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MTHEL 131 (32)
Chapter 4

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Department
Mathematics Electives
Course
MTHEL 131
Professor
Dave Oakden
Semester
Spring

Description
Recent Life Insurance Product InnovationsMay 13 2014522 PMInsurance Company Reactions Recent life insurance product innovation and competition against banksmutual funds for consumers investment dollarsPotentially Lower Cost Coverage Look for expense controlInvest for higher returns leads to riskIndeterminate premium plansnot settled plansIC strives for low premium but can raise rate up to guaranteed maxRates can only be changed on class wide basis not for any individual policyMore refined classification systemsGive healthier applicants lower rates not fair to give healthy people same charger as unhealthyLed to reentry products laterProvisions to encourage persistency Early lapses slip downs cost money remember asset shares leading toHigher surrender charges in case of early lapses Bonuses for p
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