Guarantee – Page 2

Guaranteed Nonguaranteed GICS – Guaranteed Investment Contracts Guarantees Guaranteed Maturity Fund (GMF) Guaranteed Maturity Premium

Nonguaranteed Non-Guaranteed Elements NONGUARANTEED PREMIUM He questioned the appropriateness of taking non-guaranteed elements and making them guaranteed as suggested as a penalty in the white paper. 1993-3, NAIC Proceedings Our Lexington report alluded to the controversial issue of nonguaranteed policy element illustrations. Currently the issue is being addressed by four different groups: NAIC – this…

Guarantees Guarantees Only 2005 – SOA – What’s Backing Your Life Insurance Guarantee? – [LINK]

GICs – Guaranteed Investment Contracts FABN – Funding Agreement-Backed Note GICS – AIG – FCIC GIA’s Guaranteed Interest Contracts Stable Value Unallocated Annuity Contracts 412(i) 1991 0903 – NYT – Worry Over Retirement Funds, By Eric N. Berg – [link] GIC’s, Executive Life, Mutual Benefit Also, you had a lot of different interests in Executive Life.…

Start – Non-guaranteed Elements 2017/11/6 – LIBGWG – NAIC Conference Call American Academy of Actuaries – “Because NGEs <Non-Guaranteed Elements> are likely to change, the ongoing performance of products with NGEs should be reviewed periodically after purchase to assess the impact of any NGE changes and consider actions that policyholders may wish to take (e.g.,…

Universal Life with Secondary Guarantees (ULSG) The Universal Life contract with secondary guarantees has been one of the most controversial life insurance products introduced in the United States. 2014 04 – Model Validation for Insurance Enterprise Risk and Capital Models, Sponsored by CAS, CIA, SOA Joint Risk Management Section, prepared By Markus Stricker, Shaun Wang,…

Nonguaranteed Premium (Policy) Nonguaranteed Premium Policies Cash values and death benefits under these policies are guaranteed, but their premiums are not. These policies contain a guaranteed “maximum premium”, but the company anticipates charging a lower premium. The company will illustrate the cost based on the premium it currently expects to charge. Your actual cost will…

NGEs – Non-Guaranteed Elements – AAA – American Academy of Actuaries actuary.org/committees/dynamic/NGEWG Non-Guaranteed Elements Subcommittee 1980s – AAA – American Academy of Actuaries Task Force on Non-Guarantee Elements, William T. Tozer, Chair 2000s – AAA – American Academy of Actuaries Non-Guaranteed Elements Working Group The Non-Guaranteed Elements Work Group will review actuarial standards of practice,…

NOLHGA – National Organization of Life and Health Insurance Guaranty Associations nolhga.com National Organization of Life and Health Insurance Guaranty Associations NOLHGA was created in 1983 nolhga.com/factsandfigures/main.cfm/location/insolvencies/orderby/date#sort nolhga.com/pressroom/journal.cfm These events, of course, were the reasons that NOLHGA was created (under the auspices of the ACLI). 2006 0803 – DOTT- Remarks of David G. Nason Deputy…

GMF – Guaranteed Maturity Fund The guaranteed maturity fund at any duration is that amount which, together with future guaranteed maturity premiums, will mature the policy based on all policy guarantees at issue. NAIC – Universal Life Insurance Model Regulation (#585): – 22p Shane Chalke ULMR – Universal Life Insurance Model Regulation – MDL-585 –…