EX-1 57 e74769_exg4y.txt 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 Wayne, 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. 000143df.amd / 762 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/ Paul A. Lawin By /s/ Barbara L. Secor ---------------------------------- --------------------------------- 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 Wayne, Indiana By /s/ Jay Behl By /s/ Elena Gilev ---------------------------------- -------------------------------- 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 No. 8 / Revision No. 23 Page 3 SCHEDULE B (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 65 None None 000143df.amd / 762 Agreement No. 8 / Revision No. 23 Page 4