Premium – [BonkNote]

No Premium Due Commissioner Willis (DC) said the trouble with disclosing that the premium might at some point “resume” is that the premium never stopped. It is misleading to make a consumer think the premium is not being paid. [Bonk: Vanishing Premium, Policy Mechanics, Cash Flow, Work) 1994-3, NAIC Proceedings 1983 0206 – Fort Lauderdale News -…

Fractional Premiums Robert G. Ward opened the discussion by describing the basis of fractional premiums introduced by the Provident Mutual late in 1957, at which time a system of quantity discount was announced under which the premium for yearly premium life insurance policies was $2 less per $1,000 on the portion of a policy in…

Net Premium The method of computation of “net premium” is the great insurance secret. We doubt if any legislator or any judge ever solved the problem or guessed the secret. (p66) 1917 – Book – A License to Steal: Life Insurance, the Swindle of Swindles : how Our Laws Rob Our Own People of Billions, by…

Premium Calculation PVFB=PVFP Ratebook Plan of Insurance When it offers a plan of insurance for a specified premium it does so on the basis of an expected level of mortality, interest, withdrawal, expense and taxation in the future. It also recognizes that the future experience levels will vary from those expected at issue through statistical…

Renewal Premiums In this project, we studied a typical universal life (UL) contract issued in the United States. We studied three alternative approaches of recognizing renewal premiums and their effect on expected earnings. The first was to ignore their recognition until received. The second was to recognize the amount of expected renewal premium, while the…

Flexible Premium Chapter 6 provides a comprehensive description of adjustable-premium and flexible premium plans, along with the development of universal life insurance. An introductory description of universal life product features is also given. Black, K. Jr., and Skipper, H.D. Jr. “Flexible-Premium Life Insurance Policies,” Chapter 6 in Life Insurance. 12th ed. Englewood Cliffs, N.J.: Prentice…

Premium Payment Options The complications begin with a very simple question: What’s the premium for Universal Life? It could be almost anything. Then what’s the cash value? That depends on the premium. It is the relationship between the premium and cash value that determines the product characteristics of Universal Life. — Ben H. Mitchell, [Bonk: a…

Vanishing Premium – Legal Cases Vanishing Premium 1999 1223 – hurwitzfine.com/news/coverage-pointers-volume-i-no-13 1995 – MDL-1061 – IN RE: Prudential Insurance Company of America Sales Practices Litigation NJ 04/27/1995 08/03/1995 12/17/2003 2.2 Million People, Settlement $2,200 /person 1996 – MDL -1109 – IN RE: Manufacturers Life Insurance Company Premium Litigation Moskowitz, Barry Ted CAS 02/28/1996 07/17/1996 03/19/2001 1997…

Required Premium NAIC – LIIIWG – Lois Lerner Johnston & Johnston v. Conseco * Paying more than the required minimum premium can help build cash value 2023 – Prudential – Supplementing Retirement Income with Cash Value Life Insurance – Cash Value: Life Insurance in Retirement Planning – 2p (p5) – After receiving these notices, John…

Cost – Index ABCDEFGHIJKLMNOPQRSTUVWXYZ# C Charges COI – Cost of Insurance Cost Costigan v. John Hancock Costs and Illustrations – Walker v LSW Costs of Lawsuit – Walker v LSW Cost Benefit Cost Comparison Cost Disclosure Cost Indices Subgroup – (A) – NAIC Cost of Insurance Cost Structure Cost – Index Back to top E…