Term
| also called interest-sensitive whole life insurance |
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Definition
| current assumption who life insurance |
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Term
| is a nonparticipating whole life policy in which the cash values are based on the insurer's current mortality rate |
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Definition
| current assumption whole life insurance |
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Term
| a policy that does not pay dividends |
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Definition
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Term
| in a current assumption whole life policy, an accumulation account reflects |
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Definition
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Term
| in a current assumption whole life policy, what account is credited with premiums paid less expenses and mortality charges plus interest based on current rates? |
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Definition
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Term
| in a current assumption whole life policy, if the policy is surrendered, a surrender charge that declines over time is deducted from the |
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Definition
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Term
| in a current assumption whole life policy, why is a surrender charge deducted from the accumulation account if the policy is surrendered? |
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Definition
| to determine net cash-surrender value |
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Term
| in a current assumption whole life policy, the minimum cash values are based on the |
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Definition
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Term
| is credited with a higher interest rate based on current market conditions and company experience |
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Definition
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Term
| in a current assumption whole life policy, a fixed death benefit and maximum premium level at the time of issue are |
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Definition
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Term
| under the low-premium version of current assumption whole life policies, the initial premium is substantially lower than the premium paid for a |
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Definition
| regular, nonparticipating whole life policy |
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Term
| is initially guaranteed only for a certain period of time |
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Definition
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Term
| after the low premium period expires, what allows the insurer to recalculate the premium? |
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Definition
| redetermination provision |
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