Dots - Policy Summary
- The computer-produced policy specifications page shows the face amount, gross premium, protection period, and premium paying period.
-- Alice M. Neenan
1978 - SOA - Adjustable Life Products, Moderator: Samuel H. Turner, Society of Actuaries- 20p
STATEMENT ON BEHALF OF THE AMERICAN COUNCIL OF LIFE INSURANCE TO THE NAIC (A) COMMITTEE'S TASK FORCE ON LIFE INSURANCE COST DISCLOSURE, December 15, 1981
- ... the policy summary should include a statement on the point at which the policy will expire based on the policy guarantees and the anticipated premiums shown in summary.
1982-1, NAIC Proceedings - ACLI Paper on Cost Disclosure for Universal Life Products - 4p
- Because the flexibility of UL policies gives the policyholder premium options through time, the insurance company provides the policyholder information - through policy illustrations, the policy form and annual correspondence - showing how the flexibility in premium funding enjoyed by the policyholder affects the duration of coverage.
- The policyholder then has the responsibility to review the information provided by the insurance company and take advantage of the premium flexibility to extend or reduce how long he or she may want coverage to last.
-- Expert Report - Defendant
2008 - Legal Case - Blumenthal v New York Life
Case 5:08-cv-00456-F Document 82-1 Filed 05/26/10 Page 5 of 24