Policies – Page 12

Nonguaranteed Premium (Policy) 3. What considerations (including state requirements) are involved in setting the premium rates? a. At issue-maximum and illustrated premiums. 1980 – SOA – Nonparticipating Life Products with Nonguaranteed Premiums (rsa80v6n22), Society of Actuaries – 18p Nonguaranteed Premium Policies Cash values and death benefits under these policies are guaranteed, but their premiums are…

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

Reinsurance Assumption Reinsurance Captive Reinsurance Financial Reinsurance Reinsurance Collateral Reinsurance – Taxes 1988 – SOA – Reinsurance Tax Issues, Society of Actuaries – 10p Surplus Relief Reinsurance Skinner – GOV – Blunt Instrument NAIC – Special Purpose Reinsurance Vehicle Model Act – 789-1 – 34p Section 1. Purpose – This Act provides for the creation of Special…

Shadow Insurance Recently I have noticed other disturbing signs, indicated by an increase in formation of overseas domiciled subsidiary or “Shadow Insurers” designed for use in the U.S. surplus markets. These “Shadows” of prominent U.S. insurers are popping up all over the world and are beginning to mark the escape of U.S. insurance company investment…

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 SPL – Single Premium Life SPWL – Single Premium Whole Life 1988 0315 – GOV (House) – Investment Uses of Life Insurance, Charles Rangel (D-NY) [PDF-257p-GooglePlay, VIDEO-?] 1988 0325 – GOV (Senate) – Tax Treatment of Single-Premium Life Insurance, Max Baucus, (D-MT) — [BonkNote] LIRP – Life Insurance Retirement Plan In the…

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.…