Premium
Required Premium
Required Premium NAIC – LIIIWG – Lois Lerner Johnston & Johnston v. Conseco * Paying more than the required minimum premium can help build cash value 2023 – Prudential – Supplementing Retirement Income with Cash Value Life Insurance – Cash Value: Life Insurance in Retirement Planning – 2p (p5) – After receiving these notices, John…
Read MoreCost – Index
Cost – Index ABCDEFGHIJKLMNOPQRSTUVWXYZ# C Charges COI – Cost of Insurance Cost Costigan v. John Hancock Costs and Illustrations – Walker vs. LSW Costs of Lawsuit – Walker vs. LSW Cost Benefit Cost Comparison Cost Disclosure Cost Indices Subgroup – (A) – NAIC Cost of Insurance Cost Structure Cost – Index Back to top E…
Read MoreMinimum Premium
Minimum Premium An approach which seems to be gaining in popularity expresses commissions as a percent of a target or a minimum premium. — Christian J. DesRochers 1983 – SOA – Universal Life (RSA83V9N212), Society of Actuaries – 24p 2. As admitted by Joel Kuni, Farmer’s Product Development Actuarial Manager, in his deposition of 5-7-2003, at page…
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Financed Premiums Lawsuits 2024 0418 – The Granddaddy of All Premium Finance Litigation, by Larry J. Rybka, Chairman and CEO at Valmark Financial Group – [link] Stephen C. Baker recently posted about a mega premium finance case that is currently being litigated in New York in the case of Aronson v. Brave Strategies, LLC. Besides involving…
Read MorePremium Taxes
Premium Taxes The States feared the loss of large revenues received from taxation of the insurance business.1 (p221)’ 1948 – LR – Statutory Regulation of Life Insurance Investment, by W. Page Keeton, Yale – 21p As you may know, Alabama has a $1.3 billion per year insurance business, resulting in $240 million of insurance premium…
Read MorePremiums, Costs, Values and Benefits – Index
Premiums and Benefits – Index ABCDEFGHIJKLMNOPQRSTUVWXYZ# B Benefits Benefits – Actuarial Benefits – Consumer Representatives Benefits – Index Benefits – Industry Groups Benefits – NAIC / Regulators BGA – Benefit Generating Account BGF – Benefit Generating Function Back to top C Coverage Period – Examples Back to top D Dynamic Back to top G Guaranteed…
Read MorePremium – Regulator – Universal Life
Premium – Regulator – Universal Life Commissioner Hager of the Universal & Other Plans (A) Task Force stated that there appeared to be disclosure problems with universal life plans and that the identification of these items should be placed on the Actuarial Task Force agenda. Some of the items identified which should be disclosed: (2)…
Read MorePremium – Consumer – Universal Life
Premium – Consumer – Universal Life The agent said that Universal Life policy premiums would stay the same, but I came to realize that this is not true of our policies. …what bothers me is that I am afraid that this same misleading information may be the basis of my children’s and grandchildren’s … planning……
Read MorePremium – Actuarial
Premium – Actuarial – Universal Life 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…
Read MoreGuideline Annual Premium
Guideline Annual Premium In short, Petitioner <ACLI> states, the guideline annual premium equals the annual premium necessary to keep the policy in force for the life of the insured. 1983 1130 – Federal Register, Vol.48 No. 231. The suggested rule keys this additional exemptive relief to a “guideline annual premium.” This concept is defined as the…
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