Special Plans

  • 1982-2, NAIC Proc. - A new exposure draft of a revised model regulation has been prepared by the staff of the American Council of Life Insurance [ACLI]
    • The following are among the principal features incorporated in the revised draft:
      • The introduction of the concept of a nonguaranteed element to measure the extent to which policy costs can be affected by premiums, benefits, or other items that are subject to change by the company without the consent of the policyholder.
      •  A special plans section to accommodate the unique features of nontraditional plans such as universal life insurance.
  • 4a Special Plans - Universal Life - Review Regulators Problems with Model Adopted (Universal and Other New Plans Task Force)

1988-1, NAIC Proceedings

  • Ratebook Examples
  • 4. Special Life Insurance Plans
    • This topic corresponds to the topic "Varying Gross Premium Plans" which was included in the June 1980 report of the (C4) Technical Subcommittee
    • It should be noted that some of the matters mentioned under the "Varying Gross Premium Plans" topic in the June 1980 report would be resolved by the recommended revision of the Standard Valuation Law and the Standard Nonforfeiture Law for Life Insurance. It should also be noted that the (C4) Technical Subcommittee now intends to consider Single Premium Life Plans with Specified Minimum Death Benefits, as one of the "Special Life Insurance Plans".
    • The topic also includes varying premium plans such as Adjustable Life Insurance Plans, Completely Flexible Life Insurance Plans (sometimes referred to as "Total Life Plans" or "Universal Life Plans") and Indeterminate Premium Life Insurance Plans.

1981-4 NAIC Proc.

  • 4. LIFE, ACCIDENT, AND HEALTH (C) COMMITTEE; Life Insurance (C3) Subcommittee - variable amount plans.
    • 4. Variable life.
    • 5. Other special plans such as:
      • a. Split life
      • b. Deposit Term.

1974-2, NAIC Proceedings

  • In addition, a revised Buyer's Guide has been developed and is proposed for adoption as part of the new model regulation.
  • The revised draft includes annotations indicating the source and background of the changes being proposed to the current model regulation.
  • This proposal would incorporate the following new features into the model regulation:
    • 2. A special plans section to accommodate the unique features of nontraditional plans such as universal life insurance.

1983-4, NAIC Proceedings

  • B. What are the advantages and disadvantages of freely making quotations for special plans not in the rate book?
    • How far is it advisable for a smaller company to go toward making such quotations?

1953 - SOA - Agency Problems--Resulting From Special Policies, Society of Actuaries - 3p