Start - Cash Value - Account Value - Reserve - SIV

  • SIV - Self-Insurance Value
  • Cash Value
  • Account Value
  • Benefit Generating Account (BGA)
  • Reserve
  • Benefits Reserve
  • SIV - Self-Insurance Value
  • Gary Sanders (National Association of Insurance and Financial Advisors—NAIFA) agreed that use of the term “cash value” was confusing.

2017 0217,  NAIC Proceedings - LIBGWG Conference Call

2009 - Legal Case -Blumenthal v New York Life

  • 85-1 and 85-7 - Exh 1 and 6 Deposition of Irving Blumenthal - 61p

  • Q (Defendant Lawyer):  When you met Mr. Marlin in January of 1999, did you understand what cash value was?
  • A (Blumenthal - Policyowner):  Cash value is just like a savings account to me.  The cash value was nothing more than a savings account, in my mind. What else is it supposed to be?  (Page 30)

6. THE CONCEPT OF THE BENEFIT GENERATING ACCOUNT <BGA>

  • We have mentioned several times that the function of the account value is to determine future benefits.  (p259)

1983 - SOA - Universal Life Valuation and Nonforfeiture: A Generalized Model, Shane A. Chalke and Michael F. Davlin, Society of Actuaries - 72p