National Association of Insurance Commissioners
7/29/2019 CEJ Comments on 5/15/2019 Term Life Sample Policy Overview[Insert Generic Name of Term Policy]: Summary of Key Features, Benefits and Costs[Insert Name of Insurance Company and Company Product Name] [Insert Name of Term Policy] DisclosureThis document lists this product’s key features, benefits and costs. You can get a similar summary of key product features from other insurance companies to help you compare similar products. If you have questions about this particular life insurance product, ask the agent, broker, advisor, or a company representative offering this product for clarification. If you have questions about life insurance products generally or about company or agent licensing, contact [insert name of state department of insurance].Prepared by Insurer/Agent [insert name and address] for [Name of Insured]Contact Information for Insurer/Agent: [e-mail and phone[Information We Use to Set Your Premiumabout the InsuredCost Information Name: Note: Suggest that this section be moved down and the Policy Information and Death Benefit section be moved up.Premium Payment OptionsInitial Premium Model: Age and Gender: Annual:Quarterly:Monthly:Can Does the Premium ChangeVary after the First Year: Date of Birth: Premium Funding Options: (Note—covered by Premiium Payment OptionsHealth Information NeededIssue Age of Insured: Waiver of Premium or Deductions Options: [Note: should be part of additional benefits ]Medical Examination Required ?Risk Class:Other Costs and FeesSurrender ChargesSurrender ChargePolicy FeeOtherOther: Other Information We Use With and Without Your PermissionRisk Ranking: You are Xth of Y rating groupsHealth Examination: Actions You Can Take to Lower Your PremiumDescription of Costs of Insurance Costs and Other Fees: Policy Information and Death Benefit Additional Policy Benefits and Options Policy Name: Note: Suggest grouping yes/no items first, followed by optional itemsPolicy May Pay Eligible for Dividend Payments:Policy Has a Living BenefitPolicy Has a Cash Value or Accumulation Feature:Policy Loans Available: How long is the policy in force if I pay required premiums?Coverage Period:Option to Convert to Another Type of Insurance:Conversion Options:State of Issue: Option to Extend the Policy Past Initial Term: Initial Death Benefit: Optional Riders: Can the Death Benefit Change? : Living Benefit:Policy Effective Date:Option to Lower Benefits to Reduce Premiums: Other Options (“Riders”)Policy Loan Options: Note: Include in Policy BenefitsCash Value: State of Issue:Fixed Account of Index Account Features Note N/A for term life: ................
................
In order to avoid copyright disputes, this page is only a partial summary.
To fulfill the demand for quickly locating and searching documents.
It is intelligent file search solution for home and business.
Related searches
- national association of retired people
- national association of retired persons
- national association of financial planners
- national association of educational progress
- national association of financial advisors
- national association of personal financial advisors
- national association of private school
- national association of accountants
- national association of black accountants
- national association of purchasing professionals
- national association of insurance commissioners
- national association of addiction counselors