Document:

Exhibit 10.14

 Exhibit 10.14 
  
 ACCIDENTAL DEATH AND DISMEMBERMENT 
  
 EXCESS OF LOSS 
 REINSURANCE AGREEMENT 
 DWVD NO. 500/02 
 (hereinafter referred to as the “Agreement”) 
  
 made and entered into by 
  
 EDUCATORS MUTUAL LIFE INSURANCE COMPANY 
 Lancaster, Pennsylvania 
 (hereinafter referred to as the “Company”) 
  
 and 
  
 SWISS RE LIFE AND HEALTH AMERICA, INC. 
 Stamford, Connecticut 

(hereinafter referred to as the “Reinsurer”) 
  

Effective: January 1, 2002 
  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 

  
 TABLE OF CONTENTS

  

			
	 ARTICLE I - PARTIES TO AGREEMENT
	  	1
		
	 ARTICLE II - BASIS OF REINSURANCE
	  	2
		
	 ARTICLE III - RETENTION AND LIMIT
	  	3
		
	 ARTICLE IV - METHOD OF CESSION
	  	4
		
	 ARTICLE V - LIABILITY
	  	5
		
	 ARTICLE VI - EFFECTIVE DATE AND DURATION
	  	6
		
	 ARTICLE VII - EXCLUSIONS
	  	7
		
	 ARTICLE VIII - CURRENCY
	  	8
		
	 ARTICLE IX - REINSURANCE PREMIUMS
	  	9
		
	 ARTICLE X - EXPERIENCE REFUND
	  	10
		
	 ARTICLE XI - REINSTATEMENT
	  	11
		
	 ARTICLE XII - SETTLEMENT OF CLAIMS
	  	12
		
	 ARTICLE XIII - EXTRA CONTRACTUAL OBLIGATIONS
	  	13
		
	 ARTICLE XIV - OFFSET
	  	14
		
	 ARTICLE XV - TERRITORY
	  	15
		
	 ARTICLE XVI - ERRORS AND OMISSIONS
	  	16
		
	 ARTICLE XVII - ACCESS TO RECORDS
	  	17
		
	 ARTICLE XVIII - ORIGINAL CONDITIONS
	  	18
		
	 ARTICLE XIX - COMMUTATION
	  	19
		
	 ARTICLE XX - SERVICE OF SUIT
	  	20
		
	 ARTICLE XXI - UNAUTHORIZED REINSURERS
	  	21
		
	 ARTICLE XXII - INSOLVENCY
	  	23
		
	 ARTICLE XXIII - ARBITRATION
	  	24
		
	 ARTICLE XXIV - CONTROLLING LAW
	  	25
		
	 ARTICLE XXV - SEVERABILITY
	  	26

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 i 

			
	 ARTICLE XXVI - TAXES
	  	27
		
	 ARTICLE XXVII - FEDERAL EXCISE TAX
	  	28
		
	 ARTICLE XXVIII - CONFIDENTIALITY
	  	29
		
	 ARTICLE XXIX - ENTIRE AGREEMENT
	  	30
		
	 ARTICLE XXX - INTERMEDIARY
	  	31
		
	 ARTICLE XXXI - EXECUTION
	  	32

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 ii 

  
 ARTICLE I - PARTIES TO
AGREEMENT 
  
 This Agreement is solely between the Company and the
Reinsurer and the performance of obligations of each party under this Agreement shall be rendered solely to the other party. In no instances, shall anyone other than the Company or the Reinsurer have any rights under this Agreement. 
  
 This Agreement shall be binding upon the parties, their heirs, and successors, if any.

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 1 

 ARTICLE II - BASIS OF REINSURANCE 
  

	1.	Automatic Reinsurance. Whenever the Company issues a Group Policy providing Accidental Death and Dismemberment (AD&D) insurance, within the limits permitted by the
Underwriting Guidelines of the Company, the Company will cede, and the Reinsurer will accept automatically AD&D reinsurance in amounts not exceeding the amounts in Article III – Retention and Limit. Automatic reinsurance, as provided
herein, shall apply to benefits payable to covered persons under all AD&D policies in force at or becoming effective at or after January 1, 2002, including renewals. 

  
 Such policies shall be issued within the limits permitted by the
Underwriting Guidelines including rates and all other provisions of the Company applicable to the business hereunder. 
  

	2.	Facultative Reinsurance. For any group case providing amounts of insurance that does not conform to the Underwriting Guidelines of the Company, and is for this or for any
reason not eligible for automatic reinsurance under the provisions of this Agreement, such case may be offered to the Reinsurer for reinsurance on a facultative basis. The Reinsurer, upon receipt of such facultative submission, will render a
decision as to the case as soon as is practically possible. If accepted by the Reinsurer, unless mutually agreed otherwise by the Company and the Reinsurer, such case will be reinsured under this Agreement according to the rates, and all other
provisions applicable to automatic reinsurance. 

  

	3.	Expenses. The Company shall pay for all medical examinations, inspection fees, attending physicians’ statements and other charges incurred in connection with the
original policy or certificate. 

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 2 

 ARTICLE III - RETENTION AND LIMIT 
  
 AD&D amounts will be written in conjunction with Group Life, amounts of AD&D not to
exceed five hundred thousand dollars ($500,000) per person. 
  

					
	 	 	 Retention of
 the Company

	 	 Amount Ceded
 to the Reinsurer

	 AD&D
	 	$25,000 per person	 	100% of those amounts in excess of $25,000 up to a maximum of $475,000 per person ($475,000 in excess of $25 000).

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 3 

 ARTICLE IV - METHOD OF CESSION 
  
 The Company will furnish the Reinsurer with a Master Copy of each form for which reinsurance will be required under this Agreement. In
addition, the Company will furnish the Reinsurer annually with appropriate census material for AD&D amounts in excess of twenty-five thousand dollars ($25,000) per person. 
  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 4 

 ARTICLE V - LIABILITY 
  
 The liability of the Reinsurer will be determined in accordance with the terms of the applicable Group Policy issued by the Company. The
liability of the Reinsurer on any reinsurance under this Agreement begins, subject to prior approval on Group cases submitted facultatively, and ends at the same time as that of the Company. However, in no event, will the Reinsurer accept liability
on claims incurred prior to the effective date of January 1, 2002. 
  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 5 

 ARTICLE VI - EFFECTIVE DATE AND DURATION 
  
 This Agreement shall be effective at 12:01 a.m., Local Standard Time, January 1, 2002,
with respect to losses occurring and shall remain in force for an indefinite period, but either party shall have the right to cancel as of midnight, December 31, 2002 or any midnight, December 31st thereafter by giving at least ninety (90) days written notice by certified or registered mail. 
  
 The Reinsurer shall be relieved on all liability hereunder for losses occurring subsequent to
the termination of this Agreement. 
  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 6 

 ARTICLE VII - EXCLUSIONS 
  
 This Agreement does not apply to and specifically excludes the following: 
  

	1.	Bodily or mental infirmity or disease of any kind, or an infection (unless due to an accidental cut or wound); or medical or surgical treatment, except where it is both:
(a) treatment of an injury that meets the tests of a covered loss; and (b) treatment performed within ninety (90) days after the injury; 

  

	2.	Insurrection or an act of war, declared or undeclared; or service in the armed forces of any country or international authority for a period longer than fifteen (15) days;

  

	3.	Unlawful participation in a riot, rebellion, or insurrection; 

  

	4.	Attempting to commit, or committing, an assault or felony; 

  

	5.	An intentionally self-inflicted injury or sickness while sane or insane; or suicide or attempted suicide whether sane or insane; 

  

	6.	Riding in or descending from any kind of aircraft: 

  

	 	a)	as a passenger on an aircraft operated by or for the armed forces; or 

  

	 	b)	as a pilot or crew member. (A crew member is anyone who has duties at any time on the flight, involving either the flight or the aircraft); or 

  

	 	c)	as a participant in aviation training (student or instructor); or 

  

	 	d)	as a participant in a sporting event or hobby; 

  

	7.	Intoxication from alcohol or narcotics, as defined under the laws of the jurisdiction in which the covered loss occurred, except in the case of a narcotic that was administered or
consumed on the advice of a physician. This exclusion does not apply to policies written prior to 1999. 

  

	8.	The voluntary taking of any kind of gas, except during the course of employment; the voluntary taking of any poison, except in the case of accidental food poisoning.

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 7 

 ARTICLE VIII - CURRENCY 
  
 All retentions and limits hereunder, are expressed in United States Dollars and all premium and loss payments shall be made in United States
currency. 
  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 8 

 ARTICLE IX - REINSURANCE PREMIUMS 
  

	1.	Group Accidental Death and Dismemberment. The reinsurance that is the subject of this Agreement is accepted by the Reinsurer at the rate of $.023 per thousand per month
(non-refunding). 

  

	2.	Payment. Premiums will be paid by the Company for the Reinsurer according to the same mode by which premiums for each reinsured group case are paid to the Company (either
annually, semi-annually, quarterly or monthly), and are due fifteen (15) days after the period covered by the premium statement. Changes in any insured group will be sent to the Reinsurer along with the corresponding premium adjustments. The
Reinsurer will accept any of the usual approximate methods of interim adjustment used between the Company and its policyholder. 

  

	3.	Failure to Pay. The payment of reinsurance premiums will be a condition precedent to the liability of the Reinsurer under reinsurance covered by this Agreement. In the event
that reinsurance premiums are not paid within ninety (90) days after the date they are due, all reinsurance under this Agreement shall terminate as of the last date of the last calendar month for which premiums have been paid.

  
 In the event of termination of reinsurance
under this Agreement due to non-payment of reinsurance premium as specified in this Agreement, the Reinsurer shall have no liability after the effective date of termination. With the written approval of the Reinsurer, such reinsurance may be
reinstated subject to the conditions contained in the Reinsurer’s approval. 
  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 9 

 ARTICLE X - EXPERIENCE REFUND 
  
 This reinsurance will be non-participating and not subject to an experience refund. 
  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 10 

 ARTICLE XI - REINSTATEMENT 
  
 If a policy or certificate, which is reinsured by the Reinsurer is lapsed by the Company, for non-payment of premium and then reinstated in
accordance with the rules of the Company, reinsurance will be reinstated automatically by the Reinsurer. Notice of reinstatement will be given promptly to the Reinsurer. The Company will pay to the Reinsurer all reinsurance premiums in arrears with
interest at the same rate as the Company received under its policy or certificate. 
  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 11 

 ARTICLE XII - SETTLEMENT OF CLAIMS 
  

	1.	Notice. The Company will notify the Reinsurer promptly after receipt of any material information on a claim where reinsurance is involved. The reinsurance claim form and
copies of notification, claim papers, and proofs will be furnished to the Reinsurer as soon as possible. 

  

	2.	Settlement. The Reinsurer will accept the decision of the Company on payment of a claim paid in accordance with the provisions of the group policy issued by the Company and
reinsured under the specific terms of this Agreement. For Group AD&D claims, the Reinsurer will pay its share of the loss and loss adjustment expense in a lump sum to the Company, without regard to the form of claim settlement of the Company.

  
 Loss adjustment expense as used herein shall
mean all costs and expense allocable to a specific claim that are incurred by the Company in the investigation, adjustment, settlement, litigation, or defense of a specific claim. Loss adjustment expense does not include unallocated loss adjustment
expense. Unallocated loss adjustment expense includes, but is not limited to salaries and expense of employees and office and other overhead expenses. 
  

	3.	Assistance and Advice. The Reinsurer will, on any claim, at the request of the Company, advise and assist the Company in its determination of liability, and in the best
procedure to follow with respect to a claim of doubtful validity. 

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 12 

 ARTICLE XIII - EXTRA CONTRACTUAL OBLIGATIONS 
  
 Extra Contractual Obligations are obligations outside of the contractual obligations and
include, but are not limited to, punitive damages, bad faith damages, compensatory damages, and other damages or statutory penalties which may arise from the willful and/or negligent acts or omissions by the Company. 
  
 The Reinsurer is not liable for Extra Contractual Obligations unless it concurred, in
writing, and in advance with the actions of the Company which ultimately led to the imposition of the Extra Contractual Obligations. In such situations, the Company and the Reinsurer will share in Extra Contractual Obligations, in equitable
proportions, but all factors being equal, the division of any such assessments would be in proportion to the total risk accepted by each party for the plan of insurance involved. 
  
 Notwithstanding anything stated herein, this Agreement will not apply to any Extra Contractual Obligations incurred by the Company as a
result of any negligence, fraud or wrong doing by any employee or officer of the Company or an agent representing the Company. 
  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 13 

 ARTICLE XIV - OFFSET 
  
 The Company or the Reinsurer shall have, and may exercise at any time and from time to time, the right to offset any balance or balances,
whether on account of premiums or on account of losses or otherwise, due from one party to the other under the terms of this Agreement. 
  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 14 

 ARTICLE XV - TERRITORY 
  
 The territorial limits shall be identical with those of the Company’s policies. 
  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 15 

 ARTICLE XVI - ERRORS AND OMISSIONS 
  
 Inadvertent delays, errors or omissions made in connection with this Agreement or any
transaction hereunder, shall not relieve either party from any liability which would have attached had such delay, error or omission not occurred, provided always that such delay, error or omission will be rectified as soon as possible after
discovery. 
  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 16 

 ARTICLE XVII - ACCESS TO RECORDS 
  
 The Reinsurer, or its duly appointed representatives, shall have the right at any reasonable
time, to examine all records in the possession of the Company referring to business effected hereunder. 
  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 17 

 ARTICLE XVIII - ORIGINAL CONDITIONS 
  
 All reinsurance falling under this Agreement, shall be subject to the same terms, rates,
conditions and waivers, and to the same modifications, alterations and terminations as the respective policies, contracts and binders of the Company. 
  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 18 

 ARTICLE XIX - COMMUTATION 
  
 The Company shall notify the Reinsurer of all claims hereunder which have not been finally settled at the end of two (2) years
following the end of the Agreement Year in which they occurred. The Reinsurer may then, or at any time thereafter, request that its liability with respect to one or more of such claims be commuted. In such event, the Company and the Reinsurer shall
appoint a mutually acceptable Actuary or Appraiser to investigate, determine and capitalize such claim or claims. Payment by the Reinsurer of its share of the amount ascertained to be the capitalized value of such claim or claims shall constitute a
complete and final release of the Reinsurer with respect to the claim or claims so capitalized. Any expenses incurred in connection with the commutation of claims, as provided herein, shall be paid by the Reinsurer. 
  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 19 

 ARTICLE XX - SERVICE OF SUIT 
  
 (Applicable if the Reinsurer is not domiciled in the United States of America and/or is not authorized in any state, territory, or district
of the United States where authorization is required by insurance regulatory authorities.) 
  

	1.	It is agreed that, in the event the Reinsurer fails to pay any amount claimed to be due hereunder, the Reinsurer, at the request of the Company, will submit to the jurisdiction of
any court of competent jurisdiction within the United States. Nothing in this Article constitutes or should be understood to constitute a waiver of the Reinsurer’s rights to commence an action in any court of competent jurisdiction in the
United States, to remove an action to a United States District Court, or seek a transfer of a case to another court as permitted by the laws of the United States or of any state of the United States. 

  

	2.	Further, pursuant to any statute or regulation of any state, territory, or district of the United States which makes provision therefore, the Reinsurer hereby designates the
Superintendent, Commissioner, or Director of Insurance, or any other officer specified for that purpose in the statute, or his successor successors in office, as its true and lawful attorney upon whom may be served any lawful process in any action,
suit, or proceeding instituted by or on behalf of the Company or any beneficiary hereunder arising out of this Agreement. 

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 20 

 ARTICLE XXI - UNAUTHORIZED REINSURERS 
  
 If the Reinsurer is unauthorized in any state of the United States of America or in the
District of Columbia, the Reinsurer agrees to fund its share of the Company’s ceded unearned premium and losses outstanding and Loss Adjustment Expense Reserves (including IBNR) by: 
  

	1.	Clean, irrevocable and unconditional letters of credit issued and confirmed, if confirmation is required by the insurance regulatory authorities involved, by a bank or banks meeting
the NAIC Securities Valuation Office credit standards for issuers of letters of credit and acceptable to said insurance regulatory authorities; and/or 

  

	2.	Escrow accounts for the benefit of the Company; and/or 

  

	3.	Cash advances; 

  
 if, without such funding, a penalty would accrue to the Company on any financial statement it is required to file with the insurance regulatory
authorities involved. The Reinsurer, at its sole option, may fund in other than cash if its method and form of funding are acceptable to the insurance regulatory authorities involved. 
  
 With regard to funding in whole or in part by letters of credit, it is agreed that each letter of credit will be in a form acceptable to the
insurance regulatory authorities involved, will be issued for a term of at least one (1) year, and will include an evergreen clause, which automatically extends the terms for a least one (1) additional year at each expiration date unless
written notice of non-renewal is given to the Company not less than thirty (30) days prior to said expiration date. The Company and the Reinsurer further agree, notwithstanding anything to the contrary in this Agreement, that said letters of
credit may be drawn upon by the Company or its successors in interest at any time, without diminution because of the insolvency of the Company or the Reinsurer, but only for one (1) or more of the following purposes: 
  

	1.	To reimburse the Company for the Reinsurer’s share of unearned premiums, returned to the Company on account of the cancellation of Original Reinsurance Contract(s), unless paid
in cash by the Reinsurer. 

  

	2.	To reimburse the Company for the Reinsurer’s share of any other Losses and/or Loss Adjustment Expenses paid under the terms of the Original Reinsurance Contract(s), unless paid
in cash by the Reinsurer. 

  

	3.	To reimburse the Company for the Reinsurer’s share of any other amounts claimed to be due hereunder, unless paid in cash by the Reinsurer. 

  

	4.	 To fund a cash account in an amount equal to the Reinsurer’s share of any ceded unearned premium and/or losses outstanding and Loss Adjustment Expense reserves

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 21 

	 	 
(including IBNR) funded by means of a letter of credit which is under non-renewal notice, if said letter of credit has not been renewed or replaced by the
Reinsurer ten (10) days prior to its expiration date. 

  

	5.	To refund to the Reinsurer any sum in excess of the actual amount required to fund the Reinsurer’s share of the Company’s ceded unearned premium and/or Loss Outstanding
and Loss Adjustment Expense reserves (including IBNR), if so requested by the Reinsurer. 

  
 In the event that the amount drawn by the Company on any letter of credit is in excess of the actual amount required for Items (1), (2), or (4) above, or in the case of Item (3), the actual amount determined to
be due, the Company shall promptly return to the Reinsurer the excess amount so drawn. 
  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 22 

 ARTICLE XXII - INSOLVENCY 
  
 In the event of the insolvency of the Company, this reinsurance shall be payable directly to the Company or to its liquidator, receiver,
conservator or statutory successor immediately upon demand, with reasonable provision for verification, on the basis of the liability of the Company without diminution because of the insolvency of the Company or because the liquidator, receiver,
conservator or statutory successor of the Company has failed to pay all or a portion of any claim. It is agreed, however, that the liquidator, receiver, conservator or statutory successor of the Company shall give written notice to the Reinsurer of
the pendency of a claim against the Company indicating the policy reinsured which claim would involve a possible liability on the part of the Reinsurer within a reasonable time after such claim is filed in the conservation or liquidation proceeding
or in the receivership, and that during the pendency of such claim, the Reinsurer may investigate such claim and interpose, at its own expense, in the proceeding where such claim is to be adjudicated, any defense or defenses that it may deem
available to the Company or its liquidator, receiver, conservator, or statutory successor. The expense thus incurred by the Reinsurer shall be chargeable, subject to the approval of the Court, against the Company as part of the expense of
conservation or liquidation to the extent of a pro rata share of the benefit which may accrue to the Company solely as a result of the defense undertaken by the Reinsurer. 
  
 It is further understood and agreed that, in the event of the insolvency of the Company, the reinsurance under this Agreement shall be
payable directly by the Reinsurer to the Company or to its liquidator, receiver or statutory successor, except (a) where this Agreement specifically provides another payee of such reinsurance in the event of the insolvency of the Company, or
(b) where the Reinsurer, with the consent of and in accordance with all of the requirements of the Insurance Department of the Company’s state of domicile and the direct insured or insured has assumed such policy obligations of the Company
as direct obligations of the Reinsurer to the payees under such policies and in substitution for the obligations of the Company to such payees. 
  
 The Reinsurer shall be liable only for the amounts reinsured and shall not be or become liable for any amounts or reserves to be held by the Company on policies reinsured
under this Agreement. 
  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 23 

 ARTICLE XXIII - ARBITRATION 
  
 The Reinsurer and the Company intend that any dispute between them under or with respect to this Agreement be resolved without resort to any
litigation. Accordingly, the Reinsurer and the Company agree that they will negotiate diligently and in good faith to agree on a mutually satisfactory resolution of any such dispute; provided, however, that if any such dispute cannot be so resolved
by them within sixty (60) calendar days (or such longer period as the parties may agree) after commencing such negotiations, the Reinsurer and the Company agree that they will submit such dispute to arbitration in the manner specified in, and
such arbitration proceeding will be conducted in accordance with, the rules of the American Arbitration Association. 
  
 The arbitration hearing will be before a panel of three arbitrators, each of whom must be a present or former officer of a life insurance or life reinsurance company. The
Reinsurer and the Company will each appoint one arbitrator by written notification to the other party within thirty (30) calendar days after the date of the mailing of the notification initiating the arbitration. These two arbitrators will then
select the third arbitrator within sixty (60) calendar days after the date of the mailing of the notification initiating arbitration. 
  
 If either the Reinsurer or the Company fails to appoint an arbitrator, or if the two arbitrators are unable to agree on a third arbitrator, the president of the American
Arbitration Association or of its successor organization or (if necessary) the president of any similar organization designated by lot of the Reinsurer and the Company within thirty (30) calendar days after the request, will appoint the
necessary arbitrators. 
  
 The vote or approval of a majority of the arbitrators
will decide any question considered by the arbitrators; provided, however, that if no two arbitrators reach the same decision, then the average of the two closest mathematical determinations will constitute the decision of all three arbitrators. The
place of arbitration will be Pennsylvania. Each decision (including, without limitation, each award) of the arbitrators will be final and binding on all parties and will be non-appealable, and (at the request of either of the Reinsurer or the
Company) any award of the arbitrators may be confirmed by a judgment entered by any court of competent jurisdiction. No such award or judgment will bear interest. Each party will be responsible for paying (a) all fees and expenses charged by
its respective counsel, accountants, actuaries, and other representatives in conjunction with such arbitration, and (b) one-half of the fees and expenses charge by each arbitrator. 
  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 24 

 ARTICLE XXIV - CONTROLLING LAW 
  
 This Agreement shall be governed by and construed in accordance with the laws of the State of Pennsylvania, without giving effect to the
principles of conflicts of laws thereof. 
  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 25 

 ARTICLE XXV - SEVERABILITY 
  
 If any part, term or provision of this Agreement shall be held void, illegal, or unenforceable, the validity of the remaining portion shall
not be affected thereby. 
  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 26 

 ARTICLE XXVI - TAXES 
  
 In consideration of the terms under which this Agreement is issued, the Company undertakes not to claim any deduction of the premium hereon
when making Canadian tax returns or when making tax returns, other than income or profit tax returns, to any state or territory of the United States of America or to the District of Columbia. 
  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 27 

 ARTICLE XXVII - FEDERAL EXCISE TAX 
  
 (Applicable to those reinsurers, excepting Underwriters at Lloyd’s London and other
reinsurers exempt from Federal Excise Tax, who are domiciled outside the Unites States of America). 
  

	A.	The Reinsurer has agreed to allow for the purpose of paying the Federal Excise Tax the applicable percentage of the premium payable hereon (as imposed under Section 4371 of the
Internal Revenue Code) to the extent such premium is subject to the Federal Excise Tax. 

  

	B.	In the event of any return of premium becoming due hereunder, the Reinsurer will deduct the applicable percentage from the return premium payable hereon and the Company or its agent
should take steps to recover the tax from the United States Government. 

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 28 

 ARTICLE XXVIII - CONFIDENTIALITY 
  
 Except as otherwise provided herein, the Company and the Reinsurer each agree that all
information communicated to it by the other, whether before the effective date or during the term of this Agreement, shall be used only for purposes of this Agreement, shall be received in strict confidence, and that no such information shall be
disclosed by the recipient party, its agent or employees without the prior written consent of the other party. Each party agrees to take all reasonable precautions to prevent the disclosure to outside parties of such information, except as may be
necessary by reason of legal, accounting or regulatory requirements beyond the reasonable control of the Company or the Reinsurer, as the case may be. 
  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 29 

 ARTICLE XXIX - ENTIRE AGREEMENT 
  
 This Agreement constitutes the entire agreement of the parties with respect to the matters
set forth herein and no amendment, alteration or modification of this Agreement shall be valid unless expressed in a written instrument duly executed by each of the parties hereto. 
  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 30 

 ARTICLE XXX - INTERMEDIARY 
  
 D. W. Van Dyke and Company of Connecticut, Inc., 323 Riverside Avenue, Westport, Connecticut 06880, is hereby recognized as the Intermediary
negotiating this Agreement for all business hereunder. All communications (including but not limited to notices, statements, premiums, return premiums, commissions, taxes, losses, loss adjustment expenses, salvages and loss settlements) relating
thereto, shall be transmitted to the Company or the Reinsurer through D. W. Van Dyke and Company of Connecticut, Inc. Payments by the Company to the Intermediary, shall constitute payment to the Reinsurer. Payments by the Reinsurer to the
Intermediary shall only constitute payment to the Company to the extent that such payments are actually received by the Company. 
  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 31 

 ARTICLE XXXI - EXECUTION 
  
 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their duly authorized representatives.

  
 Signed for and on behalf of: EDUCATORS MUTUAL LIFE INSURANCE COMPANY

  
 In: Lancaster, PA this 3rd day of July, 2002 
  

			
		
	 By:
	 	

	 Title:
	 	Vice President & Corporate Secretary

  
 Signed for and on behalf of: SWISS
RE LIFE AND HEALTH AMERICA, INC. 
  
 In: Armonk this 20 day of May, 2002 
  

			
		
	 By:
	 	

	 Title:
	 	Assistant Vice President

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 32 

  
 ADDENDUM NO. 1

  
 to 
  
 ACCIDENTAL DEATH AND DISMEMBERMENT 
  
 EXCESS OF LOSS 
 REINSURANCE AGREEMENT 
 DWVD No. 500/02 
  
 made and entered into by 
  
 EDUCATORS MUTUAL LIFE INSURANCE COMPANY 
 Lancaster, Pennsylvania 
 (hereinafter
referred to as the “Company”) 
  
 and

  
 SWISS RE LIFE AND HEALTH AMERICA INC. 
 Stamford, Connecticut 
 (hereinafter
referred to as the “Reinsurer”) 
  
 IT IS HEREBY UNDERSTOOD AND
AGREED that, effective 12:01 a.m., Local Standard Time, February 1, 2004, that the above captioned Agreement is revised as follows: 
  
 ARTICLE II – BASIS OF REINSURANCE, is hereby deleted in its entirety and replaced with the following: 
  
 Automatic Reinsurance. Whenever the Company issues a Group
Policy providing Accidental Death and Dismemberment (AD&D) insurance, within the limits permitted by the Underwriting Guidelines of the Company, the Company will cede, and the Reinsurer will accept automatically AD&D reinsurance in amounts
not exceeding the amounts in Article III – Retention and Limit, provided that the total reinsurance coverage to be provided by the Reinsurer, as respects any one Group (as defined below) reinsured under this Agreement, will be strictly limited
to and will not exceed one hundred million dollars ($100,000,000) per any single event or occurrence. The loss on any single event or occurrence is the sum of all individual losses arising out of one or more associated events or occurrences. Events
or occurrences will be deemed associated to the extent that they have a common cause or are a chain of events or occurrences forming a part of a schematic whole, even if the events or occurrences themselves are separate in time and place. For these
purposes, a series or sequence of events or occurrences reasonably likely to have been caused by one or more persons acting in concert or in accordance with a plan or design will be deemed to have a common cause. 
  
 When the Company provides coverage within the scope of this Agreement to any
Group requiring more than fifty million dollars ($50,000,000) of reinsured face amount of insurance, the Company will provide the Reinsurer written notice of the inception of such coverage within ninety (90) days of its effect. Each such notice
will include the number of subject lives included in the Group by 

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 1 

 
worksite address, including zip code, and total reinsured volume at each such work location. If the Company fails to provide any notice required under this
provision, until such notice is received by the Reinsurer, the maximum per event/occurrence coverage provided under this Agreement, as respects that Group, will be strictly limited to fifty million dollars ($50,000,000). 
  
 For purposes of this paragraph, the term “Group” includes
employer-employee groups, union, and association/MET arrangements comprised of employers. 
  
 Automatic reinsurance, as provided herein, shall apply to benefits payable to covered persons under all AD&D policies in force at or becoming effective at or after January 1, 2002, including renewals.

  
 Such policies shall be issued within the limits permitted by
the Underwriting Guidelines, including rates and all other provisions of the Company applicable to the business hereunder. 
  
 Facultative Reinsurance. If the coverage provided to a Group by the Company does not meet the automatic coverage criteria listed above, it
may be submitted facultatively to the Reinsurer for its consideration in its sole discretion. 
  
 Additionally, if the coverage provided to a Group by the Company exceeds one hundred million dollars ($100,000,000) of reinsured face amount, the Company may submit the Group for facultative consideration. 

 
 The Reinsurer, upon receipt of such facultative submission, will render a
decision as to the case as soon as is practically possible. If accepted by the Reinsurer, unless mutually agreed otherwise by the Company and the Reinsurer, such case will be reinsured under this Agreement according to the rates, and all other
provisions applicable to automatic reinsurance. 
  
 Expenses. The Company shall pay for all medical examinations, inspection fees, attending physicians’ statements and other charges incurred in connection with the original policy or certificate. 
  
 ARTICLE III – RETENTION AND LIMIT, is hereby deleted in its entirety and
replaced with the following: 
  
 AD&D amounts will be written
in conjunction with Group Life, amounts of AD&D not to exceed five hundred thousand dollars ($500,000) per person. 
  

					
	 	  	 Retention of
 the Company

	  	 Amount Ceded
 to the Reinsurer

	 AD&D
	  	$50,000 per person	  	100% of those amounts in excess of $50,000 up to a maximum of $450,000 per person ($450,000 in excess of $50,000).

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 2 

 ARTICLE IV – METHOD OF CESSION, is hereby deleted in its entirety and replace with the following:

  
 The Company will furnish the Reinsurer with a Master Copy of
each form for which reinsurance will be required under this Agreement. In addition, the Company will furnish the Reinsurer annually with appropriate census material for AD&D amounts in excess of fifty thousand dollars ($50,000) per person.

  
 All other terms and conditions remain unchanged. 
  
 IN WITNESS WHEREOF, the parties hereto have caused this Addendum No. 1 to be
executed by their duly authorized representative. 
  
 Signed for and on behalf of:
EDUCATORS MUTUAL LIFE INSURANCE COMPANY  
  

			
	 In Lancaster, PA this 28 day of April    , 2004

		
	 By:
	 	

	 Title:
	 	Vice President & Actuary

			
	
	Signed for and on behalf of: SWISS RE LIFE AND HEALTH AMERICA INC.

			
	
	In Armonk, NY this 7 day of June, 2004
		
	By:	 	

	 Title:
	 	Sr. Vice President

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 3 

 ADDENDUM NO. 2 
  
 to 
  
 ACCIDENTAL DEATH AND DISMEMBERMENT 
  
 EXCESS OF LOSS 
 REINSURANCE AGREEMENT

 DWVD No. 500/02 
  
 made and entered into by 
  
 EDUCATORS MUTUAL LIFE INSURANCE COMPANY 
 Lancaster, Pennsylvania 
 (hereinafter referred to as the “Company”) 
  
 and 
  
 SWISS RE LIFE AND HEALTH AMERICA INC. 
 Stamford, Connecticut 
 (hereinafter referred to as the “Reinsurer”) 
  
 IT IS HEREBY UNDERSTOOD AND AGREED that, effective 12:01 a.m., Local Standard Time,
February 1, 2004, that the above captioned Agreement is revised as follows: 
  
 ARTICLE VI – EFFECTIVE DATE AND DURATION, has been revised as follows: 
  
 Either party shall have the right to cancel as of midnight, June 30, 2006, or any midnight, June 30th thereafter, by giving at least ninety (90) days written notice by certified or registered mail. 
  
 All other provisions within this Article, remain unchanged. 
  
 All other terms and conditions within the Agreement and subsequent Addenda, remain unchanged.

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 1 

 IN WITNESS WHEREOF, the parties hereto have caused this Addendum No. 2 to be executed by their duly
authorized representative. 
  
 Signed for and on behalf of: EDUCATORS MUTUAL
LIFE INSURANCE COMPANY 
  
 In Lancaster, PA this 30 day of
November, 2004 
  

			
		
	By:	 	

	 Title:
	 	VP & Actuary

  
 Signed for and on behalf of: SWISS
RE LIFE AND HEALTH AMERICA INC. 
  
 In New York this 18 day
of November, 2004 
  

			
		
	By:	 	

	 Title:
	 	Sr. V.P.

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 2Exhibit 10.15

 Exhibit 10.15 
  
 GROUP LIFE REINSURANCE AGREEMENT NO. 900108 
  
 BETWEEN THE 
  
 EDUCATORS MUTUAL LIFE INSURANCE COMPANY 
  
 OF 
  
 LANCASTER, PENNSYLVANIA 
  
 referred to in this Agreement as the “Company” 
  
 and 
  
 CONNECTICUT
GENERAL LIFE INSURANCE COMPANY 
  
 OF 
  
 HARTFORD, CONNECTICUT 
  
 referred to in this Agreement as “The Reinsurer” 

 

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
  

 TABLE OF CONTENTS 
  

					
	 I.
	  	 Basis of Insurance
	  	1
			
	 II.
	  	 Method of Cession
	  	2
			
	 III.
	  	 Liability
	  	2
			
	 IV.
	  	 Reinsurance Premiums
	  	2
			
	 V.
	  	 General Provisions
	  	3
			
	 VI.
	  	 Settlement of Claims
	  	4
			
	 VII.
	  	 Changes in Limits
	  	6
			
	 VIII.
	  	 Experience Refund
	  	6
			
	 IX.
	  	 Conversions from Group Life to Ordinary Policies
	  	6
			
	 X.
	  	 Arbitration
	  	6
			
	 XI.
	  	 Duration of Agreement
	  	7
			
	 XII.
	  	 Dac Tax Regulation
	  	7
			
	 XIII.
	  	 Intermediary Clause
	  	8
			
	 XIV.
	  	 Execution
	  	9
			
	 Schedule A
	  	 Certificate of Facultative Reinsurance
	  	 
			
	 Schedule B
	  	 Underwriting Rules
	  	 
			
	 Schedule C
	  	 Retention Limits & Reinsurance Schedule/Rate
	  	 
			
	 Schedule D
	  	 Group Life Rate Table
	  	 
			
	 Schedule E
	  	 Group Life Rate Volume Discount Table
	  	 
			
	 Schedule F
	  	 Accelerated Death Benefit
	  	 
			
	 Schedule G
	  	 YRT Rates, Converted Policies
	  	 
			
	 Schedule H
	  	 Conversion Charges
	  	 
			
	 Schedule I
	  	 Experience Refund
	  	 
			
	 Exhibit I
	  	 Sample Policy and Certificate
	  	 

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
  

 The Company and The Reinsurer mutually agree to reinsure Group Life insurance including waiver of premium on the terms
and conditions set out below. The Agreement is solely between the Company and The Reinsurer, and performance of the obligations of each party under this Agreement shall be rendered solely to the other party. In no instance shall anyone other than
the Company or The Reinsurer have any rights under this Agreement. 
  
 ARTICLE I 
  
 BASIS OF INSURANCE

  

	1.	Automatic Reinsurance. Whenever the Company issues a group policy providing insurance within the limits permitted by the Underwriting Rules of the Company as described in
Schedule B and the Company retains its maximum limit of retention as shown in Schedule C, the Company will cede and The Reinsurer will accept automatically reinsurance in amounts not exceeding the amounts in Schedule C. All existing in force
business as of 7/1/95 will be accepted automatically. 

  

	2.	Facultative Reinsurance. For any group case providing amounts of insurance which do not conform to the Underwriting Rules of the Company as described in Schedule B, and is
for this, or for any reason not eligible for automatic reinsurance under the provisions of this treaty, such case may be offered to The Reinsurer for reinsurance on a facultative basis. The Reinsurer, upon receipt of such facultative submission,
will render a decision as to the case as soon as is practically possible. If accepted by The Reinsurer, unless mutually agreed otherwise by the Company and The Reinsurer, such case will be reinsured under this treaty according to the rates and all
other provisions applicable to automatic reinsurance. 

  
 The Reinsurer shall issue a Certificate of Facultative Reinsurance as set forth in Schedule A, attached hereto, for each facultative case accepted by the Reinsurer for reinsurance and the Reinsurer shall have no liability for reinsurance
unless and until acceptance of the risk is provided in the form of a Certificate. The Certificate shall set forth the reinsurance provisions, terms, and limitations and reinsurance premiums regarding the policy, master contract or certificate.

  
 The Reinsurer and the Company agree that any changes in the
provisions, terms, and limitations in the Certificate of Facultative Reinsurance shall be made in the form of a Revised Certificate executed by a duly authorized representative of the Reinsurer. 
  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 1 

 ARTICLE II 
  
 METHOD OF CESSION 
  
 The Company will send to The Reinsurer a Group Life reinsurance calculation based on the actual reinsurance census applied to the rates and discounts contained in
Schedules D and E. The Company will also furnish The Reinsurer with a copy of each policy and certificate form for which reinsurance will be required under this treaty. The sample Policy and sample Certificate are attached and made part of this
Treaty under Exhibit I. 
  
 ARTICLE III 

 
 LIABILITY 
  

	1.	Liability. The liability of The Reinsurer on any reinsurance under this Agreement begins, subject to prior approval on Group cases submitted facultatively, and ends at the
same time as that of the Company. 

  
 ARTICLE
IV 
  
 REINSURANCE PREMIUMS 
  

	1.	Group Life (Including Premium Waiver). The reinsurance premium will be calculated based on the actual reinsurance volume at each age applied to the Group Life rate table, as
shown in Schedule D. In addition, the Group Life Premium Discount Table shown in Schedule E should be applied to the total Group Life premium reported on each monthly reinsurance premium statement. The Group Life reinsurance premium will be subject
to no additional discount, commission or expense allowance. Rates for Group cases reinsured on a facultative basis, as explained in Article I, Paragraph 2., Facultative Reinsurance, will be reinsured according to the rates applicable to automatic
reinsurance, unless the Company and The Reinsurer mutually agree to do otherwise. 

  

	2.	Payment. Premiums will be paid by the Company to The Reinsurer according to the same mode by which premiums for each reinsured Group case are paid to the Company; either
annually, semi-annually, quarterly or monthly. Changes in any insured group will be sent to The Reinsurer along with the corresponding premium adjustments. The Reinsurer will accept any of the usual approximate methods of interim adjustment used
between the Company and its policyholder. 

  

	3.	 Failure to Pay. Except as provided in Article V, the payment of reinsurance premiums will be a condition precedent to the liability of The Reinsurer under
reinsurance covered by this Agreement. In the event of non-payment of reinsurance premiums, as provided in the preceding paragraphs, The Reinsurer will have the right to terminate the reinsurance under all policies having reinsurance premiums in
arrears and will also reserve the right 

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 2 

	 	 
to require that interest be paid, calculated according to an annual rate of 6%, on all premiums more than 90 days in arrears. If The Reinsurer elects to
exercise its right of termination, it will give the Company 30 days notice of its intention to terminate the reinsurance. If all reinsurance premiums in arrears, including any which may become in arrears during the thirty-day period, are not paid
before the expiration of the period, The Reinsurer will be relieved of future liability under all policies of reinsurance under which reinsurance premiums remain unpaid. The reinsurance terminated may be reinstated at any time within sixty days of
the date of termination upon payment of all reinsurance premium in arrears, but if reinstatement is made, The Reinsurer will have no liability in connection with any claims incurred between the date of termination and the date of reinstatement of
the reinsurance. The Reinsurer’s right to terminate reinsurance will be without prejudice to its right to collect premiums for the period reinsurance was inforce prior to the expiration of the 30 day notice period. 

 
 ARTICLE V 
  
 GENERAL PROVISIONS 
  

	1.	Delays, Errors or Omissions. No accidental delays, errors or omissions on the part of the Company shall relieve the Reinsurer of liability provided such delays, errors or
omissions are rectified as soon as possible after discovery. However, the Reinsurer shall not be liable with respect to any reinsurance which may have been inadvertently included in the premium computation but which ought not to have been included
by reason of the terms and conditions of this Agreement. Such inadvertent premium payments shall be returned. 

  

	2.	Inspection. At any reasonable time during normal business hours of the Company, The Reinsurer may inspect the original papers and any and all other books or documents at the
Home Office of the Company relating to or affecting reinsurance under this Agreement. 

  

	3.	Expenses. The Company will pay for all medical examinations, inspection fees, attending physicians’ statements, and other charges incurred in connection with the
original policy or certificate. 

  

	4.	 Reinstatement. If a policy, master contract or certificate issued by the Company and subject to the terms of this Agreement lapses for nonpayment of premiums
and the Company subsequently reinstates such coverage pursuant to the provisions contained in the policy, master contract or certificate and consistent with its rules and practices, the Company agrees to report the reinstatement premium due The
Reinsurer, if any, in the Company’s next Premium Statement. The Premium Statement shall include all reinsurance premium in arrears to the date of reinstatement, with interest at the same rate 

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 3 

	 	 
that the Company received. Upon receipt of such premium payments, the Reinsurer agrees to reinstate the reinsurance to be effective on the same date that the
Company reinstated coverage. 

  

	5.	Premium Taxes. If The Reinsurer is not required to pay State, County or City premium taxes, The Reinsurer will reimburse the Company for taxes the Company is required to pay
on the part of the premium paid to The Reinsurer. 

  

	6.	Insolvency. All reinsurance under this Agreement will be paid by The Reinsurer directly to the Company, its liquidator, receiver, or statutory successor, on the basis of the
liability of the Company under this policy or policies reinsured without diminution because of the insolvency of the Company. In the event of the insolvency of the Company, the liquidator, receiver, or statutory successor of the Company will give
written notice of a pending claim against the Company of any policy or certificate reinsured within a reasonable time after the claim is filed in the insolvency proceedings. While the claim is pending, The Reinsurer may investigate and interpose, at
its own expense, in the proceedings where the claim is to be adjudicated, any defenses which it may deem available to the Company or its liquidator, receiver or statutory successor. The expense incurred by The Reinsurer will be charged, subject to
court approval, against the Company as an expense of liquidation to the extent of a proportionate share of the benefit that accrues to the Company as a result of the defenses by The Reinsurer. Where two or more reinsurers are involved and a majority
in interest elect to defend a claim, the expense will be apportioned in accordance with the terms of the Reinsurance Agreement as if the expense had been incurred by the Company. 

  

	7.	Offset. The Company and Reinsurer shall have, and may exercise at any time, the right to offset any balance or balances, whether on account of premiums or on account of
losses or otherwise, due from one party to the other under the terms of this Agreement. 

  

	8.	Accelerated Death Benefits. When Group Life coverage offered by the Company includes an Accelerated Death Benefit feature, the coverage will be reinsured as outlined on
Schedule F. 

  
 ARTICLE VI 

 
 SETTLEMENT OF CLAIMS 
  

	1.	The Company is solely responsible for payment of Claims under the Policies, master contracts or certificates. However, The Reinsurer will participate in punitive damages when they
agree to investigate, contest, deny and/or litigate a claim. 

  

	2.	 The Reinsurer reserves the right to require the Company to provide documentation for any Claim payment made by the Company prior to the payment of any reinsurance.
If the Reinsurer requires Claim documentation, it shall make payment of any reinsurance 

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 4 

	 	 
due and payable to the Company within thirty (30) calendar days after receiving such documentation and will pay one lump sum to the Company, regardless
of the method of settlement under the original policy. 

  

	3.	The Company shall provide written notice to the Reinsurer of any Claim which may impact the reinsurance coverage under this Agreement within thirty (30) calendar days of
receipt of notification of claim. The Company shall also provide prompt notice to the Reinsurer of all subsequent significant developments relating to such claim. Inadvertent oversight or omission in the provision of such notice shall not relieve
the Reinsurer of liability providing the Company informs the Reinsurer of such oversight or omission promptly upon its discovery. 

  

	4.	The Reinsurer shall reserve the right to associate with the Company in the control of the Claim, including investigation, contest, denial or litigation of such Claim, and upon
exercising such right, the Company and Reinsurer shall cooperate in every respect in regard to the response to such Claim. 

  

	5.	The Company shall notify the Reinsurer of its intention to contest or deny a Claim which involves the reinsurance coverage under this Agreement before any notice of contest or
denial is provided to the claimant. The Reinsurer shall then have thirty (30) calendar days within which to advise the Company whether it agrees that the claim should be contested or denied. If the Reinsurer does not agree that the claim should
be contested or denied, then it shall pay to the Company the full amount of the reinsurance on the risk reinsured, as set forth in Article (regarding reinsurer liability), and the Reinsurer shall have no further obligation in respect to such claim.
If the Reinsurer agrees that the claim should be contested or denied, then the Reinsurer shall pay its share of the following in accordance with its share of liability under the Policy and any Rider set forth in Article I. 

 
 * Expenses incurred by the Company in investigating, contesting,
litigating or otherwise resisting the Claim, excluding salaries and expenses of employees, officers and agents of the Company and ordinary overhead expenses of the Company, and costs of third party administrators acting on behalf of the Ceding
Company and 
  
 * Interest which is paid by the Company in
respect of the Claim. 
  
 If the denial of a Claim results in a
verdict or judgment against the Company, where the Reinsurer has agreed with the claim denial, and the Company intends to appeal the verdict or judgment, written notice of the intention to appeal shall be provided to the Reinsurer. The Reinsurer
shall be entitled at that time to pay its share of the judgment, together with any expenses and interest as set forth above, and to have no further obligation in connection with such Claim. If the Reinsurer does not pay its share of the judgment and
any expenses and interest due at that time, the Reinsurer shall pay its share of the expenses associated with the appeal of the judgment or verdict, together with its share of any additional interest charges that may accrue during the appeal.

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 5 

 ARTICLE VII 
  
 CHANGES IN LIMITS 
  
 Changes in Limits. The Company may change the retention limits in Schedule C, by giving 30 days written notice to The Reinsurer. After receipt of this notice by
The Reinsurer, amounts to be reinsured automatically, premium rates, and recapture terms will be determined by mutual agreement. 
  
 ARTICLE VIII 
  
 EXPERIENCE REFUND 
  

	1.	Experience Refund. Reinsurance ceded in accordance with this Agreement shall be subject to an experience refund as contained in Schedule I. 

  
 ARTICLE IX 
  
 CONVERSIONS FROM GROUP LIFE TO ORDINARY POLICIES 
  

	1.	If any life insured under a policy written directly by the Company converts its Group Life insurance to a regular form of permanent Ordinary insurance in accordance with the rules
and conditions of the Group Life insurance policy under which it is included, will convert to a Connecticut General Life Insurance Company ordinary policy. Connecticut General Life Insurance Company will have 100% of the Conversion Liability under
these policies at the rates contained in Schedule G. 

  
 The Company will remit conversion charges to Connecticut General Life Insurance Company based on the rates contained in Schedule H. 
  
 ARTICLE X 
  
 ARBITRATION 
  

	1.	 In the event of any dispute or difference of opinion between the parties hereunder arising with respect to the rights or liabilities of either party, the Company
and the Reinsurer mutually agree that such dispute or difference of opinion shall be submitted to arbitration. Each party shall select an arbiter within thirty (30) days of the written request for arbitration. All arbiters shall be active or
retired disinterested executive officers of insurance or reinsurance companies. If either party fails or neglects to choose an arbiter within (30) calendar days of the written request for arbitration, the other party may appoint the second
arbiter. If the two arbitrators fail to agree on the selection of the umpire within thirty (30) days of the appointment of the second arbiter, each arbiter shall 

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 6 

	 	 
submit to the other a list of three umpire candidates, each arbiter shall select one name from the list submitted by the other and the umpire shall be
selected from the two names chosen by a lot drawing procedure to be agreed upon by the arbiters. 

  
 The arbiters shall interpret this Agreement as an honorable engagement and not merely as a legal obligation, and a majority decision of these arbiters
shall be final and binding on both parties and there shall be no appeal from the decision. The arbiters shall interpret this Agreement liberally rather than according to the rules law. 
  
 The arbiters are released from judicial formalities and may abstain from following the strict rule of law. The meeting of
the arbiters shall be in Lancaster, Pennsylvania unless some other place is mutually agreed upon by the arbiters. The cost of arbitration shall be borne equally by both parties unless the arbiters decide otherwise. It is specifically the intent of
both parties that this arbitration provision shall replace and be in lieu of any statutory arbitration provision. Judgment upon the final decision of the arbiters may be entered in any court of competent jurisdiction. 
  
 “This article shall survive the termination of this Agreement”

  
 ARTICLE XI 
  
 DURATION OF AGREEMENT 
  

	1.	Duration of Agreement. This Agreement will be effective on and after the effective date of July 1, 1995. The Agreement is unlimited in duration but may be amended by
mutual consent of the Company and the Reinsurer. It may be terminated as of any June 30 by either party provided 90 days prior written notice is given to the other party. Existing reinsurance may be recaptured at the end of this 90 day period.

  
 ARTTCLE XII 
  
 DAC TAX REGULATION 
  
 DAC TAX REGULATION - IRC Reg. Section 1.848-2(g)(8) Election 
  
 The Parties hereby make an election pursuant to Internal Revenue Code Regulation
Section 1.848-2(g)(8). This election shall be effective for all taxable years for which the Reinsurance Agreement remains in effect. 
  
 The terms used in this article are defined by reference to Regulation Section 1.848-2 promulgated on December 28, 1992. 
  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 7 

 The Party with net positive consideration for the Reinsurance Agreement for each taxable year will capitalize specified
policy acquisition expenses with respect to the Reinsurance Agreement without regard to the general deductions limitation of Section 848(c)(1) of the Internal Revenue Code of 1986 as amended. 
  
 The Parties agree to exchange information pertaining to the amount of net consideration under
the Reinsurance Agreement each year to ensure consistency. To achieve this, the Company shall provide the Reinsurer with a schedule of its calculation of the net consideration for all reinsurance Agreements in force between them for a taxable year
no later than May 1 of the succeeding year. The Reinsurer shall advise the Company if it disagrees with the amounts provided by no later than May 31, otherwise the amounts will be presumed correct and shall be reported by both parties in
their respective tax returns for such tax year. If the Reinsurer contests the Company’s calculation of the net consideration, the Parties agree to act in good faith to resolve any differences within thirty (30) days of the date the
Reinsurer submits its alternative calculation and report the amounts agreed upon in their respective tax returns for such tax year. 
  
 The Parties shall attach to their respective federal income tax returns a schedule specifying that the joint election herein has been made for this Reinsurance Agreement.

  
 The Reinsurer represents and warrants that it is subject to U.S. taxation
under either Subchapter L or Subpart F of Part III of Subchapter N of the Internal Revenue Code of 1986, as amended. 
  
 ARTICLE XIII 
  
 INTERMEDIARY CLAUSE 
  
 D. W. Van
Dyke and Company of Connecticut, Inc., 95 Rowayton Avenue, Rowayton, Connecticut 06853, is hereby recognized as the Intermediary negotiating this Agreement for all business hereunder. All communications (including, but not limited to, notices,
statements, premiums, return premiums, commissions, taxes, losses, loss adjustment expense, salvages and loss settlements) relating thereto shall be transmitted to the Company or the Reinsurer or the representatives of either through the office of
D. W. Van Dyke and Company of Connecticut, Inc. Payment by the Company or its representatives to the Intermediary shall be deemed to constitute payment to the Reinsurer. Payment by the Reinsurer or its representatives shall be deemed to constitute
payment to the Company to the extend that such payments are actually received by the Company or its representatives. 
  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 8 

 ARTICLE XIV 
  
 EXECUTION 
  
 This Agreement constitutes the entire contract between the parties and shall be deemed to have been made under and governed by the laws of the State of Connecticut. Any
amendment or modification hereto shall be in writing, endorsed upon or attached hereto and signed by both the Company and the Reinsurer. 
  
 In witness of the above, this agreement is signed in duplicate at the dates and places indicated with an effective date of July 1, 1995. 
  

			
	EDUCATORS MUTUAL LIFE INSURANCE COMPANY
		
	 By:
	 	

	 Title:
	 	Corporate Actuary
	 Date:
	 	 7/14/95

	
	CONNECTICUT GENERAL LIFE INSURANCE COMPANY
		
	By:	 	

	 Title:
	 	Assistant Director
	 Date:
	 	 July 5, 1995

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 9 

 SCHEDULE A 
  
 CONNECTICUT GENERAL LIFE INSURANCE COMPANY 
  
 In consideration of the payment of the premium and subject to the terms hereon and the general conditions set forth in the Reinsurance
Agreement for Group insurance to which this certificate is attached, does hereby reinsure: 
  
 Ceding Company name and address (herein called The Company): 
  
 Attention: 
  

					
	 	 	 Name of Insured

	  	 City, State

			
	 Company
 Policy Number

	 	 Reinsurers Certificate Period
 From     -     To

	  	 Prior Certificate Number
 Renewal of
             Replace

			
	 Type of Insurance

	 	 	  	 
			
	 Policy Provisions

	 	 Company Retention

	  	 Reinsurance Accepted

  

							
	 Premium Rates

	 Coverage

	 	 Payable

	 	 Rates

	 	 Allowances

  
 The Group Life reinsurance average
rate/$1000 is subject to recalculation and change on each Group Life policy. The Company will provide census data for such recalculations. 
  
 IN WITNESS WHEREOF this certificate is signed on the date indicated at the Home Office of Connecticut General Life Insurance Company

  

									
					
	 Date:
	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 	 	 

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 

 SCHEDULE B 
  
 ISSUE LIMITS AND UNDERWRITING RULES 
  
 The following issue limits and underwriting rules shall be applicable to reinsurance placed in effect under this Agreement. These limits and
rules shall be effective with respect to reinsurance which is placed in effect on or after the effective date of the Agreement or, if later, on or after the effective date of this Schedule. 
  
 The maximum amount of automatic reinsurance shall be the excess of these issue limits over
the REINSURED’S maximum limit of retention. 
  

	1.	Groups with fewer than 10 lives insured 

  

			
	 (a) Life:
	 	Maximum amount: $50,000, provided individual non-medical evidence of insurability is obtained. The amount in any class cannot exceed 2 1/2 times the amount in the next lower class.
		
	 (b) AD&D:
	 	Maximum amount: equal to life amount.

  

	2.	Groups of 10 through 34 lives insured 

  

			
	 (a) Life:
	 	Maximum amount: $50,000. The amount in any class cannot exceed 2 1/2 times the amount in the next lower class.
		
	 (b) AD&D:
	 	Maximum amount: equal to life amount.

  

	3.	Groups of 35 or more lives insured 

  

			
	 (a) Life:
	 	Maximum amount: the average amount per insured times the factor in column A, not to exceed the amount in column B of the following table. The amount in any class cannot exceed 2 1/2 times the amount in the next lower class. An additional $100,000 may be issued subject to individual Underwriting
rules of the REINSURED, provided that the total amount does not exceed $500,000.

  

						
	 Total Insurance on
 All Covered
Employees

	  	A
Average Insurance
Amount Factor

	  	B
Guaranteed Issue
Maximum

	 Under -   350,000
	  	6.0	  	$	60,000
	 350,000 - 499,000
	  	5.0	  	 	75,000
	 500,000 - 749,000
	  	5.0	  	 	100,000
	 750,000 - 999,999
	  	5 0	  	 	125,000
			
	 (continued next page)
	  	 	  	 	 

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC 

					
	 Total Insurance on
 All Covered
Employees

	  	A
Average Insurance
Amount Factor

	  	B
Guaranteed Issue
Maximum

	   1,000,000 -   1,499,000
	  	5.0	  	150,000
	   1,500,000 -   1,999,999
	  	5.0	  	175,000
	   2,000,000 -   3,499,999
	  	6.0	  	210,000
	   3,500,000 -   4,999,999
	  	7.0	  	245,000
	   5,000,000 -   6,999,999
	  	7.0	  	270,000
	   7,000,000 -   8,999,999
	  	8.0	  	300,000
	   9,000,000 - 11,999,999
	  	10.0	  	325,000
	 12,000,000 - 14,999,999
	  	10.5	  	350,000
	 15,000,000 - 19,999,999
	  	11.0	  	375,000
	 20,000,000 - 27,499,999
	  	11.5	  	400,000
	 27,500,000 - 34,999,999
	  	12.0	  	425,000
	 35,000,000 - 42,499,999
	  	12.5	  	450,000
	 42,500,000 - 49,999,999
	  	13.0	  	475,000
	 50,000,000 or more
	  	14.0	  	500,000

  
 (b) AD&D: Maximum
amount: the amount of life insurance. 
  
 (c) Supplemental Life:
provided at least 60% of eligible employees purchase such additional insurance and provided the amount of such additional insurance may be issued in amounts not to exceed two (2) times the amount of non-supplemental life insurance or such that
the total of supplemental and non-supplemental life insurance does not exceed the amount specified in 3(c), above. 
  
 (d) Supplemental AD&D: an amount not in excess of the supplemental life insurance specified in 3(c), above. 
  

	4.	The following are excluded from reinsurance under this Agreement unless the Company has given its approval in writing to inclusion under this Agreement. 

  
 (a) reinsurance in excess of $25,000 on any retired employee age 65 or
older. 
  
 (b) accidental death and dismemberment insurance
issued to groups which include any of the following: 
  
 (i)
aircraft crews or personnel 
  
 (ii) members of professional
sports teams 
  
 (iii) residents of countries other than the
United States and Canada 
  
 (iv) employees in underground mining

  
 (v) employees in manufacture of explosives or ammunition

  
 (vi) employees in off-shore oil drilling 
  
 (c) disability benefits providing coverage for disabilities beginning on or
after the day the insured becomes 60 years of age. 
  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 

 SCHEDULE C 
  
 RETENTION LIMITS AND REINSURANCE SCHEDULE 
  
 Retention Limits of The Company 
  
 Group Life - 100% of the first $75,000 
  
 Amounts Ceded to The Reinsurer 
  
 Group Life - 100% in excess of $75,000 up to the maximums stated in Schedule B. 
  

The Company will reinsure and The Reinsurer will accept all excess underwritten amounts to a maximum of $500,000. 
  
 The Reinsurer will continue to reinsure on an excess basis those amounts reduced due to age.

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 

 SCHEDULE D 
 GROUP LIFE RATE TABLE 
 CONNECTICUT GENERAL LIFE INSURANCE COMPANY 
 EXCESS GROUP LIFE REINSURANCE 
  
 Premium Rates per Month 
 (Includes Waiver of
Premium) 
 Female Rate = 50% of Male Rate 
  

				
	 Attained Age

	  	Rate/$1,000/Month

	15	  	$	0.12
	16	  	 	0.12
	17	  	 	0.12
	18	  	 	0.12
	19	  	 	0.12
	20	  	 	0.11
	21	  	 	0.11
	22	  	 	0.08
	23	  	 	0.08
	24	  	 	0.08
	25	  	 	0.08
	26	  	 	0.07
	27	  	 	0.07
	28	  	 	0.07
	29	  	 	0.07
	30	  	 	0.07
	31	  	 	0.07
	32	  	 	0.07
	33	  	 	0.07
	34	  	 	0.08
	35	  	 	0.08
	36	  	 	0.08
	37	  	 	0.09
	38	  	 	0.11
	39	  	 	0.11
	40	  	 	0.12
	41	  	 	0.13
	42	  	 	0.15
	43	  	 	0.17
	44	  	 	0.19
	45	  	 	0.20
	46	  	 	0.23
	47	  	 	0.25
	48	  	 	0.29
	49	  	 	0.32
	50	  	 	0.36
	51	  	$	0.40
	52	  	 	0.45
	53	  	 	0.49
	54	  	 	0.55
	55	  	 	0.63
	56	  	 	0.68
	57	  	 	0.79
	58	  	 	1.00
	59	  	 	1.08
	60	  	 	1.17
	61	  	 	1.27
	62	  	 	1.39
	63	  	 	1.49
	64	  	 	1.63
	65	  	 	1.76
	66	  	 	1.92
	67	  	 	2.09
	68	  	 	2.28
	69	  	 	2.49
	70	  	 	2.71
	71	  	 	2.95
	72	  	 	3.19
	73	  	 	3.44
	74	  	 	3.71
	75	  	 	4.00
	76	  	 	4.31
	77	  	 	4.67
	78	  	 	5.07
	79	  	 	5.51
	80	  	 	5.99

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 

 SCHEDULE E 
  
 GROUP LIFE PREMIUM DISCOUNT TABLE 
  

										
	 	less than $1,000	  	 	 	  	0	%
	$	1,000	  	but less than	  	$	2,000	  	1	%
	$	2,000	  	but less than	  	$	3,000	  	2	%
	$	3,000	  	but less than	  	$	4,000	  	3	%
	$	4,000	  	but less than	  	$	5,000	  	4	%
	$	5,000	  	but less than	  	$	6,000	  	5	%
	$	6,000	  	but less than	  	$	7,000	  	6	%
	$	7,000	  	but less than	  	$	8,000	  	7	%
	$	8,000	  	but less than	  	$	9,000	  	8	%
	$	9,000	  	but less than	  	$	10,000	  	9	%
	$	10,000	  	but less than	  	$	11.000	  	10	%
	$	11,000	  	but less than	  	$	13,000	  	11	%
	$	13,000	  	but less than	  	$	15,000	  	12	%
	$	15,000	  	but less than	  	$	17,000	  	13	%
	$	17,000	  	but less than	  	$	19,000	  	14	%
	$	19,000	  	but less than	  	$	21,000	  	15	%
	$	21,000	  	but less than	  	$	23,000	  	16	%
	$	23,000	  	but less than	  	$	25,000	  	17	%
	$	25,000	  	but less than	  	$	27,000	  	18	%
	$	27,000	  	but less than	  	$	29,000	  	19	%
	$	29,000	  	and Over	  	 	 	  	20	%

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 

 SCHEDULE F 
  
 ACCELERATED DEATH BENEFIT 
  

	*	To be determined and mutually agreed to between the Company and the Reinsurer. 

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 

 SCHEDULE G 
  
 YRT RATES, CONVERTED POLICIES 
  
 Yearly Renewable Term Reinsurance Premium Per $1,000 at Risk 
  

			
	 Age

	  	Rate Per Unit

	 10
	  	4.57
	 11
	  	4.78
	 12
	  	5.00
	 13
	  	5.23
	 14
	  	5.46
	 15
	  	5.68
	 16
	  	5.90
	 17
	  	6.12
	 18
	  	6.35
	 19
	  	6.59
	 20
	  	6.84
	 21
	  	7.11
	 22
	  	7.39
	 23
	  	7.70
	 24
	  	8.02
	 25
	  	8.38
	 26
	  	8.76
	 27
	  	9.16
	 28
	  	9.60
	 29
	  	10.06
	 30
	  	10.55
	 31
	  	11.08
	 32
	  	11.64
	 33
	  	12.23
	 34
	  	12.86
	 35
	  	13.52
	 36
	  	14.23
	 37
	  	14.98
	 38
	  	15.77
	 39
	  	16.60
	 40
	  	17.48
	 41
	  	18.41
	 42
	  	19.40
	 43
	  	20.43
	 44
	  	21.53
	 45
	  	22.68
	 46
	  	23.91
	 47
	  	25.20
	 48
	  	26.58
	 49
	  	28.03
	 50
	  	29.58
	 51
	  	31.23
	 52
	  	32.97
	 53
	  	34.81
	 54
	  	36.76
	 55
	  	38.82
	 56
	  	40.99
	 57
	  	43.31
	 58
	  	45.76
	 59
	  	48.38
	 60
	  	51.17
	 61
	  	54.14
	 62
	  	57.30
	 63
	  	60.64
	 64
	  	64.17
	 65
	  	67.90
	 66
	  	71.85
	 67
	  	76.04
	 68
	  	80.51
	 69
	  	85.30
	 70
	  	90.42
	 71
	  	95.89
	 72
	  	101.69
	 73
	  	107.80
	 74
	  	114.21
	 75
	  	120.85
	 76
	  	127.76
	 77
	  	134.98
	 78
	  	142.60
	 79
	  	150.71

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 

 SCHEDULE H 
  
 CONVERSION CHARGES 
  
 $170.00 per $1,000 of risk amount. 
  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 

 SCHEDULE I 
  
 EXPERIENCE REFUND 
  
 Annual Non Pooled* Reinsurance Premiums 
 (7/1 - 6/30) 
  
 Less 
  

	 	•	 	Incurred non pooled* claims (including waiver of premium at 75% of reinsured amount) 

  

	 	•	 	8% expense and risk charge 

 (applied to non-pooled reinsurance premium) 
  

	 	•	 	Loss carry forward (if any) not to exceed three (3) years 

  
 Equals 
 Distributable Balance

  
 90% of any Distributable Balance will be paid to the
Company 90 days 
 following the end of the Experience Refund Period (10/1) 
  
 *Claims and premiums on risk excess $100,000 reinsured per person will be
pooled and not be included in the Profit Commission calculation. 
  

 D.W. VAN DYKE and COMPANY of CONNECTICUT, INC. 

 EXHIBIT I 
  
 SAMPLE POLICY AND CERTIFICATE 

 AMENDMENT NO. 1 
  
 to the 
  
 GROUP LIFE 
  
 REINSURANCE AGREEMENT NO. 900108 
  
 between 
  
 EDUCATORS
MUTUAL LIFE INSURANCE COMPANY 
 Lancaster, Pennsylvania 
  
 (hereinafter referred to in this Agreement as the “Company”) 
  
 and 
  
 CONNECTICUT GENERAL LIFE INSURANCE COMPANY 
 Hartford, Connecticut 
  
 (hereinafter referred to in this Agreement as the “Reinsurer”) 
  
 It is hereby understood and mutually agreed that, effective July 1, 1995, SCHEDULE F shall be amended as follows and not as heretofore: 
  
 SCHEDULE F -ACCELERATED DEATH BENEFITS 
  
 The Accelerated Death Benefit will be reinsured in the same proportion as the existing life
reinsurance in effect at the time that an Accelerated Death Benefit claim has been approved. 
  
 All other terms and conditions of this Agreement shall remain unchanged. 
  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be signed by their duly authorized
representatives. 
  
 Signed in 
  
 this 18 day of March, 1998 
  
 EDUCATORS MUTUAL LIFE INSURANCE COMPANY 
  

			
		
	By:	 	

	Title:	 	VP & Corp Actuary

  
 Signed in 

	this	3rd day of April, 1998 

 
 CONNECTICUT GENERAL LIFE INSURANCE COMPANY 
  

			
		
	By:	 	

	Title:	 	Assistant Director

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 

 AMENDMENT NO. 2 
  
 to 
  
 GROUP LIFE REINSURANCE AGREEMENT 
 NO.
900108 
  
 between 
  
 EDUCATORS MUTUAL LIFE INSURANCE COMPANY 
 Lancaster, Pennsylvania 
 (hereinafter
referred to as the “Company”) 
  
 and

  
 CONNECTICUT GENERAL LIFE INSURANCE COMPANY

 Hartford, Connecticut 
 (hereinafter referred to as the “Reinsurer”) 
  
 IT
IS HEREBY UNDERSTOOD AND AGREED that, effective March 15, 2000, 12:01 a.m. “Local” Standard Time, Schedules A and B are hereby deleted and replaced with the following: 
  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 

 SCHEDULE A 
  
 CERTIFICATE OF FACULTATIVE REINSURANCE        
No.                     
  
 CONNECTICUT GENERAL LIFE INSURANCE COMPANY 
  
 In consideration of the payment of the premium and subject to the terms hereon and the general conditions set forth in the Reinsurance Agreement for Group Insurance to
which this certificate is attached, does hereby reinsure: 
  
 Ceding Company name
and address (herein called The Company): 
  

			
	 Name of Insured Group

	 	 City, State

  
  

									
	 Company
 Policy
 Number

	  	 Reinsurers Certificate Period

	  	 Prior Certificate Number

	 	  	 From

	  	 To

	  	 Renewal of

	  	 Replace

	 	  	 	  	 	  	 	  	 

  

	
	
	Type of Insurance
	
	Group Term Life Insurance
	
	Underwriting Guideline

  

					
	 Policy Provisions

	 	 Company Retention

	 	 Reinsurance Accepted

  
  

							
	Premium Rates

	Coverage

	 	Payable

	 	Rates

	 	Allowances

				
	 	 	Monthly	 	 	 	N/A

  
 IN WITNESS WHEREOF this
certificate is signed on the date indicated at the Home Office of Connecticut General Life Insurance Company. 
  

									
					
	Date:	 	 	 	 	 	By:	 	 

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 24 

 SCHEDULE B 
  
 ISSUE LIMITS AND UNDERWRITING RULES 
  
 The following issue limits and underwriting rules shall be applicable to reinsurance placed in effect under this Agreement. These limits and
rules shall be effective with respect to reinsurance which is placed in effect on or after the effective date of the Agreement or, if later, on or after the effective date of this Schedule. 
  
 The maximum amount of automatic reinsurance shall be the excess of these issue limits over
the REINSURED’S maximum limit of retention. 
  

	1.	Groups with fewer than 10 lives insured 

 Maximum
amount: $50,000. The amount in any class cannot exceed 2 1/2 times the amount in the next lower class.

  

	2.	Groups of 10 through 34 lives insured 

 Maximum
amount: $50,000. The amount in any class cannot exceed 2 1/2 times the amount in the next lower class.

  

	3.	Groups of 35 or more lives insured 

  

			
	 (a) Life:
	  	Maximum amount: as shown in the following table. The amount in any class cannot exceed 2 1/2 times the amount in the next lower class. An additional $100,000 may be issued subject to individual Underwriting rules of the REINSURED, provided that the total amount does not exceed
$500,000.

  

				
	 Total Insurance on
 All Covered
Employees

	  	Guaranteed Issue
Maximum

		
	 Under -   349,999
	  	$	60,000
	 350,000 - 499,999
	  	 	75,000
	 500,000 - 749,999
	  	 	100,000
	 750,000 - 999,999
	  	 	125,000

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 25 

			
	 Total Insurance on
 All Covered
Employees

	  	Guaranteed Issue
Maximum

	   1,000,000 -   1,499,000
	  	150,000
	   1,500,000 -   1,999,999
	  	175,000
	   2,000,000 -   3,499,999
	  	210,000
	   3,500,000 -   4,999,999
	  	245,000
	   5,000,000 -   6,999,999
	  	270,000
	   7,000,000 -   8,999,999
	  	300,000
	   9,000,000 - 11,999,999
	  	325,000
	 12,000,000 - 14,999,999
	  	350,000
	 15,000,000 - 19,999,999
	  	375,000
	 20,000,000 - 27,499,999
	  	400,000
	 27,500,000 - 34,999,999
	  	425,000
	 35,000,000 - 42,499,999
	  	450,000
	 42,500,000 - 49,999,999
	  	475,000
	 50,000,000 or more
	  	500,000

  

	 	(b)	Supplemental Life: provided at least 50% of eligible employees purchase such additional insurance and provided the amount of such additional insurance may be issued in amounts not
to exceed two (2) times the amount of non-supplemental life insurance or such that the total of supplemental and non-supplemental life insurance does not exceed the amount specified in 3(a) above. 

  

	4.	The following are excluded from reinsurance under this Agreement unless the Company has given its approval in writing to inclusion under this Agreement. 

  

	 	(a)	reinsurance in excess of $25,000 on any retired employee age 65 or older. 

  

	 	(b)	disability benefits providing coverage for disabilities beginning on or after the day the insured becomes 60 years of age. 

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 26 

 All other terms and conditions remain the same. 
  
 IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 2 to be executed by their duly authorized representatives.

  
 Signed for and on behalf of EDUCATORS MUTUAL LIFE INSURANCE COMPANY

  
 In Lancaster PA this 1 day of June, 2000.

  

			
		
	By:	 	

	 Title:
	 	VP & Corporate Actuary

  
 Signed for and on behalf of
CONNECTICUT GENERAL LIFE INSURANCE COMPANY 
  
 In Bloomfield, CT
this 2nd day of August, 2000. 
  

			
		
	 By:
	 	

	 Title:
	 	AVP

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 27 

 AMENDMENT NO. 3 
  
 to 
  
 GROUP LIFE REINSURANCE AGREEMENT 
 NO.
900108 
  
 between 
  
 EDUCATORS MUTUAL LIFE INSURANCE COMPANY 
 Lancaster, Pennsylvania 
 (hereinafter
referred to as the “Company”) 
  
 and

  
 CONNECTICUT GENERAL LIFE INSURANCE COMPANY

 Hartford, Connecticut 
 (hereinafter referred to as the “Reinsurer”) 
  
 IT
IS HEREBY UNDERSTOOD AND AGREED that, effective July 1, 2000, 12:01 a.m. “Local” Standard Time, Schedule B is hereby deleted and replaced with the following: 
  

 D.W. VAN DYKE and COMPANY of CONNECTICUT, INC. 

 SCHEDULE B 
  
 ISSUE LIMITS AND UNDERWRITING RULES 
  
 The following issue limits and underwriting rules shall be applicable to all inforce, new and renewal business covered under this Agreement.

  
 The maximum amount of automatic reinsurance shall be the excess of these issue
limits over the Reinsured’s maximum limit of retention. 
  

	1.	Groups with 2-9 lives insured 

 Guarantee Issue
Maximum Amount - $50,000. 
 An additional $50,000 may be issued subject to individual underwriting rules of the Reinsured. 
  

	2.	Groups with 10-19 lives insured 

 Guarantee Issue
Maximum Amount - $50,000. 
 An additional $100,000 may be issued subject to individual underwriting rules of the Reinsured. 
  

	3.	Groups with 20 or more lives insured 

  

	 	(a)	Guarantee Issue Maximum amount as shown in the following table. An additional $100,000 may be issued subject to individual underwriting rules of the Reinsured, provided the total
amount does not exceed $500,000. 

  

				
	 Total Insurance on
 All Covered
Employees

	  	 Guarantee
 Issue Maximum

	 Under 350,000
	  	$	60,000
	      350,000 -      499,999
	  	 	75,000
	      500,000 -      749,999
	  	 	100,000
	      750,000 -      999,999
	  	 	125,000
	   1,000,000 -   1,499,999
	  	 	150,000
	   1 500,000 -   1,999,999
	  	 	175,000
	   2,000,000 -   3,499,999
	  	 	210,000
	   3,500,000 -   4,999,999
	  	 	245,000
	   5,000,000 -   6,999,999
	  	 	270,000
	   7,000,000 -   8,999,999
	  	 	300,000
	   9,000,000 - 11,999,999
	  	 	325,000
	 12,000,000 - 14,999,999
	  	 	350,000
	 15,000,000 - 19,999,999
	  	 	375,000
	 20,000,000 - 27,499,999
	  	 	400,000
	 27,500,000 - 34,999,999
	  	 	425,000
	 35,000,000 - 42,499,999
	  	 	450,000
	 42,500,000 - 49,999,999
	  	 	475,000
	 50,000,000 or more
	  	 	500,000

  

 D.W. VAN DYKE and COMPANY of CONNECTICUT, INC. 

	 	(b)	Supplemental Life may be issued in amounts not to exceed two (2) times the amount of non-supplemental life insurance or such that the total of supplemental and non-supplemental
life insurance does not exceed the amount specified in 3(a) above. 

  

	4.	The following are excluded from reinsurance under this Agreement unless the Company has given its approval in writing to inclusion under this Agreement. 

  

	 	(a)	reinsurance in excess of $25,000 on any retired employee age 65 or older. 

  

	 	(b)	disability benefits providing coverage for disabilities beginning on or after the day the insured becomes 60 years of age. 

  
 All other terms and conditions remain the same. 
  
 IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 3 to be
executed by their duly authorized representatives. 
  
 Signed for and on behalf of
EDUCATORS MUTUAL LIFE INSURANCE COMPANY 
  

			
	 In
	 	Lancaster PA this 27 day of Feb, 2001.
		
	 By:
	 	

	 Title:
	 	VP & Corporate Actuary

  
 Signed for and on behalf of
CONNECTICUT GENERAL LIFE INSURANCE COMPANY 
  

			
	 In
	 	Armonk NY this 12 day of Feb, 2001
		
	 By:
	 	

	 Title:
	 	Group Life Officer

  

 D.W. VAN DYKE and COMPANY of CONNECTICUT, INC. 

 AMENDMENT NO. 4 
  
 to 
  
 GROUP LIFE REINSURANCE AGREEMENT 
 DWVD NO. 900108 
  
 between 
  
 EDUCATORS MUTUAL LIFE INSURANCE COMPANY 
 (hereinafter referred to as the “Company”) 
  
 and 
  
 SWISS RE LIFE AND HEALTH AMERICA INC. 
 (hereinafter referred to as the
“Reinsurer”) 
  
 IT IS HEREBY UNDERSTOOD AND AGREED that,
effective July 1, 2001, 12:01 a.m., “Local” Standard Time, the above-captioned Agreement is revised as follows: 
  

	i)	ARTICLE IV, REINSURANCE PREMIUMS (sub-item number 1) - is deleted in its entirety and replaced with the following: 

  
 1. Group Life (Including Premium Waiver). The Company shall pay to
the Reinsurer a monthly reinsurance premium calculated at the following rate: 
  

				
	 Applicable Time Frame

	  	 Rate Per
 Thousand

		
	July 1, 2001 through June 30, 2002	  	$	0.24

  
 Furthermore, it is
understood and agreed that Schedule D attached hereto, is the rate table utilized to determine the above-captioned rate and, as such, shall be made a part of this Agreement for informational purposes only. 
  
 Rates for Group cases reinsured on a facultative basis, as explained in
Article I, Paragraph 2, Facultative Reinsurance, will be reinsured according to the rates applicable to automatic reinsurance, unless the Company and the Reinsurer mutually agree to do otherwise. 
  

 D.W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 1 

	ii)	ARTICLE IX, CONVERSIONS FROM GROUP LIFE TO ORDINARY POLICIES – is deleted in its entirety and replaced with the following: 

  

	 	1.	If any life insured under a policy written directly by the Company converts its Group Life insurance to a regular form of permanent Ordinary insurance in accordance with the rules
and conditions of the Group Life insurance policy under which it is included, will convert to a Reassure America Life Insurance Company ordinary policy. Reassure America Life Insurance Company will have 100% of the Conversion Liability under these
policies at the rates contained in Schedule G. 

  
 The Company will remit conversion charges to Reassure America Life Insurance Company based on the rates contained in Schedule H. 
  

	iii)	SCHEDULE D, GROUP LIFE RATE TABLE – is hereby deleted in its entirety and replaced with SCHEDULE D attached hereto. 

  

	iv)	SCHEDULE E, GROUP LIFE PREMIUM DISCOUNT TABLE – is deleted in its entirety. 

  

	v)	SCHEDULE G, YRT RATES, CONVERTED POLICIES – is hereby deleted in its entirety and replaced with SCHEDULE G attached hereto. 

  

	vi)	SCHEDULE H, CONVERSION CHARGES – is hereby deleted in its entirety and replaced with SCHEDULE H attached hereto. 

  
 All other terms and conditions remain the same. 
  
 IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 4 to be
executed by their duly authorized representatives. 
  
 Signed for and on behalf
of: EDUCATORS MUTUAL LIFE INSURANCE COMPANY 
  

			
	In:	 	 Lancaster PA this 15 day of October, 2001

		
	 By:
	 	

	 Title:
	 	VP & Corp Actuary

  
 Signed for and on behalf of: SWISS
RE LIFE AND HEALTH AMERICA INC. 
  

			
	In:	 	 Armonk, NY this 4 day of September, 2001

		
	 By:
	 	

	 Title:
	 	Group Life Officer

  

 D.W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 2 

 SCHEDULE D 
  

GROUP LIFE RATE TABLE 
 EXCESS GROUP LIFE REINSURANCE 
  
 Premium
Rates Per Month, Per $1,000 
 (includes Waiver of Premium) 
  

															
	 Attained
 Age

	 	 Rate/$1,000
 Per Month

	 	Attained
Age

	 	 Rate/$1,000
 Per Month

	 	Attained
Age

	 	 Rate/$1,000
 Per Month

	 	Attained
Age

	 	 Rate/$1,000
 Per Month

	18	 	0.05	 	38	 	0.08	 	58	 	0.54	 	78	 	3.93
	19	 	0.05	 	39	 	0.09	 	59	 	0.60	 	79	 	4.27
	20	 	0.06	 	40	 	0.09	 	60	 	0.67	 	80	 	4.62
	21	 	0.06	 	41	 	0.11	 	61	 	0.74	 	81	 	4.99
	22	 	0.06	 	42	 	0.12	 	62	 	0.83	 	82	 	5.38
	23	 	0.06	 	43	 	0.13	 	63	 	0.92	 	83	 	5.79
	24	 	0.06	 	44	 	0.15	 	64	 	1.02	 	84	 	6.18
	25	 	0.05	 	45	 	0.17	 	65	 	1.13	 	85	 	6.51
	26	 	0.05	 	46	 	0.19	 	66	 	1.26	 	86	 	6.74
	27	 	0.05	 	47	 	0.20	 	67	 	1.40	 	87	 	6.84
	28	 	0.05	 	48	 	0.22	 	68	 	1.55	 	88	 	6.85
	29	 	0.05	 	49	 	0.25	 	69	 	1.73	 	89	 	7.00
	30	 	0.05	 	50	 	0.27	 	70	 	1.90	 	90	 	7.64
	31	 	0.05	 	51	 	0.29	 	71	 	2.10	 	91	 	9.09
	32	 	0.05	 	52	 	0.32	 	72	 	2.31	 	92	 	11.68
	33	 	0.06	 	53	 	0.34	 	73	 	2.54	 	93	 	15.58
	34	 	0.06	 	54	 	0.37	 	74	 	2.78	 	94	 	20.34
	35	 	0.06	 	55	 	0.41	 	75	 	3.05	 	95	 	25.38
	36	 	0.06	 	56	 	0.45	 	76	 	3.32	 	96	 	30.11
	37	 	0.07	 	57	 	0.49	 	77	 	3.62	 	97	 	33.92

  
 Use of Rate Scale for Inforce
Business 
  

								
	 I.       For the first one million dollars ($1,00,000) of Group Life Reinsurance on any one
life:

	 a.      Active Male Lives:
	  	Use	  	100	%	 	of the above rates.
				
	 b.      Active Female Lives
	  	Use	  	50	%	 	of the above rates.
				
	 c.      Retired Lives:
 for female retired lives
	  	Use
Use	  	196
98	%
%	 	 of the above rates for male retired lives.
 of the
above rates.

	
	 II.     For the portion of Group Life Reinsurance in excess of one million dollars ($1,000,000) on any
one person:

	 	  	Use	  	147	%	 	of the above rates for male lives and
	 	  	 	  	74	%	 	for female lives.

  
 Separate premium reporting for the
portion of Group Life Reinsurance amounts in excess of one million dollars ($1,000,000) is required. 
  

 D.W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 3 

 SCHEDULE G 
  

YRT RATES, CONVERTED POLICIES 
  
 Table of Rates per $1,000 Unit of Insurance 
  

			
	 Issue Age

	  	Rate Per Unit

	  0	  	3.66
	  1	  	3.50
	  2	  	3.59
	  3	  	3.70
	  4	  	3.81
	  5	  	3.93
	  6	  	4.06
	  7	  	4.20
	  8	  	4.35
	  9	  	4.51
	10	  	4.67
	11	  	4.85
	12	  	5.03
	13	  	5.23
	14	  	5.43
	15	  	5.64
	16	  	5.85
	17	  	6.08
	18	  	6.31
	19	  	6.56
	20	  	6.81
	21	  	7.08
	22	  	7.36
	23	  	7.66
	24	  	7.97
	25	  	8.30
	26	  	8.65
	27	  	9.02
	28	  	9.41
	29	  	9.82
	30	  	10.26
	31	  	10.73
	32	  	11.22
	33	  	11.74
	34	  	12.29
	35	  	12.87
	36	  	13.49
	37	  	14.15
	38	  	14.85
	39	  	15.58
	40	  	16.36
	41	  	17.18
	42	  	18.05
	43	  	18.96
	44	  	19.93
	45	  	20.95
	46	  	22.03
	47	  	23.18
	48	  	24.39
	49	  	25.67
	50	  	27.03
	51	  	28.47
	52	  	29.99
	53	  	31.60
	54	  	33.31
	55	  	35.13
	56	  	37.05
	57	  	39.09
	58	  	41.26
	59	  	43.56
	60	  	46.01
	61	  	48.60
	62	  	51.36
	63	  	54.29
	64	  	57.40
	65	  	60.71
	66	  	64.22
	67	  	67.95
	68	  	71.89
	69	  	76.04
	70	  	80.42
	71	  	85.04
	72	  	89.82
	73	  	95.10
	74	  	100.65
	75	  	106.60
	76	  	113.16
	77	  	120.49
	78	  	128.36
	79	  	136.84
	80	  	145.99

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 4 

 SCHEDULE H 
  

CONVERSION CHARGES 
  

				
	 Age

	  	Charge Per $1,000

	 Less than 35
	  	$	50
	 35-44
	  	$	70
	 45-54
	  	$	130
	 55 and older
	  	$	240

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 5 

 AMENDMENT NO. 5 
  
 to 
  
 GROUP LIFE REINSURANCE AGREEMENT 
 DWVD NO. 900108 
  
 between 
  
 EDUCATORS MUTUAL LIFE INSURANCE COMPANY 
 (hereinafter referred to as the “Company”) 
  
 and 
  
 SWISS RE LIFE AND HEALTH AMERICA INC. 
 (hereinafter referred to as the
“Reinsurer”) 
  
 IT IS HEREBY UNDERSTOOD AND AGREED that,
effective March 1, 2002, 12:01 a.m., “Local” Standard Time, the above-captioned Agreement shall be amended as follows: 
  

	i)	SCHEDULE B, ISSUE LIMITS AND UNDERWRITING RULES – is hereby deleted in its entirely and replaced with SCHEDULE B attached hereto. 

  

	ii)	SCHEDULE C, RETENTION LIMITS AND REINSURANCE SCHEDULE – is hereby deleted in its entirety and replaced with SCHEDULE C attached hereto. 

  
 All other terms and conditions remain the same. 
  
 IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 5 to be
executed by their duly authorized representatives. 
  
 Signed for and on behalf
of: EDUCATORS MUTUAL LIFE INSURANCE COMPANY 
  
 In: Lancaster, PA
this 21 day of March, 2002 
  

			
		
	 By:
	 	

	 Title:
	 	Vice President & Corporate Secretary

  
 Signed for and on behalf of: SWISS
RE LIFE AND HEALTH AMERICA INC. 
  
 In: Armonk NY this 16 day of April, 2002 
  

			
		
	 By:
	 	

	 Title:
	 	AVP

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 1 

 SCHEDULE B 
  
 ISSUE LIMITS AND UNDERWRITING RULES 
  
 The following issue limits and underwriting rules shall be applicable to all inforce, new and renewal business covered under this Agreement.

  
 The maximum amount of automatic reinsurance shall be the excess of these issue
limits over the Reinsured’s maximum limit of retention. 
  

	1.	Groups with 2-9 lives insured 

	 	Guarantee Issue Maximum Amount - $50,000. 

	 	An additional $50,000 may be issued subject to individual underwriting rules of the Reinsured. 

  

	2.	Groups with 10-19 lives insured 

	 	Guarantee Issue Maximum Amount - $50,000. 

	 	An additional $100,000 may be issued subject to individual underwriting rules of the Reinsured. 

  

	3.	Groups with 20 or more lives insured 

  

	 	(a)	Guarantee Issue Maximum amount as shown in the following table. An additional $100,000 may be issued subject to individual underwriting rules of the Reinsured, provided the total
amount plus any supplement life (3.b) does not exceed $700,000. 

  

				
	 Total Insurance on
 All Covered
Employees

	  	 Guarantee
 Issue Maximum

	 Under 350,000
	  	$	60,000
	      350,000 -      499,999
	  	 	75,000
	      500,000 -      749,999
	  	 	100,000
	      750,000 -      999,999
	  	 	125,000
	   1,000,000 -   1,499,999
	  	 	150,000
	   1,500,000 -   1,999,999
	  	 	175,000
	   2,000,000 -   3,499,999
	  	 	210,000
	   3,500,000 -   4,999,999
	  	 	245,000
	   5,000,000 -   6,999,999
	  	 	270,000
	   7,000,000 -   8,999,999
	  	 	300,000
	   9,000,000 - 11,999,999
	  	 	325,000
	 12,000,000 - 14,999,999
	  	 	350,000
	 15,000,000 - 19,999,999
	  	 	375,000
	 20,000,000 - 27,499,999
	  	 	400,000
	 27,500,000 - 34,999,999
	  	 	425,000
	 35,000,000 - 42,499,999
	  	 	450,000
	 42,500,000 - 49,999,999
	  	 	475,000
	 50,000,000 or more
	  	 	500,000

  

 D.W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 2 

	 	(b)	Supplemental Life 

  

	 	1.	(i) Guaranteed Issue Maximum as shown in the following table: 

  

				
	 Number of Eligible Lives

	  	Guaranteed Issue Amount

	 <25
	  	$	0
	 25 – 50
	  	$	30,000
	 51 – 75
	  	$	50,000
	 76 – 100
	  	$	75,000
	 100 +
	  	$	100,000

  

	 	 	(ii) Guaranteed Issue Maximum for spouse benefit shall be $20,000. 

  

	 	2.	An additional $100,000 may be issued subject to individual underwriting rules of the Reinsured provided the total supplemental life amount does not exceed $200,000 or the amount
specific in 3(a) above. 

  

	4.	The following are excluded from reinsurance under this Agreement unless the Company has given its approval in writing to inclusion under this Agreement. 

  

	 	(a)	reinsurance in excess of $25,000 on any retired employee age 65 or older. 

  

	 	(b)	disability benefits providing coverage for disabilities beginning on or after the day the insured becomes 60 years of age. 

  

 D.W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 3 

 SCHEDULE C 
  
 RETENTION LIMITS AND REINSURANCE SCHEDULE 
  
 Retention Limits of the Company 
  
 Group Life – 100% of the first $75,000. 
  
 Amounts Ceded to the Reinsurer 
  
 Group Life – 100% in excess of $75,000 up to the maximums stated in Schedule B. 
  
 The Company will reinsure and the Reinsurer will accept all excess underwritten amounts to a maximum of $700,000. 
  
 The Reinsurer will continue to reinsure on an excess basis those amounts reduced due to age.

  

 D.W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 4 

 ADDENDUM NO. 6 
  
 to 
  
 GROUP LIFE REINSURANCE AGREEMENT 
 DWVD NO. 900108 
  
 between 
  
 EDUCATORS MUTUAL LIFE INSURANCE COMPANY 
 Lancaster, Pennsylvania 
 (hereinafter
referred to as the “Company”) 
  
 and

  
 SWISS RE LIFE & HEALTH AMERICA INC.

 Armonk, New York 
 (hereinafter referred to as the “Reinsurer”) 
  
 IT
IS HEREBY UNDERSTOOD AND AGREED that, effective 12:01 a.m., “Local” Standard Time, July 1, 2002, Article IV – Reinsurance Premiums, is hereby deleted in its entirety and replaced with the following: 
  

	 	I.	ARTICLE IV, REINSURANCE PREMIUMS – is deleted in its entirety and replaced with the following: 

  

	 	1.	Group Life (Including Premium Waiver). The Company shall pay to the Reinsurer a monthly reinsurance premium calculated at the following rate: 

  

				
	 Applicable Time Frame

	  	Rate Per Thousand

	 July 1, 2002 through June 30, 2004
	  	$	0.24

  
 Schedule D - Group
Life Rate Table (as amended by Amendment No. 4) is the rate table utilized to determine the above-captioned rate and, as such, shall be made a part of this Agreement for informational purposes only. 
  
 Rates for Group cases reinsured on a facultative basis, as explained in
Article I, Paragraph 2, Facultative Reinsurance, will be reinsured according to the rates applicable to automatic reinsurance, unless the Company and the Reinsurer mutually agree to do otherwise. 
  

	 	2.	Payment. Premiums will be paid by the Company to the Reinsurer according to the same mode by which premiums for each reinsured Group case are paid to the Company, either
annually or semi-annually, quarterly or monthly. Changes in any insured group will be sent to the Reinsurer, along with the corresponding premium adjustments. The Reinsurer will accept any of the usual approximate methods of interim adjustment used
between the Company and its policyholder. 

  

 D.W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 1 

	 	3.	Failure to Pay. Except as provided in Article V, General Provisions, the payment of reinsurance premiums will be a condition precedent to the liability of the Reinsurer under
reinsurance covered by this Agreement. In the event of non-payment of reinsurance premiums, as provided in the preceding paragraphs, the Reinsurer will have the right to terminate the reinsurance under all policies having reinsurance premiums in
arrears and will also reserve the right to require that interest be paid, calculated according to an annual rate of 6%, on all premiums more than ninety (90) days in arrears. If the Reinsurer elects to exercise its right of termination, it will
give the Company thirty (30) days notice of its intention to terminate the reinsurance. If all reinsurance premiums are in arrears, including any which may become in arrears during the thirty (30) day period, are not paid before the
expiration of the period, the Reinsurer will be relieved of future liability under all policies of reinsurance under which reinsurance premiums remain unpaid. The reinsurance terminated may be reinstated at any time within sixty (60) days of
the date of termination upon payment of all reinsurance premium in arrears, but if reinstatement is made the Reinsurer will have no liability in connection with any claims incurred between the date of termination and the date of reinstatement of the
reinsurance. The Reinsurer’s right to terminate reinsurance will be without prejudice to its right to collect premiums for the period reinsurance was in force prior to the expiration of the thirty (30) day notice period.

  

	 	II.	SCHEDULE B, ISSUE LIMITS AND UNDERWRITING RULES is hereby deleted in its entirety and replaced with SCHEDULE B attached hereto. 

  
 All other terms and conditions remain the same. 
  
 IN WITNESS WHEREOF, the parties hereto have caused this Addendum to be executed by
their duly authorized representatives. 
  
 Signed
for and on behalf of: EDUCATORS MUTUAL LIFE INSURANCE COMPANY 
  
 In: Lancaster, PA this 13 day of November, 2002 
  

			
		
	By:	 	

	Title:	 	Vice President & Corporate Secretary

  
 Signed for and on behalf of: SWISS RE LIFE AND HEALTH AMERICA INC. 
  
 In: Armonk NY this 15 day of October, 2002 
  

			
		
	By:	 	

	Title:	 	Assistant Vice President

  

 D.W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 2 

 SCHEDULE B 
  
 ISSUE LIMITS AND UNDERWRITING RULES 
  
 The following issue limits and underwriting rules shall be applicable to all in force, new and renewal business covered under this
Agreement. 
  
 The maximum amount of automatic reinsurance shall be the excess of
these issue limits over the Company’s maximum limit of retention. 
  

	1.	Groups with 2-9 lives insured 

 Guarantee Issue
Maximum Amount is fifty thousand dollars ($50,000). 
  

	2.	Groups with 10-19 lives insured 

 Guarantee Issue
Maximum Amount is fifty thousand dollars ($50,000). 
  

	3.	Groups with 20 or more lives insured 

  

	 	(a)	Guarantee Issue Maximum amounts as shown in the following table. 

  

				
	 Total Insurance on
 All Covered
Employees

	  	 Guarantee
 Issue Maximum

	 Under 350,000
	  	$	60,000
	      350,000 -      499,999
	  	 	75,000
	      500,000 -      749,999
	  	 	100,000
	      750,000 -      999,999
	  	 	125,000
	   1,000,000 -   1,499,999
	  	 	150,000
	   1 500,000 -   1,999,999
	  	 	175,000
	   2,000,000 -   3,499,999
	  	 	210,000
	   3,500,000 -   4,999,999
	  	 	245,000
	   5,000,000 -   6,999,999
	  	 	270,000
	   7,000,000 -   8,999,999
	  	 	300,000
	   9,000,000 - 11,999,999
	  	 	325,000
	 12,000,000 - 14,999,999
	  	 	350,000
	 15,000,000 - 19,999,999
	  	 	375,000
	 20,000,000 - 27,499,999
	  	 	400,000
	 27,500,000 - 34,999,999
	  	 	425,000
	 35,000,000 - 42,499,999
	  	 	450,000
	 42,500,000 - 49,999,999
	  	 	475,000
	 50,000,000 or more
	  	 	500,000

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 3 

	 	(b)	Supplemental Life 

  

	 	(i)	Guaranteed Issue Maximum as shown in the following table: 

  

				
	 Number of Eligible Lives

	  	Guaranteed Issue Amount

	 <25
	  	$	0
	 25 – 50
	  	$	30,000
	 51 – 75
	  	$	50,000
	 76 – 100
	  	$	75,000
	 100+
	  	$	100,000

  

	 	(ii)	Guaranteed Issue Maximum for spouse benefit shall be twenty thousand dollars ($20,000). 

  

	4.	The following are excluded from reinsurance under this Agreement unless the Company has given its approval in writing to inclusion under this Agreement. 

  

	 	(a)	reinsurance in excess of twenty-five thousand dollars ($25,000) on any retired employee age sixty-five (65) or older; 

  

	 	(b)	disability benefits providing coverage for disabilities beginning on or after the day the insured becomes sixty (60) years of age. 

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 4 

 ADDENDUM NO. 7 
  
 to 
  
 GROUP LIFE REINSURANCE AGREEMENT 
 DWVD NO. 900108 
  
 between 
  
 EDUCATORS MUTUAL LIFE INSURANCE COMPANY 
 Lancaster, Pennsylvania 
 (hereinafter
referred to as the “Company”) 
  
 and

  
 SWISS RE LIFE & HEALTH AMERICA INC.

 Armonk, New York 
 (hereinafter referred to as the “Reinsurer”) 
  
 IT
IS HEREBY UNDERSTOOD AND AGREED that, effective 12:01 a.m., “Local” Standard Time, July 1, 2004, that the above captured Agreement is revised as follows: 
  

	I.	ARTICLE I – BASIS OF INSURANCE is deleted in its entirety and replaced with the following: 

  

	 	1.	Automatic Reinsurance. Whenever the Company issues a Group Policy providing insurance within the limits permitted by the Underwriting Rules of the Company as described
in Schedule B, the Company retains its maximum limit of retention as shown in Schedule C, the Company will cede and the Reinsurer will accept automatically reinsurance in amounts not exceeding the amounts in Schedule C, provided that the total
reinsurance coverage to be provided by the Reinsurer, as respects any one Group (as defined below) reinsured under this Agreement, will be strictly limited to and will not exceed one hundred million dollars ($100,000,000) per any single event or
occurrence. The loss on any single event or occurrence is the sum of all individual losses arising out of one or more associated events or occurrences. Events or occurrences will be deemed associated to the extent that they have a common cause or
are a chain of events or occurrences forming a part of a schematic whole, even if the events or occurrences themselves are separate in time and place. For these purposes, a series or sequence of events or occurrences reasonably likely to have been
caused by one or more persons acting in concert or in accordance with a plan or design will be deemed to have a common cause. 

  
 When the Company provides coverage within the scope of this Agreement to any Group requiring more than fifty million dollars ($50,000,000) of reinsured
face amount of insurance, the Company will provide the Reinsurer written notice of the inception of such coverage within ninety (90) days of its effect. Each such notice will include the number of the subject lives included in the Group by
worksite address, including zip code, and total reinsured volume at each work location. If the Company fails to 

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 1 

 
provide any notice required under this provision, until such notice is received by the Reinsurer, the maximum per event/occurrence coverage provided under
this Agreement, as respects that Group, will be strictly limited to fifty million dollars ($50,000,000). 
  
 For purposes of this Article, the term “Group” includes employer-employee groups, union and association/MET arrangements comprised of employers.

  
 Automatic reinsurance, as provided herein, shall apply to
benefits payable to covered persons under all Group Policies in force at or becoming effective at or after July 1, 2004, including renewals. 
  

	 	2.	Facultative Reinsurance. For any group case providing amounts of insurance which do not conform to the Underwriting Rules of the Company as described in Schedule B,
and is for this, or for any reason not eligible for automatic reinsurance under the provisions of this Agreement, such case may be offered to the Reinsurer for reinsurance on a facultative basis. 

  
 Additionally, if the coverage provided to the Group by the Company exceeds
one hundred million dollars ($100,000,000) of reinsured face amount, the Company may submit the Group for facultative consideration. 
  
 The Reinsurer, upon receipt of such facultative submission, will render a decision as to the case as soon as practically possible. If accepted by the
Reinsurer, unless mutually agreed otherwise by the Company and the Reinsurer, such case will be reinsured under this Agreement according to the rates and all other provisions applicable to automatic reinsurance. 
  
 The Reinsurer shall issue a Certificate of Facultative Reinsurance as set
forth in Schedule A, attached hereto, for each facultative case accepted by the Reinsurer for reinsurance and the Reinsurer shall have no liability for reinsurance unless and until acceptance of the risk is provide in the form of a Certificate. The
Certificate shall set forth the reinsurance provisions, terms and limitations, and reinsurance premiums regarding the policy, master contract or certificate. 
  

The Reinsurer and the Company agree that any changes in the provisions, terms, and limitations in the Certificate of Facultative Reinsurance shall be
made in the form of a Revised Certificate executed by a duly authorized representative of the Reinsurer. 
  

	II.	ARTICLE IV – REINSURANCE PREMIUMS – (as previously amended in Addendum 6) is deleted in its entirety and replaced with the following:

  

	 	1.	Group Life (Including Premium Waiver). The Company shall pay to the Reinsurer a monthly reinsurance premium calculated at the following rate: 

  

				
	 Applicable Time Frame

	  	Rate Per Thousand

	 July 1, 2004 through June 30, 2006
	  	$	0.24

  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 2 

 Schedule D - Group Life Rate Table (as amended by Amendment No. 4) is the rate table utilized to
determine the above-captioned rate and, as such, shall be made a part of this Agreement for informational purposes only. 
  
 Rates for Group cases reinsured on a facultative basis, as explained in Article I, Paragraph 2, Facultative Reinsurance, will be reinsured according to
the rates applicable to automatic reinsurance, unless the Company and the Reinsurer mutually agree to do otherwise. 
  

	 	2.	Payment. Premiums will be paid by the Company to the Reinsurer according to the same mode by which premiums for each reinsured Group case are paid to the Company, either
annually or semi-annually, quarterly or monthly. Changes in any insured group will be sent to the Reinsurer, along with the corresponding premium adjustments. The Reinsurer will accept any of the usual approximate methods of interim adjustment used
between the Company and its policyholder. 

  

	 	3.	Failure to Pay. Except as provided in Article V, General Provisions, the payment of reinsurance premiums will be a condition precedent to the liability of the Reinsurer under
reinsurance covered by this Agreement. In the event of non-payment of reinsurance premiums, as provided in the preceding paragraphs, the Reinsurer will have the right to terminate the reinsurance under all policies having reinsurance premiums in
arrears and will also reserve the right to require that interest be paid, calculated according to an annual rate of 6%, on all premiums more than ninety (90) days in arrears. If the Reinsurer elects to exercise its right of termination, it will
give the Company thirty (30) days notice of its intention to terminate the reinsurance. If all reinsurance premiums are in arrears, including any which may become in arrears during the thirty (30) day period, are not paid before the
expiration of the period, the Reinsurer will be relieved of future liability under all policies of reinsurance under which reinsurance premiums remain unpaid. The reinsurance terminated may be reinstated at any time within sixty (60) days of
the date of termination upon payment of all reinsurance premium in arrears, but if reinstatement is made the Reinsurer will have no liability in connection with any claims incurred between the date of termination and the date of reinstatement of the
reinsurance. The Reinsurer’s right to terminate reinsurance will be without prejudice to its right to collect premiums for the period reinsurance was in force prior to the expiration of the thirty (30) day notice period.

  

	III.	ARTICLE VIII – EXPERIENCE REUND is hereby deleted in its entirety. 

  

	IV.	SCHEDULE C – RETENTION LIMITS AND REINSURANCE SCHEDULE (as previously amended in Addendum 5) is deleted in its entirety and replaced with SCHEDULE C attached
hereto. 

  

	V.	SCHEDULE I – EXPERIENCE REFUND is hereby deleted in its entirety. 

  
 All other terms and conditions remain the same. 
  

 D. W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 3 

 IN WITNESS WHEREOF, the parties hereto have caused this Addendum to be executed by their duly authorized
representatives. 
  
 Signed for and on behalf of: EDUCATORS MUTUAL LIFE
INSURANCE COMPANY 
  
 In: Lancaster, PA this 30 day of
November, 2004 
  

			
		
	 By:
	 	

	 Title:
	 	VP & Actuary

  
 Signed for and on behalf of: SWISS RE LIFE AND HEALTH AMERICA INC. 
  
 In: New York this 18 day of November, 2004 
  

			
		
	 By:
	 	

	 Title:
	 	Sr. V. P.

  

 D.W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 4 

 SCHEDULE C 
  
 RETENTION LIMITS AND REINSURANCE SCHEDULE 
  
 Retention Limits of the Company 
  
 Group Life – 100% of the first $100,000. 
  
 Amounts Ceded to the Reinsurer 
  
 Group Life – 100% in excess of $100,000 up to the maximums stated in Schedule B. 
  
 The Company will reinsure and the Reinsurer will accept all excess underwritten amounts to a maximum of $700,000. 
  
 The Reinsurer will continue to reinsure on an excess basis those amounts reduced due to age.

  

 D.W. VAN DYKE and COMPANY of CONNECTICUT, INC. 
  
 5

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