Premium – [BonkNote]

Maximum Premium (9) A brief description of the premium outlay or contract premium, if applicable, required by the policy. For a policy which does not require a specific premium payment, a statement as to what premium outlay must be paid to guarantee coverage for the term of the contract, subject to maximum premiums allowable to…

Graded Premiums 1959 – SOA – Discussion of Subjects of Special Interest – Graded Premiums, Society of Actuaries VOL. 11 NO. 29AB – 6p

Hyperfunding 2014 0928 – Letter – Sheryl J. Moore to NAIC (LATF) – Moore Market Intelligence – RE: Actuarial Guideline on Illustrations for Indexed Life Insurance Policies – [link] Hyperfunding 2017 0522 – Veralytic – Criticism of Hybrid Life Insurance Products – [Barry Flagg] – [VIDEO-YouTube-46:56] SEC 151A, Harkin Amendment Red Flags 35 – HyperFunding 2024 0725 -…

No Premium Due Commissioner Willis (DC) said the trouble with disclosing that the premium might at some point “resume” is that the premium never stopped. It is misleading to make a consumer think the premium is not being paid. [Bonk: Vanishing Premium, Policy Mechanics, Cash Flow, Work) 1994-3, NAIC Proceedings 1983 0206 – Fort Lauderdale News -…

Fractional Premiums Robert G. Ward opened the discussion by describing the basis of fractional premiums introduced by the Provident Mutual late in 1957, at which time a system of quantity discount was announced under which the premium for yearly premium life insurance policies was $2 less per $1,000 on the portion of a policy in…

Net Premium The method of computation of “net premium” is the great insurance secret. We doubt if any legislator or any judge ever solved the problem or guessed the secret. (p66) 1917 – Book – A License to Steal: Life Insurance, the Swindle of Swindles : how Our Laws Rob Our Own People of Billions, by…

Premium Calculation PVFB=PVFP Ratebook Plan of Insurance When it offers a plan of insurance for a specified premium it does so on the basis of an expected level of mortality, interest, withdrawal, expense and taxation in the future. It also recognizes that the future experience levels will vary from those expected at issue through statistical…

Renewal Premiums In this project, we studied a typical universal life (UL) contract issued in the United States. We studied three alternative approaches of recognizing renewal premiums and their effect on expected earnings. The first was to ignore their recognition until received. The second was to recognize the amount of expected renewal premium, while the…

Flexible Premium Chapter 6 provides a comprehensive description of adjustable-premium and flexible premium plans, along with the development of universal life insurance. An introductory description of universal life product features is also given. Black, K. Jr., and Skipper, H.D. Jr. “Flexible-Premium Life Insurance Policies,” Chapter 6 in Life Insurance. 12th ed. Englewood Cliffs, N.J.: Prentice…

Premium Payment Options The complications begin with a very simple question: What’s the premium for Universal Life? It could be almost anything. Then what’s the cash value? That depends on the premium. It is the relationship between the premium and cash value that determines the product characteristics of Universal Life. — Ben H. Mitchell, [Bonk: a…