- The main concern was that an unsophisticated buyer purchased a policy and did not know what the coverages, benefits and limitations were.
1988-2, NAIC Proc.
- Current assumptions are critical to interest sensitive products such as Universal Life.
- When interest rates are high, benefit projections (such as cash value) are also high.
- When interest rates are low, these projections are not as attractive.
Benefit Reserves, Benefit Generating Account (BGA), Benefit Generating Function (BGF),
NAIC Recent Working Groups
-Cude LIBGWG? Markup - What does Benefit mean?
-Life Insurance Buyer's Guide.... Do your Premiums or Benefits change?