Premium – Page 2 – [BonkNote]

Minimum Premium An approach which seems to be gaining in popularity expresses commissions as a percent of a target or a minimum premium. — Christian J. DesRochers 1983 – SOA – Universal Life (RSA83V9N212), Society of Actuaries – 24p 2. As admitted by Joel Kuni, Farmer’s Product Development Actuarial Manager, in his deposition of 5-7-2003, at page…

Financed Premiums Financed Insurance A. What lapse experience has developed on business financed at or near issue through either policy or bank loans? B. Is the amount of such financed business increasing or decreasing and, if so, why? What measures have been taken to limit the amount of such business and what are their merits…

Premium Taxes The States feared the loss of large revenues received from taxation of the insurance business.1 (p221)’ 1948 – LR – Statutory Regulation of Life Insurance Investment, by W. Page Keeton, Yale – 21p As you may know, Alabama has a $1.3 billion per year insurance business, resulting in $240 million of insurance premium…

Premiums and Benefits – Index ABCDEFGHIJKLMNOPQRSTUVWXYZ# B Benefits Benefits – Actuarial Benefits – Consumer Representatives Benefits – Index Benefits – Industry Groups Benefits – NAIC / Regulators BGA – Benefit Generating Account BGF – Benefit Generating Function Back to top C Coverage Period – Examples Back to top D Dynamic Back to top G Guaranteed…

Premium – Regulator – Universal Life Commissioner Hager of the Universal & Other Plans (A) Task Force stated that there appeared to be disclosure problems with universal life plans and that the identification of these items should be placed on the Actuarial Task Force agenda. Some of the items identified which should be disclosed: (2)…

Premium – Consumer – Universal Life The agent said that Universal Life policy premiums would stay the same, but I came to realize that this is not true of our policies. …what bothers me is that I am afraid that this same misleading information may be the basis of my children’s and grandchildren’s … planning……

Premium – Actuarial – Universal Life The complications begin with a very simple question: What’s the premium for Universal Life? It could be almost anything. Then what’s the cash value? That depends on the premium. It is the relationship between the premium and cash value that determines the product characteristics of Universal Life. — Ben…

Guideline Annual Premium In short, Petitioner <ACLI> states, the guideline annual premium equals the annual premium necessary to keep the policy in force for the life of the insured. 1983 1130 – Federal Register, Vol.48 No. 231. The suggested rule keys this additional exemptive relief to a “guideline annual premium.” This concept is defined as the…

Indeterminate Premium The product revolution, in my mind, began in the 1970s with the introduction of indeterminate premium products. The introduction of universal life in the early 1980s really did create a revolution. We’ve seen more product change and more increasing frequency of product change in the 1980s than ever before. — William R. Britton,…

Guideline Premium Guideline Premium Forceouts Federal Register 1987 – Volume 52, Issues 62-67, p11201 – Guideline Premium Technical Corrections Act of 1988 – Hearing Before the Committee on Finance, United States Senate, One Hundredth Congress, Second Session, on S. 2238 and H.R. 4333, July 13, 1988 · Volume 4