20 HS 323 Summary

10 HS 323 Summary

19 HS 323 Summary

03 HS 323 Summary

08-11-Calculate policy surrender values using the adjusted-premium method, and interpret the results in terms of the extent to which first-year expenses have been amortized.

08-08-Describe the possible approaches to a withdrawing policyowner's equitable treatment, including any adjustments that might be made to a policy's asset share in implementing those approaches.

08-12-Explain how surrender values are determined for nontraditional products such as universal life insurance.

08-06-Describe the structure, characteristics, and functions of the four fundamental settlement options.

08-09-Describe the requirements the Standard Nonforfeiture Law imposes on surrender values.

08-05-Explain the settlement agreement provisions concerning contract and current rates, rights of withdrawal and commutation, and minimum-amount requirements.

08-04-Describe the basic settlement option choices available to policyowners and policy beneficiaries.

08-10-Explain the philosophy underlying the adjusted-premium method, how a surrender value is computed with that method

07-04-Describe and understand variable universal life insurance policies.

08-03-Understand the underlying concepts and rules of settlement options.

08-02-Explain how policy loans affect surrender options, especially extended term insurance.

07-01-Describe the features of variable life, and understand its dual regulation status.

07-02-Be aware of the variable adjustable life policy and its features.

04-01-Describe and understand the nature and features of term life insurance.

05-04-Explain how some policies may be considered different because of insurer underwriting.

08-01-Describe and understand each of the surrender options required in policies with cash values.