand dollars ($500,000) and less per certificate
statement shall indicate the premium due, the number of lives and total
amount of reinsurance currently in force, and the change in the number of
lives and amount of reinsurance since the last statement.
4. The statement for portions of reinsurance coverage in excess of five
hundred thousand dollars ($500,000) per certificate shall provide the
following data on each certificate: insured's name or other
identification, date of birth or age and amount of reinsurance.
ACCOUNTING FOLLOWING TERMINATION OF AGREEMENT OR MASTER POLICY
5. Following termination of this Agreement or of any Master Policy reinsured
under this Agreement, as long as adjustments continue to be necessary, the
Company will, from time to time but not less frequently than quarterly,
submit statements to Swiss Re Life & Health supported by the appropriate
records. If such statement shall show a balance in favor of Swiss Re Life
& Health, the Company shall thereupon remit to Swiss Re Life & Health the
amount of such balance. If such statement shall show a balance in favor of
the Company, Swiss Re Life & Health shall remit to the Company the amount
of such balance within thirty (30) days after receipt of the statement.
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ELECTRONIC DATA TRANSMISSION
6. If the Company chooses to report its reinsurance transactions via electronic
media, the Company shall consult with Swiss Re Life & Health to determine the
appropriate reporting format. Should the Company subsequently desire to make
changes in the data format or the code structure, the Company shall communicate
such changes to Swiss Re Life & Health prior to the use of such changes in
reports to Swiss Re Life & Health.
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ARTICLE XI
Experience Refunds
1. Group Life reinsurance ceded under this Agreement for amounts up to and
including the pooling point shall be eligible for an experience refund.
The experience refund provisions and formula shall be as follows:
2. Minimum Refund Premium
Reinsurance earned paid premiums must be at least two hundred thousand
dollars ($200,000) in a calendar year.
If at the end of the year, the earned refund premiums paid to Swiss Re Life &
Health are less than two hundred thousand dollars ($200,000), the account will
be converted to non-refund basis. No experience refund is payable for such year.
A loss in a non-refund year will not be carried over.
POOLING POINT
The pooling point is $300,000 above the Company's retention.
RETENTION CHARGE
The retention charge shall be 4% of the total Group Life reinsurance
premium for amounts up to and including the pooling point.
RETENTION BASIS EXPERIENCE REFUND FORMULA
ER(T) = Experience Refund for the T.
ER(T) = DP(T) - CFRC(T)
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DP(T) = P(T) - RC(T) - C(T) - IC(T) - CC(T) - COL(T)-1 (1 + i(T-1) ), WHERE:
DP(T) is the Distributable Profit for the year T.
P(T) are reinsurance premiums paid and earned in the year T
for reinsurance amounts up to and including the
pooling point.
RC(T) is the retention charge in the year T, according to the
retention charge above, i.e., 4% of P(T).
C(T) are commissions and allowances, if any, paid and earned
in the year T for reinsurance amounts up to and
including the pooling point.
IC(T) are incurred refund claim in the year T. IC(T) equals
paid claims (up to the pooling point) plus the change in
claims in course-of-settlement, plus the change in
waiver of premium claims reserves. Incurred but not
reported reserves (IBNR) are not included in IC(T).
CC(T) are conversion charges in the year T (at average rate of
125/M) for life reinsurance amounts up to and including
the pooling point.
COL(T-1) are carryover losses from prior years.
i{T-1} is the interest rate credited to the Carryover Losses
and is equal to Swiss Re Life & Health's prior year
annual statement rate.
T is a 12 consecutive month period.
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CFR(T) is the Claim Fluctuation Reserve at end of year T and is
equal to CFRT-1(1 + iT-1) + CFRCT. Maximum CFR is
$500,000.
CFRC(T) 100% of DP until a minimum CFR of $300,000 is
established. Thereafter, the CFRC is the lesser of 50%
of DPT or 10% premiums until the CFR reaches its maximum
of $500,000. Thereafter, if the CFR will exceed $500,000,
the CFRC will be negative to bring the CFR to its
maximum.
3. Swiss Re Life & Health may amend the terms of the experience refund with
thirty (30) days' written notice.
4. No experience refund is due on any Group Accidental Death and
Dismemberment premiums.
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ARTICLE XII
Conversions
1. Should a Group Certificate of Insurance reinsured hereunder be converted
to an Individual Insurance Policy, Swiss Re Life & Health shall continue
to reinsure its proportionate share of the converted policy under this
Agreement as detailed in this Article.
2. The mode of reinsurance on such converted policies will be Yearly
Renewable Term (YRT). The reinsured risk amount shall be calculated
annually on the policy anniversary and shall equal the face amount
reinsured less the cash value on the amount reinsured.
3. Premiums shall be payable annually in advance and until further notice
will be at the rates shown in SCHEDULE H. Swiss Re Life & Health
guarantees that premium rates for a given attained age shall not exceed
the higher of the rate shown in SCHEDULE H for that age or the one-year
term rate of the applicable 1980 CSO table at the maximum statutory
valuation rate approved in New York State.
4. In any month in which a certificate converts, or a converted policy has an
anniversary, the Company will complete and send to Swiss Re Life & Health,
along with the appropriate reinsurance premium, a statement in substantial
conformity to the Group Life Conversions Reinsurance Statement shown in
SCHEDULE G.
5. Should a converted policy terminate on a date other than a policy
anniversary, Swiss Re Life & Health will refund the Company an unearned
reinsurance premium.
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6. If the Company increases its Group retention, it shall not recapture from
Swiss Re Life & Health amounts of reinsurance on converted policies
proportionate to its increase in retention, unless Swiss Re Life & Health
agrees otherwise in writing.
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ARTICLE XIII
Reinstatements
1. Should a lapsed Master Policy or group insurance on any individual be
reinstated in accordance with the terms of the policy and the rules of the
Company, the reinsurance shall be reinstated automatically. Notice of
reinstatement shall be sent to Swiss Re Life & Health within a reasonable
time after the insurance has been reinstated by the Company. Premiums on
reinstated reinsurance shall be payable only to the extent that the
Company collects the premiums on such insurance.
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ARTICLE XIV
Reductions
1. If insurance on a reinsured life is reduced for any reason, the
reinsurance of Swiss Re Life & Health shall be decreased by a like amount.
Should the amount of insurance be reduced to an amount less than the
retention amount shown in SCHEDULE B, RETENTION FORMULA, the reinsurance
provided by Swiss Re Life & Health shall be terminated.
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ARTICLE XV
Recapture/Retention Limit Increases
1. If the Company increases its Group retention, it shall have the option of
recapturing from Swiss Re Life & Health, upon ninety (90) days' written
notice, amounts of in-force reinsurance sufficient to fill its new
retention. If the Company elects to recapture, the recapture shall apply
to all in-force reinsurance, including retired lives, unless Swiss Re Life
& Health agrees otherwise in writing.
2. Recapture shall not apply to active Waiver-of-Premium claimants.
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ARTICLE XVI
Reinsurer's Right of Notice of Unusual Practices
1. In providing reinsurance facilities to the Company under this Agreement,
Swiss Re Life & Health has granted the Company considerable authority with
respect to automatic binding power, reinstatements, claim settlements, and
the general administration of the reinsurance account. To facilitate
transactions, Swiss Re Life & Health has required the minimum amount of
information and documentation possible, reflecting its utmost faith and
confidence in the Company. Swiss Re Life & Health assumes that, except as
otherwise notified by the Company, the underwriting, claims and other
insurance practices employed by the Company with respect to reinsurance
ceded under this Agreement are generally consistent with the customary and
usual practices of the insurance industry as a whole. Where the Company
does engage in exceptional or uncustomary practices, the Company agrees to
make those practices known to Swiss Re Life & Health before assigning any
liability to Swiss Re Life & Health with respect to any reinsurance issued
under such practices.
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ARTICLE XVII
Claims
1. Contractual claim settlements made by the Company shall be unconditionally
binding on Swiss Re Life & Health. If the whole risk on any particular
claim is carried by Swiss Re Life & Health, Swiss Re Life & Health shall
be consulted before admission or acknowledgment of the claim is made by
the Company. However, such consultation shall not impair the Company's
freedom to determine the proper action on the claim, and the contractual
settlement made by the Company shall still be unconditionally binding on
Swiss Re Life & Health.
2. The Company shall furnish Swiss Re Life & Health with copies of the proofs
of claim, together with any information the Company may possess in
connection with the claim. Payment in settlement of the reinsurance under
a claim approved and paid by the Company for a life reinsured hereunder
shall be made by Swiss Re Life & Health upon receipt of the claim papers.
3. In the case of death claims payable under optional modes of settlement,
Swiss Re Life & Health's claim payment shall be made in a lump sum. Such
lump sum shall be Swiss Re Life & Health's share of the face amount of the
certificate.
4. Swiss Re Life & Health shall share in the expense of any contest or
compromise of a claim in the same proportion that the net amount at risk
reinsured with Swiss Re Life & Health bears to the total net risk of the
Company on the total amount of insurance being contested by the Company.
Swiss Re Life & Health shall share in the total amount of any savings in
the same proportion. Covered claim expenses shall include cost of
investigation, legal fees, court costs and interest charges, if any.
Compensation of salaried officers and employees shall not be considered
covered expenses.
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5. Swiss Re Life & Health shall not be liable for any extracontractual
damages including, but not limited to, punitive, exemplary, compensatory
and consequential damages assessed against the Company.
6. Any savings to the Company due to subrogation or a reimbursement agreement
shall be shared with Swiss Re Life & Health in proportion to Swiss Re Life
& Health's share of the risk.
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ARTICLE XVIII
Inspection of Records
1. Swiss Re Life & Health shall have the right at all reasonable times to
inspect at the offices of the Company all books and documents relating to
the reinsurance covered by this Agreement.
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ARTICLE XIX
Insolvency
1. In the event of the insolvency of the Company, all reinsurance made,
ceded, renewed, or otherwise becoming effective under this Agreement shall
be payable by Swiss Re Life & Health directly to the Company or to its
liquidator, receiver, or statutory successor on the basis of liability of
the Company under the contract or contracts reinsured without diminution
because of the insolvency of the Company. It is understood, however, that
in the event of the insolvency of the Company, the liquidator, receiver,
or statutory successor of the insolvent Company shall give written notice
of the pendency of a claim against the insolvent Company on the policy
reinsured within a reasonable time after such claim is filed in the
insolvency proceeding, and that, during the pendency of such claim, Swiss
Re Life & Health may investigate such claim and interpose, at its own
expense, in the proceeding where such claim is to be adjudicated, any
defense or defenses which it may deem available to the Company or to its
liquidator or receiver or statutory successor.
2. It is further understood that the expense thus incurred by Swiss Re Life &
Health shall be chargeable, subject to court approval, against the
insolvent Company as part of the expense of liquidation to the extent of a
proportionate share of the benefit which may accrue to the Company as a
result of the defense undertaken by Swiss Re Life & Health. Where two or
more assuming insurers are involved in the same claim and a majority in
interest elect to interpose defense to such claim, the expense shall be
apportioned in accordance with the terms of the reinsurance agreement as
though such expense has been incurred by the Company.
3. In the event of the insolvency of Swiss Re Life & Health or the
appointment of receivers therefor, the liability of Swiss Re Life & Health
shall not terminate but shall continue with respect to the reinsurance
ceded to Swiss Re Life & Health by the Company prior to the date of such
insolvency or appointment, and the Company shall have a security interest
in any and all sums held by or under deposit in the name of Swiss Re Life
& Health.
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4. In the event of the insolvency of Swiss Re Life & Health, the Company may
terminate this Agreement and recapture all reinsures business with ninety
(90) days' written notice. Swiss Re Life & Health shall notify the Company
in the event of Swiss Re Life & Health's insolvency. If the Agreement is
terminated under this Article, Swiss Re Life & Health, its liquidator,
receiver or statutory successor will remain liable for any outstanding
payments incurred prior to the date of termination.
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ARTICLE XX
Arbitration
1. In the event of any difference arising hereafter between the contracting
parties with reference to any transaction under the Agreement, the same
shall be referred to three arbitrators who must be current or former
executive officers of life insurance or life reinsurance companies other
than the two parties to this Agreement or their affiliates, each of the
contracting companies to appoint one of the arbitrators, and such two
arbitrators to select the third. If either party refuses or neglects to
appoint an arbitrator within sixty (60) days after receipt of the written
request for arbitration, the other party may appoint a second arbitrator.
2. If the two arbitrators fail to agree on the selection of a third
arbitrator within sixty (60) days of their appointment, each of them shall
name three individuals, of whom the other shall decline two, and the
decision shall be made by drawing lots.
3. The arbitrators shall consider this Reinsurance Agreement not merely as a
legal document but also as a gentlemen's agreement. They shall decide by a
majority vote of the arbitrators. There shall be no appeal from their
written decision.
4. Each party shall bear the expense of its own arbitration including its
arbitrator and outside attorney fees, and shall jointly and equally bear
with the other party the expense of the third arbitrator unless determined
otherwise by the arbitrators. Any remaining costs of the arbitration
proceedings shall be apportioned by the Board of Arbitrators.
29
ARTICLE XXI
Parties to Agreement
1. This Agreement is an indemnity reinsurance agreement solely between the
Company and Swiss Re Life & Health. The acceptance of reinsurance
hereunder shall not create any right or legal relation between Swiss Re
Life & Health and the insured, owner, beneficiary, or any other party
under any Master Policy or certificate of insurance of the Company
reinsured hereunder.
30
ARTICLE XXII
Right of Offsetting Balances Due
1. The Company and Swiss Re Life & Health shall have, and may exercise at any
time, the right to offset any balance or balances due one party to the
other, its successors or assigns, against balances due the other party
under this Agreement or under any other Agreements or Contracts previously
or subsequently entered into between the Company and Swiss Re Life &
Health. This right of offset shall not be affected or diminished because
of the insolvency of either party to this Agreement.
31
ARTICLE XXIII
DAC Tax
ELECTION STATEMENT
1. The Company and Swiss Re Life & Health hereby agree to the following
pursuant to Section 1.848-2(g) (8) of the Income Tax Regulation issued
December 1992, under Section 848 of the Internal Revenue Code of 1986, as
amended. This election shall be effective for 1992 and for all subsequent
taxable years for which this Agreement remains in effect.
A. The term "party" will refer to either the Company or Swiss Re Life &
Health as appropriate.
B. The terms used in this Article are defined by reference to
Regulation 1.848-2 in effect December 1992.
C. The party with the net positive consideration for this Agreement for
each taxable year will capitalize specified policy acquisition
expenses with respect to this Agreement without regard to the
general deductions limitation of Section 848(c) (1).
D. Both parties agree to exchange information pertaining to the amount
of net consideration under this Agreement each year to ensure
consistency or as otherwise required by the Internal Revenue
Service.
32
E. The Company will submit a schedule to Swiss Re Life & Health by May
1st of each year, of its calculation of the net consideration for
the preceding calendar year. This schedule of calculations will be
accompanied by a statement stating that the Company will report such
net consideration in its tax return for the preceding calendar year.
F. Swiss Re Life & Health may contest such calculation by providing an
alternative calculation to the Company by June 1st. If Swiss Re Life
& Health does not so notify the Company, the Company will report the
net consideration as determined by the Company in the Company's tax
return for the previous calendar year.
G. If Swiss Re Life & Health contests the Company's calculation of the
net considerations, the parties will act in good faith to reach an
agreement as to the correct amount by July 1st. If the Company and
Swiss Re Life & Health reach agreement on an amount of the net
consideration, each party shall report such amount in their
respective tax returns for the previous calendar year.
2. Swiss Re Life & Health and the Company represent and warrant that they are
subject to U.S. taxation under Subchapter L of Chapter 1 of the Internal
Revenue Code.
33
ARTICLE XXIV
Duration of Agreement
1. This Agreement shall be unlimited as to its duration, but may be cancelled
at any time by either party giving ninety (90) days' notice of
cancellation in writing. Swiss Re Life & Health shall continue to accept
reinsurance during this ninety- (90) day period and shall remain liable on
all reinsurance granted under this Agreement until the end of the ninety-
(90) day period aforesaid or the earlier termination in accordance with
Article V, VIII, or XV.
2. At cancellation of this Agreement, Waiver-of-Premium Disabled Lives
continue to be reinsured on a non-refund basis.
34
ARTICLE XXV
Continuations
1. For products containing a portability provision, Swiss Re Life & Health
shall reinsure all amounts continued under the policy's portability
provision on the same basis it reinsures the active lines for that case.
Products that include a portability provision will not automatically be
subjected to facultative submission under Article II, Automatic Coverage,
Section 2, e.
35
IN WITNESS WHEREOF, the Company and Swiss Re Life & Health have caused their
names to be subscribed and duly attested hereunder by their respective
Authorized Officers.
NORTHSTAR LIFE INSURANCE COMPANY
By: ______________________________ , _________________________________
Authorized Officer Title
Attest:
By: ______________________________ , _________________________________
Authorized Officer Title
Date: ___________________
SWISS RE LIFE & HEALTH AMERICA INC.
By: ______________________________ , _________________________________
Authorized Officer Title
Attest:
By: ______________________________ , _________________________________
Authorized Officer Title
Date: ___________________
36
SCHEDULE A
NORTHSTAR LIFE INSURANCE COMPANY'S
MAXIMUM LIMITS OF ISSUE IF AUTOMATIC REINSURANCE IS TO APPLY
37
SCHEDULE A
NORTHSTAR LIFE INSURANCE COMPANY'S MAXIMUM GUARANTEE ISSUE LIMITS FOR
AUTOMATIC REINSURANCE TO APPLY
I. LIFE INSURANCE
A B C
TOTAL VOLUME OF GI SCHEDULE(1) AVERAGE FACTOR(2)
GROUP LIFE INSURANCE
10,000,000 to 550,000 12
12,500,000
12,500,000 to 600,000 12
15,000,000
15,000,000 to 650,000 12
20,000,000
20,000,000 to 700,000 12
25,000,000
25,000,000 to 750,000 12
30,000,000
30,000,000 to 800,000 12
35,000,000
35,000,000 to 900,000 12
40,000,000
40,000,000 to 1,000,000 12
45,000,000
45,000,000 to 1,000,000 12
50,000,000
50,000,000 to 1,000,000 12
55,000,000
55,000,000 to 1,000,000 12
60,000,000
60,000,000 to 1,000,000 12
65,000,000
65,000,000 to 1,000,000 12
70,000,000
70,000,000 and over 1,000,000 12
(1) This schedule is applicable to both noncontributory and standard
single-choice contributory plans where 60% minimum participation is
required.
(2) The GI maximum is the lesser of the GI Schedule amount (Column B) or the
product of the average factor times the average certificate. In
determining the average certificate, use no more than one-half of the
appropriate GI Schedule amount on any one life.
38
II. AD&D INSURANCE
A B C
TOTAL VOLUME OF GI SCHEDULE(1) AVERAGE FACTOR(2)
GROUP LIFE INSURANCE
2,500,000 to 3,000,000 225,000 10
3,000,000 to 3,500,000 250,000 10
3,500,000 to 4,000,000 275,000 11
4,000,000 to 4,500,000 300,000 11
4,500,000 to 5,000,000 325,000 12
5,000,000 to 6,000,000 350,000 12
6,000,000 to 7,000,000 375,000 12
7,000,000 to 8,000,000 400,000 12
8,000,000 to 9,000,000 425,000 12
9,000,000 to 10,000,000 465,000 12
10,000,000 to 12,500,000 550,000 12
12,500,000 to 15,000,000 600,000 12
15,000,000 to 20,000,000 650,000 12
20,000,000 to 25,000,000 700,000 12
25,000,000 to 30,000,000 750,000 12
30,000,000 to 35,000,000 800,000 12
35,000,000 to 40,000,000 900,000 12
40,000,000 to 45,000,000 1,000,000 12
45,000,000 to 50,000,000 1,000,000 12
50,000,000 to 55,000,000 1,000,000 12
55,000,000 to 60,000,000 1,000,000 12
60,000,000 to 65,000,000 1,000,000 12
65,000,000 to 70,000,000 1,000,000 12
70,000,000 and over 1,000,000 12
(1) This schedule is applicable to both noncontributory and standard
single-choice contributory plans where 60% minimum participation is
required.
(2) The GI maximum is the lesser of the GI Schedule amount (Column B) or the
product of the average factor times the average certificate. In
determining the average certificate, use no more than one-half of the
appropriate GI Schedule amount on any one life.
39
SCHEDULE B
RETENTION
40
SCHEDULE B
NORTHSTAR LIFE INSURANCE COMPANY'S MAXIMUM RETENTION LIMITS FOR GROUP LIFE
AND GROUP ACCIDENTAL DEATH AND DISMEMBERMENT
Group Life $200,000
Group Accidental Death and Dismemberment $200,000
The Company's retention shall apply separately to each certificate amount or
individual policy amount issued to any life covered under the terms of this
Agreement. Multiple certificates or policies shall not be totaled and offset by
one retention.
41
SCHEDULE C
GROUPS NOT ELIGIBLE FOR AUTOMATIC REINSURANCE UNDER THIS AGREEMENT
42
SCHEDULE C
GROUPS NOT ELIGIBLE FOR AUTOMATIC REINSURANCE UNDER THIS AGREEMENT
1. Sports Teams
2. Airlines
3. Mining
4. Oil and Gas (Exploration, Production, Refining)
5. Chemical Processing
43
SCHEDULE D
FACULTATIVE SUBMISSION OF GROUP LIFE/AD&D CASE
44
Facultative Submission of Group Life/AD&D Case SWISS RE AMERICA
Swiss Re Life Company America
SCHEDULE D ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇
Underwriting Worksheet Page 1 of 2 New York, N.Y. 10017
-------------------------------------------------------------------------------
Ceding company name Date
-------------------------------------------------------------------------------
Ceding company contact Underwriter
-------------------------------------------------------------------------------
Type of contact [ ]Telephone [ ]Correspondence [ ]In-person
-------------------------------------------------------------------------------
Name of group
-------------------------------------------------------------------------------
Location
-------------------------------------------------------------------------------
Industry
-------------------------------------------------------------------------------
Coverages: [ ] Group Life [ ] AD&D [ ] CC [ ] Other [ ]
-------------------------------------------------------------------------------
Group Life volume : Gross:
$ Reinsurance $ No. of lives
-------------------------------------------------------------------------------
AD&D
[ ] Volume same as Group Life or, if not: gross $ Reinsurance $
[ ] 24 hour [ ] Nonoccupational
-------------------------------------------------------------------------------
Underwriting decision:
[ ] Approved [ ] Declined [ ] Further information needed
-------------------------------------------------------------------------------
Checklist of other information to note below and on attachment
[ ] Plan of insurance [ ] Hazardous occupations [ ] Reasons for movement
[ ] Age/retirement reductions [ ] Retro (prior approval needed?) [ ] Reinsurance terms
[ ] Top 25 amounts and ages [ ] Current coverage: carrier, plan, rates, experience [ ] Air travel (normal business only?)
[ ] Contributory or noncontributory [ ] Rates: manual, to be quoted, other carrier quotes [ ]
-------------------------------------------------------------------------------
Comments and other information:
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
Date paid
-------------------------------------------------------------------------------
45
Distribution: White = Pending UW File, Canary = Permanent UW file,
Pink = Swiss Re Life Company America, Gold = ▇. ▇▇▇▇▇
Facultative Submission of Group Life/AD&D Case SWISS RE AMERICA
Underwriting Worksheet
SCHEDULE D Page 2 of 2
-------------------------------------------------------------------------------
Ceding company name Date
-------------------------------------------------------------------------------
CENSUS
Item Age/YOB Amount Item Age/YOB Amount
1 14
---------------------------------- ----------------------------------
2 15
---------------------------------- ----------------------------------
3 16
---------------------------------- ----------------------------------
4 17
---------------------------------- ----------------------------------
5 18
---------------------------------- ----------------------------------
6 19
---------------------------------- ----------------------------------
7 20
---------------------------------- ----------------------------------
8 21
---------------------------------- ----------------------------------
9 22
---------------------------------- ----------------------------------
10 23
---------------------------------- ----------------------------------
11 24
---------------------------------- ----------------------------------
12 25
---------------------------------- ----------------------------------
13 TOTAL
--------------------------------------------------------------------------------
GUARANTEED ISSUE CALCULATIONS
--------------------------------------------------------------------------------
(a) Total top 25
--------------------------------------------------------------------------------
(b) Total all other
--------------------------------------------------------------------------------
(c) Grand total case
--------------------------------------------------------------------------------
(d) Reduction in (a) *
--------------------------------------------------------------------------------
(e) 12% x [(a) - (d)]
--------------------------------------------------------------------------------
(f) 3% x (b)
--------------------------------------------------------------------------------
(g) G.I.L. = (e) + (f)
--------------------------------------------------------------------------------
(h) Amounts top 25 above age 60
--------------------------------------------------------------------------------
(i) Underwriting judgement of G.I.L. **
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
*Total of amounts in (a) that exceed $100M or, if number of lives is over 200,
total of amounts in (a) that exceed $500 x number of lives (with maximum of
$200M).
** Consideration should be given to age reduction, amounts above age 60, amounts
on top lives, special hazards, etc.
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
46
SCHEDULE E
FACULTATIVE GROUP REINSURANCE CONFIRMATION
47
FACULTATIVE GROUP REINSURANCE SWISS RE AMERICA
CONFIRMATION
Swiss Re Life Company America
SCHEDULE E ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇
▇▇▇ ▇▇▇▇, ▇.▇. ▇▇▇▇▇
--------------------------------------------------------------------------------
Ceding company name
--------------------------------------------------------------------------------
Ceding company contact
--------------------------------------------------------------------------------
Type of contact
[ ] Telephone [ ] Correspondence [ ] In-person
--------------------------------------------------------------------------------
Name of group
--------------------------------------------------------------------------------
Location
--------------------------------------------------------------------------------
Coverages:
[ ] Group Life [ ] AD&D [ ] Common carrier [ ] Other (explain in "comments")
--------------------------------------------------------------------------------
Reinsurance
--------------------------------------------------------------------------------
[ ] Excess Non medical limit $
--------------------
Ceding company retention $
--------------------
[ ] Quota Share
Non medical limit $
--------------------
Percentage to be reinsured %
--------------------
[ ] Other (explain in "comments")
--------------------------------------------------------------------------------
Comments
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
SRA underwriter signature Date
--------------------------------------------------------------------------------
48
Distribution: White = Ceding company contract, Canary = Pending,
Pink = ▇. ▇▇▇▇▇, Gold = ▇. ▇▇▇▇▇▇▇▇
SCHEDULE F
UNDERWRITING GUIDELINES FOR SUPPLEMENTAL AND VOLUNTARY GROUP COVERAGES
49
SCHEDULE F
UNDERWRITING GUIDELINES FOR SUPPLEMENTAL AND VOLUNTARY GROUP COVERAGES FOR
AUTOMATIC REINSURANCE TO APPLY
Combined supplemental and basic maximum not to exceed Guaranteed Issue Schedule
A.
REINSURANCE
PARTICIPATION CHOICES UNDERWRITING REINSURANCE PRICING
60% + No All Guaranteed Issue Excess Coinsurance
40 - 59% No All Guaranteed Issue Excess Coinsurance + 15%
20 - 39% No All Guaranteed Issue Modified Excess Coinsurance(2)
LT 20% No All Guaranteed Issue Facultative Coinsurance(2)
Quota Share
60% + Yes All Guaranteed Issue Excess Coinsurance + 15%
40 - 59% Yes All Guaranteed Issue Modified Excess(1) Coinsurance(2)
LT 40% Yes All Guaranteed Issue Facultative Coinsurance(2)
Quota Share
60% + Yes 1st Choice Guaranteed Excess Coinsurance
Issue and then Simplified
Issue
40 - 59% Yes " " " Excess Coinsurance + 15%
20 - 39% Yes " " " Modified Excess(1) Coinsurance(2)
LT 20% Yes " " " Facultative Coinsurance(2)
Quota Share
All Levels Yes or
No All Simplified Issue Excess Coinsurance
(1) Modified Excess - Generally Swiss Re Life & Health reinsures 50% of
amounts in excess of $50,000 until the Company's retention has been met,
and then 100% of the excess.
(2) Coinsurance - Reinsurance pricing based on the Company's gross rate basis.
Swiss Re Life & Health pays its share of commissions and premium taxes
plus expense allowance on new business of 5% first year and 2% for renewal
years and on in-force business of 2% all years.
50
SCHEDULE G
GROUP LIFE CONVERSIONS REINSURANCE STATEMENT
51
SCHEDULE G
Group Life Conversions Reinsurance Statement SWISS RE AMERICA
-------------------------------------------------------------------------------
Ceding Company State Mode of premium payment
-------------------------------------------------------------------------------
Report for premiums due to ceding company Date report made to SRA
in the month of
-------------------------------------------------------------------------------
Name of Insured and
Individual Policy Number Group Name Sex Date of Birth Policy Type Transaction Issue Date
(see *) (see **)
-----------------------------------------------------------------------------------------------------------------------------------
[ ] M [ ] F
-----------------------------------------------------------------------------------------------------------------------------------
[ ] M [ ] F
-----------------------------------------------------------------------------------------------------------------------------------
[ ] M [ ] F
-----------------------------------------------------------------------------------------------------------------------------------
[ ] M [ ] F
-----------------------------------------------------------------------------------------------------------------------------------
[ ] M [ ] F
-----------------------------------------------------------------------------------------------------------------------------------
[ ] M [ ] F
-----------------------------------------------------------------------------------------------------------------------------------
[ ] M [ ] F
-----------------------------------------------------------------------------------------------------------------------------------
[ ] M [ ] F
-----------------------------------------------------------------------------------------------------------------------------------
[ ] M [ ] F
-----------------------------------------------------------------------------------------------------------------------------------
[ ] M [ ] F
-----------------------------------------------------------------------------------------------------------------------------------
[ ] M [ ] F
-----------------------------------------------------------------------------------------------------------------------------------
Swiss Re Life Company America
▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇
▇▇▇ ▇▇▇▇, ▇.▇. ▇▇▇▇▇
In-force last statement *[ ] Term **[ ] N - New [ ] RE - Reinstatement
Lives [ ] ▇.▇. [ ] R - Renewal [ ] C - Change
Reins. Volume [ ] U.L. [ ] T - Termination
Substan- Flat
Current Original Group Converted dard Extra Net Rein-
Premium Group Amount Amount Reinsurance Rating Premium surance
Due Amount Converted Reinsured Rate (if any) (if any) Premium
Date
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
52
SCHEDULE H
YEARLY RENEWABLE TERM REINSURANCE PREMIUMS FOR CONVERTED POLICIES
53
SCHEDULE H
Premiums for $1,000 of Risk Premium Reinsurance
Standard Male Non-Refund
AGE NEAREST BIRTHDAY
ATTAINED ATTAINED ATTAINED
AGE YRT RATE AGE YRT RATE AGE YRT RATE
0 4.00 45 4.60 73 43.80
1-18 1.30 46 5.00 74 47.20
19 1.30 47 5.40 75 50.90
20 1.40 48 5.90 76 54.80
21 1.40 49 6.50 77 58.70
22 1.50 50 7.00 78 63.00
23 1.50 51 7.50 79 67.00
24 1.50 52 8.00 80 71.00
25 1.50 53 8.70 81 76.00
26 1.60 54 9.30 82 82.00
27 1.60 55 10.00 83 90.00
28 1.70 56 10.90 84 102.00
29 1.70 57 11.80 85 115.00
30 1.80 58 12.90 86 129.00
31 1.80 59 13.95 87 144.00
32 1.90 60 15.10 88 159.00
33 1.90 61 16.40 89 174.00
34 1.90 62 17.80 90 190.00
35 2.00 63 19.30 91 210.00
36 2.10 64 21.00 92 230.00
37 2.20 65 22.80 93 250.00
38 2.40 66 24.80 94 275.00
39 2.50 67 26.90 95 300.00
40 2.80 68 29.30 96 325.00
41 3.00 69 31.80 97 350.00
42 3.40 70 34.50 98 375.00
43 3.70 71 37.40 99 400.00
44 4.20 72 40.50
NRN-6042
FEMALE RATES
Rates for females equal the rates for males two years younger, except that rates
for females 0-18 equal the rates for males of the same ages, and rates for
females 19-20 equal those for males age 18.
54
SCHEDULE H
Premiums for $1,000 of Risk Premium Reinsurance
Standard Male Non-Refund
AGE LAST BIRTHDAY
ATTAINED ATTAINED ATTAINED
AGE YRT RATE AGE YRT RATE AGE YRT RATE
0 4.00 45 4.80 73 45.50
1-18 1.30 46 5.20 74 49.05
19 1.35 47 5.65 75 52.85
20 1.40 48 6.20 76 56.75
21 1.45 49 6.75 77 60.85
22 1.50 50 7.25 78 65.00
23 1.50 51 7.75 79 69.00
24 1.50 52 8.35 80 73.50
25 1.55 53 9.00 81 79.00
26 1.60 54 9.65 82 86.00
27 1.65 55 10.15 83 96.00
28 1.70 56 11.05 84 108.50
29 1.75 57 12.35 85 122.00
30 1.80 58 13.43 86 136.50
31 1.85 59 14.53 87 151.50
32 1.90 60 15.75 88 166.50
33 1.90 61 17.10 89 182.00
34 1.95 62 18.55 90 200.00
35 2.05 63 20.15 91 220.00
36 2.15 64 21.90 92 240.00
37 2.30 65 23.80 93 262.50
38 2.45 66 25.85 94 287.50
39 2.65 67 28.10 95 312.50
40 2.90 68 30.55 96 337.50
41 3.20 69 33.15 97 362.50
42 3.55 70 35.95 98 387.50
43 3.95 71 38.95 99 412.50
44 4.40 72 42.15
NRN-6042
FEMALE RATES
Rates for females equal the rates for males two years younger, except that rates
for females 0-18 equal the rates for males of the same ages, and rates for
females 19-20 equal those for males age 18.
55