Starters-Cash Value

  • Cash Value
  • Account Value
  • Benefit Generating Account (BGA)
  • Reserve
  • Benefits Reserve
  • SIV - Self-Insurance Value
  • The lack of understanding of cash value products was evidenced by the fact that the majority of people could not understand why, in Chart A, if you continue to pay your premium, the benefit would run out before age 95...  (p467)

1990-1A -  NAIC Proceedings - NAIC / LIMRA Focus Group - Universal Life Disclosure Form Test Market Results - 10p

Gary Sanders (National Association of Insurance and Financial Advisors—NAIFA) agreed that use of the term “cash value” was confusing.

2017/2/17 - LIBGWG Conference Call 

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 - UNIVERSAL LIFE VALUATION AND NONFORFEITURE: A GENERALIZED MODEL, SHANE A. CHALKE AND MICHAEL F. DAVLIN, Society of Actuaries