UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
Quarterly Report Under Section 13 or 15(d) of the Securities Exchange Act
of 1934
(Mark one)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the quarterly period ended June 30, 2002
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from to
Commission file number 33-28976
IDS LIFE INSURANCE COMPANY
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(Exact name of registrant as specified in its charter)
MINNESOTA 41-0823832
- -------------------------------- ------------------
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
AXP FINANCIAL CENTER, MINNEAPOLIS, MINNESOTA 55474
- ------------------------------------------------- -------------
(Address of principal executive offices) (Zip Code)
(Registrant's telephone number, including area code) (612) 671-3131
--------------
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes X No
THE REGISTRANT MEETS THE CONDITIONS SET FORTH IN GENERAL INSTRUCTION H(1)(a) AND
(b) OF FORM 10-Q AND IS THEREFORE FILING THIS FORM WITH THE PERMITTED
ABBREVIATED NARRATIVE DISCLOSURE.
IDS LIFE INSURANCE COMPANY
FORM 10-Q
For the Quarter Ended June 30, 2002
Table of Contents
PART I - FINANCIAL INFORMATION Page
Item 1. Financial Statements
Consolidated Balance Sheets as of
June 30, 2002 (unaudited) and
December 31, 2001 3 - 4
Consolidated Statements of Income for the
three and six months ended June 30, 2002 and 2001
(unaudited) 5 - 6
Consolidated Statements of Cash Flows for the
six months ended June 30, 2002 and 2001
(unaudited) 7 - 8
Notes to Consolidated Financial Statements
(unaudited) 9 - 12
Item 2. Management's Discussion and Analysis of
Consolidated Financial Condition and
Results of Operations 13 - 15
PART II - OTHER INFORMATION 16 - 20
SIGNATURES 21
IDS LIFE INSURANCE COMPANY
CONSOLIDATED BALANCE SHEETS
(In thousands)
June 30, December 31,
ASSETS 2002 2001
(unaudited)
Investments:
Available for sale:
Fixed maturities, at fair value (Amortized cost:
2002, $20,059,945; 2001, $20,022,072) $20,384,521 $20,157,137
Common stocks, at fair value (Cost: 2002,
$21,451; 2001, $805) 21,794 1,704
Mortgage loans on real estate 3,591,370 3,680,394
Policy loans 603,741 619,571
Other investments 709,772 621,897
----------- -----------
Total investments 25,311,198 25,080,703
Cash and cash equivalents 1,106,536 1,150,251
Amounts recoverable from reinsurers 586,738 529,166
Amounts due from brokers 148,221 90,794
Other accounts receivable 63,084 46,349
Accrued investment income 278,864 278,199
Deferred policy acquisition costs 3,236,427 3,107,187
Deferred income taxes 84,450 156,308
Other assets 114,145 123,246
Separate account assets 24,569,120 27,333,697
----------- -----------
Total assets $55,498,783 $57,895,900
=========== ===========
See accompanying notes.
-3-
IDS LIFE INSURANCE COMPANY
CONSOLIDATED BALANCE SHEETS
(In thousands, except share amounts)
(continued)
June 30, December 31,
LIABILITIES AND STOCKHOLDER'S EQUITY 2002 2001
(unaudited)
Liabilities:
Future policy benefits:
Fixed annuities $20,621,461 $19,592,273
Universal life-type insurance 3,459,044 3,433,904
Traditional life insurance 258,616 241,165
Disability income and
long-term care insurance 1,340,877 1,227,172
Policy claims and other
policyholders' funds 79,124 71,879
Amounts due to brokers 759,874 1,740,031
Other liabilities 340,672 437,017
Separate account liabilities 24,569,120 27,333,697
------------ ------------
Total liabilities 51,428,788 54,077,138
------------ ------------
Stockholder's equity:
Capital stock, $30 par value per share;
100,000 shares authorized, issued and outstanding 3,000 3,000
Additional paid-in capital 688,327 688,327
Accumulated other comprehensive income,
net of tax:
Net unrealized securities gains 204,391 85,549
Net unrealized derivative losses (448) (774)
------------ ------------
Total accumulated other comprehensive income 203,943 84,775
Retained earnings 3,174,725 3,042,660
------------ ------------
Total stockholder's equity 4,069,995 3,818,762
------------ ------------
Total liabilities and stockholder's equity $55,498,783 $57,895,900
============ ============
See accompanying notes.
-4-
IDS LIFE INSURANCE COMPANY
CONSOLIDATED STATEMENTS OF INCOME
(In thousands)
(unaudited)
Three months ended
June 30,
2002 2001
Revenues:
Premiums:
Traditional life insurance $ 16,752 $ 15,003
Disability income and
long-term care insurance 66,335 62,196
------ ------
Total premiums 83,087 77,199
Policyholder and contractholder charges 129,764 121,451
Management and other fees 108,835 120,921
Net investment income 381,953 256,510
Net realized loss on investments (40,590) (488,289)
------- --------
Total revenues 663,049 87,792
------- ------
Benefits and expenses:
Death and other benefits:
Traditional life insurance 10,992 8,796
Universal life-type insurance
and investment contracts 51,328 30,500
Disability income and
long-term care insurance 12,610 11,137
Increase in liabilities for
future policy benefits:
Traditional life insurance 2,636 1,656
Disability income and
long-term care insurance 34,943 29,174
Interest credited on universal life-type
insurance and investment contracts 274,640 291,027
Amortization of deferred policy
acquisition costs 90,502 71,128
Other insurance and operating expenses 105,752 97,326
------- ------
Total benefits and expenses 583,403 540,744
------- -------
Income (loss) before income tax expense (benefit) 79,646 (452,952)
Income tax expense (benefit) 7,915 (177,626)
----- --------
Net income (loss) $ 71,731 $(275,326)
======== =========
See accompanying notes.
-5-
IDS LIFE INSURANCE COMPANY
CONSOLIDATED STATEMENTS OF INCOME
(In thousands)
(unaudited)
Six months ended
June 30,
2002 2001
Revenues:
Premiums:
Traditional life insurance $ 32,664 $ 29,460
Disability income and
long-term care insurance 131,720 122,685
---------- -----------
Total premiums 164,384 152,145
Policyholder and contractholder charges 254,815 241,105
Management and other fees 220,005 245,516
Net investment income 781,854 673,944
Net realized loss on investments (45,314) (615,206)
----------- ------------
Total revenues 1,375,744 697,504
----------- ------------
Benefits and expenses:
Death and other benefits:
Traditional life insurance 18,187 17,469
Universal life-type insurance
and investment contracts 97,719 76,319
Disability income and
long-term care insurance 24,778 21,456
Increase in liabilities for
future policy benefits:
Traditional life insurance 4,425 3,261
Disability income and
long-term care insurance 64,017 53,865
Interest credited on universal life-type
insurance and investment contracts 553,920 568,501
Amortization of deferred policy
acquisition costs 165,674 227,374
Other insurance and operating expenses 200,482 213,683
---------- -----------
Total benefits and expenses 1,129,202 1,181,928
---------- -----------
Income (loss) before income tax expense (benefit) 246,542 (484,424)
Income tax expense (benefit) 46,581 (205,580)
---------- -----------
Net income (loss) before cumulative effect of accounting change 199,961 (278,844)
Cumulative effect of accounting change (net of tax of $11,647) -- (21,410)
---------- -----------
Net income (loss) $ 199,961 $ (300,254)
========== ===========
See accompanying notes.
-6-
IDS LIFE INSURANCE COMPANY
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(unaudited)
Six months ended
June 30,
2002 2001
Cash flows from operating activities:
Net income (loss) $ 199,961 $(300,254)
Adjustments to reconcile net income (loss) to
net cash provided by operating activities:
Cumulative effect of accounting change, net of
Tax -- 21,410
Policy loans, excluding universal
life-type insurance:
Issuance (18,974) (25,302)
Repayment 25,028 27,873
Change in amounts recoverable from reinsurers (57,572) (48,002)
Change in other accounts receivable (16,735) (30,843)
Change in accrued investment income (665) 23,419
Change in deferred policy
acquisition costs, net (135,362) (43,297)
Change in liabilities for future policy
benefits for traditional life,
disability income and
long-term care insurance 131,156 99,121
Change in policy claims and other
policyholders' funds 7,245 25,121
Change in deferred income taxes 7,690 (339,915)
Change in other assets 9,101 (98,753)
Change in other liabilities (96,345) 109,490
Accretion of discount, net 31,399 192,475
Net realized loss on investments 45,314 615,206
Contractholder charges, non-cash (112,063) (108,454)
Other, net (9,816) (2,939)
---------- ----------
Net cash provided by operating activities $ 9,362 $ 116,356
---------- ----------
-7-
IDS LIFE INSURANCE COMPANY
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(unaudited)
(continued)
Six months ended
June 30,
2002 2001
Cash flows from investing activities:
Fixed maturities available for sale:
Purchases $(4,894,562) $(3,603,262)
Maturities, sinking fund payments and calls 1,604,836 1,126,799
Sales 3,226,222 1,925,753
Other investments, excluding policy loans:
Purchases (279,229) (135,864)
Sales 222,646 191,850
Change in amounts due from broker (57,427) (12,107)
Change in amounts due to broker (980,157) 502,091
------------ ------------
Net cash used in investing activities (1,157,671) (4,740)
------------ ------------
Cash flows from financing activities:
Activity related to universal life-type insurance
and investment contracts:
Considerations received 1,633,285 983,260
Surrenders and death benefits (1,022,386) (1,622,820)
Interest credited to account balances 553,920 568,501
Universal life-type insurance policy loans:
Issuance (39,107) (51,221)
Repayment 48,882 46,447
Cash dividends to parent (70,000) --
------------ ------------
Net cash provided by (used in) financing activities 1,104,594 (75,833)
------------ ------------
Net (decrease) increase in cash and cash equivalents (43,715) 35,783
Cash and cash equivalents at beginning of period 1,150,251 316,974
------------ ------------
Cash and cash equivalents at end of period $ 1,106,536 $ 352,757
============ ============
See accompanying notes.
-8-
IDS LIFE INSURANCE COMPANY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
June 30, 2002
(In thousands)
(unaudited)
1. General
In the opinion of the management of IDS Life Insurance Company (the
Company), the accompanying unaudited consolidated financial statements
contain all adjustments (consisting of normal recurring adjustments)
necessary to present fairly its balance sheet as of June 30, 2002,
statements of income for the three and six months ended June 30, 2002
and 2001 and statements of cash flows for the six months ended June 30,
2002 and 2001.
The Company is a wholly owned subsidiary of American Express Financial
Corporation (AEFC), which is a wholly-owned subsidiary of American
Express Company. The accompanying unaudited consolidated financial
statements include the accounts of the Company and its wholly owned
subsidiaries, IDS Life Insurance Company of New York, American
Enterprise Life Insurance Company, American Centurion Life Assurance
Company, American Partners Life Insurance Company, American Express
Corporation and IDS REO 1, LLC. All material intercompany accounts and
transactions have been eliminated in consolidation.
2. Comprehensive Income
Total comprehensive income (loss) was $324,264 and $(172,222) for the
three months and $319,129 and $113,700 for the six months ended June
30, 2002 and 2001, respectively.
3. Statements of cash flows
Cash paid for interest on borrowings totaled $4,648 and $11,422 for the
six months ended June 30, 2002, and 2001, respectively. Cash paid for
income taxes totaled $106,687 for the six months ended June 30, 2002
compared to cash received of $64,551 for the six months ended June 30,
2001.
-9-
IDS LIFE INSURANCE COMPANY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(In thousands)
(unaudited)
(continued)
4. Accounting developments
In July 2000, the FASB's Emerging Issues Task Force (EITF) issued a
consensus on Issue 99-20, "Recognition of Interest Income and
Impairment on Purchased and Retained Beneficial Interests in
Securitized Financial Assets". The Company adopted the consensus as of
January 1, 2001. Issue 99-20 prescribes new procedures for recording
interest income and measuring impairment on retained and purchased
beneficial interests. The consensus primarily affects certain
high-yield investments contained in structured securities. Adoption of
the consensus required the Company to adjust the carrying amount of
these investments downward by $21,410, net of tax, upon adoption.
5. Commitments and contingencies
Commitments to fund mortgage loan investments in the ordinary course
of business at June 30, 2002 aggregated $40,550.
The maximum amount of life insurance risk retained by the Company is
$750 on any policy insuring a single life and $1,500 on any policy
insuring a joint-life combination. The Company retains only 20% of the
mortality risk on new variable universal life insurance policies and
10% of the mortality risk on new term insurance policies. Risk not
retained is reinsured with other life insurance companies, primarily on
a yearly renewable term basis. Long-term care policies are primarily
reinsured on a coinsurance basis. The Company retains all accidental
death benefit, disability income and waiver of premium risk.
-10-
IDS LIFE INSURANCE COMPANY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(In thousands)
(unaudited)
(continued)
5. Commitments and contingencies (continued)
A number of lawsuits involving insurance sales practices, alleged agent
misconduct, failure to properly supervise agents and other matters
relating to life insurance policies and annuity contracts have been
filed against life and health insurers in jurisdictions in which the
Company and its affiliates do business. The Company and its affiliates,
like other life and health insurers, are involved in such litigation.
The Company was a named defendant in three class action lawsuits of
this nature. On December 13, 1996, an action entitled Lesa Benacquisto
and Daniel Benacquisto v. IDS Life Insurance Company and American
Express Financial Corporation was commenced in Minnesota state court. A
second action, entitled Arnold Mork, Isabella Mork, Ronald Melchert and
Susan Melchert v. IDS Life Insurance Company and American Express
Financial Corporation was commenced in the same court on March 21,
1997. On October 13, 1998, an action entitled Richard W. and Elizabeth
J. Thoresen v. American Express Financial Corporation, American
Centurion Life Assurance Company, American Enterprise Life Insurance
Company, American Partners Life Insurance Company, IDS Life Insurance
Company and IDS Life Insurance Company of New York was also commenced
in Minnesota state court. These three class action lawsuits included
allegations of improper insurance and annuity sales practices including
improper replacement of existing annuity contracts and insurance
policies, improper use of annuities to fund tax deferred contributory
retirement plans, alleged agent misconduct, failure to properly
supervise agents and other matters relating to life insurance policies
and annuity contracts.
In January 2000, AEFC and its subsidiaries reached an agreement in
principle to settle the three class action lawsuits described above. It
is expected the settlement will provide $215 million of benefits to
more than two million participants in exchange for a release by class
members of all insurance and annuity market conduct claims dating back
to 1985.
In August 2000, an action entitled Lesa Benacquisto, Daniel
Benacquisto, Richard Thoresen, Elizabeth Thoresen, Arnold Mork,
Isabella Mork, Ronald Melchert and Susan Melchert v. American Express
Financial Corporation, American Express Financial Advisors, American
Centurion Life Assurance Company, American Enterprise Life Insurance
Company, American Partners Life Insurance Company, IDS Life Insurance
Company and IDS Life Insurance Company of New York was commenced in the
United States District Court for the District of Minnesota. The
complaint put at issue various alleged sales practices and
misrepresentations and allegations of violations of federal laws.
-11-
IDS LIFE INSURANCE COMPANY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(In thousands)
(unaudited)
(continued)
5. Commitments and contingencies (continued)
In May 2001, the United States District Court for the District of
Minnesota and the District Court, Fourth Judicial District for the
State of Minnesota, Hennepin County entered orders approving the
settlement as tentatively reached in January 2000. Appeals were filed
in both federal and state court but subsequently dismissed by the
parties filing the appeals. The orders approving the settlement were
final as of September 24, 2001. Implementation of the settlement
commenced October 15, 2001.
Numerous individuals opted out of the settlement described above and
therefore did not release their claims against AEFC and its
subsidiaries. Some of these class members who opted out were
represented by counsel and presented separate claims to the Company.
Most of their claims have been settled.
The outcome of any litigation or threatened litigation cannot be
predicted with any certainty. However, in the aggregate, the Company
does not consider any lawsuits in which it is named as a defendant to
have a material impact on the Company's financial position or operating
results.
-12-
MANAGEMENT'S DISCUSSION AND ANALYSIS OF CONSOLIDATED FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
Results of Operations
Six Months Ended June 30, 2002 Compared to Six Months Ended June 30, 2001:
Consolidated net income was $200 million for the six months ended June 30, 2002,
compared to a net loss of $300 million in 2001. 2001 results reflect
approximately $615 million of pretax losses from the recognition of impairment
losses and sale of certain high-yield securities and a $67 million pretax
increase in the amortization of deferred policy acquisition costs (DAC's). The
favorable relative impact in 2002 of these 2001 items was partially offset by
lower management fees reflecting continued weakness in equity markets in 2002.
Premiums and investment contract deposits increased to $3.5 billion compared to
$2.9 billion for the six months ended June 30, 2001. The increase was primarily
due to increases in sales of fixed annuities.
Management and other fees decreased to $220 million for the six months ended
June 30, 2002 compared with $246 million a year ago. This was primarily due to a
decrease in average separate account assets outstanding, resulting primarily
from market depreciation of equity securities. The Company provides investment
management services for many of the mutual funds which are used as investment
options for variable annuities and variable life insurance. The Company also
receives a mortality and expense risk fee from the separate accounts.
Net investment income increased to $782 million for the six months ended June
30, 2002 compared to $674 million a year ago. This increase was primarily due to
the credit-related yield adjustments on fixed maturity investments in 2001,
which was partially offset by lower portfolio rates in 2002.
Net realized loss on investments decreased to $45 million for the six months
ended June 30, 2001 compared to $615 million a year ago. The 2002 amount is
primarily comprised of losses on WorldCom debt holdings. The 2001 loss was
primarily due to the write-down and sale of certain high-yield investments.
Total benefits and expenses were $1.1 billion for the six months ended June 30,
2002, a decrease of 4 percent from a year ago. The largest component of
expenses, interest credited on universal life-type insurance and investment
contracts, decreased 3 percent to $554 million. This was primarily due to lower
interest credited rates. Amortization of deferred policy acquisition costs
decreased 27 percent for the six months ended June 30, 2002 compared to the same
period in 2001, due primarily to a $67 million increase in the first quarter of
2001 to the amortization of DAC's for variable annuity and insurance products as
a result of the decline in equity markets. Other insurance and operating
expenses decreased 6 percent, primarily reflecting the impact of re-engineering
initiatives.
-13-
MANAGEMENT'S DISCUSSION AND ANALYSIS OF CONSOLIDATED FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
IMPACT OF RECENT MARKET VOLATILITY ON RESULTS OF OPERATIONS
Various aspects of the Company's business are impacted by equity market levels
and other market-based events. Two areas in particular involve DAC and
structured investments. Each quarter management evaluates various factors, and
makes certain assumptions based on those factors, to determine the proper
amortization schedule for the Company's DAC, including mortality rates, product
persistency rates, maintenance expense levels, interest margins, and market
performance with respect to variable products. Changes in these factors can
affect management's assumptions in various ways. Depending on the direction and
magnitude of the changes they can increase or decrease DAC expense levels and
results of operations in any particular quarter. Similarly, the value of the
Company's structured investment portfolio is impacted by various market factors.
These investments include collateralized debt obligations and structured loan
trusts (backed by high-yield bonds and bank loans, respectively), which are held
by the Company through interests in special purpose entities. The carrying value
of these investments is based on cash flow projections, which are affected by
factors such as default rates, persistency of defaults, recovery rates and
interest rates, among others. The valuation of these investments assumes high
levels of defaults through 2002, relative to historical default rates.
Persistency or increases in these default rates could result in negative
adjustments to the market values of these investments in the future, which would
adversely impact results of operations. Conversely, a decline in the default
rates would benefit future results of operations.
Liquidity and Capital Resources
The liquidity requirements of the Company are met by funds provided from
operations and investment activity. The primary components of the funds provided
are premiums, investment income, proceeds from sales of investments as well as
maturities and periodic repayments of investment principal.
The primary uses of funds are policy benefits, commissions and operating
expenses, policy loans, new investment purchases and dividends to parent.
The Company has an available line of credit with its parent of $200 million
($100 million committed and $100 million uncommitted). This line of credit is
used strictly as a short-term source of funds. At June 30, 2002, outstanding
borrowings under this agreement totaled $50 million uncommitted. The Company
also uses reverse repurchase agreements for short-term liquidity needs. There
were no outstanding reverse repurchase agreements at June 30, 2002.
At June 30, 2002, approximately 6 percent of the Company's invested assets were
below-investment-grade bonds, compared to 9 percent at June 30, 2001. These
investments may be subject to a higher degree of risk than higher-rated issues
because of the borrowers' generally greater sensitivity to adverse economic
conditions, such as recession or increasing interest rates, and in certain
instances the lack of an active secondary market. Expected returns on
below-investment-grade bonds reflect consideration of such factors.
-14-
MANAGEMENT'S DISCUSSION AND ANALYSIS OF CONSOLIDATED FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
The Company has identified those fixed maturities for which a decline in fair
value is determined to be other than temporary, and has written them down to
fair value with a charge to earnings.
At June 30, 2002, the Company had a reserve for losses on mortgage loans of $40
million.
Forward-Looking Statements
Certain statements in the management's discussion and analysis of consolidated
financial condition and results of operations section of this Form 10-Q contain
forward-looking statements which are subject to risks and uncertainties that
could cause results to differ materially from such statements. Readers are
cautioned not to place undue reliance on these forward-looking statements, which
speak only as of the date on which they are made. The Company undertakes no
obligation to update publicly or revise any forward-looking statements.
Important factors that could cause actual results to differ materially from the
Company's forward-looking statements include, among other things, fluctuations
in the equity and interest rate environment and changes in the ability of
issuers of investment securities held by the Company to meet their debt
obligations, which could result in further losses in the Company's investment
portfolio.
-15-
MANAGEMENT'S DISCUSSION AND ANALYSIS OF CONSOLIDATED FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
PART II - OTHER INFORMATION
Item 1. LEGAL PROCEEDINGS
Reference is made to Note 5 of the Notes to Consolidated
Financial Statements (unaudited) contained in the Report filed
on Form 10-Q for the quarterly period ended June 30, 2002.
Item 2. CHANGES IN SECURITIES AND USE OF PROCEEDS
Not applicable.
Item 3. DEFAULTS UPON SENIOR SECURITIES
Not applicable.
Item 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
Not applicable.
Item 5. OTHER INFORMATION
Not applicable.
Item 6. EXHIBITS AND REPORTS ON FORM 10-K
(a) Exhibits
3.1 Copy of Certificate of Incorporation of IDS Life Insurance
Company filed electronically as Exhibit 3.1 to Post
Effective Amendment No. 5 to Registration Statement No.
33-28976 is incorporated herein by reference.
3.2 Copy of the Amended By-laws of IDS Life Insurance Company
filed electronically as Exhibit 3.2 to Post-Effective
Amendment No. 5 to Registration Statement No. 33-28976 is
incorporated herein by reference.
3.3 Copy of Resolution of the Board of Directors of IDS Life
Insurance Company, dated May 5, 1989, establishing IDS Life
Account MGA filed electronically as Exhibit 3.3 to
Post-Effective Amendment No. 5 to Registration Statement No.
33-28976 is incorporated herein by reference.
-16-
PART II - OTHER INFORMATION (continued)
4.1 Copy of Non-tax qualified Group Annuity Contract, Form
30363C, filed electronically as Exhibit 4.1 to
Post-Effective Amendment No. 5 to Registration Statement No.
33-28976 is incorporated herein by reference.
4.2 Copy of Non-tax qualified Group Annuity Certificate, Form
30360C, filed electronically as Exhibit 4.2 to
Post-Effective Amendment No. 5 to Registration Statement No.
33-28976 is incorporated herein by reference.
4.3 Copy of Endorsement No. 30340C-GP to the Group Annuity
Contract filed electronically as Exhibit 4.3 to
Post-Effective Amendment No. 5 to Registration Statement No.
33-28976 is incorporated herein by reference.
4.4 Copy of Endorsement No. 30340C to the Group Annuity
Certificate filed electronically as Exhibit 4.4 to
Post-Effective Amendment No. 5 to Registration Statement No.
33-28976 is incorporated herein by reference.
4.5 Copy of Tax qualified Group Annuity Contract, Form 30369C,
filed electronically as Exhibit 4.5 to Post-Effective
Amendment No. 10 to Registration Statement No. 33-28976 is
incorporated herein by reference.
4.6 Copy of Tax qualified Group Annuity Certificate, Form
30368C, filed electronically as Exhibit 4.6 to
Post-Effective Amendment No. 10 to Registration Statement
No. 33-28976 is incorporated herein by reference.
4.7 Copy of Group IRA Annuity Contract, Form 30372C, filed
electronically as Exhibit 4.7 to Post-Effective Amendment
No. 10 to Registration Statement No. 33-28976 is
incorporated herein by reference.
4.8 Copy of Group IRA Annuity Certificate, Form 30371C, filed
electronically as Exhibit 4.8 to Post-Effective Amendment
No. 10 to Registration Statement No. 33-28976 is
incorporated herein by reference.
4.9 Copy of Non-tax qualified Individual Annuity Contract, Form
30365D, filed electronically as Exhibit 4.9 to
Post-Effective Amendment No. 10 to Registration Statement
No. 33-28976 is incorporated herein by reference.
-17-
PART II - OTHER INFORMATION (continued)
4.10 Copy of Endorsement No. 30379 to the Individual Annuity
Contract, filed electronically as Exhibit 4.10 to
Post-Effective Amendment No. 10 to Registration Statement
No. 33-28976 is incorporated herein by reference.
4.11 Copy of Tax qualified Individual Annuity Contract, Form
30370C, filed electronically as Exhibit 4.11 to
Post-Effective Amendment No. 10 to Registration Statement
No. 33-28976 is incorporated herein by reference.
4.12 Copy of Individual IRA Annuity Contract, Form 30373C, filed
electronically as Exhibit 4.12 to Post-Effective Amendment
No. 10 to Registration Statement No. 33-28976 is
incorporated herein by reference.
4.13 Copy of Endorsement No. 33007 filed electronically as
Exhibit 4.13 to Post-Effective Amendment No. 12 to
Registration Statement No. 33-28976 is incorporated herein
by reference.
4.14 Copy of Group Annuity Contract, Form 30363D, filed
electronically as Exhibit 4.1 to Post-Effective Amendment
No. 2 to Registration Statement No. 33-50968 is incorporated
herein by reference.
4.15 Copy of Group Annuity Certificate, Form 30360D, filed
electronically as Exhibit 4.2 to Post-Effective Amendment
No. 2 to Registration Statement No. 33-50968 is incorporated
herein by reference.
4.16 Form of Deferred Annuity Contract, Form 30365E, filed
electronically as Exhibit 4.3 to Post-Effective Amendment
No. 2 to Registration Statement No. 33-50968 is incorporated
herein by reference.
4.17 Form of Group Deferred Variable Annuity Contract, Form
34660, filed electronically as Exhibit 4.1 to Post-Effective
Amendment No. 2 to Registration Statement No. 33-48701 is
incorporated herein by reference.
4.18 Copy of Non-tax qualified Group Annuity Contract, Form
33111, filed electronically as Exhibit 4.1 to Registration
Statement No. 333-42793 is incorporated herein by reference.
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PART II - OTHER INFORMATION (continued)
4.19 Copy of Non-tax qualified Group Annuity Certificate, Form
33114, filed electronically as Exhibit 4.2 to Registration
Statement No. 333-42793 is incorporated herein by reference.
4.20 Copy of Tax qualified Group Annuity Contract, Form 33112,
filed electronically as Exhibit 4.3 to Registration
Statement No. 333-42793 is incorporated herein by reference.
4.21 Copy of Tax qualified Group Annuity Certificate, Form 33115,
filed electronically as Exhibit 4.4 to Registration
Statement No. 333-42793 is incorporated herein by reference.
4.22 Copy of Group IRA Annuity Contract, Form 33113, filed
electronically as Exhibit 4.5 to Registration Statement No.
333-42793 is incorporated herein by reference.
4.23 Copy of Group IRA Annuity Certificate, Form 33116, filed
electronically as Exhibit 4.6 to Registration Statement No.
333-42793 is incorporated herein by reference.
4.24 Copy of Non-tax qualified Individual Annuity Contract, Form
30484, filed electronically as Exhibit 4.7 to Post-Effective
Amendment No. 1 to Registration Statement No. 333-42793 is
incorporated herein by reference.
4.25 Copy of Tax qualified Individual Annuity Contract, Form
30485, filed electronically as Exhibit 4.8 to Post-Effective
Amendment No. 1 to Registration Statement No. 333-42793 is
incorporated herein by reference.
4.26 Copy of Individual IRA Contract, Form 30486, filed
electronically as Exhibit 4.9 to Post-Effective Amendment
No. 1 to Registration Statement No. 333-42793 is
incorporated herein by reference.
21. Copy of List of Subsidiaries filed electronically as Exhibit
22 to Post-Effective Amendment No. 8 to Registration
Statement No. 33-28976 is herein incorporated by reference.
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PART II - OTHER INFORMATION (continued)
27. Financial data schedule is filed electronically herewith.
(b) No reports on Form 8-K were required to be filed by the
Company for the six months ended June 30, 2002.
Item 7. Exhibits 99.1 and 99.2
Certification pursuant to 18 U.S.C. Section 1350, see the attached
certification forms as as adopted pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
REGISTRANT IDS LIFE INSURANCE COMPANY
BY /s/ Philip C. Wentzel
-----------------------
NAME AND TITLE Philip C. Wentzel
Vice President and Controller
BY /s/ Barbara H. Fraser
------------------------
NAME AND TITLE Barbara H. Fraser
Chief Executive Officer
DATE August 13, 2002
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