Policies – Page 11

Permanent Life Insurance Whole Life Universal Life as Permanent / Whole / Other Why is Universal Life Insurance sometimes called Whole or Permanent? Permanent Plan Term Insurance — The contributing company is to determine for itself which of its plans are to be treated as term insurance and which as permanent. The original instructions gave…

Nonguaranteed Premium (Policy) Nonguaranteed Premium Policies Cash values and death benefits under these policies are guaranteed, but their premiums are not. These policies contain a guaranteed “maximum premium”, but the company anticipates charging a lower premium. The company will illustrate the cost based on the premium it currently expects to charge. Your actual cost will…

Interest Sensitive Life Insurance 8. The growth of interest-sensitive insurance products, such as universal life, spurred by a period of high inflation and historically high interest rates. 1984-1, NAIC Proc. Other interest-sensitive policies include variable life, adjustable life and variable premium life. In variable life policies, the assets (typically equities) underlying the policies are held in…

Term to 100 A product that is available and sold in Canada today, commonly called Term to 100, doesn’t have any nonforfeiture value at all. It’s a level-premium, whole-life product without any nonforfeiture value. — Walter A. Neeves 1995 – SOA – Practical Illustrations and Nonforfeiture Values, Society of Actuaries – 14p

Features Key Attributes of Generic Life Insurance Policies — Table 4-2 Duration of coverage – Universal Life – Depends on premiums paid (p111) 2015 – Book – Life Insurance 15th Ed. – Black, Skipper, Black (Huebner Series) 1993 – SOA – Product Design / Pricing with Bonus Features, Society of Actuaries – 22p 2004 – ACLI/…

Term Life Insurance ART – Annual Renewable Term BTID – Buy Term and Invest the Difference Term-ites A.L. Williams Primerica Decreasing Term Deposit Term Life Insurance Group Term Indeterminate Premuim Yearly Renewable Term Level Premium Term Mortgage Insurance Participating Term Life Insurance Term Conversions 1975 – SOA – An Approach to Reserve for Term Insurance…

Single Premium Life Insurance SPWL – Single Premium Whole Life 1988 0325 – GOV (Senate) – Tax Treatment of Single-Premium Life Insurance, (CSPAN) Single Premium Life Insurance, Max Baucus, (D-MT) — [BonkNote] LIRP – Life Insurance Retirement Plan 1999 – LC – Greenberg v. Life Ins. Co. of Virginia – [GoogleScholar] re: Single Premium Life Insurance…

Lapse-Supported [Glenn Daily is particularly irate about what the industry calls “lapse supported pricing,” which is used in illustrations to show higher cash values in later years. Actuaries who use this technique know that only half the people who buy policies will still have them after seven years. After 20 years, only about 25 percent…

Plan of Insurance “Plan of Insurance” vs Specific Policy [Plan of Insurance] 2019 0903 – 2019-3, NAIC Life Insurance Illustration Issues (A) Working Group (LIIIWG) – Conference Call Michael Lovendusky, ACLI … said assisting consumers to compare products is outside the scope of the Working Group’s charge, and it would limit innovation and harm consumers.…

Deposit Term Modified Premium Whole Life Partial-Endowment-Type Products One could almost argue that Universal Life is an outgrowth of Deposit Term. Most Universal Life policies have initial sales charges, that from a practical sense resemble a deposit term contract, sold with an annuity rider. — Fred Jonske 1984 – SOA – Individual Term Portfolio Management, Society of…