(redirected from Net Amount At Risk)
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References in periodicals archive ?
Reinsurance is designed to enhance the ceding company's surplus position and financial strength, and reduce the net amount at risk on specific risks.
One ramification of this extra death benefit is a "levelization" of the policy's net amount at risk along the required minimum CVAT corridor and typically results in a maximization of possible Cost of Insurance charges.
While net amount at risk has improved significantly, legacy blocks of VA remain a tail risk concern, given the unknown of policyholder behavior and potential for a market correction.
* The "net amount at risk" (death proceeds in excess of cash value) will be received income tax free by the plan beneficiary.
Thus, in the latter case, the switch does not affect the net amount at risk (i.e., the difference between the death benefit and cash value) at the switch exercise time; as a result, there are usually no special requirements or fees involved in making this type of switch (see Smith and Hayhoe, 2005, p.
(The use of cash values and death benefits for LTC payments is considered a form of "self-funding.") The accelerated benefit, whether paid from the net amount at risk or from the rider providing separate LTC coverage, will be entitled to favorable tax treatment provided the contract is a "qualified long-term care insurance contract" (QLTCI).
By comparison, a WL policy and most accumulation UL policies focus on higher-premium funding and have large cash values at older ages, resulting in a very small net amount at risk.
Thus, as policyholders got older, the "net amount at risk" to the insurance company (the difference between the cash value and the face amount) would decline while the reserve built up tax free.
Cost of insurance (COI) charges -- monthly charges for mortality, administration, marketing and other expenses -- are assessed against a life insurance policy based on the insured's attained age, the original rating class, and the current net amount at risk. In most cases, carriers deduct the cost of insurance from premium payments before crediting interest to the contract.
For example, if the monthly claim amount for the sample policy is $4,167 (l/24th of the lace amount), there will be changes that occur to the policy's Face Amount, Account Value and Net Amount at Risk (See Table 1).
First, we investigate the effects of financial vulnerability on the households' demand for net amount at risk, term life insurance and total life insurance.
The cost of insurance (COD is computed by taking the monthly COI rate for the particular age/smoker/risk category times the "net amount at risk" to determine the monthly mortality charge.