Current Assumption Whole Life Insurance


Definition of "Current assumption whole life insurance"

Gene Barginear real estate agent
Gene Barginear, Real Estate Agent U-Sell By Owner- Residential Brokerage

Variation of ordinary life insurance under which current mortality experience and investment earnings are credited to the insurance policy either through the cash value account and/or the premium structure (in a stock company) or the dividend structure (in a mutual company). Regardless of whether a company is stock or mutual, the policy has these characteristics:

  1. premiums are subject to change based on the experience (mortality, expenses, investment) of the company. The policyowner does notexercise any control over the changes.
  2. a policyowner can use the cash value to make loans just as with traditional ordinary life insurance.
  3. a minimum amount of cash value is guaranteed, just as with traditional ordinary life insurance.
  4. the death benefit does not fluctuate.
 

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