|
- EXAM SIMULATOR XCEL COURSE PART 3 Flashcards | Quizlet
Reasonable expectations is a legal principle If a life insurance applicant is shown future premiums are to be paid out of non guaranteed values, the illustration used in the sales presentation MUST DISCLOSE THAT PREMIUM PAYMENTS MAY NEED TO BE RESUMED DEPENDING ON ACTUAL RESULTS
- A life insurance illustration showing future premiums being paid out of . . .
If a life insurance applicant is shown future premiums are to be paid out of non-guaranteed values, the illustration used in the sales presentation MUST a) Clearly disclose the potential risks and uncertainties
- untitled [content. naic. org]
If the applicant plans to use dividends or policy values, guaranteed or non-guaranteed, to pay all or a portion of the contract premium or policy charges, or for any other purpose, the illustration may reflect those plans and the impact on future policy benefits and values
- Life Insurance Policy Illustrations - Local Life Agents
A life insurance Policy Illustration will reveal how various life insurance products work This material includes details that are relevant to an applicant’s age, gender, underwriting rate class, level of risk, and likely premiums
- Guidance for Life Insurance Policy Illustrations
Typically, in this situation an illustration displayed on a computer screen is used in the sale of a life insurance policy, but the applicant is not furnished a hard copy of the illustration at time of application
- Life Insurance Illustrations Regulation - Vermont
(2) "Non-guaranteed elements" means the premiums, benefits, values, credits or charges under a policy of life insurance that are not guaranteed or not determined at issue
- PART 5. LIFE INSURANCE ILLUSTRATIONS REGULATION SUBCHAPTER 3 . . .
"Non-guaranteed elements" means the premiums, benefits, values, credits or charges under a policy of life insurance that are not guaranteed or not determined at issue
- Understanding Life Insurance Illustrations - Journal of Accountancy
The exhibit at the end of this article shows the guaranteed and nonguaranteed values and other policy information for a female nonsmoker age 65 purchasing $1 million of universal life insurance
|
|
|