Exhibit 1-A(8)(e)(1)
AMENDMENT NO. 1
TO THE MODIFIED COINSURANCE AGREEMENT
BETWEEN
THE AMERICAN FRANKLIN LIFE INSURANCE COMPANY OF SPRINGFIELD, ILLINOIS
AND
THE FRANKLIN LIFE INSURANCE COMPANY OF SPRINGFIELD, ILLINOIS
Except as hereinafter specified, all terms and conditions of the Modified
Coinsurance Agreement dated January 1, 1997, amendments and addenda attached
thereto shall apply, and this amendment is to be attached and made part of
aforesaid agreement.
This amendment is effective September 1, 1997.
I. SCHEDULE I
Replace SCHEDULE I with the attached SCHEDULE I (revised 9-1-97)
II. SCHEDULE II
Replace SCHEDULE II with the attached SCHEDULE II (revised 9-1-97)
In Witness Whereof the REINSURED (The American Franklin Life Insurance Company)
and the REINSURER (The Franklin Life Insurance Company) have signed, duly
attested and dated hereunder by their respective authorized officers:
THE AMERICAN FRANKLIN THE FRANKLIN LIFE
LIFE INSURANCE COMPANY LIFE INSURANCE COMPANY
/s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇
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Signature Signature
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Chairman and President Senior Vice President-Actuarial
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Title Title
/s/ ▇▇▇▇ ▇. Friend /s/ ▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
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Signature Signature
▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
▇▇▇▇ D. Friend Vice President, Associate
Assistant Secretary General Counsel and Assistant Secretary
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Title Title
/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
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Attested Attested
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Vice President Vice President-Actuarial
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Title Title
February 25, 1998 February 25, 1998
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Date Date
(Revised 9-1-97)
SCHEDULE I
POLICIES SUBJECT TO REINSURANCE
Policies on Policy Form T1735 sold by registered representatives of Franklin
Financial Services Corporation, are subject to reinsurance hereunder, except as
provided in Schedule II. Riders, by whomever sold, attached to such policies
are also subject to reinsurance hereunder.
(Revised 9-1-97)
SCHEDULE II
AMOUNT OF REINSURANCE
The portion of the risk reinsured under this Agreement shall be 30% on any
policy to the extent reinsured hereunder, as provided in Schedule I, in
accordance with the following rules:
1. There shall be no reinsurance on any benefit under this Agreement
where the REINSURED does not retain its normal retention of risk on a
policy hereunder.
2. There shall be no reinsurance on policies issued as term conversions
from or replacements of policies originally issued by The Franklin
Life Insurance Company, which were originally reinsured under other
reinsurance agreements.
3. There shall be no reinsurance on an automatic basis for any risk
offered on a facultative basis by the REINSURED to any company.
4. There shall be no reinsurance on policies sold in states where The
Franklin Life Insurance Company does not have variable authority as
required for this modified coinsurance agreement.
Additional states will be included in this agreement by mutual
agreement between the REINSURED and The Franklin Life Insurance
Company at a stated effective date or dates, subject to the provisions
in the prior paragraph.