Policy Information
IRR – Internal Rate of Return
IRR – Internal Rate of Return 2021 – AP – A Study of Life Internal Rate of Return, by Roenganan, Sorrawee & Misiran, Masnita & Phewchean, Nattakorn. (2021). A Study of Life Internal Rate of Return. WSEAS TRANSACTIONS ON MATHEMATICS. 20. 122-133 – [link]
Read MoreGrace Period
Grace Period 2013 0905 – LC – Johnston & Johnston v Conseco – 5th Circuit Court of Appeals – 13-30010 – Oral Argument – mp3 — [BonkNote] ULMR – Universal Life Insurance Model Regulation – MDL-585 – NAIC – Snippets
Read MorePricing Assumptions
Pricing Assumptions Actually, all of us know it is one thing to build into your pricing assumptions a certain rate of return, but it is quite another thing to find out what rate of return you are actually experiencing. — Owen A. Reed 1981 – SOA – Effective Use of Capital, rsa81v7n312, Society of Actuaries…
Read MoreSeparate Accounts
Separate Accounts 1985 0717 – Federal Register – Vol. 50, No. 137 p28930-28931 – SEC – Investment companies: Separate accounts funding flexible premium variable life insurance contracts – 2p 2000 – SOA – Separate Account Products in the U.S. and Canada: Comparing Their Design, Regulation, and Taxation, Society of Actuaries – 28p 2. A separate account is…
Read MoreInterest Rate Guarantees
Interest Rate Guarantees Many insurance products offer minimum interest rate guarantees for the life of the contract. In fact, some of these guarantees are mandated by statutory nonforfeiture laws. Although guarantees of 3-5% were once considered minimus, the current low interest rate environment renders them problematic. This session will explore the product design,pricing and investment…
Read MoreGeneral Accounts
General Accounts 1983 – SOA – Segmentation of Insurance Company General Accounts, Society of Actuaries – 38p New Money / Portfolio Money Investment Generation Method 5. A general account is a design feature that is generally available to purchasers of whole or universal life insurance whereby the general assets of the insurance company support the…
Read MoreGuaranty Funds
Guaranty Funds NAIC – Financial Condition Committee – (E) — [BonkNote] Guaranty Fund Issues Working Group – (E) – NAIC — [BonkNote] NCIGF – National Conference of Insurance Guaranty Funds – ncigf.org/ — [BonkNote] NOLHGA – National Organization of Life and Health Insurance Guaranty Associations — [BonkNote] (p515) – The working group identified several issues relevant…
Read MorePolicyholder
Policyholder Orphaned Policyholder Behavior Policyholder Options POLICYHOLDER PROTECTION Consumers Consumer Education Confusion
Read MorePolicyholder Options
Policyholder Options Many insurance contracts offer the policyowner options regarding premium payment, benefit patterns, and policy loans. This flexibility means that many different patterns of future cash flow could arise under the contract. (p6) 2002 09 – AAA – Fair Valuation of Insurance Liabilities: Principles and Method, American Academy of Actuaries – 48p The ACLI’s Dolan…
Read MoreAdvice
Advice Incidental Advice Thomas v. Metropolitan Life Insurance Company, Case No …Aug 31, 2009 — This policy was a variable universal life insurance policy. The Third … advice “solely incidental to” the conduct of business as a broker or dealer. … under the IAA if the advice they give is “solely incidental to” their broker activities and they receive…
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