Premium – Page 4 – [BonkNote]

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…

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…

Guaranteed Gross Premium Guaranteed Maturity Premium (GMP) For purposes of determining the guaranteed gross premiums used in the demonstration in Section 6.B.2: a. For universal life policies, the guaranteed gross premium shall be the premium specified in the contract, inclusive of any applicable policy fee, or if no premium is specified, then the level annual…

GMP – Guaranteed Maturity Premium The Model Regulation assumes that future premiums will be paid at the whole life level, and calls this premium the GMP [the guaranteed maturity premium]. [Bonk: Universal Life Model Regulation – NAIC] — Shane Chalke 1984 – SOA – NAIC Update, Society of Actuaries – 24p A regulator had told them that…

Guideline Level Premium 7702 International Revenue Code (IRC) 1996-x, NAIC Proceeding 10 If the guideline level premium will not provide coverage to the end of the term of the contract, does the illustration have to display the annual term charges allowed by § 7702 or can the illustration explain that the coverage will terminate? See…

Premium Per Thousand For cost comparison purposes, the natural unit price for insurance is dollars of Premium per thousand dollars of death benefit per year—adjusted as appropriate and cash surrender values. — [ACLI] American Council of Life Insurance, on the FTC Staff’s Responses to Criticisms of the Report of the Report on Life Insurance Cost Disclosure …

Premiums Premiums – Index Richard Weber, Merrill Lynch Life … suggested that the illustration show … how the policy values are paying the premium. Mr. Morgan said that this issue needs specific attention because many complaints were received in the state insurance departments on this issue. (p521) 1994-3, NAIC Proceedings – Life Disclosure Working Group…