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Old 03-28-2018, 03:40 PM
JoJo JoJo is offline
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Default Traditional Life Premiums - necessary that annual mode premium is cheapest?

For products such as Term or Whole life, once you factor in policy fees, riders, and modal factors is anyone aware of any law that requires your Annual mode premium to be lower than all modal premiums if you annualized them?
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Old 03-28-2018, 04:30 PM
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For products such as Term or Whole life, once you factor in policy fees, riders, and modal factors is anyone aware of any law that requires your Annual mode premium to be lower than all modal premiums if you annualized them?
I doubt there's such a law. But why would you want some other mode to be cheaper??

(OK, back in the olden days when there were "rate manuals" a company I worked for specifically made sure that auto payment was the least expensive, but it was set equivalent to the annual version.)
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Old 03-28-2018, 05:26 PM
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For products such as Term or Whole life, once you factor in policy fees, riders, and modal factors is anyone aware of any law that requires your Annual mode premium to be lower than all modal premiums if you annualized them?
So, for Reg XXX, would you still be using the gross annual premium as opposed to the annualized premium to calculate the alt-min reserve?
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Old 03-29-2018, 12:51 PM
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Thanks. Our legal and compliance haven't come up with anything preventing this either but I thought I might crowd source.
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