PremiumsandBenefits – Page 5

Coverage Period – Examples 1994-3, NAIC Proceedings – Sample Policy Illustrations (Attachment Four-C) – VanLeer – John Hancock – p547-563 – 17p 10 Mr. Blumenthal should have also realized that if he needed coverage to last more or less than what was in the illustration, that all he would need to do is adjust his premium funding levels.

As long as you pay the premium…. Coverage Period Coverage Period – Examples ….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] Let’s review the basic mechanics of Universal Life. The policy does not lapse if a premium is…

Premiums – Index ABCDEFGHIJKLMNOPQRSTUVWXYZ A As long as you pay the premium Back to top C Charges Cost – Index Back to top F Flexible Premium Fractional Premiums Back to top G GLP – Guideline Level Premium GMP – Guaranteed Maturity Premium Graded Premiums Guaranteed Gross Premium Guaranteed Premium and Benefits Patterns Summary – NAIC…

Benefits – Industry Groups In the alternative he <Coleman-Prudential> suggested that the provision be reworded to say: “The annual report shall provide notice that the policyholder may request an illustration of current and future values and benefits.” 2000-3, NAIC Proceedings An agents’ association representative <Robert M. Nelson (NALU, NAIFA)> reported that his group was concerned about…

Benefits – Consumer Representatives 􀁸 How much do the benefits build up in the policy? 􀁸 How will the timing of money paid and received affect interest? 2018 – LIBGWG – Cude Letter / Markup Life Insurance Buyer’s Guide – Revised 2-9-18 for discussion on conference call 2-22-18 1994-2, NAIC Proceedings – June 13 -…

Benefits – Regulators So I think that the NAIC is going to have to relook at the whole issue of life cost disclosure. It is an issue that will not go away. As long as the internal benefits of a policy are not reflected in the premium, people need help in measuring those benefits. That…

Benefits – Actuarial 2017 1115 – Letter – AAA to LIBGWG – Re: Life Insurance Buyer’s Guide Q&A Draft 8/1/17, American Academy of Actuaries, Life Insurance Buyer’s Guide Working Group (A) – NAIC – 2p Universal life also allows for flexibility in policy benefits, not just premium payments. Maybe he is not getting all the…

P1P2 P1P2 – Grid P1P2 – Actuarial P1P2 – Legal Case – Maloof v John Hancock P1P2 – NAIC P1P2 – NAIC – Life Insurance Buyer’s Guide Start – Policy Cash Flow Mechanics P1->P2->SIV P1->SIV->P2 Roger Strauss (Iowa) said a fundamental issue was that the consumer realize that the premium is being paid from someplace. …

Benefits The main concern was that an unsophisticated buyer purchased a policy and did not know what the coverages, benefits and limitations were. 1988 0603 – Universal & Other New Plans (A) Task Force – NAIC – Attachment Two 1988-2, NAIC Proc. Nonforfeiture Premium Benefit Pattern – Examples Benefits – ACLI Benefits – Actuarial Benefits…

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…