Conservation Strategies For Permanent And Term Insuranceprograms within the structure of the company, great care should be taken to assure that the real objectives ... merely bringing down the current fever, and will be care- fully matched against the organization's capabilities ...
Description: The panel discussed conservation strategies for permanent and term insurance. Topics included: 1.Impact on in-force business from new products e.g., continuous reduction in ART rails, non-smoker discounts, universal life: increased policy loans?, replacements?, lapses?, surrenders and _exchanges? 2. Responses from companies: e.g. extension of new cost methods to existing policyholders?, Field compensation when replacing existing business?, internal conservation functions?, update programs policyholder/agent communication strategies? applicability of new products to in-force policyholders. 3. Interest groups which must be considered and differences between stock vs. mutual companies? e.g. Policyholder, agent/broker, management, stockholders, prospective policyholder, legal/regulatory forces IRS, SEC, state insurance departments. 4. Appropriate financial considerations and anticipated results? Is stonewalling a viable alternative? GAAP effects statutory effects use of reinsurance field force compensation/survival, anticipated future mortality results, Federal Income Taxes.Hide
- Authors: Richard A Burrows, Robin B Leckie, Walter N Miller, Larry R Robinson, Robert Shapiro, John Yanko, Dale R Gustafson
- Date: Oct 1982
- Competency: External Forces & Industry Knowledge>Actuarial methods in business operations; Relationship Management>Relationships and trust; Strategic Insight and Integration>Big picture view
- Publication Name: Record of the Society of Actuaries
- Topics: Life Insurance>Policyholder behavior - Life Insurance