Life Insurance Illustration Questionnaire
Form whose purpose it is to help the agent and the prospective policyowner judge the validity of the insurance company's policy illustrations. This questionnaire's focus is on the nonguaranteed elements of the policy and how these nonguaranteed elements compare with the company's current experience. Some of the questions this questionnaire seeks to answer include:
- To what degree are the mortality rates in the illustration reflective of the true mortality rates that the company is currently experiencing?
- To what degree are the interest rates in the illustration reflective of the true interest rates that the company is currently experiencing? Upon what is the interest rate to be based (new money or portfolio average)?
- To what degree are the expense charges in the illustration reflective of the true expense charges that the company is currently experiencing? Are these expense charges significantly understated in the illustration?
- To what degree are the persistency rates in the illustration reflective of the true persistency rates that the company is currently experiencing? Are these persistency rates significantly understated in the illustration, thereby increasing policy cash value?
Popular Insurance Terms
In general, a civil wrong, other than breach of contract, for which a court will provide a remedy in the form of a suit for damages. Torts include negligent acts or omissions on the part of ...
Insurance policy for which the required premium has been paid. ...
Over a long period of time, the average loss an individual, individuals, or an organization can expect to incur from a particular exposure. ...
Share of a variable dollar annuity paid to an annuitant as an income payment. ...
new dividend option under which the policyowner allows the dividends from the participating policy to be applied for the purposes of accumulating cash values. ...
in PERSONAL PROPERTY insurance, coverage is for personal property items that are movable, that is, not attached to the building's structure (the home), such as television sets, radios, ...
For loss of an obligee in the event that the principal fails to perform according to standards agreed upon between the obligee and the principal. ...
Legal case in which the United States Supreme Court held that pension assets are to be excluded from the bankruptcy estate of the plan participant. ...
One of four SEC divisions charged with regulating investment companies, investment advisers, and variable insurance products. The SEC requires variable insurance products to register with ...
Have a question or comment?
We're here to help.