EX-99.G 10 amendment2munichplnj.htm AMENDMENT # 2 (PRUCO LIFE OF NEW JERSEY AND MUNICH AMERICAN REASSURANCE COMPANY

Amendment #2

to the

AUTOMATIC AND FACULTATIVE

YEARLY RENEWABLE TERM REINSURANCE AGREEMENT

 

EFFECTIVE September 30, 2002

Between

THE PRUDENTIAL INSURANCE COMPANY OF AMERICA

(THE COMPANY)

And

MUNICH AMERICAN REASSURANCE COMPANY

(THE REINSURER)

 

The parties hereby agree to the following:

 

SCHEDULE B, Section 1, STANDARD ANNUAL REINSURANCE PREMIUMS, shall be replaced by the following:

 

 

1.

STANDARD ANNUAL REINSURANCE PREMIUMS

 

The standard annual reinsurance premiums per $1,000 of net amount at risk will be the product of the reinsurance factor, a grading factor and the June 14, 2001 version of the sex and smoker distinct, age last birthday, 2001 Valuation Basic Table attached to this Schedule B.

 

The reinsurance factors vary by underwriting basis (Fully Underwritten, Simplified Issue, Guaranteed Issue) and underwriting class (Select Preferred, Preferred and Standard). The factors for the Select Preferred and Preferred Classes will be applied to the Non-Smoker Valuation Basic Table rates, and the factors for the Standard Class will be applied to the Smoker rates.

 

The standard annual reinsurance factors for (1) all cessions of automatic reinsurance and (2) cessions of facultative reinsurance in the amount of $10 million or less, are shown in the following tables:

 

For policies issued 12/31/2006 and earlier:

 

 

Underwriting Basis

Select Preferred (non-smoker)

Preferred

(non-smoker)

Standard

(smoker)

Fully Underwritten

.570

.630

.750

Simplified Issue

.540

.630

.690

Guaranteed Issue

.640

.730

.800

 

The standard annual reinsurance factors for cessions of facultative reinsurance in excess of $10 million, are shown in the following table:

 

Underwriting Basis

Select Preferred (non-smoker)

Preferred

(non-smoker)

Standard

(smoker)

Fully Underwritten

.627

.693

.825

Simplified Issue

.594

.693

.759

Guaranteed Issue

.768

.876

.960

 

 

Y-PS3-2002-MARC-PLNJ-2

 

For policies issued 1/1/2007 and later:

 

Underwriting Basis

Select Preferred (non-smoker)

Preferred

(non-smoker)

Standard

(smoker)

Fully Underwritten

.630

.690

.720

Simplified Issue

.580

.670

.670

Guaranteed Issue

.690

.770

.730

 

 

The standard annual reinsurance factors for cessions of facultative reinsurance in excess of $10 million, are shown in the following table:

 

Underwriting Basis

Select Preferred (non-smoker)

Preferred

(non-smoker)

Standard

(smoker)

Fully Underwritten

.690

.760

.790

Simplified Issue

.640

.740

.740

Guaranteed Issue

.830

.920

.880

 

For all policies:

 

The grading factors vary by underwriting basis (Fully Underwritten, Simplified Issue, Guaranteed Issue) and duration and are shown in the following table:

 

 

Policy Year

Fully

Underwritten

Simplified

Issue

Guaranteed

Issue

1

100.00%

150.00%

175.00%

2

100.00%

147.50%

171.25%

3

100.00%

145.00%

167.50%

4

100.00%

142.50%

163.75%

5

100.00%

140.00%

160.00%

6

100.00%

137.50%

156.25%

7

100.00%

135.00%

152.50%

8

100.00%

132.50%

148.75%

9

100.00%

130.00%

145.00%

10

100.00%

127.50%

141.25%

11

100.00%

125.00%

137.50%

12

100.00%

122.50%

133.75%

13

100.00%

120.00%

130.00%

14

100.00%

117.50%

126.25%

15

100.00%

115.00%

122.50%

16

100.00%

112.50%

118.75%

17

100.00%

110.00%

115.00%

18

100.00%

107.50%

111.25%

19

100.00%

105.00%

107.50%

20

100.00%

102.50%

103.75%

21+

100.00%

100.00%

100.00%

 

 

 

 

Y-PS3-2002-MARC-PLNJ-2

 

 

Y-PS3-2002-MARC-PLNJ-2

In witness of the above, THE COMPANY and THE REINSURER have by their respective officers executed and delivered this Agreement in duplicate on the dates indicated below, with an effective date of January 1, 2007.

 

 

THE PRUDENTIAL INSURANCE COMPANY OF AMERICA

MUNICH AMERICAN REASSURANCE COMPANY

 

By:

____________________________

By:

______________________________

 

 

Title: ____________________________

Title: ______________________________

 

 

Date: ____________________________

Date: _____________________________

 

 

 

By:

____________________________

By:

______________________________

 

 

Title: ____________________________

Title: ______________________________

 

 

Date: ____________________________

Date: ______________________________

 

 

 

 

 

 

                

 

                

 

 

 

 

 

 

Y-PS3-2002-MARC-PLNJ-2