Naic: Accelerated Benefits Guideline For Life Insurance National Association Of Insurance Commissioners

Definition of "Naic: accelerated benefits guideline for life insurance national association of insurance commissioners"

Ann Raskauskas real estate agent
Ann Raskauskas, Real Estate Agent Bethany Area Realty

Model state law of the NAIC that stipulates that the prospective purchaser of a dread disease insurance policy (catastrophic illness insurance policy) must be provided a quantitative illustration of the accelerated payout's effect on the death benefit, policy loan, premiums, and cash value of the life insurance policy. In addition, the prospective purchaser must be furnished a summary of the accelerated benefits to be provided.


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