EX-99 7 amend17_010102.txt REINSURANCE AGREEMENT Ex-7e AMENDMENT NO. 17 to the VARIABLE ANNUITY GMIB REINSURANCE AGREEMENT EFFECTIVE JANUARY 1, 2002 Between JACKSON NATIONAL LIFE INSURANCE COMPANY ("CEDING COMPANY") and ACE TEMPEST LIFE REINSURANCE LTD. ("REINSURER") Effective April 6, 2009, this Amendment is hereby attached to and becomes a part of the above-described Reinsurance Agreement. It is mutually agreed that the Agreement will be amended to add new Guaranteed Minimum Death Benefit forms designed to handle conversions of older GMDBs, to remove references to the Perspective Rewards product which was never sold with GMIB, and to update the reinsurance premium rates both for policies with these new Guaranteed Minimum Death Benefits and for elimination of Tier 1 and Tier 2 rates for GMIB Forms 7344 and 7365, with issue dates on or after 5/3/2004. To effect these changes, the following provisions of this Agreement are hereby amended: o Schedule B-1, CONTRACTS SUBJECT TO THIS REINSURANCE AGREEMENT, Amendment #9, is hereby replaced by the attached Schedule B-1. o Schedule D, QUARTERLY RE PREMIUM RATE BY CONTRACT TYPE AND GMIB TYPE, Amendment #4, is hereby replaced by the attached Schedule D. Jackson National Life Insurance Company ACE Tempest Life Reinsurance Ltd. By ___Lisa C. Drake_____________ By ___Huan Tseng_____________ Name__Lisa C. Drake_____________ Name__Huan Tseng_____________ Title __SVP & Chief Actuary_______ Title _SVP & Chief Pricing Officer Date __6/15/2009_________________ Date__June 4, 2009______________ SCHEDULE B-1 ANNUITY CONTRACTS Subject to this Reinsurance Agreement PERSPECTIVE II AND FIFTH THIRD PERSPECTIVE II o VA250 is an individual flexible premium variable and fixed annuity VA250 8/03 replaced VA250 VA250 5/04 replaced VA250 8/03 VA220 replaced VA250 5/04 effective 10/04 o VA250G is a group flexible premium variable and fixed annuity VA250G 8/03 replaced VA250G VA250G 5/04 replaced VA250G 8/03 VA220G replaced VA250G 5/04 effective 10/04 o This product has three Contract options: o Separate Account Investment Division option; o Fixed Account Option; and o Indexed Fixed Option (not available on VA220 and VA220G). A) SEPARATE ACCOUNT INVESTMENT DIVISION OPTION o This option allows the Owner to allocate Premiums and earnings to one or more Investment Divisions of the Separate Account. o Separate Account I is used for this Contract. o The Separate Account invests in shares of one of the corresponding Series of the underlying fund of the JNL Series Trust and JNL Variable Fund LLC (see Schedule B-2). B) OPTIONAL BENEFITS FORM NUMBER POLICY DESCRIPTION 7345 Earnings Protection 7360 Earnings Protection effective 10/4/2004 7427 08/03 Death Benefit Option (4% Rollup) 7461 Death Benefit Option (4% Rollup) effective 10/4/2004 7341 Death Benefit Option (5% Rollup) 7341 08/03 Death Benefit Option (5% Rollup) 7463 Death Benefit Option (5% Rollup) effective 10/4/2004 7340 Death Benefit Option (HAV) 7340 08/03 Death Benefit Option (HAV) 7470 Death Benefit Option (HAV) effective 10/4/2004 7428 08/03 Death Benefit Option (Comb HAV and 4% Rollup) 7462 Death Benefit Option (Comb HAV and 4% Rollup) effective 10/4/2004 7342 Death Benefit Option (Comb HAV and 5% Rollup) 7342 08/03 Death Benefit Option (Comb HAV and 5% Rollup) 7464 Death Benefit Option (Comb HAV and 5% Rollup) effective 10/4/2004 7595 Death Benefit Option (HQV) effective 4/6/2009 7596 Death Benefit Option (5% Rollup) effective 4/6/2009 7597 Death Benefit Option (Comb HQV and 5% Rollup) effective 4/6/2009 7598 Death Benefit Option (6% Rollup) effective 4/6/2009 7599 Death Benefit Option (Comb HQV and 6% Rollup) effective 4/6/2009 7349 Additional Free Withdrawal 7343 Shortened W/D Charge Period (5 years) 7465 Shortened W/D Charge Period (5 years) effective 10/4/2004 7429 Shortened W/D Charge Period (3 years) - not available for contracts issued after 4/30/2006 7466 Shortened W/D Charge Period (3 years) effective 10/4/2004 - not available for contracts issued after 4/30/2006 7346 03/03 Premium Credit (4%) 7348 03/03 Premium Credit (2%) 7352 03/03 Premium Credit (3%) 7344 Guaranteed Monthly Income Benefit (6% Roll-up) 7452 Guaranteed Monthly Income Benefit (5% Roll-up) - Effective 5/3/2004 7454 Guaranteed Monthly Income Benefit (5% Roll-up) - Effective 10/4/2004 Washington State Only 7471WA Death Benefit Option (3% Rollup) effective 10/4/2004 7472WA Death Benefit Option (Comb HAV and 3% Rollup) effective 10/4/2004 7600AWA Death Benefit Option (3% Rollup) effective 4/6/2009 7601AWA Death Benefit Option (Comb HQV and 3% Rollup) effective 4/6/2009 PERSPECTIVE FOCUS (no longer available for sale as of 5/2004) o VA260 is an individual flexible Premium variable and fixed annuity o VA260G is a group flexible premium variable and fixed annuity o This product has two Contract options: o Separate Account Investment Division option; o Fixed Account Option A) SEPARATE ACCOUNT INVESTMENT DIVISION OPTION o This option allows the Owner to allocate Premiums and earnings to one or more Investment Divisions of the Separate Account. o Separate Account 1 is used for this Contract. o The Separate Account invests in shares of one of the corresponding Series of the underlying fund of the JNL Series Trust and JNL Variable Fund LLC (see Schedule B-2). B) OPTIONAL BENEFITS FORM NUMBER POLICY DESCRIPTION 7360 Earnings Max 7361 Death Benefit Option (5% Rollup) 7362 Death Benefit Option (MAV) 7363 Death Benefit Option (Comb) 7364 Premium Credit (2%) 7365 Guaranteed Monthly Income Benefit (6% Roll-up) 7380 Reduced Administration Charge Endorsement JNL ACE 2002 TREATY SCHEDULE B-1 AMENDMENT # 17 SCHEDULE D QUARTERLY RE PREMIUM RATE by CONTRACT TYPE and GMIB TYPE The Premium rate for reinsurance, subject to the terms and conditions of this Agreement, are guaranteed while the reinsurance coverage is in effect. The premium rate varies by GMIB form number, VALUATION DATE, and whether certain optional death benefits were elected. CONTRACT TYPES: Perspective II, Perspective Focus, Perspective Rewards GMIB TYPES: I. GMIB FORMS 7344 AND 7365: ANNUITY CONTRACTS with GMDB Form numbers 7340 08/03, 7341 08/03, 7342 08/03, 7427 08/03, 7428 08/03: MONTHLY VALUATION DATE RATE Before 5/1/2004 X.XXXX 5/1/2004 and later Not Converted to DB Form 7596, 7597, 7598, 7599: X.XXXX Converted to DB Form 7596, 7597, 7598, 7599: X.XXXX ANNUITY CONTRACTS with GMDB Form numbers 7340, 7341, 7342, 7361, 7362, 7363, or if no optional death benefit is elected: MONTHLY VALUATION DATE RATE Before 5/1/2004 X.XXXX 5/1/2004 and later Not Converted to DB Form 7596, 7597, 7598, 7599: X.XXXX Converted to DB Form 7596, 7597, 7598, 7599: X.XXXX II. GMIB FORM 7452 AND 7454, WITH ISSUE DATES ON OR AFTER 5/3/2004: ANNUITY CONTRACTS not converted to GMDB Form numbers 7596, 7597, 7598, 7599: RATE X.XXXX ANNUITY CONTRACTS converted to GMDB Form numbers 7596, 7597, 7598, 7599: RATE X.XXXX SCHEDULE D AMENDMENT NO. 17