Premium – Page 4 – [BonkNote]

UL – Premium COMMON / PARADIGM Media Universal life insurance, like whole life insurance, is a type of permanent life insurance policy that accumulates tax-deferred cash value. The policy stays in effect for as long as you remain alive and pay the premiums. https://www.usnews.com/360-reviews/life-insurance/universal-life-insurance PROBLEM? Legal Case “John <Plaintiff – Policyowner> contacted Glasgow <Agent>, who had…

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…

Premium Due Date …this was done because (1) the concept of a “premium due date” was thought to be inapposite to flexible premium policies. 1983-1, NAIC proceedings def. inapposite: out of place; inappropriate [Lawsuits] 2018 – LC – Elhouty v Lincoln Benefit, United States Court of Appeals, Ninth Circuit, Google Scholar 2010 – LC -…

Scheduled Premium Section 15. Schedule Premium Policy. The definition of a “scheduled premium policy” was added by the 1983 amendments to the Model Regulation. It is intended and to establish the perimeters of contemporary “traditional” variable life insurance policies. Specifically, a variable life insurance policy is classified as a “scheduled premium” policy if the insurer…

Vanishing Premium Vanishing Premium – Lawsuits Robert Beck, Prudential, Chairman and Chief Executive Office RE: Vanishing Premium (p6069) – Under some permanent insurance, contracts being sold today, the chances are you could stop paying after 7, 8, or 9 years and the insurance would remain in force for the rest of your life without further…

Charges 198x – NAIC LIBG – ACLI = Scribe, vs 199x NAIC LIBG – Cude, Kite, Regulators = Scribes Legal Cases Walker vs LSW Per Thousand NAIC – Universal Life Model Regulation (MDL-585) – (p4) The benefit charges shall include the charges made for mortality and any charges made for riders or supplementary benefits for…

Price Cost – Index Price-Fixing Pricing Pricing Assumptions Until the buyer understands how the product works, attempts to compare price are essentially meaningless. 1972 – SOA – Life Insurance and the Buyer by Anna Rappaport, Society of Actuaries – 2p-Article I believe that there is an urgent need for the life insurance industry to answer the accusations of its critics who…

Target Premium Target Premium – Walker v LSW If your training process for your agents is to sell at target premium, for example, and target premium carries the policy to maturity at a 7 percent rate, if you’re only crediting 6, it’s not making it there. So keep an eye on how you’re training your…

Planned Premium Planned Premium For UL and VUL Plans, this is the Amount of Annual Premium that the Policyholder Plans to pay at Issue. Typically this is the Billed Amount. For Whole Life and Term Plans, this is the Annual Required Premium. 2006 – SOA – Minimal Policyholder Behavior Format, Society of Actuaries – 4p…

Guaranteed Premium and Benefits Patterns Summary 7 results (0.32 seconds) 5/24/2020 – Google Search life insurance disclosure – NAIC Delivery of the Guaranteed Premium and Benefits Patterns Summary shall be consistent with the time for delivery of the Buyer’s Guide as specified in Paragraph … ACLI Comments 6/21/19 – NAIC Jun 21, 2019 – and Guaranteed Premium and Benefits…