EX-99.G 2 c32136_ex99-g.txt Exhibit 99(g) AMENDMENT to the Risk Premium Reinsurance Agreement (the "Agreement") between the FIRST INVESTORS LIFE INSURANCE COMPANY of New York, New York, hereinafter referred to as the "REINSURED," and THE LINCOLN NATIONAL LIFE INSURANCE COMPANY of Fort Wayne, Indiana, hereinafter referred to as the "LINCOLN," effective December 1, 1984. 1. The REINSURED'S plans to be reinsured under the Agreement on and after the first day of November, 1987, shall be those specified in the Appendix 1, attached hereto. 2. The term "Reinsurance Amount" shall be defined as the Face Amount at issue less the REINSURED'S retention at issue. The term "Policy Net Amount at Risk" shall be defined as the policy death benefit less the cash value at the Processing Date. The term "Reinsurance Percentage" shall be defined as the Reinsurance Amount divided by the Face Amount. The term "Reinsured Net Amount at Risk" shall be defined as the Reinsurance Percentage multiplied by the Policy Net Amount at Risk as of the Processing Date. The term "Processing Date" shall be defined as the policy anniversary. 3. If the REINSURED'S approval is needed for or results in any change in the death benefit or the Policy Net Amount at Risk, the Reinsurance Amount and Reinsurance Percentage shall be recalculated as of the effective date of any such approved change, subject to the provisions of the "REINSURANCE LIMITS" article of the Agreement. 4. If either the death benefit or the Policy Net Amount at Risk increases without being subject to the REINSURED'S approval, the LINCOLN shall accept automatically the Reinsurance Percentage of such increase, but at no time shall the Reinsured Net Amount at Risk exceed 150% of the Reinsurance Amount, as defined in paragraph 2, above. 5. Any policy Net Amount at Risk in excess of 150% of the Reinsurance Amount shall be retained entirely by the REINSURED. Any subsequent decreases of the increased Policy Net Amount at Risk shall first be applied to decrease the REINSURED'S retention to 150% of its initial retention and any further decreases shall reduce the REINSURED'S retention and the Reinsured Net Amount at Risk proportionately. 6. On and after the first day of November, 1987, the retention limit of the REINSURED shall be that shown in the revised Schedule A, Parts A and B attached hereto. This retention shall apply to reinsurance ceded after the effective date hereof. 7. The REINSURED may cede and the LINCOLN shall accept automatically amounts of reinsurance not to exceed those described in the attached Schedule B. It is expressly understood and agreed that the provisions of this amendment shall be subject to all the terms and conditions of the Agreement of which this amendment is a part which do not conflict with the terms hereof. IN WITNESS WHEREOF the parties hereto have caused this amendment to be executed in duplicate on the dates shown below. FIRST INVESTORS LIFE INSURANCE COMPANY Signed at New York, New York By___________________________________ By____________________________________ Title________________________________ Title_________________________________ Date_________________________________ Date__________________________________ THE LINCOLN NATIONAL LIFE INSURANCE COMPANY Signed at Fort Wayne, Indiana By___________________________________ By____________________________________ Date_________________________________ Date__________________________________ APPENDIX I Insurance Subject to Reinsurance under this Agreement A. One hundred percent of the REINSURED'S entire excess of its issues of the following plans bearing register dates in the range shown below to insureds having surnames beginning with the letters of the alphabet shown below. Dates Letters Plan from through from through ---- ---- ------- ---- ------- Universal Life 12-1-84 - - A Z Variable Life Insurance Policy 11-1-87 - - A Z B. Continuations of the REINSURED'S issues to any of the plans listed above, provided the original policy was reinsured with the LINCOLN under this or another reinsurance agreement. SCHEDULE A, PART A (Effective November 1, 1987) Retention Limits of the REINSURED UNIVERSAL LIFE LIFE* Ages Standard-Table D Over Table D ---- ---------------- ------------ 0-50 $100,000 $50,000 Over 50 70,000 35,000 *At ages 50 through 55 the retention on 10-year non-renewable, non-convertible term shall be $5,000. WAIVER OF PREMIUM DISABILITY Same as Life ACCIDENTAL DEATH $50,000 SCHEDULE A, PART B (Effective November 1, 1987) Retention Limits of the REINSURED* VARIABLE LIFE LIFE INITIAL RETENTION: Ages Standard-Table D Over Table D ---- ---------------- ------------ 0-50 $66,700 $33,350 Over 50 46,700 23,350 *In addition, the REINSURED shall retain its proportionate share of all increases in Policy Net Amount at Risk up to 150% of its share of the Policy Net Amount at Risk at Issue, plus all increases in excess of 150% of the Policy Net Amount at Risk at Issue. SCHEDULE B (Effective November 1, 1987) Maximum Amounts which the REINSURED may cede Automatically LIFE Ages Standard-Table D Tables E-P Over Table P ---- ---------------- ---------- ------------ 0-50 $400,000 $200,000 None 51-70 280,000 140,000 None Over 70 None None None WAIVER OF PREMIUM DISABILITY The REINSURED may cede automatically Waiver of Premium Disability reinsurance in amount 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 $190,000 None Over 65 None None