AMENDMENT
to the Risk Premium Reinsurance Agreement (the "Agreement")
effective September 1, 1983, between
CUNA MUTUAL 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."
1. For reinsurance ceded automatically on and after the first day of January,
2000, 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 Waiver of Premium Accidental Death
---- -------------- ----------------- ----------------
0-69 $10,000,000 $2,000,000 $250,000
70-80 5,000,000 None None
2. On and after the first day of January, 2000, 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 hereof and to
existing reinsurance ceded before the effective date hereof in accordance with
the "INCREASE IN LIMIT OF RETENTION" article of the Agreement of which this
amendment is a part.
3. On and after the first day of January, 2000, the REINSURED may cede and
LINCOLN shall accept automatically amounts of reinsurance not to exceed those
described in the Schedule B, attached hereto.
4. Except as provided in the "CONDITIONAL RECEIPT REINSURANCE" article of the
Agreement, LINCOLN shall have no liability under facultative applications for
reinsurance unless the REINSURED has accepted LINCOLN'S offer to reinsure.
5. 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.
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Agreement No. 8 / Revision No. 23 Page 1
IN WITNESS WHEREOF the parties hereto have caused this amendment
to be executed in duplicate on the dates shown below.
CUNA MUTUAL LIFE INSURANCE COMPANY
Signed at Waverly, Iowa
---------------------------
By /s/ ▇▇▇▇ ▇. ▇▇▇▇▇ By /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
---------------------------------- ---------------------------------
Title Asst Vice President Title AVP, Associate General Counsel
------------------------------- ------------------------------
Date 3/1/00 Date 3/2/00
-------------------------------- -------------------------------
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY
Signed at Fort ▇▇▇▇▇, Indiana
By /s/ ▇▇▇ ▇▇▇▇ By /s/ ▇▇▇▇▇ ▇▇▇▇▇
---------------------------------- --------------------------------
Second Vice President Assistant Secretary
Date 2/18/00 Date 2/17/2000
-------------------------------- ------------------------------
000143df.amd / 762
Agreement No. 8 / Revision No. 23 Page 2
SCHEDULE A
(Effective January 1, 2000)
Retention Limits of the REINSURED
Life
----
Ages Standard-Substandard
---- --------------------
0-69 $1,000,000
Over 69 5,000,000
Waiver of Premium Disability
----------------------------
$1,000,000
Accidental Death
----------------
$250,000
000143df.amd / 762
Agreement ▇▇. ▇ / ▇▇▇▇▇▇▇▇ ▇▇. ▇▇ ▇▇▇▇ ▇
▇▇▇▇▇▇▇▇ ▇
(Effective January 1, 2000)
Maximum Amounts which the REINSURED may cede Automatically
Life
----
Ages Standard-Table P Over Table P
---- ---------------- ------------
0-69 $4,000,000 None
70-80 2,000,000 None
Over 80 None None
Waiver of Premium Disability
----------------------------
The REINSURED may cede automatically Waiver of Premium Disability reinsurance in
amounts applicable to the amount of Life reinsurance ceded automatically not to
exceed the following:
Ages Standard-Table F Over Table F
---- ---------------- ------------
0-44 $,2,000,000 None
45-65 1,000,000 None
Over 65 None None
Accidental Death Benefits
-------------------------
Ages Standard-Table F Over Table F
---- -------------------- ------------
0-65 $100,000 None
Over ▇▇ ▇▇▇▇ ▇▇▇▇
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Agreement No. 8 / Revision No. 23 Page 4
