Term
| a generic name for a nonparticipating policy that permits the insurer to adjust premiums based on anticipated future experience |
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Definition
| indeterminate-premium whole life policy |
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Term
| in an indeterminate-premium whole life policy, the maximum premium that can be charged is stated |
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Definition
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Term
| the actual premium paid when the policy is issued is considerably lower than the maximum premium in the policy and may be guaranteed for some time period in |
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Definition
| indeterminate-premium whole life |
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Term
| the intent of actual premiums paid being lower than the max premium stated is to have actual premium paid reflect |
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Definition
| current market conditions |
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Term
| after the initial guaranteed period expires, the insurer can increase premiums up to the max limit if future anticipated experience with mortality, investment, and expenses is expected to |
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Definition
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Term
| if future experience is expected to remain similar to past experience, premiums may |
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Definition
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Term
| if future experience is expected to improve, then the insurer can further |
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Definition
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