<PAGE>   1
                                                                    EXHIBIT 10.4

                      AUTOMATIC REINSURANCE AGREEMENT NO. 1

                                     Between

                   WESTERN RESERVE LIFE ASSURANCE CO. OF OHIO

                   (hereinafter referred to as the "Company")

                                       and

                       WMA LIFE INSURANCE COMPANY LIMITED

                  (hereinafter referred to as the "Reinsurer")












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                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                      PAGE
                                                                      ----
ARTICLE  TITLE
-------  -----
<S>      <C>                                                          <C>
I.       BASIS OF REINSURANCE                                            3
II.      DEFINITIONS                                                     4
III.     COMMENCEMENT AND TERMINATION OF LIABILITY                       9
IV.      THE AMOUNT REINSURED AND THE COMPANY AMOUNT AT RISK            10
V.       REINSURANCE PREMIUMS                                           14
VI.      REINSURANCE ALLOWANCES                                         15
VII.     INITIAL CEDING ALLOWANCE FOR EACH BLOCK                        16
VIII.    REIMBURSEMENT FOR TAXES                                        16
IX.      INITIAL SETTLEMENT AND SUBSEQUENT ACCOUNTING                   16
X.       REPORTING                                                      18
XI.      REDUCTIONS                                                     20
XII.     FUNDS HELD, LETTER OF CREDIT                                   20
XIII.    REDUCTION OF REINSURANCE BY COMPANY (RECAPTURE)                23
XIV.     REINSTATEMENTS                                                 25
XV.      POLICY CHANGES                                                 25
XVI.     SETTLEMENT OF CLAIMS                                           25
XVII.    RECORDS                                                        30
XVIII.   DAC TAX (Section 1.848-2(g)(8) Election)                       31
XIX.     OVERSIGHTS - CLERICAL ERRORS                                   32
XX.      INSOLVENCY                                                     32
XXI.     ARBITRATION                                                    34
XXII.    PARTIES TO AGREEMENT                                           35
XXIII.   DURATION OF REINSURANCE AND TERMINATION OF AGREEMENT           36
XXIV.    WRITTEN NOTICE                                                 37
XXV.     OFFSET                                                         38
XXVI.    ASSIGNMENT OF REINSURANCE                                      38
XXVII.   ENTIRE AGREEMENT                                               39
XXVIII.  COMPANY'S PRACTICES, FORMS                                     39
XXIX.    HEADINGS                                                       40
XXX.     EXECUTION OF AGREEMENT                                         40
</TABLE>


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         This Agreement is entered into by the Company and the Reinsurer on the
Execution Date. The reinsurance under this Agreement is effective for each Block
as of the respective dates shown in Exhibit A, as described in Article III. In
consideration of the mutual covenants contained in this Agreement, the parties
agree as follows:

ARTICLE I. BASIS OF REINSURANCE

1.       Reinsurance Coverage. On and after the respective Effective Dates set
         forth for each Block in Exhibit A, the Company shall cede and the
         Reinsurer shall reinsure certain individual life insurance coverages as
         stated in Exhibit A which have been or are to be issued directly by the
         Company on lives on the plans set forth in Exhibit A, including any
         accelerated death benefit rider set forth in Exhibit A. Only plans sold
         by and through agents of Producer registered with WMA Securities, Inc.
         shall be reinsured under this Agreement.

2.       Type of Reinsurance. The reinsurance under this Agreement shall be on
         the monthly renewable term plan. The Reinsurance Premiums shall be
         payable on a monthly renewable term basis as described in Article V.

3.       Automatic Basis. All reinsurance under this Agreement shall be on an
         automatic basis. The Reinsurer shall automatically accept such
         Reinsurance on the terms provided in Exhibit A.

4.       Reinsurance Outside This Agreement. The Company retains the right to
         reinsure, with any reinsurer, any or all of its plans or coverages
         automatically in excess of the Company's normal retention and
         facultatively, where appropriate. The Company shall cede and the
         Reinsurer shall reinsure lives as described in Paragraph 1 of this
         Article, notwithstanding such Outside Reinsurance except as provided in
         Paragraph 5(a) of this Article.

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5.       Exceptions to Reinsurance Coverage.

         a)      Below Normal Retention. Reinsurance shall not be ceded under
                 this Agreement on any insured person if as a result of Outside
                 Reinsurance the Company keeps less than its normal retention
                 on such life. For purposes of this Paragraph, the Company's
                 normal retention means the Company's retention amounts under
                 the Company's current practices as may be in effect from time
                 to time. The Company's normal retention amounts on the
                 Execution Date are set forth in Exhibit A.
            
         b)      Exchanges.  A policy or rider shall not be reinsured under this
                 Agreement if it is issued as an Exchange of a policy or rider
                 which is not reinsured under this Agreement. A policy or rider
                 otherwise eligible for reinsurance under this Agreement and
                 issued as an Exchange of a policy or rider which is reinsured
                 under this Agreement may be reinsured under this Agreement
                 only with the written consent of the Reinsurer.
            
         c)      Minimum Cession Amount. No reinsurance shall be ceded under
                 this Agreement on a life if the Amount Reinsured to be ceded
                 is less than $3,500.

ARTICLE II.  DEFINITIONS. Any defined term used in this Agreement shall have the
meaning ascribed to it in this Article. Any term not defined in this Agreement
which is in general usage in the life reinsurance industry shall be given the
same meaning as such general usage ascribes to that term, giving due
consideration to the context in which the term is used in this Agreement.

         "AMOUNT REINSURED" OR "AMOUNT REINSURANCE" means the amount of
reinsurance ceded by the Company to the Reinsurer under this Agreement on the
life of an insured person. It is the amount of life insurance ceded for which
the Reinsurer is at

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risk under this Agreement on the life of the insured person. The Amount
Reinsured per insured life is calculated as set forth in Paragraph 1 of Article
IV.

         "ARTICLE" OR "PARAGRAPH" refers to an Article or Paragraph of this
Agreement.

         "BLOCK" means a defined group of reinsured policies (including
reinsured riders, if applicable) having Policy Dates within a certain time
period, as set forth in Exhibit A.

         "CLAIMS RATIO" is a ratio used to determine the Reinsurer's share of
liability for certain items in Article XVI relating to a claim under a reinsured
policy or rider. The numerator of the ratio is the Amount Reinsured on which
Reinsurance Premiums have been computed. The denominator is the amount of the
death benefit, as defined in the reinsured policy (and/or reinsured rider, if
applicable), minus the cash value of the reinsured policy.

         "CLOSED BLOCK" means a Block which consists of in-force policies on
the Block's Effective Date. Closed Block refers to Block 1. If a Policy
otherwise eligible to be included in the Closed Block is not in force on the
Effective Date, it shall not be included in the Closed Block and shall not be
ceded under this Agreement, even if the Policy or Rider is subsequently
reinstated.

         "COMPANY AMOUNT AT RISK" on any insured person means the amount for
which the Company is at risk on the life of the insured person, before giving
any effect to reinsurance under this Agreement. The Company Amount at Risk on an
insured person is calculated as set forth in Paragraph 2 of Article IV. The
Company Amount at Risk is the amount retained by the Company net of any risk
ceded by the Company on the life of the insured person under any Outside
Reinsurance.

         "EFFECTIVE DATE" of the Closed Block means, with respect to Reinsured
Plans of the Closed Block, the date shown in

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Exhibit A on which reinsurance under this Agreement becomes effective. The
Company is liable for Reinsurance Premiums, less applicable Reinsurance
Allowances, due on or after the Effective Date of a Reinsured Plan within the
Block; and the Reinsurer is liable for any reinsured deaths occurring on or
after the Effective Date.

         "EXCHANGE" means a policy or rider issued by the Company in exchange
for, or as a conversion of, an in-force policy or rider on the same life under
an Exchange Program.

         "EXCHANGE PROGRAM" means an offer by the Company to a class of
policyowners or insured persons to issue an Exchange policy or rider on terms or
conditions materially different from the terms and conditions on which the
Company would offer the same policy form or rider form under its normal
practices for new business such that the risk or benefits borne by the Company
under the Exchange policy or rider are materially different. The altered terms
or conditions under an Exchange Program may include, for example, but are not
limited to, an offer by the Company to the eligible class: to waive evidence of
insurability or certain policy contract provisions; to retain the original
policy date or original effective date of the rider; or to alter or waive
material underwriting or issuance practices or requirements.

         "EXECUTION DATE" means the date as of which this Agreement has been
executed, as shown in Article XXX.

         "EXHIBIT" AND "SCHEDULE" mean, respectively, an exhibit or schedule
attached to this Agreement and shall be considered part of this Agreement.

         "INITIAL CEDING ALLOWANCE" means any one-time consideration the
Reinsurer shall pay the Company for each Reinsured Plan within a Block, in
consideration for the Reinsurer being allowed to reinsure the Block, as provided
in Article VII. The amount of the Initial Ceding Allowance, if any, for each
Block is set forth in Exhibit A.

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         "INITIAL SETTLEMENT DATE" of a Block coincides with the Execution Date
or the Effective Date of the applicable Block, if later. It is the date as of
which the initial settlement is made by the parties with regard to the Closed
Block, as described in Article IX, Paragraph 1.

         "INSOLVENCY" of a party means the filing or involuntary filing of a
petition for bankruptcy of the party; the commencement of any legal action for
an assignment for the benefit of creditors of the party or similar legal action;
the entry of any preliminary or final order by any regulatory authority or
administrative agency placing the party under supervision, rehabilitation,
liquidation, conservatorship, guardianship or other administrative finding of,
or proceeding arising from, the party's financial impairment or financial
insolvency.

         "MONTHIVERSARY" has the same meaning ascribed to it in a reinsured
policy. It is the day of each calendar month coinciding with a policy's Policy
Date.

         "OPEN BLOCKS" refers collectively to Block 2 and 3. "OPEN BLOCK" refers
individually to Block 2 or Block 3.

         "OUTSIDE REINSURANCE" means any other facultative or automatic
reinsurance the Company has ceded or may cede to other reinsurers on lives
insured by the Company under the plans set forth in Exhibit A.  "OUTSIDE
REINSURER" means any other reinsurer providing outside Reinsurance to the
Company.

         "PARTY" OR "PARTY" refers to either the Company or the Reinsurer as
appropriate, and "PARTIES"" refers to both collectively.

         "POINT IN SCALE" means that the Reinsurance Premium Rates set forth in
Schedule I shall be applied at the Reinsurance Premium Rate appropriate for the
current duration of the policy or rider coverage, even though reinsurance of the
policy or

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rider may commence later than the original Policy Date or the effective date of
the reinsured rider. For example, in the case of a unchanged policy dated June
1, 1993 which becomes reinsured under this Agreement as of June 1, 1996: because
that policy begins its fourth policy year on June 1, 1996, the Reinsurance
Premium Rate charged under this Agreement for June, 1996 will be at the
appropriate Reinsurance Premium Rate set forth in Table I for the fourth policy
year based on the insured's original issue age.

         "POLICY DATE" means the Policy Date as set forth in the Policy Schedule
of a reinsured policy. It is the date coverage is effective under the Policy and
the date monthly deductions commence under the Policy. Policy months, years,
Monthiversaries and anniversaries are measured from the Policy Date.

         "PRODUCER" means World Marketing Alliance, Inc. And WMA Securities,
Inc.

         "RECORD DATE" means the Record Date as set forth on Page 3 of the
reinsured policy. It is the date the policy is recorded on the Company's books
as an in-force policy.

         "REINSURANCE ALLOWANCE" is the percentage of each Reinsurance Premium
which is paid or allowed by the Reinsurer to the Company, as described in
Article VI and set forth in Exhibit A.

         "REINSURANCE PREMIUM" means the reinsurance premiums due from the
Company to the Reinsurer, as described in Article V, for each life reinsured
under this Agreement.

         "REINSURANCE PREMIUM RATES" means the monthly term reinsurance premiums
rates, used to calculate the Reinsurance Premiums due from the Company to the
Reinsurer for each reinsured life, equal to 1/12th of the applicable annual rate
as set forth in Schedule I.

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         "REINSURED PLAN" means any life insurance policy form or rider form
reinsured under this Agreement, as set forth in Exhibit A.

         "SETTLEMENT PERIOD" means the period as described in Paragraph 1 of
Article IX.

         "SPECIFIED AMOUNT" means the Specified Amount as set forth in the
Policy Schedule of a reinsured policy.

ARTICLE III.  COMMENCEMENT AND TERMINATION OF LIABILITY

1.       Closed Block; Commencement of Liability. For each policy within Block
         1, the liability of the Reinsurer for reinsurance under this Agreement
         shall begin on the Effective Date as set forth in Exhibit A, and no
         reinsurance is provided under this Agreement for a death occurring
         prior to the Effective Date applicable to that policy. For each policy
         within Block 1, the liability of the Company for Reinsurance Premiums,
         less applicable Reinsurance Allowances, shall begin on the Effective
         Date as set forth in Exhibit A.

2.       Open Blocks; Commencement of Liability. For a policy or rider reinsured
         under Block 2 or 3: (i) the liability of the Reinsurer under this
         Agreement for reinsurance shall commence simultaneously with the
         beginning of the Company's liability under each corresponding Reinsured
         Plan or any application or conditional receipt therefor; and (ii) the
         liability of the Company for Reinsurance Premiums under this Agreement
         shall begin as of the Policy Date of the reinsured policy or as of the
         effective date of reinsured rider, if different. The Company represents
         that its normal underwriting practice is to promptly return any premium
         payment taken with an application which the Company has declined
         without a counteroffer; however, failure of the Company to do so shall
         not relieve the Reinsurer for its liability under this Paragraph.



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3        Termination of Reinsurer's Liability. In no event shall the Reinsurer's
         liability for reinsurance continue after termination of the Company's
         liability for any claims relating to its corresponding reinsured policy
         or rider.

ARTICLE IV.  THE AMOUNT REINSURED AND THE COMPANY AMOUNT AT RISK

1.       The Amount Reinsured.

         a)       The Amount Reinsured for Plans Without Outside Reinsurance. 
                  For each Reinsured Plan without any Outside Reinsurance, the
                  initial Amount Reinsured per life under this Agreement shall
                  be equal to 50% of the first $60,000 of Specified Amount for a
                  base policy or 50% of the first $60,000 of the Face Amount of
                  any Other Insured Rider, subject to a maximum Amount Reinsured
                  of $30,000 per life. In the event that the Specified Amount
                  for any base policy without Outside Reinsurance is less than
                  $60,000 and the policy has a reinsured rider on the same
                  primary insured person, then 50% of the Specified Amount of
                  the base policy plus up to 50% of the Face Amount of the
                  reinsured rider shall be reinsured subject to the total Amount
                  Reinsured not exceeding $30,000 for the life reinsured.

         b)       The Amount Reinsured for Plans With Outside Reinsurance. For
                  each Reinsured Plan having Outside Reinsurance the Amount
                  Reinsured per life under this Agreement shall be equal to 50%
                  of the first $60,000 of the Company Amount at Risk under the
                  Reinsured Plans on that person's life. The maximum limit per
                  life to be reinsured under this Agreement shall be $30,000.
                  For example, the Amount of Reinsurance on a reinsured life
                  which has Outside Reinsurance is $30,000 if the Company Amount
                  at Risk on that life equals or exceeds $60,000.

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         c)       The Amount Reinsured to Remain Level; Exceptions. Except as
                  provided in Paragraph 1.d) of this Article, the Amount of
                  Reinsurance once ceded on a Reinsured Plan on a life will
                  remain level until such time that the Company Amount at Risk
                  is less than the Amount Reinsured; in that case the Amount
                  Reinsured will be equal to the Company Amount at Risk.

         d)       The Amount Reinsured Affected by Policy Changes. A policy
                  change which affects the Company Amount at Risk, such as a
                  change in Death Benefit Option, a change in the policy's
                  Specified Amount, a change in the Face Amount of a rider, or
                  an addition or deletion of a rider, will result in a new
                  calculation of the Amount Reinsured, in the manner described
                  in the first two sentences of Paragraph 1.a) of this Article
                  if there is no Outside Reinsurance on the life reinsured. For
                  lives with Outside Reinsurance the recalculated Amount
                  Reinsured will be calculated in the manner described in the
                  first two sentences of Paragraph 1.b) of this Article. The new
                  Amount Reinsured, following any change, shall be applied under
                  this Agreement prospectively from the effective date of the
                  policy change.

         e)       The Amount for which Reinsurer is Liable under Conditional
                  Receipts or Applications. With regard to liability of the
                  Company under the terms of an application for a policy or
                  rider to be reinsured under this Agreement or under the terms
                  of a conditional receipt issued in connection with such
                  application, the liability of the Reinsurer under this
                  Agreement shall be equal to 50% of the first $60,000 per life
                  of the Company's liability, plus any amounts for which the
                  Reinsurer is responsible under Article XVI.

         f)       Reinsurance Terminates if Amount Reinsured Falls Below Minimum
                  Cession Amount. If for any reason the

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                  Amount Reinsured on a life reinsured under this Agreement
                  falls below the Minimum Cession Amount described in Paragraph
                  5 c) of Article I, then the reinsurance on that life shall
                  terminate under this Agreement and shall be automatically and
                  permanently recaptured by the Company.

2.       The Company Amount at Risk. The Company Amount at Risk per life under
         each Reinsured Plan shall be calculated each period as follows:

         a)       Under a newly issued policy. For a newly issued policy, prior
                  to the third month of the calendar quarter in which the
                  reinsured policy's Record Date falls, the Company Amount at
                  Risk is equal to the following sum:

                  (i)      the specified amount of the policy (including the
                           Face Amount of any reinsured rider on the same life,
                           if applicable); minus

                  (ii)     any amount ceded by the Company on the life of the
                           insured person under any Outside Reinsurance; plus

                  (iii)    any amounts retained by the Company under prior
                           policies or riders reinsured under this Agreement on
                           the same life.

                  For the newly issued policy, in the third month of the
                  calendar quarter in which its Record Date falls, and
                  thereafter, the Company Amount at Risk shall be calculated as
                  set forth in Paragraph 2.b) of this Article.

                  For example: for a policy issued on a Record Date of January
                  15th with a Policy Date of December 10th, the Company Amount
                  at Risk under that policy in December, January and February
                  will be calculated

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                  under Paragraph 2.a) of this Article; in March, which is the
                  third month of the calendar quarter in which that policy's
                  Record Date falls, the Company Amount at Risk would be
                  calculated under Paragraph 2 b) of this Article.

         b)       Under an in-force policy. Except as provided in 2 a) of this
                  Article, in each calendar month, the Company Amount at Risk
                  per life is equal to the following sum:

                  (i)      the death benefit, as defined in the reinsured policy
                           (including the Face Amount of any reinsured rider, if
                           applicable); minus

                  (ii)     any amount ceded by the Company on the life of the
                           insured person under any Outside Reinsurance; plus

                  (iii)    any amounts retained by the Company under prior
                           policies or riders reinsured under this Agreement on
                           the same life; minus

                  (iv)     the cash value of the reinsured policy.

                  If the Company Amount at Risk under a reinsured policy is
                  being calculated for the third month of a calendar quarter
                  (e.g., March, June, September or December), then the cash
                  value of the policy for that month, for purposes of Paragraph
                  2.b) (iv), is equal to the cash value of the reinsured policy
                  as of the end of that month. Except as provided in Paragraph
                  2.c) of this Article, if the Company Amount at Risk under a
                  reinsured policy is being calculated for any other month, the
                  cash value of the policy, for purposes of Paragraph 2.b) (iv),
                  is measured by and equal to the cash value of the reinsured
                  policy as of the end of the preceding calendar quarter. Thus,
                  for example, for purposes of Paragraph 2.b) (iv), the

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                  cash value of a policy for January or February would be equal
                  to the policy's cash value for the preceding December.

         c)       Policy Changes affecting Company Amount at Risk. For purposes
                  of Paragraph 2.b) of this Article, changes in a policy's
                  Company Amount at Risk which are due to normal cash value
                  fluctuation shall be calculated and reported quarterly, as
                  described in the last three sentences of Paragraph 2.b). Other
                  changes in the Company Amount at Risk of a policy or rider due
                  to a policy change shall be recalculated and reported under
                  this Agreement in or for the month in which the policy change
                  occurs. For this purpose, such policy changes may include, for
                  example, a change in Death Benefit Option, a change in the
                  policy's Specified Amount, a change in the Face Amount of a
                  rider, and an addition or deletion of a rider.

ARTICLE V. REINSURANCE PREMIUMS

1.       Reinsurance Premium Rates. The monthly Reinsurance Premiums due from
         the Company to the Reinsurer shall be calculated at the end of each
         calendar month based on the Amount Reinsured under each Reinsured Plan
         as of its Monthiversary falling in that calendar month. The Company
         shall pay to the Reinsurer the Reinsurance Premiums on a monthly
         renewable term basis at one twelfth of the applicable annual
         Reinsurance Premium Rates set forth in Schedule I. The Reinsurance
         Premium Rates are guaranteed by the Reinsurer except where a particular
         rate is less than the applicable rate set forth in the Table of
         Guaranteed Maximum Life Insurance Rates of the reinsured policies; in
         that case, to the extent of such shortfall, such particular rate shall
         only be guaranteed for one Policy Year, so that the Reinsurer need not
         maintain deficiency reserves in connection with such Reinsurance
         Premiums payable pursuant to this Agreement. Nevertheless, Reinsurer
         shall anticipate continuing to


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         accept reinsurance on the basis of the Reinsurance Premium Rates for
         all Reinsured Plans that were originally ceded pursuant to such rates.

2.       Table Ratings. The Reinsurance Premium Rates in Schedule 1, when
         applied to any Reinsured Plan which is issued by the Company with a
         table rating, shall be multiplied by the appropriate table percentage
         which is in effect for that policy or rider. The Company's current
         table percentages are as set forth in Schedule I.

3.       Risks Bearing Permanent Flat Extras (More Than Five Years). The total
         reinsurance premium for risks bearing flat extra ratings of more than
         five (5) years shall be at the Reinsurance Premium Rates provided in
         Schedule I plus the following percentage of the flat extra mortality
         charge under the Reinsured Plan for the Amount Reinsured.

                  First Year      25%
                  Renewal Years   90%

4.       Risks Bearing Temporary Flat Extras (Five Years or Less). The total
         reinsurance premium for risks bearing flat extra ratings of five (5)
         years or less shall be at the Reinsurance Premium Rates provided in
         Schedule I plus 90% of the temporary flat extra mortality charge under
         the Reinsured Plan for the Amount Reinsured.

ARTICLE VI. REINSURANCE ALLOWANCES

1.      Reinsurance Allowance. On each Reinsurance Premium due Reinsurer, the
        Reinsurer shall pay or allow to the Company a Reinsurance Allowance
        equal to a percentage of the Reinsurance Premium, as shown in Exhibit A.
        The Reinsurer shall not be obligated to pay or reimburse the Company for
        expenses incurred by the Company associated medical examinations,
        inspection reports or other expenses associated with the issuance,
        acquisition or administration a policy or rider.

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2.       Flat Extras. However, in the case of risks bearing permanent or
         temporary flat extras, as described in Paragraphs 3 and 4 of Article
         V, Reinsurance Allowances are payable on the Reinsurance Premium Rates
         provided in Schedule I but are not payable on the additional flat extra
         mortality charge.

ARTICLE VII. INITIAL CEDING ALLOWANCE FOR EACH BLOCK

     *    Material has been omitted pursuant to a request for confidential
          treatment.  Omitted material has been filed separately.

ARTICLE VIII. REIMBURSEMENT FOR TAXES

Reimbursement by Reinsurer. The Reinsurer shall reimburse the Company for any
U.S. Excise Tax the Company is required to pay under the U.S. Internal Revenue
Code for the reason that the Reinsurer fails to make an election or terminates
its election to file U.S. federal income tax returns or otherwise ceases or
fails to file such return. The Reinsurer shall not reimburse the Company for any
other federal or state taxes or state guaranty fund assessments the Company may
be required to pay with respect to the Reinsured Plans. This Paragraph does not
diminish in any way the provisions of Article XVIII.

ARTICLE IX. INITIAL SETTLEMENT AND SUBSEQUENT ACCOUNTING

1.       Initial Settlement of the Closed Block. There shall be an initial
         settlement for the Closed Block on or as of its Initial Settlement
         Date. In the initial settlement, the Reinsurer shall pay the aggregate
         Initial Ceding Allowance for each applicable Block and the parties
         shall settle all other items due to or from each other, with respect to
         the Block, for the period from the first Effective Date of that Block
         through the calendar month-end on or prior to Initial Settlement Date
         (Settlement Period) in the following manner. The Reinsurer shall pay to
         the Company

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         on the Initial Settlement Date (or within five (5) days after the
         Execution Date, if later) an amount equal to:

         a)       the Initial Ceding Allowance due to Company for the Closed
                  Block; less

         b)       the Reinsurance Premiums, net of applicable Reinsurance
                  Allowances, due to the Reinsurer for the Settlement Period;
                  plus

         c)       any reinsurance death claims due and payable to Company under
                  this Agreement for deaths occurring during the Settlement
                  Period; plus

         d)       the amount of Funds Held, if any, to be held by the Company
                  pursuant to Article XII.

2.       Monthly Accounting. Except as provided under Initial Settlement of the
         Closed Block pursuant to Paragraph 1 of this Article, on an ongoing
         basis Reinsurance Premiums and adjustments and other items due to or
         from each party shall be accounted for and settled monthly. In each
         calendar month, the Company shall send to Reinsurer a Monthly Summary
         Report showing totals of Reinsurance Premiums for all outstanding new
         reinsurance which have been ceded and renewal Reinsurance Premiums for
         all renewal reinsurance falling due within the previous month, as
         further described in Article X. The statement shall also include
         Reinsurance Allowances and any adjustments in Reinsurance Premiums due
         in previous months, any reinsurance death claims due, and adjustments
         for any Funds Held pursuant to Article XII (including interest due
         Reinsurer thereon). The Company shall remit to the Reinsurer the
         amount of any net balance due. If the net balance is in favor of the
         Company the Reinsurer shall remit to the Company.

3.       Reinsurance Premiums Past Due. The payment of Reinsurance Premiums by
         the Company is a condition of the liability of

                                  Page 17 of 43


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         the Reinsurer under reinsurance covered by this Agreement. In the event
         of non-payment of Reinsurance Premiums as provided in this Agreement,
         the Reinsurer shall have the right to terminate the reinsurance under
         all policies or riders having Reinsurance Premiums in arrears.
         Reinsurance Premiums shall be considered in arrears if not paid within
         the later of: (i) 30 days after the end of the month for which they are
         due; or (ii) 10 days after the Monthly Accounting is sent by the
         Company to the Reinsurer. For this purpose, where the actual amount of
         Reinsurance Premiums cannot be reasonably determined because of
         administrative or other reasons, Reinsurance Premiums shall not be
         considered in arrears if the Company has made timely payment of a good
         faith estimate of the amount of Reinsurance Premium due. In order for
         Reinsurer to exercise its right to so terminate such reinsurance
         because of Reinsurance Premiums being in arrears, the Reinsurer shall
         first give the Company written notice thereof, and the Company shall
         have the right to cure such non-payment within ten (10) days from its
         receipt of the written notice. If the Company fails to cure such
         non-payment within the ten day period, then the reinsurance under all
         policies or riders having Reinsurance Premiums still in arrears shall
         terminate and the Reinsurer shall have no liability thereafter with
         respect to such policies and riders.

4.       Currency. All amounts due either party under this Agreement shall be
         payable in United States currency.

ARTICLE X.     REPORTING

1.       Reporting by the Company. The Company shall send to the Reinsurer the
         following reports within the time periods as shown in each subparagraph
         below. The Company shall make its best effort to send the reports
         described in Paragraphs (a), (b) and (c) within twenty (20) days after
         the end of each respective reporting period whenever administratively
         practicable.

                                  Page 18 of 43


<PAGE>   19




         a)       Monthly Bordereau Report: within 30 days after the end of each
                  month, a monthly in-force inventory of the amount of the
                  reinsurance in force, new reinsurance and reinsurance changing
                  or terminating (including reported death claims). The
                  information in the report will consist of sufficient detail
                  for each policy and rider to permit the Reinsurer to perform
                  its administrative functions and will be provided in an
                  electronic medium acceptable to both parties.

         b)       Monthly Summary Reports: within 30 days after the end of each
                  month, a copy of a Monthly Summary Report containing monthly
                  totals of: first year and renewal Reinsurance Premiums
                  payable; Reinsurance Allowances due the Company; death claims
                  incurred; any other claim-related amounts due Company under
                  Article XVI; any change in Funds Held which is due to or from
                  the Company (including interest due the Reinsurer on Funds
                  Held); and the net amount due to or from Reinsurer.

         c)       Monthly Exhibit of Reinsurance in Force: within 30 days after
                  the end of each month, a copy of an exhibit summarizing:
                  additions for the month, including counts and amount of new
                  issues, reinstatements and increases in ceded amount;
                  decreases for the month, including counts and amounts of
                  lapses, surrenders, death claims, maturities, and decreases in
                  ceded amount; and the total reinsurance in force as of the end
                  of the month.

         d)       Quarterly Financial Reports: within 30 days after the end of
                  each calendar quarter, a report for Reinsurer's financial
                  reporting purposes, containing additional quarterly and
                  year-to-date financial information, with respect to the
                  reinsurance, to permit the Reinsurer to complete its statutory

                                  Page 19 of 43


<PAGE>   20



                  financial statements and other financial reporting
                  obligations. The information will be provided in an electronic
                  medium acceptable to both parties.

         e)       Annual Statutory Financial Statements: within 90 days after
                  the end of each calendar year, a copy of the statutory
                  financial statements of the Company as filed with the State of
                  Ohio.

2.       Reporting by the Reinsurer. The Reinsurer shall send to the Company
         within ninety (90) days after the end of each respective reporting
         period, financial statements of the Reinsurer as of the end of each
         calendar quarter and calendar year, including balance sheet and income
         statement. The quarterly financial statements shall have been prepared
         in accordance with or based on U.S. generally accepted accounting
         practices applied on a consistent basis in the reasonable opinion of
         the Reinsurer. The annual financial statements of the Reinsurer shall
         have been prepared in accordance with or based on U.S. generally
         accepted accounting practices applied on a consistent basis and shall
         have been audited by an independent public accounting firm.

ARTICLE XI. REDUCTIONS

1.       Reductions. If any of the original policies or riders reinsured under
         this Agreement are reduced or terminated, the Amount Reinsured under
         this Agreement on such a policy or rider will be recalculated in
         accordance with Paragraph 1.d) of Article IV.

ARTICLE XII.  FUNDS HELD, LETTER OF CREDIT.

1.       Security Requirement. In the event Reinsurer is not licensed or
         otherwise accredited or authorized as a reinsurer in the Company's
         domiciliary state and in any other jurisdiction where the Company is
         licensed to do

                                  Page 20 of 43


<PAGE>   21



         business, the Reinsurer shall, at all times while the reinsurance under
         this Agreement is in effect, provide security, as described in this
         Article, for its obligations under this Agreement or as otherwise
         agreed to in writing by the parties. The type, standards, form,
         provisions, conditions, terms, dates and financial institutions
         relating to such security, and the conditions upon which Reinsurer
         shall provide such security, shall at all times comply with the
         insurance laws and regulations of the Company's domiciliary state, as
         may be amended or superceded from time to time, relating to security
         given in connection with allowing the Company, for statutory insurance
         accounting purposes, to recognize admitted assets or reserve credits or
         other credits associated with such reinsurance ceded to an unauthorized
         or unaccredited reinsurer.

2.       Initial Security; Funds Held.  Until such time as the Reinsurer
         provides a Letter of Credit as described in Paragraph 3 of this
         Article, on the Initial Settlement Date of each of the Closed Blocks
         described in Paragraph 1 of Article IX and with each monthly accounting
         described in Paragraph 2 of Article IX, the Company shall withhold or
         receive funds from the Reinsurer ("Funds Held") equal to a certain
         amount as follows. On the Initial Settlement Date, the Company shall
         withhold the required amount of Funds Held from the net amount, if any,
         otherwise due from the Company to the Reinsurer on that date; to the
         extent any net amount otherwise due Reinsurer on that date is
         insufficient to cover the required amount of Funds Held, the Reinsurer
         shall pay the Company in cash the balance of the required amount of
         Funds Held on that date. Likewise, in connection with each monthly
         accounting under Paragraph 2 of Article IX, the Company shall adjust
         the total required amount of Funds Held; if the required amount of
         Funds Held increases, the Company shall withhold or receive cash from
         the Reinsurer equal to the increase in the required amount of Funds
         Held, and, if the required amount of Funds Held decreases, the
         Reinsurer shall

                                  Page 21 of 43


<PAGE>   22



         withhold or receive cash from the Company equal to the decrease in the
         required amount of Funds Held. The required amount of Funds Held for
         the period shall be equal to the reinsurance credits taken or
         reasonably estimated to be taken by the Company in connection with this
         Agreement under Exhibit 8 and under column 3, line 4.c. of Part 1 of
         Exhibit 11 of the Company's statutory financial statements. The Company
         shall adjust the required amount of Funds Held on a monthly basis. The
         Company shall retain the gross investment income derived from the Funds
         Held but shall pay the Reinsurer interest thereon each month at a rate
         equal to the interest rate for (ninety) 90 day Commercial Paper as
         published the first business day of that month in the Wall Street
         Journal or successor publication agreed upon by the parties. The
         Company shall hold the Funds Held in the United States as part of its
         general account assets; and the Company shall have exclusive control
         over the Funds Held and sole right to withdraw or disburse such funds.

3.       Letter of Credit. Instead of providing Funds Held as described in
         Paragraph 2 of this Article, the Reinsurer at its expense may provide
         and maintain a Letter of Credit in favor of the Company in an amount
         which at all times equals or exceeds the required amount of Funds Held
         determined as described in Paragraph 2 of this Article. The form,
         provisions, conditions, terms and dates, as well as the issuing
         financial institution, of or relating to the Letter of Credit, and the
         conditions upon which Reinsurer shall provide such Letter of Credit,
         shall comply with the insurance laws and regulations of the Company's
         domiciliary state, as may be amended or superceded from time to time,
         relating to such Letters of Credit. The issuing institution shall be an
         U.S. bank or trust company or a U.S. branch of a foreign bank appearing
         on the list of approved letter of credit banks published from time to
         time by the Securities Valuation Office of the National Association of
         Insurance Commissioners. The Letter of Credit shall be substantially in
         the form set


                                  Page 22 of 43


<PAGE>   23



         forth in Exhibit B or in such other form as the Ohio Insurance
         Department or other applicable State Insurance Department may require
         or permit. The terms of the Letter of Credit shall provide that: it is
         not conditioned on the delivery of any other documents or materials; it
         is irrevocable without the consent of the Company; it is automatically
         renewable as provided in Exhibit B; and its initial term is for a
         period of not less than one year. Such Letter of Credit may be drawn
         upon at any time, notwithstanding any other provisions in this
         Agreement, but shall be utilized by the Company or its successors only
         for one or more of the following reasons:

         (i)      to fund an account with the Company in an amount at least
                  equal to the deduction, for reinsurance ceded, from the
                  Company's liabilities for Reinsured Plans (such amount shall
                  include, but not be limited to, amounts for policy reserves,
                  claims and losses incurred and unearned premium reserves); and

         (ii)     to pay any other amounts the Company claims are due under this
                  Agreement.

         Such Letter of Credit shall be promptly issued and delivered to the
         Company. But in no event shall the Letter of Credit be issued or
         confirmed later than December 31 in respect of the year for which the
         Company is taking credits for such reinsurance in its statutory
         financial statements, and in no event shall the Letter of Credit be
         delivered to the Company later than thirty days after such December 31.

ARTICLE XIII. REDUCTION OF REINSURANCE BY COMPANY (RECAPTURE)

1.       Recapture. Except as provided in Paragraphs 2 and 3 of this Article,
         the Company may not reduce (recapture) the reinsurance in-force on any
         lives on which reinsurance has been ceded under this Agreement
         (in-force reinsurance).

                                  Page 23 of 43


<PAGE>   24



2.       Events triggering right to recapture. The Company shall have the right
         to recapture a portion or all of the in-force reinsurance on some or 
         all lives

         (i)      on thirty days written notice or later date specified in the
                  notice if:

                  a)       the Reinsurer fails to cure a material default under
                           a loan or note from the Company or its affiliates; or

                  b)       the Reinsurer increases the Reinsurance Premium Rates
                           under this Agreement on in-force business without the
                           Company's written agreement; and

         (ii)     immediately upon written notice, unless a later date is
                  specified in the notice, if:

                  c)       the Company elects to recapture due to the insolvency
                           of the Reinsurer as provided in Paragraph 2 of
                           Article XX;

                  d)       the Reinsurer dissolves, ceases to legally exist, or
                           otherwise ceases to be legally authorized to act as a
                           reinsurer in its domiciliary jurisdiction; or

                  e)       the Reinsurer fails, within thirty (30) days after
                           written notice by Company of a material breach of
                           this Agreement by Reinsurer, to cure such material
                           breach; for this purpose, a material breach may
                           include but is not limited to: failure to pay any
                           agreed Reinsurance Allowances, failure to pay
                           reinsurance claims, or failure to comply with Article
                           XII;

         (iii)    when agreed if:

                  f)       by the mutual written agreement of the parties.



                                  Page 24 of 43


<PAGE>   25



3        Notice and Date of Recapture. The written notice of the Company's
         exercise of right to recapture shall specify the applicable reason set
         forth in Paragraph 2 which is triggering the recapture and the extent
         of the recapture.

4.       Effect of Recapture on Reinsurance. Recapture by the Company under this
         Article shall be prospective from the effective date of recapture and
         shall not diminish the amounts due under this Agreement (or other
         rights or obligations of the parties under this Agreement) outstanding
         prior to the effective date of recapture.

ARTICLE XIV. REINSTATEMENTS

1.       Automatic Reinsurance of Reinstated Policies. Should a reinsured
         policy (including any reinsured rider, if applicable) lapse and
         subsequently be reinstated in accordance with its terms and the normal
         rules of the Company, the reinsurance for such policy shall be
         reinstated automatically. The Company shall pay Reinsurance Premium to
         the Reinsurer for the same period of time cost of insurance charges are
         received by the Company on such a reinstated policy.

ARTICLE XV. POLICY CHANGES

Duty to inform Reinsurer of Policy Changes. Should the Company make any material
changes (including but not limited to a change in Face Amount, Specified Amount,
Company Amount at Risk, or Rating Classification) in the provisions and
conditions of a policy issued to an insured and upon which reinsurance shall
have been granted hereunder, the Company shall reflect such policy changes, as
appropriate, in the monthly reports called for in Paragraph 1 of Article X.

ARTICLE XVI. SETTLEMENT OF CLAIMS

1.       Notice. On a monthly basis, the Company shall account to the Reinsurer
         for death claims due as provided in

                                  Page 25 of 43


<PAGE>   26



         Paragraph 2 of Article IX and shall notify Reinsurer of reported death
         claims as provided in Paragraph 1a) of Article X. Company agrees to
         furnish Reinsurer with copies of the proof of loss or other written
         materials relating to a specific claim upon request of Reinsurer or as
         provided in Paragraph 5 of this Article.

2.       Standard Claim Practices. Company agrees to act in accord with its
         standard practices applicable to all claims in enforcing the terms and
         conditions of the reinsured policies or reinsured riders and with
         respect to the administration, negotiation, payment, denial, or
         settlement of any claim or legal proceeding.

3.       Payment and Settlement of Claim. Reinsurer agrees to accept the good
         faith decision of the Company in payment or settlement of any claim for
         which Reinsurer has received the required notice. Reinsurer agrees to
         pay Company the Amount Reinsured on which Reinsurance Premiums have
         been computed upon receiving proper evidence the Company has paid a
         policy claim. Payment of the Amount Reinsured on account of death shall
         be made in one lump sum. Reinsurer shall also refund to the Company,
         without interest, any Reinsurance Premiums, net of any Reinsurance
         Allowance, which had been paid to Reinsurer for policy months which
         began after the date of death.

4.       Reinsurer's Liability for Covered Claim Expenses.  Except as provided 
         in Paragraph 5 of this Article, Reinsurer's liability shall include
         indemnification of the Claims Ratio of any covered claim expenses
         incurred by Company in defending or investigating a policy claim.
         Covered claim expenses shall include, but not be limited to, cost of
         investigation, legal fees, court costs and interest charges. Covered
         claim expenses shall not include:

         a)       Compensation of salaried officers and employees;

                                  Page 26 of 43


<PAGE>   27



         b)       routine investigative expenses of incontestable claims:

         c)       expenses incurred by the Company in connection with an
                  interpleader proceeding or other dispute or contest arising
                  out of conflicting claims of entitlement to proceeds or
                  benefits under a Reinsured Plan; and

         d)       any possible extra-contractual damages shall not be considered
                  covered claim expenses.

5.       Contested, Litigated or Compromised Claims. The Company shall promptly
         notify Reinsurer of its intention to contest, compromise or litigate
         any claim on a Reinsured Plan or its intention to investigate or defend
         any litigation initiated against the Company in response to the
         Company's denial of a claim on a Reinsured Plan. With or immediately
         following such notice, the Company shall furnish Reinsurer with copies
         of written materials relating to such claim. Reinsurer shall promptly
         notify Company of its decision whether or not to accept any such
         action. If Reinsurer declines to accept any such action, it will pay
         the full Amount Reinsured, as if there had been no such contest,
         compromise or litigation, and will be fully discharged as of the date
         of such payment from any further liability on that claim under
         Paragraph 4 of this Article. If the Reinsurer accepts such action,
         then: (i) Reinsurer shall continue to share in the covered claim
         expenses as described in Paragraph 4; (ii) the Company shall keep the
         Reinsurer informed of the status of any legal proceeding or settlement
         negotiations in connection with such claim; and (iii) if the contest or
         compromise reduces the amount of the Company's liability, the
         Reinsurer's liability shall be reduced to its Claims Ratio of the
         reduced amount.

6.       Recovery from Third Party. The Company shall promptly notify Reinsurer
         if the Company should assert or bring a

                                  Page 27 of 43


<PAGE>   28


         claim or action against a third party for contribution, indemnification
         or similar grounds to recover from the third party any monies paid or
         expenses incurred by the Company in connection with a policy claim
         reinsured under this Agreement. Upon request, the Company shall furnish
         Reinsurer with copies of written materials relating to such third party
         claim or action. Reinsurer shall promptly notify Company of its
         decision whether or not to share in the expenses and potential recovery
         of any such proceeding. If Reinsurer declines to so accept any such
         proceeding, Reinsurer shall not participate in any costs of such
         proceeding and shall not share in any monies so recovered by the
         Company. If the Reinsurer accepts such action, then: (i) Reinsurer
         shall continue to share in the expenses of that proceeding as described
         in Paragraph 4 as though they were covered claim expenses; and (ii) the
         Company shall keep the Reinsurer informed of the status of such
         proceeding or settlement negotiations in connection with such
         proceeding. In that event, the parties agree that any monies so
         recovered by the Company: (i) shall be applied first to reduce the
         costs incurred by the Company in prosecuting such third party claim or
         action and to that extent shall be shared with the Reinsurer in
         accordance with its Claims Ratio; (ii) shall then be applied to any
         punitive, exemplary, compensatory or other extra-contractual or
         non-contractual damages or settlement paid or ordered or agreed to be
         paid by the Company in excess of the limits of the policy, and shall
         not be shared with the Reinsurer; (iii) shall then be applied to reduce
         the covered claim expenses of the original claim and to that extent
         shall be shared with the Reinsurer in accordance with its Claims Ratio;
         and (iv) to the extent there is any remaining recovery, shall then be
         applied to reduce the Company's liability under the policy and shall be
         shared with Reinsurer in accordance with the Reinsurer's Claims Ratio.
         For purposes of the preceding sentence, the numerator of the Claims
         Ratio shall be recalculated by deducting Reinsurer's share of any
         recovery under (iv) of the preceding sentence, and the

                                  Page 28 of 43


<PAGE>   29



         denominator of the Claims Ratio shall be recalculated by deducting the
         total amount of any recovery under (iv) of the preceding sentence. The
         parties understand and agree that this Paragraph shall not apply to and
         the Reinsurer shall not share in: (i) commission chargebacks or
         adjustments made by the Company in accordance with its contract with
         the Producer or an agent; (ii) any first-party claim brought by the
         Company under any liability, fidelity or indemnity coverages carried by
         the Company or its affiliates; and (iii) any reinsurance claims paid to
         the Company by an Outside Reinsurer.

7.       Adjustments for Misstatements. If the amount claimed as death benefit
         under a reinsured policy or reinsured rider is increased or reduced
         because of a misstatement of age, sex or smoker status, the Company
         Amount at Risk will be calculated based on the adjusted amount of death
         benefit and the Amount Reinsured will, if applicable, be increased or
         decreased proportionately.

8.       Interest. If the Company pays interest on a claim, Reinsurer agrees to
         pay the interest on the Amount Reinsured computed at the same rate and
         for the same period as that paid by the Company, but in no event later
         than the date the claim is finally adjudicated by the Company.

9.       Penalties.

         a)       Statutory Penalties. If the Company is required to pay
                  penalties or interest imposed automatically by statute, other
                  than penalties or interest arising from Company's negligent or
                  intentional violation of such a statute, Reinsurer shall
                  indemnify the Company for the Claims Ratio of such penalties
                  and interest.

         b)       Extra-Contractual Damages. Except as provided in Paragraph 5
                  of this Article, Reinsurer shall not be liable for any
                  punitive, exemplary or other extra-

                                  Page 29 of 43


<PAGE>   30



                  contractual damages awarded by a court against the Company
                  with respect to a policy or rider reinsured under this
                  Agreement, and the Reinsurer's liability therefor under this
                  Agreement shall be limited to the Reinsured Amount plus its
                  Claims Ratio of covered claims expenses and of statutory
                  penalties.

10.      Accelerated Death Benefits. The Reinsurer shall participate in any
         claim for any Accelerated Death Benefit in connection with the
         Reinsured Plans. A claim for accelerated death benefits shall be
         treated under this Agreement as though it were a death claim and as
         though the death occurred on the date the claim was made. If the
         claimant elects to take less than 100% of the benefit under the
         Accelerated Death Benefit and the reinsured policy thereby remains in
         force, then: the Reinsurer shall pay the Company for the Accelerated
         Death Benefit an amount equal to the accelerated percentage elected by
         the claimant multiplied by the present value, calculated in accordance
         with the rider form, of the Amount Reinsured; and the reduced Amount
         Reinsured for the policy shall be equal to the original Amount
         Reinsured reduced by the same percentage used to calculate the
         Accelerated Death Benefit paid.

ARTICLE XVII.  RECORDS

Each party, its auditors and any regulators having authority over that party
shall have the right, at all reasonable times, and at their expense, to inspect
at the office of the other party all books, records, procedures and documents of
the other party relating to this reinsurance. A party or its auditor conducting
such inspection shall give the other party one week advance notice. The Company,
its auditors and regulators shall have the same right to inspect, verify and
value any assets held in a trust account or otherwise held for the benefit of
the Company under Article XII. The party being audited or inspected agrees to
cooperate in the audit, including providing any information requested by the
other party or its auditor in

                                  Page 30 of 43


<PAGE>   31



advance of the audit or inspection. Upon request, the Company agrees to furnish
the Reinsurer with copies of any underwriting information in the Company's files
pertaining to a reinsured policy or reinsured rider.

ARTICLE XVIII.  DAC TAX (Section 1.848-2(g)(8) Election)

1.       Rights and Duties of Each Party. The Company and the Reinsurer hereby
         agree to the following, pursuant to Section 1.848-2(g)(8) of the Income
         Tax Regulations issued December 1992, under Section 848 of the Internal
         Revenue Code of 1986, as amended. This election shall be effective for
         all years for which this Agreement remains in effect.

         a)       The terms used in this Article are defined by reference to
                  Regulation Section 1.848-2 in effect December 1992.

         b)       The party with the net positive consideration for this
                  Agreement for each taxable year will capitalize specified
                  policy acquisition expenses with respect to this Agreement
                  without regard to the general deductions limitation of Section
                  848(c)(1).

         c)       Both parties agree to exchange information pertaining to the
                  amount of net consideration under this Agreement each year to
                  ensure consistency or as otherwise required by the Internal
                  Revenue Service.

         d)       The Company will submit a schedule to the Reinsurer by May 1
                  of each year of its calculation of the net consideration for
                  the preceding calendar year. This schedule of calculations
                  will be accompanied by a statement signed by an officer of the
                  Company stating that the Company will report such net
                  consideration in its tax return for the preceding calendar
                  year.

         e)       The Reinsurer may contest such calculation by providing an
                  alternative calculation to the Company in writing within 30
                  days of the Reinsurer's receipt of the Company's calculation.
                  If the Reinsurer does not so notify the Company, the Reinsurer
                  will report

                                  Page 31 of 43


<PAGE>   32



                  the net consideration as determined by the Company in the
                  Reinsurer's tax return for the previous calendar year.

         f)       If the Reinsurer contests the Company's calculation of the net
                  consideration, the parties will act in good faith to reach an
                  agreement as to the correct amount within thirty (30) days of
                  the date the Reinsurer submits its alternative calculation. 
                  If the Company and the Reinsurer reach agreement on an amount 
                  of net consideration, each party shall report such amount in 
                  their respective tax returns for the previous calendar year.

ARTICLE XIX. OVERSIGHTS - CLERICAL ERRORS

Effect. Should the Company fail to cede reinsurance that otherwise would have
been ceded in accordance with the provisions of this Agreement, or should either
party fail to comply with any of the other terms of this Agreement, and if this
is shown to be unintentional or the result of a misunderstanding, oversight, or
clerical error on the part of either party, then this Agreement shall not be
deemed abrogated thereby, but the parties shall be restored to the position they
would have occupied had no such oversight or misunderstanding or clerical error
occurred.

ARTICLE XX.  INSOLVENCY

1.       Insolvency of the Company.

         a)       Written Notice of Insolvency. The Company shall immediately
                  give Reinsurer written notice of an event constituting
                  Insolvency of the Company. However, whether such notice is
                  timely given or not, in the event of the Insolvency of the
                  Company, all amounts relating to reinsurance made, ceded,
                  renewed or otherwise becoming effective under this Agreement
                  shall be payable by the Reinsurer directly to the Company or
                  to its liquidator, receiver or statutory

                                  Page 32 of 43


<PAGE>   33



                  successor on the basis of the liability of the Company under
                  the Reinsured Plan without diminution because of the
                  insolvency of the Company or because the Company or Company's
                  legal representative has failed to pay all or a portion of
                  amounts owed to Reinsurer under this Agreement. It is
                  understood, however, that in the event of the Insolvency of
                  the Company, the liquidator or receiver or statutory successor
                  of the insolvent Company shall give written notice to the
                  Reinsurer of the pendency of a claim against the insolvent
                  Company on the policy reinsured within a reasonable time after
                  such claim is filed in the Insolvency proceeding and that
                  during the pendency of such claim that the Reinsurer may
                  investigate such claim and interpose in the name of the
                  Company (or its liquidator, receiver or statutory successor),
                  at the Reinsurer's own expense, in the proceeding where such
                  claims is to be adjudicated any defense or defenses which it
                  may deem available to the Company or its liquidator or
                  receiver or statutory successor.

         b)       Expenses Incurred. It is further understood that the expenses
                  thus incurred by the Reinsurer shall be chargeable, subject to
                  court approval, against the insolvent Company as part of the
                  expense of liquidation to the extent of a proportionate share
                  of the benefit which may accrue to the Company solely as a
                  result of the defense undertaken by the Reinsurer. When two or
                  more reinsurers are participating in the same claim and a
                  majority in interest elect to interpose a defense or defenses
                  to such claim, the expense shall be apportioned in accordance
                  with the terms of this Agreement as though such expense had
                  been incurred by the Company.

2.       Insolvency of the Reinsurer. The Reinsurer shall immediately give
         Company written notice of an event constituting Insolvency of the
         Reinsurer. Upon the

                                  Page 33 of 43


<PAGE>   34



         Insolvency of the Reinsurer, whether notice thereof was given by the
         Reinsurer or not, the Company has the right to immediately, by written
         notice, terminate this Agreement and recapture all reinsurance under
         this Agreement. Notwithstanding such termination or recapture,
         Reinsurer or its legal representative shall continue to be liable to
         the Company for any obligations of the Reinsurer under this Agreement
         still outstanding after giving effect to such recapture.

ARTICLE XXI. ARBITRATION

1.       Conditions. Any controversy or claim between the Company and the
         Reinsurer, arising out of or relating to this Agreement or the breach
         thereof or the coverage of this arbitration provision, shall be settled
         by arbitration.

2.       Appointment of Arbitrators. There shall be three arbitrators who shall
         be current or former officers of life insurance companies or life
         reinsurers. However, unless otherwise consented to in writing by the
         parties, such person shall not be a current or former employee of, or
         current or former consultant to, the parties or any affiliate or
         reinsurer of the parties; nor shall he or she have any current
         employment or affiliation with, consulting or contractual engagement
         with, or financial interest in: a party to this Agreement or persons or
         companies affiliated or associated with a party to this Agreement,
         including, with respect to the Reinsurer, the Producer or any persons
         or companies associated with the Producer. The Company shall appoint
         one of the arbitrators and the Reinsurer shall appoint a second
         arbitrator and these two arbitrators shall select the third. If either
         party shall fail to appoint an arbitrator within thirty days after the
         other party has given notice of its appointment of an arbitrator, the
         appointment of the arbitrator for the party which has so failed to
         appoint an arbitrator shall be left to the other party. Should the two
         arbitrators appointed by or for the

                                  Page 34 of 43


<PAGE>   35




         parties fail to agree on the choice of the third, within sixty (60)
         days of their appointment then each of them shall name three (3)
         individuals, of whom the other shall decline two (2), and the decision
         shall be made by drawing lots.

3.       Commercial Arbitration Rules. Arbitration shall be conducted in
         accordance with the Commercial Arbitration Rules of the American
         Arbitration Association which shall be in effect on the date of
         delivery of demand for arbitration; except, however, that arbitrators
         shall be appointed in accordance with the provisions of Paragraph 2, of
         this Article and that, to the extent any other terms or provisions of
         this Article are inconsistent with or in conflict with the Commercial
         Arbitration Rules, this Article shall control.

4.       Place. The arbitration shall be conducted in a location to be 
         determined by a majority of the Arbitrators.

5.       Expenses. Each company shall pay that part of the expense of
         arbitration which shall be apportioned to it by the arbitrators.

6.       Award. The award rendered by the arbitrators shall be final, and
         judgment may be entered upon it in any court having jurisdiction
         thereof.

7.       Basis for Decision. The arbitrators shall base their decision on the
         terms and conditions of this Agreement and, as necessary, on the
         customs and practices of the life reinsurance and life insurance
         industries rather than on a strict interpretation of applicable law.

ARTICLE XXII. PARTIES TO AGREEMENT

This is an Agreement solely between the Company and the Reinsurer. The
acceptance of reinsurance hereunder shall not create any right or legal relation
whatever between the


                                Page 35 of 43


<PAGE>   36



Reinsurer and the original insured, beneficiary or other party to or under any
policies or riders of the Company which may be reinsured hereunder.

ARTICLE XXIII. DURATION OF REINSURANCE AND TERM OF AGREEMENT

1.       Duration of Reinsurance. Except as provided in Article XIII and in
         Paragraph 2 of Article XX, in-force reinsurance which has been ceded
         under this Agreement shall be unlimited as to its duration and shall be
         maintained in force for so long as such policies shall remain in force
         and the reinsurance premiums are paid when due.

2.       Term of Agreement. The initial term of this Agreement shall be five (5)
         years. During and after the initial term, this Agreement may be
         canceled as it pertains to the reinsurance of new business thereafter:

         (i)      immediately upon written notice by a party if the other party
                  becomes insolvent, dissolves, ceases to legally exist, or
                  otherwise ceases to be legally authorized to act as a
                  reinsurer or insurer, respectively, in its domiciliary
                  jurisdiction;

         (ii)     upon thirty (30) days written notice by a party if the other
                  party has materially breached this Agreement and has failed to
                  cure such breach within such 30 days;

         (iii)    upon thirty (30) days written notice by the Reinsurer, if the
                  Company has made a material change in its underwriting
                  practices which the Reinsurer has not consented to in advance
                  and which has an adverse and material financial impact on the
                  Reinsurer;

         (iv)     upon thirty (30) days written notice by the Company, if the
                  Reinsurer increases the Reinsurance Premium

                                  Page 36 of 43


<PAGE>   37



                  Rates under this Agreement on new business without the
                  Company's written agreement;

         (v)      upon one (1) year written notice by the Company, if the total
                  Amount of Reinsurance ceded on base policies sold in any
                  twelve (12) month period is less than 80% of the Amount of
                  Reinsurance ceded on base policies sold in the preceding
                  twelve (12) month period; or

         (vi)     when and as agreed upon by the parties in writing.

         After the initial term of this Agreement, this Agreement may also be
         canceled by either party, as it pertains to the reinsurance of new
         business thereafter, by giving one (1) year advance notice of
         cancellation in writing. In such case, the Company shall continue to
         cede, and the Reinsurer shall continue to accept reinsurance, under
         this Agreement on policies and riders issued during the one (1) year
         period, and the interest of the Reinsurer in new business shall cease
         at the end of the one (1) year period.

ARTICLE XXIV. WRITTEN NOTICE

Any notice given in connection with this Agreement shall be deemed to be
provided when it is sent by facsimile to the numbers shown below, or by first
class mail or by courier to the addresses set forth below, or to the last
address or facsimile number of record such party designates in writing:

                    If to Company:          Western Reserve Life Assurance Co.
                                            of Ohio 
                                            201 Highland Ave.
                                            Largo, FL 34640
                                            Facsimile:  (813) 587-1834
                                            Attn: President

                    With a copy to:         Western Reserve Life Assurance Co.
                                            of Ohio
                                            201 Highland Ave.
                                            Largo, FL 34640
                                            Facsimile:(813) 587-1826
                                            Attn: General Counsel



                                  Page 37 of 43


<PAGE>   38




                    If to Reinsurer:         WMA Life Insurance Company Limited
                                             Third Floor 44 Church Street
                                             Hamilton HM 12, Bermuda
                                             Attn: Manager
                                             Facsimile: (441) 296-1058

                    With a copy to:          James F. Tenney, Esq.
                                             Merritt & Tenney
                                             200 Galleria Parkway
                                             Suite 500
                                             Atlanta, GA 30067
                                             Facsimile: (770) 952-0028

                    With a copy to:          WMA International
                                             5555 Triangle Parkway, NW
                                             Norcross, GA 30092
                                             Attn: Executive Vice President
                                                   and Secretary
                                             Facsimile: (770) 242-0896

ARTICLE XXV. OFFSET.

Any debts or credits, matured or unmatured, liquidated or unliquidated,
regardless of when they arose or were incurred, in favor of or against either
Company or Reinsurer with respect to this Agreement or any other reinsurance
agreement between the parties, shall be offset and only the balance allowed or
paid. If either Company or Reinsurer is then under formal insolvency
proceedings, this right of offset shall be subject to the laws of the state
exercising primary jurisdiction over such proceedings.

ARTICLE XXVI. ASSIGNMENT OF REINSURANCE

If the Company sells, assumption reinsures or otherwise transfers the Reinsured
Plans to another insurer, the Company agrees to require that the other insurer
assume all rights and obligations of the Company under this Agreement. Reinsurer
may object to any such transfer that would result in a material adverse economic
impact to Reinsurer. If Reinsurer so objects, Company and Reinsurer agree to
mutually calculate a termination

                                  Page 38 of 43


<PAGE>   39



charge which shall be paid by Company to Reinsurer upon the transfer and this
Agreement shall be terminated with respect to all Reinsured Plans transferred by
Company.

ARTICLE XXVII. ENTIRE AGREEMENT

This Agreement represents the entire agreement between the parties regarding the
subject matter of this Agreement and supersedes any prior oral or written
agreements between the parties regarding that subject matter. No modification of
this Agreement shall be effective unless set forth in a written amendment
executed by both parties. A waiver of a right created by this Agreement shall
constitute a waiver only with respect to the particular circumstance for which
it is given and not a waiver in any future circumstance.

As of the Execution Date, this Agreement consists of this Agreement and its
Exhibits A and B and its Schedule I.

ARTICLE XXVIII. COMPANY'S PRACTICES, FORMS.

1.       Underwriting and Administrative Practices. As a general business
         practice, the Company shall follow its current normal underwriting
         practices in issuing and administering Reinsured Plans, which have been
         disclosed to the Reinsurer prior to the Execution Date.

2.       Compliance with Laws and Charter. The Reinsured Plans shall be issued
         and delivered by the Company in compliance with the laws of all
         applicable jurisdictions and with the Company's Articles of
         Incorporation.

3.       Forms and Manuals. The Company agrees, to the extent requested in
         writing by the Reinsurer, to file with the Reinsurer copies of all
         appropriate policy and rider forms, rate manuals, retention schedules,
         application forms, conditional receipts, temporary insurance
         agreements, binders, underwriting questionnaires, and authorization
         forms for release of medical information.

                                  Page 39 of 43


<PAGE>   40



4.       Notice of Changes. Should the Company make any change in its
         underwriting rules, general underwriting practices or claims practices
         which materially affects the risk borne by the Company and the
         Reinsurer regarding Reinsured Plans, the Company shall promptly provide
         written notice to the Reinsurer of such change. Should the Company make
         a material change in any form or manual provided to Reinsurer pursuant
         to Paragraph 3 above, the Company shall promptly provide Reinsurer with
         a copy of the change or of the revised form or manual.

ARTICLE XXIX.  HEADINGS.

The headings of the Articles, Paragraphs and any subparagraphs of this Agreement
are inserted for convenience of reference only and shall not constitute a part
of this Agreement.

ARTICLE XXX. EXECUTION OF AGREEMENT

         IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed in duplicate by their duly authorized representatives in Largo FL this
9th day of July, 1996.


                      WMA LIFE INSURANCE COMPANY LIMITED

By: /s/ S. Hubert Humphrey                  Title: President
   ---------------------------------               ----------------------------
         Authorized Officer

Attest:

By: /s/ T. Wood Montgomery                  Title: Vice President
   ---------------------------------               -----------------------------
         Authorized Officer


                   WESTERN RESERVE LIFE ASSURANCE CO. OF OHIO

By: /s/ Allen Yaeger                        Title: Executive V.P., Actuary & CFO
   ---------------------------------               -----------------------------
         Authorized Officer

Attest:

By: /s/ Charles E. Boswell                  Title: Vice President
   ---------------------------------               -----------------------------
         Authorized Officer















                                  Page 40 of 43


<PAGE>   41
                                   EXHIBIT A
                              REINSURANCE SCHEDULE

Amount of Reinsurance per life: 50% of the first $60,000, as described in Par
1. of Art. IV

Policies/Plans/Riders to be Reinsured: All of the following policies (including
applicable riders), if sold by and through agents of Producer registered with
WMA Securities, Inc., shall be eligible to be reinsured under this Agreement.
Subject to that condition, and subject to Par. 5 of Art. I, the following forms
(including State variations thereof) having the following Policy Dates shall be
reinsured:

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------
                              POLICY NAME OR
    REINSURED                  DESCRIPTION               REINSURED                WRL PLAN CODE
     BLOCKS                    AND FORM NO.                PLANS                    CO. CODE                 WRL YRT CODE
----------------------------------------------------------------------------------------------------------------------------
<S>                        <C>                        <C>                        <C>                        <C>
Block 1: Policies          WRL Freedom Equity         Base Policy Only:             (Co. 15)
with Policy                Protector variable                                                                                 
Dates 6/30/96              universal life (FEP)*,      -Standard FEP             -F67001/F67002             -565506/565507    
and prior                  Policy Form No.             -LIPP FEP                 -F67501/F67509             -567503/567502
                           VLB.01.07.89                -Group or
                                                         Sponsored FEP           -F67601/F67602             -565506/565507
                                                       -Prot. Plus FEP           -F67801/F67802             -567503/567502
----------------------------------------------------------------------------------------------------------------------------
Block 2: Policies          FEP* Policy Form No.       Base Policy:                   (Co. 15)
with Policy                VLB.01.0789, including
Dates on or                Primary Insured Rider       -Standard FEP             -F67001/F67002             -565506/565507    
after 7/1/96 up            (PIR) and PIR Plus,         -Group or
to start date of           Form No.                      Sponsored FEP           -F67601/F67602             -565506/565507
Block 3                    ULR1.01.05.84, and          -Prot. Plus FEP           -F67801/F67802             -567503/567502
                           Other Insured Rider
                           (OIR), Form No.            and, if applicable:
                           ULR2.01.5.84.
                                                       -PIR                                                 -560129/560612

                                                       -PIR PLUS                                            -560610/560611

                                                       -OIR                                                 -560128/560613
----------------------------------------------------------------------------------------------------------------------------
Block 3: Start             Successor to FEP*, PIR,    Base Policy and, if        To be determined           To be determined  
date of Policies            PIR PLUS and OIR          applicable: PIR,                                                        
to be                                                 PIR PLUS, and                                                           
determined                                            OIR
----------------------------------------------------------------------------------------------------------------------------


<CAPTION>                  
--------------------------------------------------------------------------------
                              EFFECTIVE DATE                                      
    REINSURED                   FOR EACH                 REINSURANCE PREMIUM      
     BLOCKS                   POLICY/RIDER               RATES DUE REINSURER      
--------------------------------------------------------------------------------
<S>                        <C>                        <C>
Block 1: Policies          The first Policy           From Effective Date, at       
with Policy                Monthiversary on or        Point in Scale Rates, per       
Dates 6/30/96              after 6/1/96               Schedule I                      
and prior                                                                            



--------------------------------------------------------------------------------
Block 2: Policies          Policy/Rider Date          From the Policy/Rider   
with Policy                                           Date, at Point in Scale 
Dates on or                                           Rates, per Schedule I   
after 7/1/96 up                                                               
to start date of                                                              
Block 3                                                                       








--------------------------------------------------------------------------------
Block 3: Start             Policy/Rider Date          From the Policy/Rider           
date of Policies                                      Date, at Point in Scale         
to be                                                 Rates, per Schedule I           
determined                                                                            
--------------------------------------------------------------------------------
</TABLE>


*Including any benefits payable under the Terminal Illness Accelerated Death
Benefit Rider form ACCDB-10/94.



                                  Page 41 of 43



<PAGE>   42


                              EXHIBIT A (CONT'D.)


Reinsurance Allowances:
-----------------------

     Reinsurer shall pay Company, or Company shall offset against reinsurance
     premiums due, the following allowances, stated as a percentage of the
     applicable reinsurance premium:

<TABLE>
<CAPTION>
                                                             BLOCKS 1 AND 2          BLOCK 3
                <S>                                          <C>                     <C>
                First Policy Year:

                Renewal Policy Years - Ultimate Classes:             *                  *

                Renewal Policy Years - Non-Ultimate Classes:
</TABLE>

           *    Material has been omitted pursuant to a request for confidential
                treatment.  Omitted material has been filed separately.


Initial Ceding Allowance:     
-------------------------


            *   Material has been omitted pursuant to a request for confidential
                treatment.  Omitted material has been filed separately.
 

Current Retention Schedule of Western Reserve Life:
---------------------------------------------------

<TABLE>
<CAPTION>
                                                         Standard Thru
                   Status          Age At Issue             Table 4*          Table 5-16**
                   ------          ------------          -------------        ------------
                <S>                <C>                   <C>                  <C>

                All business       All issue ages          $500,000             $250,000 
</TABLE>

The above limits apply to the combination of the life plus ADB.

     *    Or Flat Extra ratings of up to and including $5.00 per thousand
          annually

     **   Or Flat Extra ratings greater than $5.00 per thousand annually or on
          any combination of Flat Extra and Substandard ratings

                                 Page 42 of 43
<PAGE>   43


                                   EXHIBIT B

                            FORM OF LETTER OF CREDIT
                            ------------------------



Effective Date



Western Reserve Life Assurance Co. of Ohio
201 Highland Avenue
Largo, FL  34640

Dear Sirs:

     By order of WMA Life Insurance Company Limited we are instructed to open a
clean irrevocable Letter of Credit in your favor for U.S. ____________(Amount).

     We undertake that drawings under this Letter of Credit will be honored
upon presentation of your draft drawn on _________________(Issuer) at
____________(Address) prior to expiration date.

     This Letter of Credit expires on _____________, but will automatically
extend for an additional two years if you have not received by registered mail,
notification of intention not to renew 30 days prior to the original expiry
date of each subsequent expiry date.


                                 Page 43 Of 43
<PAGE>   44



                      SCHEDULE I TO REINSURANCE AGREEMENT

                     SCHEDULE OF REINSURANCE PREMIUM RATES

     This Schedule is dated June 1, 1996 and sets forth the Reinsurance Premium
Rates per $1,000 of Amount Reinsured.  The monthly Reinsurance Premium shall be
paid at 1/12th the annual rate.

     The rates in this Schedule are subject to the Company's table rating
percentages, if applicable, as described in Paragraph 2 of Article V.  The
Company's current table percentages are:


<TABLE>
<CAPTION>
              Risk Table                        Percentage
              ----------                        ----------
              <S>                               <C>
                  2                                150%
                  3                                175%
              -each table thereafter-           -an additional 25%
</TABLE>




                            Schedule 1 - Page 1 of 5
<PAGE>   45



YRT Premium Rates - Male Nonsmoker


<TABLE>
<CAPTION>
                                                                                                                           Attained
         1     2      3      4      5     6      7       8      9     10       11      12     13    14    15   Ultimate       Age
------------------------------------------------------------------------------------------------------------------------------------
  <S>    <C>   <C>    <C>    <C>    <C>   <C>    <C>     <C>    <C>   <C>      <C>    <C>     <C>   <C>  <C>  <C>          <C>
  0                                                                                                                            15
  1                                                                                                                            16
  2                                                                                                                            17
  3                                                                                                                            18
  4                                                                                                                            19
      --------------------------------------------------------------------------------------------------------------------
  5                                                                                                                            20
  6                                                                                                                            21
  7                                                                                                                            22
  8                                                                                                                            23
  9                                                                                                                            24
      --------------------------------------------------------------------------------------------------------------------
  10                                                                                                                           25
  11                                                                                                                           26
  12                                                                                                                           27
  13                                                                                                                           28
  14                                                                                                                           29
      --------------------------------------------------------------------------------------------------------------------
  15  0.97   1.21   1.33   1.35   1.35   1.34   1.34   1.33   1.31   1.30     1.28   1.30   1.28   1.29   1.31        1.54     30
  16  1.20   1.26   1.34   1.36   1.34   1.34   1.34   1.32   1.30   1.28     1.26   1.27   1.26   1.29   1.30        1.48     31
  17  1.24   1.27   1.35   1.35   1.34   1.34   1.33   1.30   1.27   1.25     1.23   1.25   1.25   1.27   1.26        1.44     32
  18  1.24   1.28   1.33   1.34   1.33   1.31   1.30   1.27   1.24   1.22     1.21   1.24   1.24   1.24   1.23        1.41     33
  19  1.25   1.26   1.32   1.32   1.30   1.28   1.26   1.23   1.21   1.20     1.20   1.22   1.20   1.20   1.21        1.39     34
      --------------------------------------------------------------------------------------------------------------------
  20  1.22   1.25   1.29   1.28   1.26   1.24   1.21   1.19   1.18   1.18     1.18   1.18   1.17   1.19   1.21        1.38     35
  21  1.21   1.22   1.25   1.24   1.21   1.18   1.16   1.15   1.15   1.16     1.14   1.14   1.15   1.18   1.20        1.41     36
  22  1.18   1.18   1.20   1.18   1.15   1.13   1.12   1.12   1.13   1.12     1.11   1.12   1.14   1.17   1.24        1.46     37
  23  1.13   1.13   1.14   1.11   1.09   1.08   1.08   1.09   1.08   1.08     1.09   1.11   1.13   1.21   1.29        1.52     38
  24  1.08   1.07   1.07   1.05   1.04   1.04   1.05   1.04   1.04   1.06     1.08   1.10   1.16   1.25   1.34        1.59     39
      --------------------------------------------------------------------------------------------------------------------
  25  1.02   1.01   1.00   0.99   0.99   0.99   0.99   0.99   1.02   1.04     1.07   1.13   1.20   1.30   1.41        1.67     40
  26  1.00   0.99   1.00   1.00   1.00   0.99   0.99   1.00   1.03   1.06     1.11   1.18   1.26   1.37   1.49        1.79     41
  27  0.97   0.98   1.00   1.01   1.00   0.99   1.00   1.01   1.04   1.10     1.16   1.24   1.33   1.45   1.59        1.92     42
  28  0.95   0.97   1.00   0.99   0.99   0.99   1.01   1.03   1.09   1.15     1.23   1.30   1.41   1.55   1.72        2.08     43
  29  0.93   0.96   0.98   0.99   1.00   1.00   1.02   1.07   1.14   1.21     1.30   1.39   1.51   1.68   1.87        2.27     44
      --------------------------------------------------------------------------------------------------------------------
  30  0.91   0.93   0.97   0.99   1.01   1.02   1.07   1.13   1.21   1.29     1.38   1.49   1.64   1.83   2.05        2.49     45
  31  0.88   0.90   0.97   0.99   1.02   1.06   1.12   1.20   1.28   1.37     1.49   1.62   1.79   2.01   2.25        2.73     46
  32  0.85   0.89   0.97   1.00   1.06   1.12   1.19   1.27   1.37   1.48     1.63   1.78   1.97   2.21   2.48        3.01     47
  33  0.83   0.88   0.97   1.04   1.12   1.18   1.27   1.36   1.49   1.62     1.79   1.96   2.17   2.44   2.74        3.30     48
  34  0.82   0.88   1.01   1.09   1.18   1.25   1.36   1.48   1.63   1.78     1.98   2.17   2.41   2.71   3.02        3.63     49
      --------------------------------------------------------------------------------------------------------------------
  35  0.81   0.89   1.05   1.15   1.25   1.34   1.47   1.62   1.80   1.97     2.19   2.41   2.67   2.99   3.33        3.96     50
  36  0.82   0.92   1.09   1.20   1.32   1.43   1.58   1.74   1.94   2.13     2.38   2.63   2.91   3.26   3.61        4.43     51
  37  0.84   0.96   1.14   1.27   1.41   1.54   1.70   1.88   2.09   2.31     2.59   2.85   3.17   3.53   4.01        4.97     52
  38  0.87   1.00   1.20   1.36   1.51   1.66   1.84   2.04   2.27   2.51     2.80   3.09   3.43   3.92   4.45        5.56     53
  39  0.90   1.06   1.28   1.46   1.64   1.81   2.00   2.22   2.46   2.71     3.03   3.34   3.81   4.35   4.94        6.21     54
      --------------------------------------------------------------------------------------------------------------------
  40  0.93   1.13   1.38   1.58   1.79   1.98   2.19   2.42   2.67   2.93     3.27   3.69   4.23   4.83   5.48        6.94     55
  41  0.98   1.21   1.50   1.73   1.96   2.18   2.40   2.62   2.89   3.16     3.60   4.09   4.69   5.36   6.07        7.72     56
  42  1.04   1.31   1.63   1.90   2.15   2.40   2.62   2.85   3.11   3.48     3.97   4.52   5.19   5.93   6.69        8.59     57
  43  1.11   1.42   1.79   2.09   2.37   2.64   2.86   3.08   3.43   3.84     4.38   4.99   5.75   6.55   7.38        9.58     58
  44  1.19   1.56   1.97   2.31   2.61   2.90   3.11   3.41   3.78   4.22     4.82   5.51   6.34   7.22   8.16       10.70     59
      --------------------------------------------------------------------------------------------------------------------
  45  1.29   1.71   2.18   2.54   2.87   3.17   3.46   3.78   4.17   4.65     5.30   6.06   7.00   7.99   9.03       11.97     60
  46  1.38   1.85   2.34   2.74   3.08   3.49   3.84   4.22   4.67   5.23     5.99   6.83   7.90   9.04  10.25       13.25     61
  47  1.49   1.99   2.51   2.93   3.39   3.86   4.26   4.70   5.23   5.86     6.77   7.73   8.94  10.24  11.51       14.65     62
  48  1.61   2.14   2.68   3.21   3.73   4.25   4.73   5.24   5.83   6.57     7.66   8.75  10.13  11.49  12.92       16.15     63
  49  1.73   2.29   2.93   3.53   4.10   4.68   5.24   5.82   6.51   7.38     8.69   9.93  11.36  12.87  14.45       17.80     64
      --------------------------------------------------------------------------------------------------------------------
  50  1.86   2.50   3.20   3.86   4.51   5.15   5.78   6.46   7.28   8.31     9.86  11.15  12.73  14.39  16.16       19.61     65
  51  2.04   2.75   3.49   4.22   4.95   5.64   6.38   7.19   8.15   9.37    11.09  12.51  14.22  16.07  18.06       21.63     66
  52  2.25   3.01   3.81   4.62   5.40   6.18   7.05   8.01   9.15  10.46    12.45  13.99  15.88  17.93  20.21       23.88     67
  53  2.47   3.29   4.14   5.02   5.90   6.78   7.81   8.95  10.16  11.66    13.94  15.64  17.72  20.04  22.62       26.36     68
  54  2.72   3.60   4.49   5.46   6.46   7.46   8.67   9.89  11.28  12.97    15.60  17.47  19.80  22.40  25.33       29.10     69
      --------------------------------------------------------------------------------------------------------------------
  55  2.99   3.93   4.86   5.95   7.08   8.21   9.52  10.93  12.49  14.42    17.44  19.55  22.14  25.05  28.35       32.10     70
  56  3.15   4.16   5.21   6.39   7.61   8.72  10.12  11.57  13.23  15.25    18.41  20.60  23.37  26.50  29.98       35.27     71
  57  3.30   4.40   5.57   6.86   8.08   9.24  10.72  12.23  13.99  16.11    19.42  21.67  24.61  27.94  31.50       38.64     72
  58  3.45   4.65   5.96   7.28   8.55   9.75  11.32  12.89  14.78  17.00    20.43  22.73  25.84  29.29  32.95       42.31     73
  59  3.60   4.91   6.30   7.71   9.02  10.25  11.92  13.58  15.60  17.90    21.43  23.76  26.95  30.54  34.36       46.33     74
      --------------------------------------------------------------------------------------------------------------------
  60  3.75   5.11   6.63   8.12   9.48  10.75  12.55  14.28  16.43  18.81    22.41  24.66  27.95  31.74  35.74       50.77     75
  61  3.85   5.29   6.95   8.53   9.94  11.26  13.19  14.98  17.26  19.69    23.26  25.44  28.87  32.89  37.10       55.68     76
  62  3.92   5.45   7.27   8.93  10.40  11.78  13.82  15.67  18.08  20.47    24.01  26.11  29.71  34.00  38.42       61.11     77
  63  3.95   5.58   7.57   9.34  10.86  12.27  14.45  16.33  18.80  21.16    24.66  26.68  30.48  35.05  39.67       67.05     78
  64  3.96   5.67   7.87   9.75  11.31  12.74  15.04  16.89  19.43  21.77    25.21  27.15  31.13  36.00  40.79       73.52     79
      --------------------------------------------------------------------------------------------------------------------
  65  3.92   5.74   8.15  10.14  11.74  13.17  15.54  17.36  20.00  22.31    25.67  27.48  31.66  36.80  41.73       80.51     80
  66  4.29   6.32   8.96  11.20  13.04  14.57  17.12  19.11  21.91  24.43    28.05  30.18  34.76  40.38  45.60       88.09     81
  67  4.71   6.97   9.86  12.37  14.43  16.09  18.85  21.04  24.03  26.77    30.67  33.13  38.13  44.27  49.80       96.11     82
  68  5.17   7.69  10.84  13.60  15.93  17.75  20.75  23.19  26.38  29.36    33.53  36.35  41.79  48.48  54.23      104.63     83
  69  5.68   8.48  11.87  14.93  17.57  19.58  22.87  25.57  28.97  32.20    36.64  39.84  45.76  52.95  58.92      114.01     84
      --------------------------------------------------------------------------------------------------------------------
  70  6.24   9.31  12.97  16.37  19.39  21.62  25.22  28.23  31.82  35.28    39.98  43.62  49.96  57.71  64.09      124.28     85
  71  6.83  10.21  14.16  17.95  21.41  23.90  27.84  31.15  34.93  38.62    43.59  47.63  54.44  62.96  69.73      135.43     86
  72  7.46  11.18  15.46  19.71  23.66  26.43  30.73  34.35  38.29  42.23    47.39  51.90  59.38  68.71  75.85      147.47     87
  73  8.15  12.26  16.90  21.66  26.17  29.22  33.89  37.84  41.94  46.06    51.42  56.61  64.78  74.96  82.44      160.39     88
  74  8.90  13.45  18.49  23.82  28.94  32.29  37.33  41.64  45.81  50.12    55.84  61.77  70.66  81.72  89.50      174.01     89
  75  9.74  14.77  20.25  26.19  31.98  35.64  41.09  45.70  49.93  54.60    60.66  57.37  77.01  88.99  96.92      188.09     90
      --------------------------------------------------------------------------------------------------------------------
  76 10.65  16.18  22.19  28.69  35.00  38.97  44.81  49.73  54.39  59.50    66.08  73.34  83.74  96.53 104.75      205.68     91
  77 11.65  17.72  24.31  31.40  38.27  42.50  48.76  54.18  59.27  64.82    71.94  79.75  90.84 104.33 114.53      224.20     92
  78 12.76  19.40  26.59  34.33  41.73  46.24  53.12  59.04  64.57  70.56    78.22  86.50  98.17 114.07 124.82      243.68     93
  79 13.95  21.22  29.07  37.43  45.41  50.37  57.88  64.31  70.28  76.72    84.85  93.49 107.33 124.32 135.65      264.14     94
  80 15.25  23.18  31.69  40.73  49.46  54.89  63.05  70.01  76.43  83.22    91.70 102.21 116.97 135.10 147.03      285.62     95
      --------------------------------------------------------------------------------------------------------------------
                                                                                                                    308.14     96
                                                                                                                    331.72     97
                                                                                                                    356.40     98
                                                                                                                    382.20     99
                                                                                                                    409.15    100
</TABLE>


                            Schedule 1 - Page 2 of 5
<PAGE>   46
YRT PREMIUM RATES - MALE JUVENILE AND SMOKER

<TABLE>
<CAPTION>
                                                                                                                            ATTAINED
      1      2      3      4      5      6      7      8      9       10      11      12      13      14      15   ULTIMATE   AGE
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C>    <C>    <C>    <C>    <C>    <C>    <C>    <C>    <C>     <C>     <C>     <C>     <C>     <C>     <C>    <C>      <C>
0    1.97   1.32   1.02   0.94   0.85   0.79   0.77   0.71    0.68    0.68    0.64    0.68    0.71    0.79    0.98    1.33     15
1    1.35   1.00   0.96   0.88   0.81   0.78   0.72   0.69    0.68    0.64    0.67    0.71    0.78    0.96    1.13    1.79     16
2    1.02   0.94   0.90   0.83   0.79   0.73   0.70   0.69    0.64    0.67    0.69    0.78    0.94    1.10    1.48    1.97     17
3    0.96   0.88   0.85   0.82   0.75   0.71   0.70   0.65    0.67    0.70    0.76    0.93    1.08    1.45    1.63    2.10     18
4    0.89   0.83   0.83   0.77   0.73   0.71   0.66   0.68    0.70    0.76    0.91    1.07    1.41    1.59    1.72    2.23     19
    ----------------------------------------------------------------------------------------------------------------------
5    0.84   0.82   0.78   0.74   0.73   0.67   0.69   0.71    0.77    0.91    1.04    1.40    1.54    1.68    1.83    2.33     20
6    0.83   0.77   0.76   0.74   0.68   0.70   0.72   0.78    0.92    1.05    1.35    1.53    1.63    1.78    1.90    2.46     21
7    0.78   0.75   0.76   0.70   0.71   0.74   0.80   0.94    1.05    1.36    1.48    1.62    1.73    1.86    2.00    2.56     22
8    0.76   0.75   0.71   0.73   0.75   0.81   0.96   1.08    1.37    1.49    1.57    1.72    1.80    1.95    2.08    2.64     23
9    0.76   0.70   0.75   0.77   0.83   0.98   1.11   1.41    1.50    1.57    1.66    1.79    1.89    2.03    2.14    2.69     24
    ----------------------------------------------------------------------------------------------------------------------
10   0.71   0.74   0.78   0.85   1.01   1.13   1.45   1.55    1.59    1.67    1.73    1.88    1.97    2.09    2.19    2.72     25
11   0.74   0.77   0.87   1.04   1.17   1.49   1.60   1.63    1.68    1.73    1.82    1.95    2.02    2.13    2.20    2.67     26
12   0.78   0.86   1.07   1.21   1.54   1.64   1.69   1.73    1.75    1.82    1.89    2.01    2.06    2.15    2.16    2.62     27
13   0.87   1.05   1.24   1.61   1.69   1.74   1.79   1.80    1.84    1.89    1.94    2.05    2.08    2.11    2.12    2.58     28
14   1.06   1.22   1.65   1.77   1.79   1.84   1.87   1.90    1.91    1.95    1.98    2.06    2.05    2.07    2.09    2.55     29
    ----------------------------------------------------------------------------------------------------------------------
15   1.24   1.62   1.82   1.88   1.91   1.92   1.97   1.97    1.97    1.98    1.99    2.03    2.01    2.04    2.08    2.53     30
16   1.59   1.72   1.86   1.93   1.92   1.97   2.00   1.99    1.98    1.99    1.96    1.99    1.99    2.03    2.07    2.43     31
17   1.69   1.75   1.91   1.94   1.96   1.99   2.00   1.99    1.98    1.95    1.92    1.96    1.97    2.02    2.01    2.35     32
18   1.71   1.79   1.91   1.96   1.97   1.98   1.99   1.97    1.92    1.90    1.89    1.94    1.96    1.96    1.96    2.31     33
19   1.74   1.79   1.92   1.96   1.95   1.96   1.96   1.90    1.87    1.87    1.88    1.92    1.90    1.91    1.94    2.29     34
    ----------------------------------------------------------------------------------------------------------------------
20   1.73   1.80   1.91   1.93   1.92   1.91   1.87   1.83    1.82    1.84    1.86    1.85    1.85    1.89    1.94    2.28     35
21   1.74   1.79   1.87   1.88   1.86   1.82   1.79   1.78    1.79    1.81    1.79    1.80    1.82    1.88    1.94    2.40     36
22   1.71   1.75   1.81   1.80   1.76   1.73   1.72   1.73    1.75    1.74    1.74    1.77    1.81    1.89    2.05    2.54     37
23   1.66   1.69   1.73   1.69   1.66   1.64   1.66   1.68    1.67    1.68    1.71    1.75    1.81    1.99    2.18    2.71     38
24   1.60   1.61   1.60   1.57   1.57   1.57   1.60   1.59    1.61    1.65    1.70    1.75    1.90    2.11    2.34    2.90     39
    ----------------------------------------------------------------------------------------------------------------------
25   1.51   1.50   1.49   1.47   1.49   1.50   1.50   1.51    1.56    1.63    1.69    1.83    2.01    2.26    2.52    3.13     40
26   1.48   1.47   1.49   1.50   1.52   1.50   1.50   1.53    1.59    1.66    1.80    1.96    2.17    2.43    2.73    3.42     41
27   1.44   1.45   1.50   1.52   1.51   1.50   1.53   1.56    1.63    1.77    1.94    2.12    2.34    2.64    3.00    3.78     42
28   1.40   1.44   1.52   1.51   1.51   1.52   1.56   1.60    1.75    1.91    2.10    2.30    2.55    2.91    3.33    4.20     43
29   1.38   1.43   1.49   1.50   1.53   1.55   1.59   1.73    1.89    2.07    2.28    2.51    2.82    3.24    3.71    4.70     44
    ----------------------------------------------------------------------------------------------------------------------
30   1.35   1.38   1.47   1.51   1.55   1.58   1.72   1.87    2.06    2.26    2.50    2.78    3.15    3.62    4.18    5.27     45
31   1.29   1.34   1.47   1.53   1.59   1.70   1.86   2.04    2.25    2.48    2.79    3.11    3.53    4.09    4.71    5.89     46
32   1.24   1.32   1.48   1.56   1.70   1.84   2.03   2.23    2.48    2.76    3.13    3.51    3.99    4.62    5.28    6.58     47
33   1.21   1.31   1.50   1.67   1.84   2.00   2.22   2.46    2.77    3.11    3.53    3.98    4.53    5.19    5.94    7.31     48
34   1.19   1.31   1.59   1.79   2.00   2.19   2.45   2.75    3.13    3.51    4.02    4.52    5.11    5.85    6.64    8.12     49
    ----------------------------------------------------------------------------------------------------------------------
35   1.17   1.36   1.70   1.94   2.18   2.41   2.74   3.11    3.55    4.01    4.59    5.12    5.78    6.56    7.42    8.97     50
36   1.22   1.45   1.82   2.08   2.36   2.64   3.01   3.43    3.93    4.43    5.05    5.66    6.37    7.23    8.13   10.16     51
37   1.28   1.55   1.95   2.26   2.59   2.92   3.33   3.80    4.34    4.88    5.57    6.22    7.02    7.93    9.13   11.51     52
38   1.36   1.66   2.11   2.48   2.86   3.25   3.71   4.22    4.79    5.38    6.11    6.84    7.69    8.91   10.26   13.01     53
39   1.44   1.80   2.32   2.75   3.19   3.64   4.14   4.67    5.28    5.89    6.69    7.47    8.64   10.01   11.50   14.68     54
    ----------------------------------------------------------------------------------------------------------------------
40   1.53   1.97   2.57   3.07   3.58   4.09   4.60   5.16    5.79    6.46    7.29    8.37    9.70   11.22   12.87   16.55     55
41   1.66   2.19   2.87   3.45   4.03   4.58   5.12   5.69    6.34    7.03    8.14    9.37   10.88   12.57   14.39   18.32     56
42   1.82   2.44   3.23   3.89   4.51   5.13   5.67   6.26    6.91    7.84    9.09   10.47   12.18   14.06   15.79   20.27     57
43   2.00   2.74   3.64   4.37   5.06   5.71   6.28   6.85    7.72    8.75   10.12   11.68   13.61   15.44   17.33   22.47     58
44   2.21   3.09   4.09   4.91   5.65   6.37   6.91   7.68    8.62    9.74   11.26   13.01   14.94   16.95   19.05   24.95     59
    ----------------------------------------------------------------------------------------------------------------------
45   2.46   3.47   4.60   5.49   6.30   7.06   7.80   8.62    9.61   10.83   12.50   14.24   16.40   18.64   20.96   27.73     60
46   2.70   3.81   5.01   5.99   6.85   7.88   8.77   9.73   10.89   12.31   14.08   16.00   18.43   20.99   23.66   30.48     61
47   2.97   4.16   5.44   6.49   7.63   8.80   9.84  10.97   12.32   13.76   15.84   18.02   20.75   23.65   26.41   33.47     62
48   3.26   4.54   5.88   7.20   8.50   9.81  11.02  12.35   13.69   15.36   17.85   20.31   23.39   26.37   29.45   36.65     63
49   3.57   4.93   6.51   8.00   9.45  10.91  12.33  13.65   15.21   17.18   20.15   22.92   26.07   29.35   32.73   40.09     64
    ----------------------------------------------------------------------------------------------------------------------
50   3.90   5.48   7.20   8.85  10.49  12.12  13.55  15.09   16.93   19.25   22.76   25.57   29.02   32.58   36.35   43.83     65
51   4.36   6.10   7.95   9.79  11.62  13.22  14.89  16.72   18.87   21.59   25.42   28.50   32.20   36.13   40.32   47.50     66
52   4.88   6.77   8.76  10.80  12.64  14.42  16.39  18.54   21.06   23.95   28.36   31.67   35.70   40.03   44.34   51.51     67
53   5.45   7.50   9.63  11.70  13.74  15.74  18.06  20.59   23.26   26.54   31.55   35.16   39.55   43.96   48.77   55.83     68
54   6.09   8.30  10.40  12.67  14.96  17.21  19.93  22.62   25.65   29.32   35.06   38.99   43.44   48.29   53.62   60.51     69
    ----------------------------------------------------------------------------------------------------------------------
55   6.79   9.03  11.22  13.74  16.32  18.84  21.75  24.83   28.21   32.37   38.91   42.87   47.71   53.03   58.93   65.51     70
56   7.11   9.51  11.95  14.67  17.42  19.88  22.96  26.10   29.66   33.97   40.36   44.37   49.44   55.05   61.14   70.60     71
57   7.41  10.01  12.71  15.66  18.37  20.91  24.13  27.37   31.11   35.29   41.79   45.81   51.11   56.97   63.02   75.88     72
58   7.72  10.52  13.52  16.51  19.32  21.90  25.29  28.63   32.30   36.59   43.16   47.17   52.65   58.56   64.65   81.47     73
59   8.02  11.04  14.20  17.35  20.22  22.86  26.44  29.63   33.48   37.86   44.45   48.38   53.85   59.89   66.09   87.45     74
    ----------------------------------------------------------------------------------------------------------------------
60   8.30  11.42  14.86  18.15  21.10  23.79  27.34  30.60   34.62   39.07   45.60   49.24   54.77   61.02   67.38   93.93     75
61   8.45  11.75  15.47  18.92  21.95  24.49  28.22  31.52   35.71   40.17   46.43   49.81   55.46   61.98   68.54  100.92     76
62   8.55  12.00  16.05  19.67  22.58  25.15  29.05  32.37   36.70   41.01   46.99   50.13   55.94   62.79   69.53  108.50     77
63   8.56  12.19  16.59  20.22  23.17  25.74  29.81  33.11   37.43   41.62   47.31   50.21   56.24   63.40   70.33  116.58     78
64   8.50  12.30  16.95  20.74  23.69  26.24  30.45  33.59   37.96   42.04   47.42   50.07   56.28   63.79   70.81  125.13     79
    ----------------------------------------------------------------------------------------------------------------------
65   8.33  12.23  17.26  21.19  24.13  26.62  30.87  33.86   38.31   42.28   47.32   49.64   56.05   63.84   70.89  134.11     80
66   9.02  13.28  18.67  23.01  26.35  28.93  33.39  36.58   41.17   45.36   50.67   53.42   60.28   68.60   75.85  143.56     81
67   9.76  14.42  20.20  24.97  28.64  31.36  36.07  39.51   44.28   48.68   54.29   57.45   64.77   73.62   81.04  153.20     82
68  10.57  15.65  21.82  26.98  31.04  33.95  38.96  42.70   47.63   52.28   58.15   61.73   69.48   78.90   86.33  163.07     83
69  11.44  16.97  23.48  29.06  33.61  36.75  42.11  46.17   51.27   56.11   62.21   66.22   74.45   84.30   91.73  173.69     84
    ----------------------------------------------------------------------------------------------------------------------
70  12.38  18.33  25.19  31.28  36.38  39.80  45.54  49.94   55.16   60.16   66.46   70.96   79.53   89.85   97.54  185.00     85
71  13.33  19.75  27.00  33.66  39.40  43.12  49.26  53.99   59.29   64.41   70.90   75.81   84.74   95.82  103.71  196.92     86
72  14.33  21.25  28.94  36.25  42.69  46.74  53.26  58.31   63.63   68.87   75.42   80.78   90.35  102.19  110.20  209.37     87
73  15.38  22.86  31.03  39.05  46.28  50.64  57.53  62.88   68.21   73.42   80.02   86.13   96.33  108.91  116.96  222.27     88
74  16.51  24.62  33.29  42.10  50.14  54.80  62.04  67.73   72.89   78.07   84.95   91.84  102.65  115.95  123.95  235.28     89
75  17.73  26.52  35.74  45.35  54.26  59.21  66.82  72.72   77.70   83.07   90.19   97.86  109.25  123.25  130.98  248.03     90
    ----------------------------------------------------------------------------------------------------------------------
76  19.03  28.48  38.38  48.66  58.14  63.37  71.29  77.39   82.74   88.46   95.99  104.04  115.97  130.45  138.07  264.41     91
77  20.43  30.58  41.17  52.13  62.22  67.60  75.87  82.42   88.12   94.15  102.04  110.43  122.75  137.52  147.18  280.85     92
78  21.93  32.80  44.11  55.79  66.38  71.95  80.80  87.77   93.78  100.09  108.32  116.88  129.39  146.58  156.32  297.32     93
79  23.51  35.14  47.20  59.52  70.64  76.62  86.05  93.41   99.69  106.24  114.65  123.21  137.92  155.69  165.48  313.77     94
80  25.17  37.59  50.35  63.33  75.23  81.59  91.58  99.30  105.82  112.44  120.85  131.33  146.48  164.81  174.62  330.15     95
    ----------------------------------------------------------------------------------------------------------------------
                                                                                                                    346.40     96
                                                                                                                    362.48     97
                                                                                                                    378.34     98
                                                                                                                    393.91     99
                                                                                                                    409.15    100
                
                
                
</TABLE>
 


                            Schedule 1 - Page 3 of 5
<PAGE>   47
YRT Premium Rates - Female Nonsmoker

<TABLE>
<CAPTION>
                                                                                                                       
       1        2        3        4        5        6        7        8        9        10       11        12        13        14
-----------------------------------------------------------------------------------------------------------------------------------
<S>  <C>      <C>      <C>      <C>      <C>      <C>      <C>      <C>      <C>      <C>      <C>       <C>       <C>       <C>
 0                                                                                                                     
 1                                                                                                                      
 2                                                                                                                      
 3
 4
     ------------------------------------------------------------------------------------------------------------------------------
 5
 6
 7
 8
 9
     ------------------------------------------------------------------------------------------------------------------------------
10
11
12
13
14
     ------------------------------------------------------------------------------------------------------------------------------
15    0.62     0.66     0.68     0.68     0.68     0.68     0.69     0.69     0.72     0.71      0.71      0.73      0.74      0.76
16    0.63     0.67     0.69     0.68     0.68     0.69     0.69     0.70     0.72     0.71      0.72      0.74      0.76      0.78
17    0.64     0.68     0.68     0.68     0.69     0.69     0.69     0.70     0.72     0.72      0.73      0.75      0.78      0.81
18    0.65     0.67     0.68     0.68     0.69     0.69     0.69     0.70     0.72     0.73      0.75      0.77      0.80      0.82
19    0.64     0.67     0.68     0.69     0.69     0.69     0.69     0.70     0.73     0.74      0.77      0.79      0.82      0.84
     ------------------------------------------------------------------------------------------------------------------------------
20    0.64     0.67     0.68     0.68     0.68     0.68     0.69     0.71     0.74     0.75      0.79      0.81      0.83      0.86
21    0.64     0.66     0.68     0.68     0.68     0.68     0.70     0.72     0.75     0.76      0.80      0.82      0.85      0.89
22    0.63     0.66     0.67     0.67     0.68     0.69     0.70     0.73     0.76     0.77      0.82      0.84      0.88      0.93
23    0.62     0.65     0.66     0.67     0.68     0.69     0.71     0.74     0.77     0.78      0.84      0.87      0.92      0.98
24    0.62     0.64     0.66     0.67     0.68     0.69     0.72     0.75     0.77     0.79      0.86      0.91      0.97      1.04
     ------------------------------------------------------------------------------------------------------------------------------
25    0.61     0.63     0.66     0.67     0.69     0.70     0.73     0.76     0.78     0.81      0.90      0.96      1.03      1.12
26    0.61     0.63     0.66     0.68     0.70     0.71     0.74     0.77     0.80     0.84      0.93      1.00      1.08      1.18
27    0.61     0.64     0.67     0.69     0.71     0.73     0.76     0.79     0.83     0.87      0.98      1.06      1.14      1.25
28    0.61     0.64     0.68     0.70     0.72     0.75     0.78     0.82     0.87     0.92      1.03      1.11      1.21      1.36
29    0.62     0.65     0.68     0.71     0.74     0.77     0.81     0.86     0.92     0.97      1.09      1.18      1.32      1.49
     ------------------------------------------------------------------------------------------------------------------------------
30    0.62     0.65     0.68     0.72     0.76     0.80     0.85     0.91     0.97     1.03      1.16      1.30      1.45      1.62
31    0.62     0.65     0.69     0.73     0.78     0.84     0.90     0.96     1.03     1.10      1.27      1.42      1.57      1.75
32    0.62     0.65     0.70     0.76     0.82     0.89     0.95     1.03     1.10     1.21      1.40      1.55      1.70      1.90
33    0.63     0.66     0.71     0.79     0.86     0.94     1.02     1.10     1.21     1.34      1.53      1.68      1.84      2.05
34    0.63     0.67     0.74     0.82     0.91     1.01     1.09     1.21     1.34     1.47      1.66      1.82      1.99      2.20
     ------------------------------------------------------------------------------------------------------------------------------
35    0.64     0.69     0.76     0.86     0.97     1.08     1.21     1.34     1.47     1.60      1.81      1.97      2.14      2.36
36    0.66     0.72     0.80     0.91     1.03     1.19     1.34     1.48     1.61     1.76      1.98      2.15      2.33      2.57
37    0.69     0.76     0.85     0.97     1.14     1.31     1.47     1.62     1.77     1.93      2.15      2.34      2.53      2.81
38    0.71     0.80     0.90     1.07     1.25     1.44     1.60     1.77     1.94     2.11      2.35      2.55      2.76      3.11
39    0.74     0.85     0.99     1.18     1.37     1.58     1.76     1.94     2.11     2.31      2.55      2.78      3.05      3.44
     ------------------------------------------------------------------------------------------------------------------------------
40    0.78     0.92     1.09     1.29     1.50     1.73     1.92     2.12     2.31     2.52      2.79      3.07      3.37      3.84
41    0.84     1.01     1.19     1.41     1.64     1.89     2.09     2.31     2.52     2.76      3.09      3.40      3.75      4.28
42    0.91     1.10     1.30     1.55     1.80     2.06     2.28     2.52     2.77     3.07      3.42      3.78      4.17      4.79
43    0.98     1.20     1.43     1.69     1.96     2.24     2.49     2.76     3.07     3.40      3.81      4.22      4.66      5.27
44    1.05     1.31     1.57     1.85     2.14     2.44     2.72     3.06     3.40     3.80      4.25      4.71      5.11      5.80
     ------------------------------------------------------------------------------------------------------------------------------
45    1.14     1.44     1.71     2.02     2.33     2.67     3.01     3.39     3.80     4.26      4.75      5.17      5.61      6.39
46    1.22     1.55     1.86     2.19     2.55     2.96     3.36     3.82     4.29     4.82      5.29      5.77      6.29      7.17
47    1.32     1.68     2.01     2.39     2.83     3.29     3.77     4.31     4.84     5.36      5.89      6.45      7.04      8.03
48    1.41     1.81     2.20     2.64     3.13     3.68     4.24     4.87     5.38     5.96      6.57      7.21      7.86      8.93
49    1.52     1.97     2.42     2.91     3.49     4.12     4.77     5.41     5.99     6.65      7.32      8.03      8.73      9.92
     ------------------------------------------------------------------------------------------------------------------------------
50    1.64     2.16     2.67     3.24     3.90     4.62     5.29     6.02     6.67     7.40      8.14      8.89      9.67     10.99
51    1.80     2.37     2.96     3.61     4.36     5.09     5.86     6.70     7.42     8.22      8.99      9.83     10.70     12.19
52    1.97     2.63     3.29     4.03     4.80     5.62     6.51     7.46     8.23     9.08      9.93     10.86     11.84     13.52
53    2.17     2.91     3.67     4.42     5.29     6.22     7.22     8.28     9.08    10.01     10.94     11.99     13.10     15.01
54    2.39     3.23     4.03     4.86     5.83     6.87     7.99     9.14    10.01    11.02     12.05     13.25     14.52     16.68
     ------------------------------------------------------------------------------------------------------------------------------
55    2.65     3.54     4.43     5.35     6.43     7.58     8.79    10.07    11.01    12.14     13.29     14.65     16.11     18.55
56    2.80     3.76     4.72     5.71     6.84     8.01     9.28    10.62    11.65    12.89     14.25     15.72     17.30     19.94
57    2.96     4.00     5.03     6.07     7.23     8.44     9.77    11.19    12.33    13.70     15.30     16.89     18.60     21.51
58    3.14     4.24     5.34     6.42     7.62     8.87    10.27    11.78    13.06    14.56     16.43     18.15     20.05     22.90
59    3.31     4.49     5.63     6.76     8.01     9.32    10.80    12.41    13.83    15.49     17.66     19.57     21.34     24.48
     ------------------------------------------------------------------------------------------------------------------------------
60    3.49     4.71     5.92     7.11     8.41     9.78    11.35    13.08    14.65    16.47     19.05     20.82     22.81     26.31
61    3.65     4.94     6.21     7.47     8.83    10.26    11.93    13.77    15.52    17.57     20.27     22.26     24.51     28.41
62    3.80     5.16     6.51     7.85     9.27    10.77    12.54    14.50    16.48    18.49     21.67     23.91     26.45     30.79
63    3.95     5.39     6.82     8.24     9.73    11.30    13.17    15.29    17.26    19.53     23.28     25.80     28.66     33.49
64    4.10     5.62     7.14     8.66    10.21    11.84    13.86    15.90    18.14    20.72     25.13     27.95     31.16     36.52
     ------------------------------------------------------------------------------------------------------------------------------
65    4.26     5.86     7.48     9.09    10.70    12.43    14.37    16.59    19.15    22.07     27.24     30.39     33.97     39.88
66    4.58     6.32     8.08     9.83    11.61    13.33    15.49    17.99    20.90    24.24     29.95     33.51     37.53     44.05
67    4.94     6.82     8.73    10.67    12.45    14.36    16.78    19.61    22.91    26.72     33.01     37.01     41.47     48.58
68    5.34     7.37     9.48    11.43    13.41    15.55    18.27    21.46    25.20    29.54     36.45     40.88     45.75     54.03
69    5.77     8.00    10.15    12.31    14.51    16.92    19.99    23.58    27.81    32.71     40.25     45.09     50.90     59.92
     ------------------------------------------------------------------------------------------------------------------------------
70    6.26     8.57    10.93    13.33    15.78    18.50    21.94    25.98    30.73    36.23     44.38     50.14     56.46     66.22
71    6.71     9.23    11.84    14.49    17.25    20.29    24.15    28.67    33.97    40.06     49.34     55.60     62.43     72.94
72    7.23     9.98    12.87    15.83    18.91    22.33    26.63    31.65    37.49    44.68     54.69     61.45     68.79     80.06
73    7.83    10.86    14.06    17.36    20.79    24.61    29.36    34.88    41.72    49.68     60.43     67.68     75.53     87.57
74    8.52    11.86    15.42    19.09    22.91    27.12    32.33    38.76    46.29    55.06     66.54     74.29     82.64     95.46
75    9.32    13.00    16.96    21.03    25.23    29.84    35.89    42.95    51.20    60.83     73.01     81.25     90.12    103.71
     ------------------------------------------------------------------------------------------------------------------------------
76   10.28    14.40    18.82    23.35    27.99    33.38    40.04    47.76    56.76    67.20     80.39     89.16     98.57    113.08
77   11.38    15.98    20.90    25.90    31.31    37.24    44.53    52.95    62.70    73.99     88.22     97.52    107.47    122.92
78   12.61    17.74    23.18    28.97    34.92    41.41    49.36    58.49    69.03    81.19     96.49    106.33    116.83    134.67
79   13.99    19.66    25.91    32.31    38.83    45.90    54.52    64.39    75.75    88.80    105.21    115.59    127.99    147.12
80   15.50    21.98    28.90    35.92    43.04    50.69    60.02    70.65    82.85    96.81    114.36    126.63    139.82    160.29
     ------------------------------------------------------------------------------------------------------------------------------

<CAPTION>
                                 Attained                                                                                      
       15           Ultimate        Age
-----------------------------------------
<S>  <C>            <C>          <C>
 0                                  15
 1                                  16
 2                                  17
 3                                  18
 4                                  19
     ------------------------
 5                                  20
 6                                  21
 7                                  22
 8                                  23
 9                                  24
     -----------------------
10                                  25
11                                  26
12                                  27
13                                  28
14                                  29
     -----------------------
15        0.79          0.90        30
16        0.81          0.91        31
17        0.83          0.92        32
18        0.85          0.94        33
19        0.87          0.96        34    
     -----------------------
20        0.90          1.00        35
21        0.94          1.04        36
22        0.99          1.10        37
23        1.06          1.17        38
24        1.13          1.25        39
     -----------------------
25        1.22          1.34        40
26        1.29          1.48        41
27        1.41          1.64        42
28        1.54          1.81        43
29        1.67          1.98        44
     -----------------------
30        1.80          2.18        45
31        1.94          2.38        46
32        2.09          2.60        47
33        2.23          2.83        48
34        2.39          3.08        49
     -----------------------
35        2.55          3.37        50
36        2.79          3.72        51
37        3.08          4.11        52
38        3.41          4.58        53
39        3.80          5.10        54
     -----------------------
40        4.24          5.69        55
41        4.73          6.24        56
42        5.20          6.85        57
43        5.72          7.52        58
44        6.30          8.26        59
     -----------------------
45        6.93          9.05        60
46        7.77          9.85        61
47        8.66         10.71        62
48        9.64         11.62        63
49       10.70         12.62        64
     -----------------------
50       11.89         13.71        65
51       13.21         14.92        66
52       14.69         16.25        67
53       16.34         17.73        68
54       18.20         19.35        69
     -----------------------
55       20.29         21.19        70
56       21.90         22.92        71
57       23.33         24.91        72
58       24.97         27.20        73
59       26.86         29.86        74
     -----------------------
60       29.03         32.93        75
61       31.50         36.44        76
62       34.29         40.44        77
63       37.43         44.96        78
64       40.92         49.99        79
     -----------------------
65       44.72         55.49        80
66       49.33         62.12        81
67       54.88         69.34        82
68       60.87         77.15        83
69       67.30         85.55        84
     -----------------------
70       74.15         94.53        85
71       81.41        104.10        86
72       89.07        114.24        87
73       97.12        124.97        88
74      105.55        136.27        89
75      114.33        148.14        90
     -----------------------
76      124.29        162.30        91
77      136.16        177.31        92
78      148.75        193.19        93
79      162.07        209.95        94
80      176.12        227.61        95
     -----------------------
                      246.18        96
                      265.68        97
                      286.12        98
                      307.53        99
                      329.91        100
</TABLE>


                            Schedule 1 - Page 4 of 5
<PAGE>   48

YRT Premium Rates - Female Juvenile and Smoker

<TABLE>
<CAPTION>
                                                                                                                            Attained
        1      2      3      4      5      6       7       8       9      10     11     12     13     14     15     Ultimate    Age
       -----------------------------------------------------------------------------------------------------------------------------
<S>     <C>    <C>    <C>    <C>    <C>    <C>     <C>     <C>     <C>    <C>    <C>    <C>    <C>    <C>    <C>    <C>      <C>    
 0      1.16   0.71   0.67   0.64   0.61   0.59    0.57   0.56    0.57   0.56   0.57   0.59   0.62   0.65   0.70       0.82      15
 1      0.69   0.68   0.65   0.61   0.59   0.58    0.56   0.56    0.57   0.57   0.58   0.61   0.64   0.69   0.74       0.86      l6
 2      0.65   0.65   0.62   0.60   0.58   0.56    0.56   0.56    0.58   0.59   0.61   0.64   0.68   0.73   0.77       0.90      17
 3      0.63   0.63   0.61   0.58   0.56   0.56    0.56   0.56    0.59   0.61   0.63   0.68   0.72   0.76   0.80       0.93      18
 4      0.61   0.61   0.59   0.56   0.56   0.56    0.56   0.58    0.62   0.63   0.67   0.71   0.75   0.79   0.83       0.95      19
       --------------------------------------------------------------------------------------------------------------------        
 5      0.59   0.59   0.57   0.56   0.56   0.57    0.58   0.60    0.64   0.67   0.70   0.74   0.78   0.81   0.84       0.96      20
 6      0.57   0.57   0.57   0.56   0.57   0.58    0.60   0.62    0.68   0.70   0.73   0.77   0.80   0.83   0.86       0.98      21
 7      0.56   0.57   0.57   0.57   0.59   0.60    0.62   0.66    0.71   0.73   0.76   0.79   0.81   0.84   0.87       1.01      22
 8      0.56   0.57   0.58   0.59   0.61   0.63    0.66   0.69    0.74   0.76   0.78   0.80   0.83   0.86   0.89       1.02      23
 9      0.56   0.58   0.60   0.61   0.63   0.66    0.69   0.72    0.77   0.78   0.79   0.81   0.84   0.87   0.90       1.03      24
       --------------------------------------------------------------------------------------------------------------------
 10     0.57   0.60   0.62   0.63   0.67   0.69    0.72   0.74    0.79   0.80   0.80   0.83   0.86   0.88   0.91       1.04      25
 11     0.58   0.62   0.64   0.67   0.70   0.72    0.74   0.76    0.81   0.81   0.82   0.85   0.87   0.89   0.91       1.07      26
 12     0.60   0.65   0.68   0.70   0.73   0.75    0.76   0.78    0.82   0.83   0.83   0.85   0.88   0.90   0.94       1.10      27
 13     0.63   0.69   0.72   0.73   0.76   0.77    0.78   0.79    0.83   0.84   0.84   0.86   0.88   0.92   0.96       1.13      28
 14     0.66   0.72   0.75   0.76   0.78   0.78    0.79   0.80    0.85   0.85   0.85   0.87   0.91   0.95   0.99       1.17      29
       --------------------------------------------------------------------------------------------------------------------        
 15     0.69   0.75   0.78   0.78   0.79   0.80    0.80   0.82    0.86   0.86   0.85   0.89   0.93   0.97   1.02       1.22      30
 16     0.71   0.77   0.79   0.79   0.80   0.81    0.81   0.83    0.86   0.86   0.88   0.92   0.96   1.02   1.08       1.26      31
 17     0.73   0.78   0.79   0.79   0.80   0.81    0.82   0.83    0.87   0.89   0.91   0.95   1.01   1.07   1.12       1.29      32
 18     0.73   0.78   0.79   0.80   0.81   0.81    0.82   0.84    0.89   0.91   0.95   1.00   1.06   1.11   1.16       1.34      33
 19     0.73   0.78   0.80   0.81   0.81   0.82    0.83   0.86    0.91   0.93   0.99   1.05   1.10   1.15   1.22       1.40      34
       --------------------------------------------------------------------------------------------------------------------        
 20     0.73   0.78   0.80   0.80   0.81   0.82    0.84   0.88    0.93   0.96   1.04   1.09   1.14   1.20   1.28       1.48      35
 21     0.73   0.78   0.80   0.80   0.81   0.83    0.86   0.90    0.96   1.00   1.07   1.12   1.19   1.27   1.37       1.58      36
 22     0.73   0.77   0.79   0.80   0.82   0.84    0.87   0.93    0.99   1.02   1.11   1.17   1.25   1.35   1.48       1.70      37
 23     0.72   0.76   0.78   0.81   0.83   0.85    0.90   0.96    1.01   1.05   1.16   1.23   1.34   1.46   1.61       1.83      38
 24     0.71   0.75   0.79   0.81   0.84   0.87    0.93   0.99    1.04   1.08   1.22   1.32   1.44   1.58   1.75       1.98      39
       --------------------------------------------------------------------------------------------------------------------        
 25     0.70   0.75   0.79   0.82   0.86   0.89    0.94   1.01    1.07   1.12   1.30   1.41   1.56   1.72   1.92       2.15      40
 26     0.71   0.76   0.81   0.85   0.90   0.92    0.98   1.05    1.11   1.19   1.37   1.51   1.66   1.85   2.06       2.44      41
 27     0.72   0.77   0.83   0.88   0.92   0.96    1.02   1.10    1.18   1.26   1.47   1.61   1.78   1.99   2.30       2.75      42
 28     0.73   0.78   0.85   0.90   0.95   1.00    1.07   1.16    1.25   1.35   1.57   1.73   1.92   2.22   2.56       3.09      43
 29     0.74   0.80   0.87   0.92   0.99   1.05    1.13   1.24    1.34   1.45   1.69   1.87   2.14   2.47   2.82       3.44      44
       --------------------------------------------------------------------------------------------------------------------        
 30     0.76   0.81   0.88   0.95   1.03   1.12    1.21   1.33    1.45   1.57   1.83   2.09   2.39   2.73   3.08       3.82      45
 31     0.77   0.82   0.90   0.99   1.09   1.20    1.31   1.44    1.57   1.71   2.05   2.33   2.64   2.99   3.36       4.30      46
 32     0.77   0.84   0.93   1.04   1.16   1.29    1.42   1.56    1.70   1.93   2.29   2.59   2.90   3.28   3.72       4.81      47
 33     0.79   0.86   0.96   1.10   1.25   1.40    1.55   1.70    1.92   2.17   2.55   2.85   3.18   3.63   4.08       5.37      48
 34     0.80   0.89   1.01   1.17   1.34   1.53    1.69   1.93    2.17   2.43   2.81   3.14   3.53   4.00   4.47       5.98      49
       --------------------------------------------------------------------------------------------------------------------        
 35     0.83   0.92   1.06   1.25   1.45   1.68    1.93   2.19    2.43   2.70   3.10   3.49   3.89   4.40   4.87       6.68      50
 36     0.87   0.98   1.14   1.35   1.58   1.89    2.17   2.45    2.71   3.02   3.50   3.91   4.34   4.91   5.46       7.55      51
 37     0.92   1.05   1.23   1.47   1.78   2.13    2.43   2.73    3.03   3.41   3.92   4.37   4.84   5.50   6.17       8.51      52
 38     0.97   1.14   1.34   1.66   2.01   2.39    2.70   3.04    3.42   3.83   4.38   4.87   5.40   6.23   6.97       9.66      53
 39     1.04   1.23   1.51   1.87   2.25   2.65    3.01   3.43    3.84   4.30   4.88   5.44   6.10   7.04   7.93      10.95      54
       --------------------------------------------------------------------------------------------------------------------        
 40     1.11   1.38   1.70   2.09   2.51   2.95    3.39   3.85    4.30   4.81   5.47   6.15   6.89   8.02   9.01      12.44      55
 41     1.23   1.55   1.91   2.33   2.79   3.32    3.80   4.31    4.81   5.40   6.19   6.95   7.82   9.12  10.26      13.68      56
 42     1.36   1.73   2.13   2.60   3.15   3.72    4.25   4.81    5.41   6.13   6.99   7.89   8.87  10.39  11.32      15.06      57
 43     1.50   1.93   2.38   2.94   3.53   4.16    4.74   5.40    6.13   6.96   7.95   8.97  10.08  11.47  12.50      16.60      58
 44     1.65   2.15   2.69   3.30   3.95   4.65    5.31   6.12    6.96   7.94   9.04  10.20  11.11  12.67  13.81      18.28      59
       --------------------------------------------------------------------------------------------------------------------        
 45     1.81   2.43   3.03   3.70   4.42   5.20    6.01   6.93    7.93   9.06  10.29  11.25  12.25  14.02  15.25      20.06      60
 46     2.01   2.70   3.37   4.12   4.96   5.91    6.85   7.97    9.13  10.45  11.51  12.61  13.79  15.80  17.17      21.88      61
 47     2.23   3.00   3.75   4.61   5.61   6.71    7.86   9.17   10.51  11.67  12.88  14.16  15.50  17.74  19.19      23.83      62
 48     2.47   3.33   4.20   5.21   6.36   7.66    9.01  10.56   11.73  13.05  14.42  15.88  17.37  19.79  21.40      25.91      63
 49     2.73   3.71   4.74   5.89   7.24   8.74   10.34  11.80   13.10  14.60  16.14  17.75  19.33  22.03  23.82      28.17      64
       --------------------------------------------------------------------------------------------------------------------        
 50     3.03   4.18   5.35   6.69   8.25   9.99   11.51  13.18   14.65  16.32  18.00  19.71  21.47  24.48  26.51      30.65      65
 51     3.40   4.70   6.07   7.60   9.41  11.08   12.82  14.73   16.36  18.19  19.94  21.85  23.81  27.19  29.50      32.89      66
 52     3.81   5.32   6.90   8.65  10.40  12.28   14.29  16.45   18.21  20.14  22.05  24.17  26.39  30.21  32.36      35.31      67
 53     4.30   6.03   7.84   9.54  11.51  13.63   15.91  18.32   20.14  22.25  24.35  26.74  29.27  33.08  35.51      37.94      68
 54     4.86   6.84   8.65  10.54  12.75  15.12   17.66  20.27   22.24  24.55  26.88  29.59  31.99  36.24  38.97      40.79      69
       --------------------------------------------------------------------------------------------------------------------        
 55     5.50   7.53   9.55  11.65  14.11  16.72   19.48  22.38   24.51  27.08  29.69  32.28  34.99  39.72  42.78      43.98      70
 56     5.85   8.03  10.22  12.47  15.05  17.69   20.58  23.62   25.97  28.79  31.39  34.14  37.02  42.05  45.46      46.79      71
 57     6.22   8.57  10.92  13.30  15.92  18.67   21.69  24.91   27.51  30.15  33.20  36.12  39.19  44.64  47.64      50.02      72
 58     6.61   9.13  11.62  14.07  16.80  19.65   22.83  26.26   28.72  31.58  35.13  38.23  41.59  46.75  50.15      53.71      73
 59     7.01   9.68  12.28  14.86  17.68  20.66   24.03  27.27   29.97  33.08  37.19  40.57  43.54  49.16  53.03      57.95      74
       --------------------------------------------------------------------------------------------------------------------        
 60     7.41  10.20  12.94  15.65  18.60  21.70   24.90  28.31   31.27  34.65  39.48  42.47  45.78  51.94  56.32      62.77      75
 61     7.77  10.71  13.59  16.47  19.55  22.46   25.79  29.36   32.62  36.38  41.34  44.65  48.35  55.10  60.03      68.21      76
 62     8.12  11.21  14.27  17.32  20.23  23.23   26.70  30.44   34.10  37.66  43.47  47.15  51.28  58.68  64.17      74.30      77
 63     8.46  11.72  14.97  17.94  20.93  24.00   27.61  31.61   35.13  39.12  45.92  50.01  54.59  62.67  68.75      81.04      78
 64     8.80  12.25  15.47  18.57  21.64  24.77   28.59  32.33   36.32  40.81  48.71  53.23  58.28  67.06  73.73      88.35      79
       --------------------------------------------------------------------------------------------------------------------        
 65     9.15  12.60  15.97  19.22  22.35  25.60   29.17  33.17   37.69  42.72  51.86  56.83  62.35  71.84  79.00      96.12      80
 66     9.74  13.42  17.02  20.49  23.89  27.03   30.94  35.38   40.44  46.11  55.99  61.50  67.60  77.81  85.41     105.40      81
 67    10.39  14.30  18.15  21.91  25.21  28.66   32.98  37.91   43.56  49.92  60.58  66.65  73.24  84.11  93.08     ll5.18      82
 68    11.08  15.25  19.41  23.12  26.72  30.53   35.31  40.78   47.07  54.17  65.64  72.19  79.20  91.63 101.08     125.39      83
 69    11.83  16.32  20.49  24.51  28.46  32.67   37.95  44.01   50.98  58.87  71.07  78.03  86.31  99.48 109.35     135.97      84
       --------------------------------------------------------------------------------------------------------------------        
 70    12.67  17.22  21.72  26.10  30.44  35.10   40.92  47.60   55.29  63.94  76.80  85.01  93.74 107.59 117.82     146.83      85
 71    13.39  18.26  23.14  27.92  32.69  37.83   44.22  51.56   59.93  69.31  83.65  92.29 101.41 115.90 126.42     157.92      86
 72    14.22  19.45  24.75  29.99  35.22  40.86   47.86  55.81   64.83  75.72  90.79  99.81 109.28 124.32 135.10     169.16      87
 73    15.17  20.82  26.59  32.31  38.03  44.20   51.76  60.30   70.68  82.44  98.16 107.52 117.27 132.82 143.78     180.49      88
 74    16.26  22.37  28.65  34.89  41.12  47.78   55.86  65.65   76.80  89.42 105.70 115.33 125.33 141.31 152.41     191.83      89
 75    17.49  24.11  30.95  37.72  44.43  51.54   60.77  71.23   83.13  96.60 113.35 123.21 133.40 149.75 160.92     203.11      90
       --------------------------------------------------------------------------------------------------------------------        
 76    18.98  26.23  33.74  41.10  48.32  56.50   66.39  77.53   90.12 104.31 121.91 131.98 142.32 159.15 170.38     216.57      91
 77    20.65  28.59  36.75  44.70  52.97  61.72   72.26  84.06   97.32 112.18 130.58 140.81 151.26 168.51 181.67     230.07      92
 78    22.49  31.14  39.96  48.99  57.87  67.18   78.34  90.76  104.65 120.16 139.31 149.65 160.15 179.67 192.99     243.54      93
 79    24.49  33.85  43.80  53.52  62.98  72.83   84.59  97.60  112.09 128.19 148.06 158.44 170.75 190.87 204.29     256.90      94
 80    26.62  37.10  47.84  58.24  68.27  78.63   90.96 104.54  119.59 136.24 156.76 168.94 181.40 202.04 215.49     270.07      95
       --------------------------------------------------------------------------------------------------------------------        
                                                                                                                     282.96      96
                                                                                                                     295.48      97
                                                                                                                     307.54      98
                                                                                                                     319.05      99
                                                                                                                     329.91     100

</TABLE>




                            Schedule 1 - Page 5 of 5