(redirected from Net Single Premium)
NSPNeighborhood Stabilization Program
NSPNature's Sunshine Products
NSPNetwork Service Provider
NSPNinja Sex Party (musical comedy duo)
NSPNational Ski Patrol
NSPNatural Swimming Pool
NSPNational Strategic Plan (various organizations)
NSPNative Service Point
NSPNaming Shim Provider
NSPNetwork Service Point
NSPNetwork Services Platform
NSPName Space Provider
NSPNational Service Provider
NSPNumeric Space
NSPNetware Lite Sideband Protocol
NSPNetwork of Spiritual Progressives
NSPNarrow Spot (stage lighting)
NSPNative Service Processing
NSPNevada State Prison (Carson City, NV)
NSPNetwork Services Protocol
NSPNordic Service Partners (various locations)
NSPNorthern States Power Company
NSPNotch Signaling Pathway
NSPNational Solidarity Programme (Afghanistan)
NSPNational Scholarship Program (various locations)
NSPNon-Starch Polysaccharides
NSPNeurotoxic Shellfish Poisoning
NSPNode Switch Processor (Cisco)
NSPNet Sale Proceeds
NSPNederlandse Sport Pers (Dutch: Dutch Sports Press)
NSPNeck/Shoulder Pain
NSPNet Selling Price
NSPNova Scotia Power
NSPNeedle/Syringe Program
NSPNative Signal Processing
NSPNational Solidarity Party (Singapore)
NSPNewborn Screening Program (various locations)
NSPNet Single Premium (insurance)
NSPNull Subject Parameter (linguistics)
NSPNavigation Service Provider
NSPNot Separately Priced
NSPNepal Sadbhavana Party (Nepal)
NSPNational Security Project (various organizations)
NSPNatural Science Program (various organizations)
NSPNorthern State Parkway (New York)
NSPNew Society Publishers
NSPNorth Saint Paul (Minnesota)
NSPNetilla Security Platform (AEP)
NSPNetwork Signal Processor
NSPNews Service Provider
NSPNational HIV/AIDS Strategic Plan
NSPNational Sleep Products (Wayne, NE)
NSPNetwork Solution Providers (various locations)
NSPNational Stuttering Project
NSPNetwork Service Part (SS7 SCCP)
NSPNorthumberland Strategic Partnership (UK)
NSPNative Sound Processing
NSPNortheast Sailplane Products (Vermont)
NSPNational Search and Rescue Plan
NSPNetwork Service Point (Cisco)
NSPNorthumbrian Small Pipe (music)
NSPNational Sisterhood of Presvyteres (Greek Orthodox Archdiocese of America)
NSPNigeria Society of Physiotherapy
NSPNavy Strategic Plan (UK MoD)
NSPNavigation Systems Panel (ICAO)
NSPNASA Support Plan
NSPNon-Stop Production (Brooklyn, NY)
NSPNetwork Service Processor
NSPNational Science Partnership (Girls Scouts of America/Franklin Museum)
NSPNittetsu Steel Pipe (Japan)
NSPNormal Safety Precaution (firearms)
NSPNaval Station Pascagoula (US Navy; Pascagoula, MS)
NSPNative Signal Processor
NSPStichting Nederlandse Sport Pers Service
NSPNational Signatures Program
NSPNational Signaling Point (CCS #7 ITU-T)
NSPNetwork Security Plan
NSPNetwork Switch Processor (Cisco)
NSPNavy Support Plan
NSPNetwork Support Plan
NSPNon Standard Parameter
NSPNuclear Strike Plan
NSPNine Story Plunge (band)
NSPNetilla Service Platform
NSPNext Sequential Prefetching
NSPNATO Standardization Program
NSPNational Selection Process
NSPNetwork Security Perimeter
NSPNovell Script Page(s)
NSPNational Socialist Policy
NSPNaval Support Plan
NSPNon-Standard Holding Pattern
NSPNewmark Security Products (UK)
NSPNetwork Supervisory Packet
NSPNon Surgical Procedure
NSPNo Silent Period (radio broadcasting)
NSPNormal Safety Procedure(s)
NSPNavy Space Project
NSPNon-Standard Price
NSPNATO Strike Plan
NSPNuclear Surety Procedure
NSPNikkei Spot Price
NSPNASCAR (National Association for Stock Car Auto Racing) Speedpark (various locations)
NSPNode Set Partitioning (algorithm)
NSPNetwork Security Pod (NDG)
References in periodicals archive ?
If the change occurs during the five-year period beginning on the issue date of a traditional life policy (that is, a policy that originally qualified under IRC Section 7702 by satisfying the cash value accumulation test), the recapture ceiling is the excess of the cash surrender value of the contract immediately before the reduction over the net single premium immediately after the reduction.
* Cash Value Accumulation Test--A life insurance policy satisfies the CVAT if, by its terms, the cash surrender value of such policy may not at any time exceed the net single premium that would have to be paid at such time to fund future benefits under the policy.
The guideline single premium is similar to the net single premium discussed above, and is determined using a) an interest rate of 6 percent, or the rate guaranteed in the policy; b) the mortality charges specified by the policy; and c) any other charges specified by the policy.
For a contract that has been materially changed, the seven pay premium for each of the seven years following the change is reduced by the cash surrender value of the contract as of the effective date of the material change multiplied by a fraction, the numerator of which is the seven pay premium for future benefits under the contract and the denominator is the net single premium for future benefits under the contract.
To satisfy the cash value accumulation test, the cash surrender value of a contract, according to its terms, must not at any time exceed the net single premium that would be necessary at such time to fund future benefits (death benefits, endowment benefits, and charges for certain additional benefits, such as disability waiver) under the contract.
Cash value accumulation test: A contract meets the cash value accumulation test if, by the terms of the contract, the cash surrender value of the contract may not at any time exceed the net single premium that would have to be paid at that time to fund future benefits under the contract.
The death benefit under what is called the net single premium approach "is periodically adjusted" so that it matches the amount of insurance that could be purchased with a single premium equal to the cash value, assuming guaranteed mortality rates and a low rate of return, typically 4%.
ii) the net single premium for such benefits computed using the same assumptions used in determining the seven-pay premium.
It also recommends including an actuarial calculation that would add a 7% load to the net single premium used in the denominator in one of the steps used in calculating reserves.
7702 (e.g., the net single premium, the guideline premium limitation and the cash value corridor must be redetermined).(20) Thus, since payment of an ADB constitutes a reduction in death benefits, a contract that formerly qualified as a life insurance contract under Sec.
In the short term, it recommends adopting the current AG 38 with the following modifications: applying it from July 1, 2005; labeling it "temporary" and creating an April 1, 2007, sunset; and, including an actuarial reserving calculation that would "add a 7% load to the net single premium used in the denominator in one of the steps used in calculating reserves."
* net single premiums, guideline premiums and seven-pay premiums will be reduced, requiring more insurance per dollar of premium or cash value to meet the limitations on life insurance in the Internal Revenue Code; and