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