Overfunded
- Consider that there are really two parts to the fund value, at least for a policy that is "over funded" (i.e., has a fund value greater than the GMF).
- The first part is equal to the GMF.
- The second part we might call the excess fund, and it is equal to the excess of the fund value over the GMF.
- [Bonk: GMF - Guaranteed Maturity Fund]
-- James W. Lamson
1988 - SOA - Update on Universal Life Reserves and Non-Forfeiture Values, Society of Actuaries - 36p
- If the maximum COIs were based on the select and ultimate table, policyholders paying guideline premiums based on the ultimate table could overfund the contract.
2002 - SOA - The New 2001 CSO: Implications for Universal Life Plans, by Nancy Winings - 6p