November 1, 2000
Jefferson Pilot Financial Insurance Company
One Granite Place
Post Office Box 515
Concord, New Hampshire 03301
Gentlemen:
This opinion is furnished in connection with the registration by Jefferson Pilot
Financial Insurance Company ("JP Financial") on Form S-6 ("Registration
Statement") of interests in JPF Separate Account A ("Separate Account A") under
its Ensemble EXEC flexible premium variable life insurance policy (the
"Policy").
I am familiar with the terms of the Policy, the Registration Statement and the
Exhibits thereto. In my opinion:
1. The illustrations of death benefits, accumulation value and surrender
value for the Policy in Appendix A of the prospectus, based on the
assumptions stated in the illustrations, are consistent with the
provisions of the Policy.
The Policy has not been designed so as to make the relationship between
premiums and benefits, as shown in the illustrations, appear
disproportionately more favorable to prospective purchasers of the
Policy for non-smoker standard risk males age 40 than to prospective
purchasers of the Policy for males at other ages or in other
underwriting classes or for females. The particular illustrations shown
were not selected for the purpose of making this relationship appear
more favorable. Generally, the rates for non-smokers are lower than for
smokers and the rates for females are lower than for males.
2. The illustrations of death benefits, accumulation value and surrender
value for the Policy, based on the net return of the twenty divisions
of the Separate Account and the assumptions stated within the examples,
are consistent with the provisions of the Policy.
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November 1, 2000
Page 2
The illustrations in Appendix A have not been designed so as to make
the relationship between premiums and benefits appear
disproportionately more favorable to prospective purchasers of the
Policy for non-smoker standard risk males age 40 than to prospective
purchasers of the Policy, males at other ages or in other underwriting
classes or for females. Generally, the rates for non-smokers are lower
than for smokers and the rates for females are lower than for males.
3. The illustrations set forth in appendix A of the prospectus contain
both the current and guaranteed rates of cost of insurance charges to
be used for those Policies for non-smoker standard risk males of
illustrated ages.
These rates have not been designed so as to make the relationship between
current and guaranteed rates appear disproportionately more favorable to
prospective purchasers of Policies for the ages illustrated than for males of
other ages of underwriting classes for females. The particular rates shown were
not selected because they were more favorable than for males of other ages or
underwriting classes or for females. The particular illustrations shown were not
selected for the purpose of making this relationship appear more favorable.
Generally, the rates for non-smokers are lower than for smokers and the rates
for females are lower than for males.
I hereby consent to the use of this opinion as an exhibit to the Registration
Statement and to the reference to my name under the heading "Experts" in the
prospectus.
Sincerely,
/s/ Richard C. Dielensnyder
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Richard C. Dielensnyder, FSA, MAAA
Vice President
/RCD
